On July 7, Boris Johnson announced his resignation from the Prime Minister post. This left a void at 10 Downing Street, London. A leadership race is taking place to hold the Prime Minister chair within the Conservative Party. At the conclusion of two laps of voting, Rishi Sunak is leading in the race for the Prime Ministerial post.
Since Boris Johnson resigned from the office mid-way after serving for three years as Prime Minister, there will be no general election. For choosing a new Prime Minister, this time, there will be internal rounds of voting within the conservative party. Tory members will vote for the successor of Boris Johnson.
The former finance minister, Rishi Sunak, began his campaign on Friday to succeed Boris Johnson as the leader of the Conservative Party and Prime Minister of the United Kingdom.
Sunak’s unexpected resignation on Tuesday from the second-powerful position in the British Cabinet came as a surprise. His resignation stamped the downfall of Boris, who was under the spotlight for a series of ethics scandals.
In a campaign film broadcast on Friday, Sunak highlighted the immigrant background of his family, noting that “it was Britain, our nation, that provided them and millions like them the prospect of a brighter future.”
Rishi Sunak was born to a Punjabi Hindu family who immigrated to the UK from East Africa in 1960.
Usha Sunak and Yashvir Sunak are the parents of Rishi Sunak. His father was NHS general practitioner, and his mother ran a medical shop. Akshata Murthy is Rishi Sunak wife, the daughter of an Indian millionaire. He met his wife in California, and the couple tied the knot in Bangalore, India, in 2009. Anoushka Sunak and Krishna Sunak are the couple’s two daughters.
Rishi Sunak went to Winchester College, a boarding school for boys in Hampshire. He then finished his undergraduate in Philosophy, Politics, and Economics (PPE) at Lincoln College, Oxford University. The bright scholar since childhood also graduated from Stanford University with an MBA.
Along with his wife, Akshata Murty, Rishi Sunak becomes the first MP featuring on the Sunday Times Rich List. Due to his prior work as a banker and marriage to Akshata Murty, the daughter of one of India’s most prosperous businessmen, the Chancellor is said to be the wealthiest member of the House of Commons.
According to an estimation, Akshata Murty and Rishi Sunak net worth are £730 million. Rishi Sunak married his wife in 2009, and she is the source of the great bulk of the family’s riches. Additionally, her family and Amazon have a £900 million joint venture in India. Akshata Murty owns a venture capital firm in the UK and serves as a director or direct stakeholder in five UK businesses.
Before becoming an MP, Mr. Sunak transferred all of his ownership interests in the firm to his wife.
After working for Goldman Sachs and two financial firms, Sunak, 42, was elected to parliament in 2015. He is one of the wealthiest government officials ever in Britain.
In February 2020, Sunak received a promotion to the chancellor. He started massive emergency expenditure projects to maintain the economy during COVID-19. Hence, he swiftly rose to become one of the most popular leaders in Britain.
Johnson and Sunak’s disagreement on how quickly to cut taxes amid the U.K.’s expenditure issue led to an increase in friction. Sunak was advocating for a much more “fiscally responsible” policy.
Sunak had long been considered a probable replacement for Johnson. But his stature was tarnished early this year when questions about his family’s money and punishment for violating lockdown guidelines emerged during the “party gate” affair.
With the exit of Boris Johnson from 10 Downing Street, London, the contention for Prime Minister chair is heating up. Asian origin Rishi Sunak is on the top of the table.
Rishi Sunak held the finance minister post for two years. Since the spring of 2022, there has been a more persistent interest in Rishi Sunak’s financial stature. His inclusion on the Sunday Times Rich List has contributed to the rise in attention to his net worth. Furthermore, it coincides with the UK’s “cost of living issue.” There is no concrete proof that attention on Rishi Sunak’s net worth will hinder his rise to the prime minister post. In the UK, not everyone is against those who have gained money.
He would likely desire to gain the vote of the common people in the present economic climate. However, it is undeniable that Sunak’s considerable wealth makes it harder for him to look as sympathetic to “regular voters”.