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 announced its sponsorship of the “Innovation and Sustainable Technology Solutions Competition (GU - IST Solutions), hosted by Gulf University at its main campus.
This strategic sponsorship reflects BENEFIT’s active role in advancing technological innovation and fostering sustainable solutions to future challenges. It also seeks to empower Bahraini youth by enhancing their skills, capabilities, and competitiveness in innovation and solution development—contributing meaningfully to the broader goals of sustainable development across all sectors.
As part of BENEFIT’s active involvement in the competition, the company has announced that Hanan Abdulla Hasan, Senior Manager of Public Relations and Communication, will serve on the competition’s supervisory committee. Her upcoming participation reflects BENEFIT’s forward-looking commitment to championing academic and professional excellence.
Commenting on the occasion, Hanan Abdulla Hasan, Senior Manager of Public Relations and Communication at BENEFIT, said, “We are privileged to support this pioneering initiative, which aligns seamlessly with BENEFIT’s enduring commitment to fostering innovation and nurturing the potential of Bahrain’s youth. Our participation is rooted in a deep sense of social responsibility and a firm belief in the pivotal role of innovation in shaping a sustainable future. Through such platforms, we seek to empower the next generation with the knowledge, skills, and foresight required to develop impactful solutions that address future challenges, in line with the United Nations Sustainable Development Goals 2030.”
Dr. Aseel Al Ayash Dean of the College of Engineering in Gulf University commented, “We extend our sincere gratitude to BENEFIT for their generous sponsorship and support of the Innovation and Sustainable Technology Solutions Competition. This contribution plays an instrumental role in helping us achieve the strategic goals of this initiative, namely, cultivating a culture of innovation and sustainability, encouraging efforts that address the imperatives of sustainable development, and enhancing the practical and professional capabilities of our students and participants.”
The event will bring together a diverse spectrum of participants, including secondary school students, university undergraduates, engineers, industry professionals, entrepreneurs, academic researchers, and subject matter experts representing a wide range of disciplines.
The competition seeks to inspire participants to develop and present innovative, sustainable technologies aimed at addressing pressing environmental, social, and economic challenges. It encourages the formulation of business models that integrate advanced technological solutions with core principles of sustainability. Moreover, it serves as a platform for emerging leaders, entrepreneurs, and innovators to contribute to the advancement of the Sustainable Development Goals, promote the ethos of responsible technology, and demonstrate its transformative potential across various sectors.
Attendees will have the opportunity to view a series of project presentations submitted by participants, covering diverse areas such as eco-friendly product design, smart and sustainable innovations, renewable energy technologies, water conservation and management, waste minimisation and recycling, green architectural solutions, and sustainable transportation systems. Outstanding projects will be formally recognised and awarded at the conclusion of the event.