…By Alan Peterson for TDPel Media.
The personal fortune of UK Prime Minister Rishi Sunak and his wife Akshata Murty has experienced a significant decline over the past year.
The value of Akshata Murty’s stake in her father’s company has plummeted, leading to a decrease in their overall wealth.
According to the latest Sunday Times Rich List, their estimated wealth now stands at around £529 million, a substantial drop from £730 million in the previous year.
Akshata Murty’s Stake in Infosys Impacted by the Tech Sector’s Uncertainty
Akshata Murty, wife of Prime Minister Rishi Sunak, owns a small stake in Infosys, an Indian IT giant co-founded by her billionaire father.
Her stake, which accounts for just under 1% of the company, has been affected by the decline in the Indian technology sector.
Over the past year, Infosys’ shares have lost approximately a fifth of their value, causing a reduction in Ms. Murty’s wealth.
The Impact on Rishi Sunak’s Political Career and Public Scrutiny
Last year, Rishi Sunak and Akshata Murty entered the Sunday Times Rich List, while Mr. Sunak served as the Chancellor of the Exchequer in Boris Johnson’s government.
The revelation of their substantial wealth drew attention and scrutiny, which affected Mr. Sunak’s standing during his bid to become the Prime Minister.
The financial affairs and wealth of the couple were closely examined, creating challenges for their political ambitions.
Sir Jim Ratcliffe Jumps to Second Place, Other Notable Changes in the Rich List
Chemicals billionaire Sir Jim Ratcliffe rose to the second position in the Rich List rankings.
His wealth experienced a significant increase of over £23.6 billion, bringing his total fortune to £29.7 billion.
However, this surge was mainly due to new information about his finances, rather than a change in his financial position.
The 2023 Rich List also showcased other notable changes, such as the decrease in the number of UK billionaires and the overall rise in combined wealth.
Sir Richard Branson’s Fortune Shrinks Amid Pandemic Losses
Sir Richard Branson, the founder of Virgin Group, has witnessed a substantial decline in his fortune, with a decrease of over 40% in just a year.
The pandemic took a toll on his various businesses, including Virgin Orbit, which recently filed for bankruptcy.
The net worth of Sir Richard Branson and his family has dropped by £1.79 billion, placing them at 44th position on the Rich List with £2.41 billion.
Insights into the Wealthiest Individuals and Families in the UK
The Hinduja family, behind the Indian conglomerate Hinduja Group, has secured the top spot on the Sunday Times Rich List for the second consecutive year.
Their fortune increased by more than £6 billion, reaching £35 billion.
The 2023 Rich List also revealed a decline in the number of billionaires, with a total of 171 individuals.
However, those who remained in the billionaires’ club witnessed a collective growth in their wealth of nearly £31 billion.
The list provides an overview of the top 20 richest people and families in the UK, including notable figures like Sir Jim Ratcliffe, Sir Leonard Blavatnik, and the Reuben family.
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