Rishi Sunak Biography: Birth, Age, Parents, Education, Political Career, Net Worth, And More

Indian-origin UK politician Rishi Sunak is speculated to be the frontrunner for Prime Minister's position. The 41-year-old has been serving as the Chancellor of the Exchequer since February 2020 and MP for Richmond (Yorks) in North Yorkshire since 2015. Check his birth, age, education, parents, wife, children, and more.
Created On: Jan 14, 2022 17:33 IST
Modified On: Jan 14, 2022 17:54 IST
Rishi Sunak Biography: Birth, Age, Parents, Education, Political Career, Net Worth, And More
Rishi Sunak Biography: Birth, Age, Parents, Education, Political Career, Net Worth, And More

Rishi Sunak Biography: Indian-origin UK politician Rishi Sunak is speculated to be the frontrunner for Prime Minister's position. He has been serving as the Chancellor of the Exchequer since February 2020 and MP for Richmond (Yorks) in North Yorkshire since 2015. He has also served as the Chief Secretary to the Treasury from 2019 to 2020. 

Let's take a look at the life of Rishi Sunak.

Rishi Sunak Biography

Birth 12 May 1980
Age 41 years
Parents

Yashvir Sunak (Father)

Usha Sunak (Mother)

Education

Winchester College

Lincoln College, Oxford

Stanford University

Wife  Akshata Murthy
Children Two
Occupation

Politician

Businessman

Former Investment Analyst

Net Worth

£3.1 billion

Rishi Sunak Biography: Birth, Age, and Parents

Rishi Sunak was born on 12 May 1980 in Southampton, Hampshire, South East England to Indian parents Yashvir and Usha Sunak who were born in Kenya and Tanzania respectively. His father was a general practitioner while his mother was a pharmacist who ran a local pharmacy. 

Sunak's grandparents were born in Punjab Province, British India, and emigrated to the UK in the 1960s from East Africa. Sunak is the eldest of three siblings. His brother Sanjay is a psychologist and his sister Rakhi works as the Head of Humanitarian, Peacebuilding, UN Funds and Programmes at the Foreign, Commonwealth and Development Office. 

Rishi Sunak Education 

He is an alumnus of Winchester College, Lincoln College, Oxford and Stanford University. During his summer holidays, Sunak waited tables at a curry house in Southampton. 

Rishi Sunak's Business Career

He undertook an internship at Conservative Campaign Headquarters during his time at the university. From 2001 to 2004, he worked as an analyst at Goldman Sachs, an investment bank. He left the job to join The Children's Investment Fund Management (TCI) and became a partner in September 2006. He joined another hedge fund firm Theleme Partners in 2009. He also served as the director of investment firm Catamaran Ventures, owned by his father-in-law and businessman N. R. Narayana Murthy. 

Rishi Sunak's Political Career

In 2014, he was chosen as the Conservative candidate for Richmond (Yorks), a seat that was previously been held by William Hague. The seat has been held by the Conservative Party for over 100 years now. That year, he headed the Black and Minority Ethnic (BME) Research Unit of Policy Exchange and co-wrote a report on BME communities in the United Kingdom. 

In the 2015 General Election, he was elected as an MP from Richmond (Yorks). From 2015 to 2017, he served as a member of the Environment, Food and Rural Affairs Select Committee. 

He supported the EU referendum in 2016. He also wrote a report for the Centre for Policy Studies supporting the establishment of free ports after Brexit, and the following year wrote a report advocating for the creation of a retail bond market for SMEs. 

He was re-elected as MP from the same seat in the 2017 General Election. He served as the Parliamentary Under-Secretary from January 2018 to July 2019. He supported PM Boris Johnson in the 2019 Conservative Party leadership election and even co-wrote an article in a British national daily to advocate for Johnson during the campaign in June 2019. 

Sunak was re-elected in the 2019 General Election and was appointed Chief Secretary to the Treasury by Prime Minister Boris Johnson in July 2019 and served under Chancellor Sajid Javid. He became a member of the Privy Council on 25 July 2019. 

After a cabinet reshuffle in February 2020, Sunak was promoted to Chancellor of the Exchequer. 

Amid the COVID-19 pandemic, Sunak presented his first budget on 11 March 2020. As the pandemic created a financial impact, Sunak announced the £30 billion of additional spending of which £12 billion was allocated for mitigation of the economic impact of the COVID-19 pandemic. 

On 17 March 2020, he announced £330 billion in emergency support for businesses and a salary subsidy scheme for employees. Three days later, he announced the job retention scheme but received severe backlash as an estimated 100,000 people were not eligible for it. The scheme was extended until 30 September 2021. 

Sunak unveiled the £30 billion Eat Out to Help Out Scheme to support and create jobs in the hospitality industry. The government-subsidised food and soft drinks at participating cafes, pubs and restaurants at 50%, up to £10 per person. The offer was available from 3 to 31 August 2020 from Monday to Wednesday. While some consider the scheme to be a success as it subsidised £849 million in meals, others disagree. A study at the University of Warwick revealed that the scheme contributed to a rise in COVID-19 infections of between 8% and 17%. 

In his March 2021 budget, Sunak announced that the deficit had risen to £355 billion in the FY 2020-2021, the highest in peacetime. He increased the corporation tax from earlier 19 to 25% in 2023, a five-year freeze in the tax-free personal allowance and the higher rate income tax threshold. 

At the G7 Summit in June 2021, a tax reform agreement was signed to establish a global minimum tax on multinationals and online technology companies. In October 2021, OECD signed an accord to join the tax reform plan. 

In October 2021, he unveiled his third budget which included £5bn for health research and innovation and £3bn for skills education. 

Rishi Sunak Wife 

Rishi Sunak tied the knot with Akshata Murthy in August 2009. The couple has two daughters. His wife is the daughter of Indian billionaire N.R. Narayana Murthy, and serves as the director at Catamaran Ventures. She also runs her own fashion label and is among the wealthiest women in Britain. 

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FAQ

What degree does Rishi Sunak have?

He graduated in Politics and Economics from Lincoln College, Oxford and obtained an MBA from Stanford University, where he was a Fulbright scholar.

Who is the father in law of Rishi Sunak?

Indian billionaire N.R. Narayana Murthy is the father in law of Rishi Sunak.

Who is Rishi Sunak married to?

Rishi Sunak is married to Akshata Murthy. The couple has two daughters.

What is the nationality of Rishi Sunak?

The nationality of Rishi Sunak is British.

Who is Rishi Sunak?

Rishi Sunak is the Chancellor of the Exchequer since February 2020 and MP for Richmond (Yorks) in North Yorkshire since 2015. He is speculated to be the frontrunner for Prime Minister's position.
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