Rishi Sunak is the Chancellor of the Exchequer of the United Kingdom, a position he has held since 2020. He is the youngest person to ever hold this position and is in charge of all economic and financial matters of the country. Sunak has made several notable decisions since taking office and is quickly becoming one of the most influential figures in the UK government. In this blog post, we will explore the life of Rishi Sunak, including his biography, wife, and net worth. Read on to learn more about the UK’s Chancellor of the Exchequer!
Who is Rishi Sunak?
Rishi Sunak is a British politician who has served as Prime Minister of the United Kingdom and Leader of the Conservative Party since October 2022. He previously held two cabinet positions under Boris Johnson, lastly as Chancellor of the Exchequer from 2020 to 2022. He is also the first Hindu Prime Minister of Indian heritage in the UK. Sunak has been a member of the Conservative Party for Richmond (Yorks) since 2015.
Early Life
Rishi Sunak was born on 12 May 1980 in Southampton, England. His father was a doctor who worked in the National Health Service while his mother worked as a pharmacist.
Sunak grew up in Yorkshire and attended Bradford Grammar School. He then went on to study at Oxford University where he obtained a First Class degree in Philosophy, Politics, and Economics. After university, he studied at Stanford Business School where he earned an MBA.
Prior to entering politics, Sunak worked as a banker for Goldman Sachs and then as a hedge fund manager. He also founded two investment companies, founded an online business directory, and served as an advisor to Prime Minister David Cameron from 2013-2015.
Education
Rishi Sunak had a strong academic record, attending the Hallfield Primary School in Paddington and then later Winchester College, one of the UK’s most prestigious private schools. After that he attended Stanford University, where he completed a Bachelor of Arts in political science, economics and philosophy. Following this, he pursued an MBA at the Stanford Graduate School of Business.
During his studies at Stanford, Sunak was a Senior Fellow of the Institute for Economic Policy Research and a guest lecturer in the Economics Department. He was also the Co-President of the Graduate Business Association and Chairman of the Indian Students Association.
After graduating from Stanford, Sunak became a consultant for management consultancy firm McKinsey & Company, where he specialized in corporate finance, technology and healthcare investments. He also worked as a banker at Goldman Sachs in London before founding his own venture capital firm, The Sunak Group.
Early Career
After completing his studies, Rishi Sunak took his first steps into the business world. After a brief stint as an analyst for investment bank Goldman Sachs, he moved on to become a Partner at Thematic Capital, an investment firm based in New York. This position saw him working with a variety of global firms, helping to identify areas of potential growth and opportunities.
In 2008, Sunak left Thematic Capital and established his own venture capital fund, the Catamaran Ventures Fund. The fund quickly achieved success with investments in companies such as the travel site Goibibo and the educational services firm Byju’s. He then went on to become a Director of Boston-based hedge fund Lansdowne Partners in 2009, before leaving in 2015 to focus more on politics.
Sunak’s impressive business acumen allowed him to make an easy transition into the world of politics. In 2010, he became a special advisor to the UK Prime Minister David Cameron and was soon selected as the Conservative candidate for Richmond (Yorks). Sunak won his seat in the 2015 general election with a majority of more than 23,000 votes, making him one of the party’s safest seats. This was to be the start of his successful political career.
Political Career
Rishi Sunak began his political career in 2015 when he was selected as the Conservative Party candidate for the safe seat of Richmond (Yorks) at the general election that year. He was successful, and won the seat with a majority of more than 23,000 votes.
In Parliament, Sunak quickly established himself as an effective debater and campaigner. He has sat on the Treasury Committee, Education Committee and Public Accounts Committee.
Sunak was appointed Parliamentary Under-Secretary of State for Local Government at the Department for Communities and Local Government in May 2016 and then promoted to Minister of State for Housing and Local Government in January 2018. In this role, Sunak played a key part in addressing the country’s housing crisis.
In July 2019, Prime Minister Boris Johnson promoted Sunak to Chief Secretary to the Treasury. This was widely seen as a reward for his loyalty to Johnson during the Conservative leadership contest. As Chief Secretary, Sunak was responsible for managing the public finances and formulating fiscal policy.
