Rishi Sunak’s wife Akshata Murty lost about £49 million (around ₹500 crore) Monday after shares in Infosys Ltd tumbled the most since he became UK prime minister. (ALSO READ: Infosys share drops by almost 11%, most since Covid crash)
Murty owns a 0.94% stake in the Indian software giant co-founded by her father Narayana Murthy. The company nosedived Monday after its guidance painted a negative outlook for India’s technology sector, leading to a wave of downgrades by brokers. It closed down 9.4%, the biggest drop since March 2020.
While the paper loss is a fraction of the Sunak family’s wealth — Murty’s stake is still worth more than £450 million — it also serves to highlight the gulf between the prime minister and ordinary Britons struggling in a cost of living crisis.
Sunak’s office declined to comment.
Murty’s wealth and outside interests have been a recurring theme in her husband’s political career. Last year, it emerged she holds non-domicile status and hadn’t been paying UK tax on overseas earnings. She said her arrangements were “entirely legal,” but also opted to start paying British taxes on those earnings
In a separate development Monday, UK Parliamentary Commissioner for Standards Daniel Greenberg opened an inquiry into whether Sunak failed to declare a relevant interest relating to a minority stake owned by his wife in a childcare company. His office said the interest had been “transparently declared” and that the premier would cooperate with Greenberg.
{{/usCountry}}In a separate development Monday, UK Parliamentary Commissioner for Standards Daniel Greenberg opened an inquiry into whether Sunak failed to declare a relevant interest relating to a minority stake owned by his wife in a childcare company. His office said the interest had been “transparently declared” and that the premier would cooperate with Greenberg.
{{/usCountry}}The prime minister last month disclosed details of his own financial affairs, showing he paid more than £1 million in UK taxes over the past three years. His earnings from shares and capital gains easily eclipsed his political salary.