Who Is Rishi Sunak?
Following a successful early career in finance, Rishi Sunak entered Parliament as a Conservative MP from Richmond in 2015. Named Chancellor of the Exchequer just five years later, he earned praise for devising a massive bailout package to support struggling businesses and individuals amid the spread of Covid-19. Sunak fell short in his initial bid for the Conservative Party leadership, but he became the U.K.'s first prime minister of color when Liz Truss abruptly resigned from the post in October 2022.
How Old Is Rishi Sunak?
Rishi Sunak was born on May 12, 1980, in Southampton, England.
Parents and Nationality
Sunak's parents were born to Indian-Origin Families in East Africa before moving to England in the 1960s. His father, Yashvir, became a general practitioner in the National Health Service, and his mother, Usha, operated a pharmacy.
Early Years and Education
The oldest of three children, Sunak developed an early love for cricket and a knack for business by helping out at the family pharmacy.
Although an expected scholarship to Winchester College never materialized, Yashvir and Usha accepted the financial burden of sending their son to the prestigious boarding school, with Sunak contributing by working as a waiter on holidays. He went on to edit the school newspaper, The Wykehamist, and became Winchester's first "head boy" from an Indian background.
Sunak then enrolled at the University of Oxford's Lincoln College, where he studied the Philosophy, Politics and Economics curriculum. Not prominently involved with the school's political circles, he instead became president of the Oxford University Investment Society, before graduating with a first-class degree in 2001.
Sunak later attended Stanford University's Graduate School of Business on a Fulbright scholarship, earning his MBA in 2006.
Financial Career
Sunak began his professional career as a junior analyst in the London branch of Goldman Sachs, where he focused on American stocks in the media and transportation sectors. Following his time at Stanford, he returned to England to enter the booming hedge fund industry as a partner at The Children's Investment Fund (TCI).
The splintering of TCI sent Sunak back to California in 2010 to work for a former boss at the hedge fund Thélème Partners. He later took over as director for his father-in-law's investment firm, Catamaran Ventures, from 2013-15.
Before his start in politics, Sunak also served as a board member for a Boys & Girls Club in California, a governor of the East London Science School and as director of the Black and Minority Ethnic (BME) Research Unit of the right-center think tank Policy Exchange.
Member of Parliament
Sunak launched his political career with a bid to replace longtime Conservative MP William Hague in the constituency of Richmond, North Yorkshire, in 2015. Although there was concern over how he would fare in the rural, mostly white region, the newcomer won over residents to claim more than 50 percent of the vote.
His rapid rise fueled by a sharp intellect and polished manner, Sunak became a parliamentary private secretary at the Department of Business, Energy and Industrial Strategy in June 2017 and then under secretary of state at the Ministry of Housing, Communities and Local Government the following January. Along the way, the neophyte MP made a name for himself by opposing Prime Minister David Cameron to come out in favor of Brexit.
After backing the leadership campaign of former Foreign Secretary Boris Johnson, Sunak was rewarded with the post of chief secretary to the Treasury in July 2019 and even stood in for Prime Minister Johnson during general election debates later that year.
Akshata came under scrutiny in April 2022 when it was revealed she did not pay U.K. taxes on her foreign earnings due to her "non-domicile" status. She later renounced that status to avoid being a "distraction" to her husband's political interests.
Personal
A devoted Hindu, Sunak is known for taking his oath of office on the Bhagavad Gita and for his public commemoration of the festival of Diwali.
Thanks, in large part, to his wife's family fortune, Sunak became the richest prime minister in U.K. history, with a reported net worth of £730 million as of May 2022. At the time, his properties included a mansion in Kirby Sigston, Yorkshire; two residences in west London; and a beach penthouse in Santa Monica, California.
Along with his professed interests in cricket, football and overall fitness, Sunak often cites his love for Star Wars on social media and reportedly owns a collection of lightsabers.
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