Rishi Sunak Becomes UK PM – Know More About the First Indian-origin to Hold the Office

Young, ultra-rich, and the first person of Indian origin, Rishi Sunak becomes the Prime Minister of the UK. That’s not all. Rishi will also create a history of being the first practising Hindu to lead the nation.

At 42, the man who will take over the position as the 57th UK PM is richer than the king. Moreover, he is also younger than all his predecessors but William Pitt the Younger.

Here, we will explore a few details about Rishi Sunak including his background, education, and political career so far.

Rishi’s Youth

Rishi Sunak was born in 1980 in Southampton to Indian parents who moved from east Africa to the UK. His father was a general practitioner (GP) with National Health Service (NHS) and his mother owned a pharmacy. Rishi was the eldest among siblings and studied at Winchester College, a private boarding school. During his schooling, he was the head boy and has recently donated more than £100,000 to the school in multiple instalments.

Later, Rishi went to the University of Oxford where he studied politics, economy, and philosophy with a first-class degree. Then, he went to Stanford University for an MBA degree. It was there that he met his future wife, Akshata Murty.

Rishi Sunak’s Family

Rishi Sunak is married to Akshata Murty, an Indian billionaire and Infosys founder NR Narayan Murthy’s daughter. Reports suggest that Akshata owns a 0.91% stake in the company that’s worth £700 million. The couple married in 2009 in Akshata’s hometown, Bengaluru in a 2-day ceremony that 1000 guests attended. They have two daughters, Anoushka and Krishna.

The estimated combined fortune of the couple is £730 million. It’s double the wealth of King Charles III and Queen Consort, Camilla and that’s estimated at £300 to £350 million. Rishi and Akshata own four properties worldwide with a total valuation of over £15 million.

Sunak’s Rise to the Top

Rishi took merely seven years to progress from being an MP to the UK PM. That’s the fastest run by a PM in the modern era. The second on the list is David Cameron who took nine years to achieve the feat. However, the overall record lies with Pitt the Younger who took just two years.

However, Sunak had to go through hurdles to reach the top. When Rishi lost to Liz Truss on 5 September in a vote of Tory members, he likely disappeared from politics. He delivered his last speech in the Commons, the day after Truss joined as the UK PM. And things changed quickly and drastically with Truss’ downfall, paving way for Rishi’s return.

The unfunded tax cuts announced by Truss brought her down. However, Sunak came prepared with his supporters backing him since the summer campaign.

Fiscal conservatism has defined Rishi’s career. And now, after becoming the leader, he shared his ambition of building a highly productive UK economy with his MPs. He supported low taxation but asserted that it needs to be deliverable and affordable.

The Next Steps

On Tuesday, Sunak will be named the UK PM officially after meeting the King. After this, he will likely give a speech at Downing Street.

Broadly speaking, Sunak’s in-tray is loaded with multiple crises. According to Guardian, Sunak’s intent lies in ceasing the household support next April for energy bills. Rishi prefers meeting a random national debt-reducing target over saving people from poverty. He thinks that the lack of an energy price guarantee and fiscal expansion will increase inflation and deepen the recession. Moreover, it will likely increase the interest rates as well.

Also, Morgan Stanley predicts borrowing costs for homes to hit 6%. This, when added to higher utility bills, will make around 40% of households struggle with their mortgage payments.

Image Credits: Flickr

Rishi Sunak Becomes UK PM – Know More About the First Indian-origin to Hold the Office