A man said to be worth more than £700million is set to be installed in Downing Street.
But the earning won’t stop there for Rishi Sunak.
The former chancellor was elected Conservative Party leader by his MPs on October 24.
Ousted PM Boris Johnson pulled out of the race while Penny Mordaunt conceded, leaving Mr Sunak as the only candidate standing in what proved a coronation.
Much is made of the argument that those who become prime minister could earn a lot more money doing less stressful jobs in the private sector.
There were regular reports that Mr Johnson was privately complaining about his lack of cash when he was in the top job.
He had had to give up his salary of more than £250,000 for writing a column for The Daily Telegraph once a week after entering Downing Street.
With Mr Sunak primed to succeed Liz Truss — the shortest-serving PM in British history — this week, here is a look at how much he can expect to earn, courtesy of the public purse.
How much does the prime minister earn?
The prime minister continues to receive their MP salary as well as a wage for being leader of the country.
As prime minister, Mr Sunak will be entitled to a salary of up to £79,936.
However, some incumbents have chosen not to claim the full amount — in 2020/21, Mr Johnson reportedly claimed £75,440.
That five-figure salary will come on top of what Mr Sunak earns as MP for Richmond in North Yorkshire.
As of April, MPs are entitled to earn £84,144 annually.
That means Mr Sunak’s combined salary, should he claim the two full amounts, will be £164,080 as prime minister.
Are there any other perks to being Prime Minister?
When installed in No 10, Rishi Sunak will be entitled to live in a Downing Street flat, rent free.
He already knows what it is like to live in 10 Downing Street.
As has become the norm in recent years, Boris Johnson chose to live in the flat above Number 11, which is larger than the one above Number 10.
It meant Mr Sunak, his wife Akshata Murthy and their two daughters lived on the top floor above the famous black door for two years when he was chancellor.
While the use of the flat is rent-free, the PM has to pay a tax liability of about £7,000 a year for electricity, heating and maintenance.
It was previously reported that Mr Johnson paid a council tax bill of about £1,665 a year for the four-bedroom, central London property above No 11.
Mr Sunak will have to pay for his own food, even if it is prepared by the Downing Street kitchen.
But with so much in his bank account due to a past career in finance and his spouse’s eye-watering family wealth, he shouldn’t have any problems affording that.
The new leader will also be entitled to stay rent-free at Chequers, the PM’s official country residence in Buckinghamshire.
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