After the 2019 election, Sunak was appointed Chancellor of the Exchequer in February 2020 by Prime Minister Boris Johnson. Sunak has since gained a reputation for being a capable and pragmatic politician and he is widely seen as an effective communicator and negotiator.
Chancellor of the Exchequer
Rishi Sunak has been the Chancellor of the Exchequer since February 2020, making him one of the most powerful figures in British politics. As Chancellor, Sunak is responsible for setting the financial and economic policies of the United Kingdom and is also the head of Her Majesty’s Treasury.
Sunak has made it his mission to steer the UK economy through the COVID-19 pandemic, with a focus on getting businesses back up and running, helping those that have been affected, and providing support to those struggling with their finances. He has unveiled several innovative measures such as ‘Eat Out to Help Out’, which has provided government backed discounts for restaurant meals throughout August.
Sunak has also been heavily involved in negotiations with the EU over a future trading agreement, as well as addressing issues related to Brexit. During these talks, he has been responsible for maintaining a balance between protecting British interests and remaining true to the government’s commitment to open markets.
In the short time that Sunak has been Chancellor, he has established himself as an important figure in British politics and a leader who is willing to take bold action when necessary. His commitment to tackling some of the country’s most pressing problems has seen him become one of the most popular members of the Cabinet.
Personal Life
Rishi Sunak is married to Akshata Murthy, the daughter of prominent Indian business magnate N.R. Narayana Murthy. They have two children together and currently reside in London.
Before entering politics, Rishi worked in the banking industry for over 10 years, where he met his wife, who works for a private equity firm. He is an avid cricket fan, and often travels to watch matches across the world.
Rishi is known to be close friends with Prime Minister Boris Johnson and often speaks fondly of his “mate” during speeches. He has also been active in promoting environmental sustainability and has spoken out against single-use plastics.
Rishi Sunak Net Worth
Rishi Sunak has an estimated net worth of £730 million. Sunak is one of the wealthiest politicians in the United Kingdom, with his wealth primarily deriving from the shares he owns in several businesses.
Prior to his political career, Sunak was a successful hedge fund manager and venture capitalist. He also worked for two investment banking firms, Goldman Sachs and Credit Suisse, which significantly contributed to his personal wealth.
Sunak has made many wise investments over the years and currently owns various stocks, bonds and real estate assets. The majority of his fortune comes from his investments in private equity funds and venture capital companies.
In addition, Sunak also receives a salary of £165,000 per year as Chancellor of the Exchequer, and additional earnings as a Member of Parliament. With his current estimated net worth, Rishi Sunak is one of the wealthiest British politicians in history.
FAQs
Is Rishi Sunak Indian?
Rishi Sunak is of Indian descent, specifically Gujarati. He was born in Southampton, England to a Hindu Indian father and a British mother. His father is a businessman and his mother is a GP. His grandparents were from Gujarat, India, and his father moved to the UK in the 1960s. However, Rishi Sunak is a British citizen and a Member of parliament of the United Kingdom.
Is Rishi Sunak a Gujarati
Yes, Rishi Sunak is of Gujarati descent. He was born in Southampton, England to a Hindu Indian father and a British mother. His father is a businessman and his mother is a GP. His grandparents were from Gujarat, India, and his father moved to the UK in the 1960s. Sunak has spoken about his heritage and how it has influenced him, including in an article he wrote for the Conservative Home website in which he said: “Growing up, my family instilled in me a strong sense of pride in my heritage and a deep appreciation for the opportunities that Britain had given us.”
What religion is Rishi Sunak?
Rishi Sunak’s religion is Hinduism. He has spoken about his religious beliefs in some of his public statements. He has also visited Hindu temples and participated in Hindu religious ceremonies. In an article he wrote for the Conservative Home website in 2016, he said: “Growing up, my family instilled in me a strong sense of pride in my heritage and a deep appreciation for the opportunities that Britain had given us.”
Where is Rishi Sunak From Originally?
Rishi Sunak is originally from Southampton, England. He was born there to a Hindu Indian father and a British mother. His father is a businessman and his mother is a GP. His grandparents were from Gujarat, India, and his father moved to the UK in the 1960s. He grew up in Southampton, and later moved to London for his studies and work.
