An Oxford, and Stanford University alumnae, Sunak is famously married to Akshata Murthy, the daughter of billionaire Narayana Murthy.
Sunak spent three years at Goldman Sachs Group Inc. and later gained an MBA from Stanford in California, where he met his wife Akshata Murthy, daughter of Infosys co-founder Narayana Murthy. He married Akshata in 2009 and the couple has two daughters, Krishna and Anoushka.
Sunak's change in fate was triggered by the resignation of Truss after her high-profile sacking and resignation in her cabinet, following a heavily criticised mini-budget that left the UK pound tumbling.
Following Truss's short stint as British prime minister, Rishi Sunak and former Prime Minister Boris Johnson were seen as frontrunners for the UK PM bid.
Sunak is born in Southampton to parents of Indian descent who migrated to Britain from East Africa. Sunak was educated at one of England's most renowned schools, Winchester, and then Oxford.
UK High Commissioner to India Alex Ellis termed the appointment of the first Hindu Prime Minister to the UK, Rishi Sunak, a "historic moment."
"The election of the first Hindu PM of Britain is a historic moment," says Alex Ellis, British High Commissioner to India, in Hindi.
Prime Minister Narendra Modi on Monday greeted Rishi Sunak following his election as leader of the Conservative Party and the next British Prime Minister.
-With agency inputs