British Prime Minister Rishi Sunak and his wife Akshata Murty’s fortunes take a hit in new rich list analysis

LONDON: British Prime Minister Rishi Sunak and wife Akshata Murtiwho made their UK rich list debuted last year, has lost an estimated £201m ​​since then due to a drop in the value of Murty’s shares in Infosys, according to a media report on Friday.
The couple have risen from 222nd in 2022 to 275th in this year’s tally with an estimated wealth of £529million, widely attributed to the Indian software company co-founded by Murty’s father, Narayana Murthy, according to ” The Sunday Times Rich List” 2023.
“The couple’s most valuable asset has long been a stake in Infosys, an Indian IT giant set up by Murty’s father,” the rich list analysis said. “Over the past year their wealth has fallen by more than half a million pounds a day. When the pair debuted on the Rich List 12 months ago, that stake was worth around £690million. Since then, Infosys shares have fallen due to declining revenue from its banking, technology and other customers,” he noted.
The annual compilation of Britain’s richest families is once again dominated by the Hinduja family of Indian descent, who have seen their wealth rise over the past year to £35billion – the most great fortune ever recorded by the newspaper.
It comes just days after family patriarch Srichand P. Hinduja died in London aged 87 and his brothers – Gopichand, Prakash and Ashok – issued a statement expressing the family’s grief. in the face of his disappearance.
“For decades, a simple mantra has ensured harmony within the Hinduja household: ‘Everything belongs to everyone and nothing belongs to no one,'” the rich list said. “However, an eight-year court battle between the children of Sri, who died earlier this week aged 87, and their three uncles has laid bare the tensions at the heart of this billionaire dynasty. The feud began in 2015 when Sri claimed Gopi, 83, Prakash, 77, and Ashok, 72, tried to wrest ownership of Hinduja Bank from him. Sri had always owned the bank. Its chairman is his eldest daughter, Shanu, and its managing director is Shanu’s eldest son, Karam,” he said.
The top 10 on the 2023 ‘Sunday Times Rich List’ includes another group of Indian-born brothers, David and Simon Reuben, ranked fourth with an estimated fortune of around £24.399 billion.
At No 6 is NRI steel magnate ArcelorMittal Lakshmi N. Mittal with £16bn, down £1bn from a year ago, followed by Vedanta Resources industrialist Anil Agarwal at No 22 with an estimate of £8billion.
Other Indian-born billionaires on the 2023 list include textile entrepreneur Prakash Lohia ranked 33rd with an estimated £5.846 billion; retail majors Mohsin and Zuber Issa ranked 40th with £5.05bn; and pharmaceutical chiefs Navin and Varsha Engineer at 61 with £2.8billion.
Also among the top 100 are NRI industrialist Lord Spraj Paul and his family, ranked 68th with an estimated £2.6bn, and Simon, Bobby and Robin Arora at 71 with £2.532bn.
A new British Indian entry in this year’s Rich List is fashion industrialist Sunder Genomal, ranked 78th with an estimated fortune of £2.276billion, with hoteliers Jasminder Singh and his family – tally regulars – arriving at 89 with £1.904 billion.
According to “The Sunday Times”, its annual list is based on identifiable wealth, including land, property, other assets such as art or large shares in publicly traded companies, and excludes bank accounts. to which she does not have access.
Therefore, he notes, the actual size of the wealth of the country’s wealthiest could be higher than the estimated figures.
This year is the 35th such list published by the newspaper and it records the first drop in the number of billionaires since the 2007-08 financial crisis to 171, six fewer than last year.
King Charles III makes his way onto the list as Britain’s newest monarch, with an estimated fortune of £600million – which exceeds the wealth of his late mother Queen Elizabeth II, who had around £370million in the time of his death in 2022.


Leave a Reply

Your email address will not be published. Required fields are marked *

GreenLeaf Tw2sl