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Rishi Sunak is the United Kingdom’s new prime minister. Sunak was appointed to the post after meeting with King Charles III on Tuesday, October 25. He was elected after his predecessor Liz Truss stepped down as PM, after just 45 days for failing to deliver on an economic plan. After meeting with the King, Sunak gave his first speech from 10 Downing Street, where he promised to help improve England’s economy. “I will place economic stability and confidence at the heart of this government’s agenda. This will mean difficult decisions to come. But you saw me during Covid, doing everything I could, to protect people and businesses, with schemes like furlough,” he said, per The New York Times.
There are many expectations placed on Sunak as he takes office, especially as the third prime minister this year. It also marks a historic occasion, as he’s the first person of color to be elected to the office, and at 42, he’s also the youngest PM in 200 years. Here are five important things to know about Sunak.
1. Sunak worked for hedge funds and investment banks before getting into politics
Long before he was elected to Parliament, Sunak had a very successful career in finance. He and his wife Akshata Murty are estimated to be worth about $810 million, per Forbes. After finishing his education at Oxford University, Sunak was an analyst for the investment bank Goldman Sachs. After his time at Goldman, he became a partner at the hedge fund The Children’s Fund from 2006 to 2009. Before starting his political career, he was briefly involved with the hedge fund Theleme Partners and then began Catamaran Ventures with his wife.
2. He’s been in Parliament since 2015
Sunak made his first political run in 2014, when he was elected as the Conservative Party candidate to represent Richmond (Yorks). He was elected the following year and headed to Parliament. He was a supporter of Brexit before it was voted on in July 2016. Sunak was re-elected in 2017 and 2019.
3. He was Secretary of the Treasury
Sunak was a strong supporter of Truss’ predecessor, former Prime Minister Boris Johnson, and he appointed Sunak as the Secretary of the Treasury in July 2019. Given the MP’s strong business background, it should be no surprise that he was appointed to the post. Shortly after his appointment, he was promoted to Chancellor of the Exchequer, who is the head of His Majesty’s treasury. He held the position until July 2022.
4. He’s the first Hindu Prime Minister
Besides being the first person of color to be elected as the PM, Sunak is also the first Hindu person to hold the position. The news that a person of Indian descent has been celebrated by many people back in India, which was a British colony for nearly a century, via The Associated Press. India’s Prime Minister Narendra Modi took to Twitter to congratulate the new leader. “Warmest congratulations Rishi Sunak. As you become UK PM, I look forward to working closely together on global issues, and implementing Roadmap 2030. Special Diwali wishes to the ‘living bridge’ of UK Indians, as we transform our historic ties into a modern partnership,” he wrote.
5. His wife is a fashion designer
Sunak has been married to his wife Akshata Murty, 42, since 2009, and they have two daughters Krishna and Anoushka. The PM’s wife briefly owned her own fashion label, fittingly called Akshata Designs, according to Forbes. She also graduated from the Fashion Institute of Design and Merchandising. Despite her fashion background, Murty also has a keen business sense like her husband, having worked with him on Catamaran Ventures. Not only have they collaborated, but Murty’s father N.R. Narayana Murthy, 76, founded and is the head of Infosys, and he’s an Indian billionaire, worth an estimated $4.5 billion.
