As the Conservative Party Leadership race nears its end, just Rishi Sunak and Penny Mordaunt remain in the race for Downing Street.
With Sunak well past the 100 backers mark, his victory could come just seven weeks after he lost out to Liz Truss in the previous Tory leadership contest.
As the UK looks towards who could become their new prime minister, many are analysing the net worth of the former chancellor.
What is Rishi Sunak’s net worth?
Earlier this year, Sunak was included in the Sunday Times rich list, which details the UK’s wealthiest people, at number 222.
According to the Guardian, this makes him the first frontline politician to be named in the annual ranking since its inception in 1989.
The list puts his and his wife’s net worth at £730 million, with their source of wealth categorised as “technology and hedge fund”.
Wife Akshata Murty is the daughter of billionaire NR Narayana Murthy, a founder of the huge Indian IT firm Infosys. She holds a 0.93% stake in the company, thought to be worth around £430m.
She came under fire for holding nom-dom tax status earlier this year, which was thought to have saved her £20m in taxes on dividends from her shares.
Murty is also a fashion designer and runs the company Akshata Designs.
The Guardian reports that Sunak also owns a portfolio of four properties spread across the world and valued at more than £15m. Prior to getting into politics, Sunak was an analyst at investment bank Goldman Sachs, before working for various hedge funds.
Rishi Sunak and the cost of living crisis
If Rishi Sunak becomes PM, he faces one of the worst cost of living crises in recent years.
Inflation is running at a 40-year high of 10.1% according to the latest consumer prices index figures, causing a significant squeeze on household finances.
This comes as Sunak faces backlash over the project of his brand new swimming pool and the reported £14,000 per year bill it will cost to heat it - a figure about six times the average household’s energy bills.
The ex-chancellor had also previously faced backlash for moves such as removing the £20 Universal Credit uplift.
Rishi Sunak on taxes
In the leadership race, Sunak has pitched himself as the fiscally conservative candidate and criticised Liz Truss’s tax-cutting plans as “comforting fairytales”.
He promised to “deliver tax cuts that drive growth”, but to do so in a “way that’s responsible”.
He vowed to take 4p off income tax within seven years.
