TIMES.KY

Cayman Islands, Caribbeanand International News
Saturday, Feb 04, 2023

UK Minister Rishi Sunak's Wife Is Richer Than The Queen: Report

UK Minister Rishi Sunak's Wife Is Richer Than The Queen: Report

Rishi Sunak's wife Akshata Murty owns shares worth almost a billion dollars in Infosys while Queen Elizabeth II has personal wealth of about 350 million pounds ($460 million).

Akshata Murty, the Indian wife of embattled British finance minister Rishi Sunak, is richer than the queen as the daughter of a self-made tech billionaire and a no-less-formidable engineer and philanthropist mother.

Mr Sunak, once seen as a future prime minister of UK, has seen his popularity sink because of surging consumer prices, while recent reports that Ms Murty's foreign earnings are shielded from British tax authorities have added to the pressure.

Her father, NR Narayana Murthy, 75, co-founded tech giant Infosys in 1981, the outsourcing behemoth that helped drive India's remarkable transformation into the "back office of the world".

Borrowing ₹ 10,000 ($130) from his wife Sudha Murthy to help create it, the firm is now worth around $100 billion and was the first Indian company to list on Wall Street.

Sudha Murthy, 71, meanwhile was Tata Motors' first female engineer after famously complaining via a postcard to the chairman about the firm's stipulation that "lady candidates need not apply".

Rishi Sunak and Akshata Murthy met at Stanford University in the US when the latter was pursuing her MBA. The future chancellor of the exchequer was a Fulbright scholar already with a first-class Oxford degree.

Their 2009 wedding was a relatively modest affair, but the reception was attended by about 1,000 guests including politicians, industrialists and cricketers.

"Smear" Campaign


Akshata Murty, 42, owns shares worth almost a billion dollars in Infosys, according to the company's disclosure to the stock exchange.

This makes her richer than Queen Elizabeth II, whose personal wealth is about 350 million pounds ($460 million), according to the 2021 Sunday Times Rich List.

The couple own at least four properties, including a 7 million pounds five-bedroom house in upscale Kensington, London, and a flat in Santa Monica, California.

Akshata Murty is also the director of venture capital company Catamaran Ventures that she founded with Sunak in 2013.

She confirmed this week that she "is treated as non-domiciled for UK tax purposes", meaning returns from her Infosys stake are only liable for taxation outside Britain.

Mr Sunak told the Sun newspaper for Friday's edition that "to smear my wife to get at me is awful".

He said "it would not be reasonable or fair to ask her to sever ties with her country because she happens to be married to me".

Akshata Murty created her own fashion label, Akshata Designs, in 2010.

According to a 2011 Vogue profile, she works with artists in remote villages to create Indian-meets-Western fusion clothes that are "vehicles to discovering Indian culture".

"I believe we live in a materialistic society," she told the magazine. "People are becoming more conscious about the world they live in. Doing good is fashionable."

Newsletter

Related Articles

TIMES.KY
Close
0:00
0:00
Charlie Munger, calls for a ban on cryptocurrencies in the US, following China's lead
EU found a way to use frozen Russian funds
First generation unopened iPhone set to fetch more than $50,000 at auction.
WARNING GRAPHIC CONTENT - US Memphis Police murdering innocent Tyre Nichols
Almost 30% of professionals say they've tried ChatGPT at work
Interpol seeks woman who ran elaborate exam cheating scam in Singapore
What is ChatGPT?
Bill Gates is ‘very optimistic’ about the future: ‘Better to be born 20 years from now...than any time in the past’
Tesla reported record profits and record revenues for 2022
Prince Andrew and Virginia Giuffre Photo Is Fake: Ghislaine Maxwell
Opinion | Israel’s Supreme Court Claims a Veto on Democracy
Moonwalker Buzz Aldrin Gets Married On His 93rd Birthday
Who’s Threatening Israeli Democracy?
Federal Reserve Probes Goldman’s Consumer Business
China's first population drop in six decades
Microsoft is finalising plans to become the latest technology giant to reduce its workforce during a global economic slowdown
China's foreign ministry branch in Hong Kong urges British gov't to stop the biased and double standards Hong Kong report
Tesla slashes prices globally by as much as 20 percent
1.4 Million Copies Of Prince Harry's Memoir 'Spare' Sold On 1st Day In UK
After Failing To Pay Office Rent, Twitter May Sell User Names
Lisa Marie Presley, singer and daughter of Elvis, dies aged 54
FIFA president questioned by prosecutors
Britain's Sunak breaks silence and admits using private healthcare
Hype and backlash as Harry's memoir goes on sale. Unnamed royal source says prince 'kidnapped by cult of psychotherapy and Meghan'
Saudi Arabia set to overtake India as fastest-growing major economy this year 
Google and Facebook’s dominance in digital ads challenged by rapid ascent of Amazon and TikTok
FTX fraud investigators are digging deeper into Sam Bankman-Fried's inner circle – and reportedly have ex-engineer Nishad Singh in their sights
TikTok CEO Plans to Meet European Union Regulators
UK chaos: Hong Kong emigrants duped by false prospectus
France has banned the online sale of paracetamol until February, citing ongoing supply issues
Japan reportedly to give families 1 million yen per child to move out of Tokyo
Will Canada ever become a real democracy?
Hong Kong property brokerages slash payrolls in choppy market
U.S. Moves to Seize Robinhood Shares, Silvergate Accounts Tied to FTX
Effect of EU sanctions on Moscow is ‘less than zero’ – Belgian MEP
Coinbase to Pay $100 Million in Settlement With New York Regulator
FTX assets worth $3.5bn held by Bahamas securities regulator
A Republican congressman-elect is under investigation in New York after he admitted he lied about his education and work experience.
Brazilian football legend Pele, arguably the greatest player ever, has died at the age of 82.
Hong Kong to scrap almost all its Covid rules
EU calls screening of travellers from China unjustified
US imposes Covid testing for visitors from China
Ukraine President Volodymyr Zelenskyy Addresses Joint Session of Congress - FULL SPEECH
If a country is denied the right to independence by another, it is not in a union. It is in a dictatorship.
Where is Rishi? Chancellor Jeremy Hunt's excuses about the UK's economic challenges just don't make sense
Former FTX CEO Bankman-Fried finally arrested in Bahamas after U.S. files charges
Corruption works: House Financial Services Chair Waters doesn't plan to subpoena her donor, Sam Bankman-Fried, to testify at hearing on FTX collapse
Ronaldo's new contract...
Prince William's godmother resigns honorary royal role after exposing her/their racism
British PM Rishi Sunak pledges further action on strikes to 'protect lives'
×