UK finance minister Sunak named in list of Britain's super-rich
May 21, 2022, 7:53 am

UK finance minister Sunak named in list of Britain's super-rich

Chancellor Rishi Sunak will tell MPs that the period of doing ‘whatever it takes’ will be relatively short lived.

UK Finance Minister Rishi Sunak has become the first high-profile politician to make it to a “Rich List” of the 250 wealthiest British residents published by a national newspaper on Friday (May 20).

The announcement of the Sunday Times Rich List comes weeks after Sunak’s family's tax arrangements attracted controversy and amid a cost-of-living crisis.

According to the Daily Sabah, Sunak’s inclusion is largely a result of the wealth of his wife, Akshata Murty, whose father co-founded the IT behemoth Infosys.

The bulk of their wealth is believed to come from Murty’s 690 million pound ($859.47 million) stake in Infosys, but Sunak also had a highly lucrative career in finance before entering politics in 2015.

British Chancellor of the Exchequer Rishi Sunak and his wife Akshata Murthy attend a reception to celebrate the British Asian Trust, at The British Museum, in London, Britain, Feb. 9, 2022. (Reuters Photo)

The listing comes at a politically difficult time for the man in charge of Britain’s budget as he faces pressure to increase support for households struggling with soaring energy bills and food prices.

The Sunday Times newspaper said that the couple made The Sunday Times U.K. Rich List for the first time at number 222 with a reported joint net worth of 730 million pounds. The list’s compilers say their analysis is based on minimum estimates of identifiable wealth.

Boris Johnson and Rishi Sunak reject calls to resign after being fined by police over lockdown parties

Murthy, an Indian citizen, owns about 0.9% of Infosys.

Sunak, a former Goldman Sachs analyst who became chancellor aged 39 in 2020, earlier this week warned the country that the “next few months will be tough.”

Sunak and Murthy faced criticism and public anger last month over Murthy’s “non-domiciled” tax status which meant she did not pay tax in Britain on her earnings abroad. She subsequently gave up the status and said she would pay British tax on her global income.

Rishi Sunak to call for 'global action' to tackle supply chain issues as fuel crisis continues

The Sunday Times Rich List, first published in 1989, ranks the wealthiest people resident in Britain. It includes British citizens as well as individuals and families from overseas but who predominantly work or live in the United Kingdom.

List compiler Robert Watts, told Sky News: “There are some people who approach us wanting to be put onto the Rich List every year, Mr. Sunak wasn’t one of those."

The Sunday Times’ list calculates identifiable wealth – land, property, racehorses, art or significant shares in publicly quoted companies – but is unable to measure bank account balances and small shareholdings in private equity portfolios.

Source: dailysabah

Mexico reports first death of child from unknown severe hepatitis Volodymyr Zelensky proposes formal deal on compensation from Russia

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”