Rishi Sunak is richer than King Charles III thanks to wife Akshata Murthy’s stake in an $800 million technology company.

Rishi Sunak won the Conservative Party leadership contest, making him the next prime minister of the United Kingdom and one of the richest people to hold the post, but his wealth comes from a surprising source: his wife.

Akshata Murthy is the daughter of the billionaire Nagawara technology founder Ramarao Narayana Murthy, who created Indian IT company Infosys. King Charles’ net worth is estimated at $420 million, and thanks to shares in her father’s company, Merty’s net worth is estimated at just over $800 million.

Shared wealth with Sunak makes him the only prime minister to date who has been richer than an incumbent monarch.

And that wealth comes from owning just under 1% of the company’s shares. Infosys currently has a market value 1.005 trillion Indian rupees, which is equivalent to just over 12 billion dollars.

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Murthy’s father has retired from his company but still owns a minority stake in Infosys, giving him a personal fortune of over $4 billion.

Sunak himself worked as a banker at Goldman Sachs and later joined the management of a children’s investment fund. He met Murthy while studying at Stanford’s Fulbright program for an MBA.

Rishi Sunak with daughters Krisna and Anushka and wife Akshata Murthy during the campaign on July 23, 2022 in Grantham, England.

Rishi Sunak with daughters Krisna and Anushka and wife Akshata Murthy during the campaign on July 23, 2022 in Grantham, England.
(Christopher Furlong/Getty Images)

Murthy’s parents left her to live with her grandparents while they worked to start their company, the company that would make N.R. father of tech industry in india.”

Meanwhile, her mother worked as a computer scientist and was the first female engineer at India’s largest automaker, part of the Tata conglomerate, according to the Guardian.

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This twist of fate took some time but allowed Murthy to study at Claremont McKenna College in California, where she earned a degree in economics and French before she transferred to the Institute of Fashion, Design and Merchandising in Los Angeles.

She married Sunak four years after meeting him at Stanford. At the time, Murthy moved to a Dutch cleantech incubator in San Francisco, but left soon after to start her own fashion label, Akshata Designs, a business that failed within three years.

Chancellor of the Exchequer Rishi Sunak and Akshata Murthy attend a reception for the British Asia Fund at the British Museum.  September 9, 2022 in London.

Chancellor of the Exchequer Rishi Sunak and Akshata Murthy attend a reception for the British Asia Fund at the British Museum. September 9, 2022 in London.
(Max Mumby/Indigo/Getty Images)

Murti’s wealth has proven to be a difficult topic at times, including recent dispute over tax status due to the fact that while she lives in the United Kingdom with her husband, she continued to declare her resident status without permanent residence, which meant she was not liable to pay UK taxes on her overseas income, according to the BBC.

Since her wealth is almost entirely tied to the family company in India, this meant that she paid the UK virtually nothing while living there. This arrangement drew accusations of hypocrisy for Sunak, who therefore did not pay taxes while the rest of the country struggled with inflation and rising costs.

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Murthy would have had to pay an estimated $321 million in UK inheritance tax, but her Indian citizenship and status without permanent residence protected her from such taxes, a privilege for which she paid around $35,000 a year.

The couple own a $450,000+ Georgian mansion in the North Yorkshire village of Kirby Sigston, which includes an indoor spa and pool, gym, yoga studio, hot tub and tennis court, reports The Guardian.

Akshata Murthy and her daughters attend a campaign event for the leadership of the Conservative Party in Grantham, UK on July 23, 2022.

Akshata Murthy and her daughters attend a campaign event for the leadership of the Conservative Party in Grantham, UK on July 23, 2022.
(Reuters/Peter Nicholls)

The large disparity in wealth prompts the assertion that Sunak was too rich to understand the struggle of the average British citizen when one Labor MP accused him of being “out of touch” and “living on another planet”.

Murthy eventually agreed to change her tax regime as she decided it might “distract” her husband, saying at the time, “It has become clear that many do not see this as being compatible with my husband’s role as chancellor.” [of the Exchequer].”

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“I understand and appreciate the British sense of justice and do not want my tax status to distract my husband or affect my family,” she added.

It will now pay UK tax on all worldwide income, including dividends and capital gains, “wherever in the world that income arises”, applying retroactively the 2021-22 tax year.