Rishi Sunak Surpasses King Charles in 2024 Rich List: PM's Wealth Revealed

The personal wealth of UK Prime Minister Rishi Sunak and his wife Akshata Murty saw a remarkable increase of £122 million last year, according to the Sunday Times Rich List. The couple's fortune is now estimated at £651 million, up from £529 million in 2023. This impressive growth has placed them higher on the list than King Charles III.

Rishi Sunak and Akshata Murty’s Financial Growth

The substantial increase in Rishi Sunak and Akshata Murty’s wealth can be largely attributed to Murty's significant stake in Infosys. The $70 billion Indian IT giant has seen robust growth, which directly reflects in the couple’s financial standing. This has propelled them into a higher echelon of wealth, surpassing even the British monarchy.

Sunak's Wealth Surpasses Royalty

The latest Sunday Times' annual list of the UK's most wealthy individuals reveals that the Sunak family is now richer than King Charles III. While Charles III was ranked higher than the Sunaks last year, his personal fortune saw only a modest increase over the past year, rising from £600 million to £610 million.

In contrast, Rishi Sunak and Akshata Murty’s wealth, primarily attributed to Murty's stake in Infosys—a $70 billion (£55.3 billion) Indian IT company co-founded by her father, N R Narayana Murthy—grew significantly. The value of her shares alone increased by £108.8 million, bringing her stake to nearly £590 million for the year.

Historical Wealth Comparison

Interestingly, the couple had already ranked higher than the late Queen Elizabeth II in 2022, whose personal fortune that year was evaluated at £370 million. Sunak became the first front-line politician to feature on the Sunday Times' annual wealth list in its 35-year history when he appeared on it as Chancellor in the 2022 edition.

Official Responses and Public Perception

Downing Street has declined to comment on PM Sunak’s latest appearance on the rich list, calling it a "private family matter." However, the Prime Minister's official spokesman referenced Sunak's previous statements, emphasizing that people should judge him by his actions, such as his support for livelihoods during the pandemic through the furlough scheme.

Decline in UK Billionaires

The Sunday Times' annual list also highlighted a trend of declining numbers of British billionaires. The UK had 177 billionaires in 2022, which slipped to 171 last year and further declined to 165 this year.

The Top 10 Richest Families in the UK

1. Gopi Hinduja and Family: £37.2 billion (Industry and Finance)

2. Sir Leonard Blavatnik: £29.25 billion (Investment, Music, and Media)

3. David and Simon Reuben and Family: £24.98 billion (Property and Internet)

4. Sir Jim Ratcliffe: £23.52 billion (Chemicals)

5. Sir James Dyson and Family: £20.8 billion (Household Goods and Technology)

6. Barnaby and Merlin Swire and Family: £17.2 billion (Transport)

7. Idan Ofer: £14.96 billion (Shipping)

8. Lakshmi Mittal and Family: £14.92 billion (Steel)

9. Guy, George, Alannah, and Galen Weston and Family: £14.49 billion (Retail and Real Estate, including Primark)

10. John Fredriksen and Family: £12.87 billion (Shipping and Oil Services)

Public and Political Reactions

The juxtaposition of Sunak’s political role and his personal wealth has sparked various public and political reactions. While some view his wealth as a testament to his business acumen and success, others scrutinize the disparity between his wealth and the financial struggles faced by many citizens.

Future Projections

As economic conditions evolve, the wealth rankings are likely to shift further. Continued growth in technology and investment sectors could see changes in the composition of the wealthiest individuals and families in the UK. Future editions of the Sunday Times Rich List will be watched closely for these developments.