UK PM Rishi Sunak, wife lose $668 million as value of their Infosys stake plummets

British Prime Minister Rishi Sunak and his wife Akshata Murthy's consolidated wealth declined in the last 12 months. However, the couple with a net worth of $668 million still remains immune from the cost of living crisis which remains dominant on the political agenda of the United Kingdom.

The power couple has been currently ranked in the 275th position in the Sunday Times Rich List, falling from their 222nd position last year because of the decline in value of their stake in India's IT giant Infosys, which has been founded by Akshata Murthy's father N R Narayana Murthy.

“Over the past year, their wealth has fallen by more than half a million pounds a day. When the pair made their debut on the Rich List 12 months ago, this stake was worth about GBP 690 million. Since then Infosys' shares have plummeted owing to lower revenues from its banking, tech and other clients,” stated an analysis published in the Sunday Times Rich List.

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Sunak's wealth declined from$908 million to $658 million

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As United Kingdom's PM, Sunak earns an annual salary of around $205,367. When he took the position of prime minister last October, his income increased from the general lawmaker rate but it was not enough to cushion the decline in his wealth which was estimated at $908 million last year to $658 million in 2023.

Because of his fortune, Sunak facesregular attacks from opposition politicians who claim that he is out of touch with people from the ordinary class at a time when citizens of Britain are getting poorer.

Inflation in the country stands at over 10 per cent and people's wages have not increased frequently which has resulted in squeezing household incomes and causing a "cost of living crisis". Sunak took the pledge to halve inflation and enhance the economy to address the issue.

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Sunak is 10 Downing Street's richest occupant ever but he has constantly appealed to people to not hold his wealth against him.

"I think in our country, we judge people not by their bank account, we judge them by their character and their actions. And yes, I'm really fortunate to be in the situation I'm in now, but I wasn't born like this," Sunak had said last year.

Sunak's wife Akshata had also faced public anger and criticism in April over her "non-domiciled" tax status which meant she was not required to pay tax in Britain on the earnings she made abroad. Subsequently, she gave up the status and agreed to pay British tax on her global income.

(With inputs from agencies)

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