The daughter of Sunak, a British-born man who married an Indian-born idol
Co-founder NR Narayan Murthy is described in the analysis as the first frontline politician to appear in the annual ranking of the richest people in the UK in its 34-year history.
The 42-year-old finance minister of Indian descent is a former hedge fund manager who gave up his financial career to be elected Conservative Party MP in 2015.
“Not so long ago, the 42-year-old Sunak was identified as the smooth successor to a future prime minister, Boris Johnson. However, the chancellor’s ambitions were dashed by last month’s revelation that his wife, Akshat Murthy, was a “non-dom” – a status that allows those who have a permanent home (residential) outside the UK to pay tax only on income. This country, as well as the annual charge of GBP 30,000, “reads The Sunday Times Rich List.
For the statue, it mentions that the entrepreneur owns 0.93 percent of Infosys in his own name, which would be a fraction of the approximately 690 million GBP value.
“It should have paid around GBP 54 million in dividends in the last seven and a half years – including GBP 11 million in 2021. Without the non-dome status, GBP would be liable to pay 20.6 million UK tax on these payments of the statue. He has now agreed to pay taxes on his 2021 dividend, ”the report added.
Last month, Murthy announced that she would pay UK taxes on all her income, including from India, to avoid a dispute over her non-dome status due to her being “disrupted” by her husband.
Sunak defended his wife harshly and has since been given a clean chit by an ethics adviser to an independent minister in the UK government.
Meanwhile, Shri and Gopichand Hinduja and family have returned to the top of the ‘Sunday Times Rich List’ rankings after dropping to third place last year, recording the biggest fortune in the history of the list.
“Not everything in the Hinduja dynasty may be harmonious, but their business empire has enjoyed a bumper year,” the newspaper noted, citing a reported family feud.
“Most of their assets are found in companies listed on the Indian stock market. The Mumbai-based family partnership
Now worth GBP 4.545 billion. Their holdings in the automaker, headquartered in Chennai, are valued at GBP 2.663 billion after a strong year and shares of IT giant Hinduja Global Solutions at GBP 1.283 billion. Shares of other listed companies add another 1.174 billion GBP, “it added.
In third place is another Indian-born brother, David and Simon Reuben, and their family wealth is estimated at 22.265 billion GBP.
They are second only to British inventor-entrepreneur Sir James Dyson and family, in second place with an estimated 23 billion GBP.
Further down in sixth place is NRI steel tycoon Lakshmi N Mittal with 17 billion GBP, who has added about 2.3 billion GBP to her fortune since last year through ArcelorMittal Steelworks.
Other rich people of Indian descent in the 2022 list include metal agile industrialist Anil Agarwal at 16th with an estimated GBP 9.2 billion, retailer Mohsin with an estimated GBP 4.73 billion and Juber Isa at 39th and Prakash Lohia at 41st. It is ranked 69th with an estimated GBP 4.37 billion and Simon, Bobby and Robin Aurora GBP 2.543 billion.
Also in the top 100 are NRI industrialist Lord Swaraj Paul and family and joint No. 72 (GBP 2.5 billion) of rain and new engineers, followed by
Founder Kiran Majumdar-Shaw and John Shaw at number 75 (GBP 2.496 billion) and hotel owner Jasminder Singh and family at number 99 (GBP 1.824 billion).
Overall, the UK now has a record 177 billionaires, six more than 2021, and their combined wealth is 653 billion GBP – 55 billion (9.4 per cent) more than the billionaires’ total wealth on Sunday last year. Times Rich List ‘.
Annual tally measures identifiable assets, such as land, property, horse racing, significant shares in industry or publicly quoted companies. Bank accounts, where the newspaper says it has no access, and small shareholders in a private equity portfolio are excluded.