If you’ve followed British politics over the past few years, Rishi Sunak’s name has been hard to miss — and that’s because his trajectory from chancellor to prime minister to election defeat was anything but ordinary. He went from steering the UK economy through a pandemic to resigning as PM on July 5, 2024, after the Conservatives lost the general election.
Years in office as PM: 2022–2024 ·
Chancellor of the Exchequer: 2020–2022 ·
Net worth (estimated): £800 million (family) ·
Constituency: Richmond and Northallerton ·
Age at appointment: 42 ·
Religion: Hinduism
Quick snapshot
- MP since 2015 (Britannica)
- Chancellor 2020–2022 (Biography.com)
- PM 2022–2024 (Politics.co.uk)
- Former Goldman Sachs analyst (Britannica)
- Co-founded Theleme Partners (Britannica)
- Family net worth ~£800M (Britannica)
- Remains MP for Richmond and Northallerton (Britannica)
- Working in business and philanthropy (Britannica)
Eight key facts, one pattern: Sunak’s career combines elite education, fast-track political promotion, and family wealth — but his premiership ended abruptly after just 20 months.
| Label | Value |
|---|---|
| Full Name | Rishi Sunak |
| Born | 12 May 1980, Southampton, England (Britannica) |
| Political Party | Conservative |
| Education | Winchester College, Lincoln College Oxford, Stanford University (Britannica) |
| Spouse | Akshata Murty (m. 2009) (Britannica) |
| Children | 2 daughters |
| Religion | Hinduism (Britannica) |
| Title | Prime Minister of the United Kingdom (2022–2024) (Britannica) |
Why was Rishi Sunak removed?
The short answer: the Conservative Party lost the 2024 general election to Labour, and Sunak took responsibility. On July 5, 2024 — the day after the vote — he resigned as Prime Minister and also stepped down as Conservative leader (Britannica).
General election defeat July 2024
Labour won a landslide, securing 412 seats to the Conservatives’ 121. The result was widely seen as a rejection of 14 years of Conservative rule, with Sunak’s campaign dogged by BBC (UK public broadcaster) election analysis noting that voters punished the party over economic stagnation and internal splits.
Conservative Party loss of public confidence
- Sunak took over in October 2022 after Liz Truss’s 49-day premiership. He inherited a party deeply divided over Brexit and fiscal policy (Biography.com).
- By June 2024, Conservative poll ratings had fallen to around 25%, according to YouGov (polling firm) tracking.
Internal party dissent and leadership challenges
Sunak faced rebellions on key legislation, including the Rwanda asylum bill, and never fully united the party’s right wing. His decision to call a snap election in July 2024 surprised even his own MPs, as Politics.co.uk (UK political news site) reported on the day of his resignation.
The pattern: Sunak’s removal was not a single event but the culmination of a party losing public trust.
How did Rishi Sunak make his money?
Before politics, Sunak built a career in finance that, combined with his wife’s stake in the Indian technology giant Infosys, made him the wealthiest MP at Westminster (Politics.co.uk). For a profile of another wealthy politician, see Allegra Spender: Biography, Politics, Husband, Net Worth, and Facts.
Career at Goldman Sachs
After studying at Oxford and Stanford, Sunak joined Goldman Sachs as an analyst in 2001, working on structured finance and derivatives (Britannica). He later moved to hedge fund firms, building expertise that would fund his political ambitions.
Co-founding Theleme Partners
In 2010, Sunak co-founded Theleme Partners, an investment firm that reportedly managed around $1 billion in assets (Britannica). He remained a director until entering government.
Wealth from family and marriage
Sunak’s personal salary as MP and minister is modest compared to the combined wealth he shares with his wife, Akshata Murty. Murty holds a 0.91% stake in Infosys, the IT services company her father co-founded, worth roughly £700 million at 2024 valuations (Britannica). The couple also own properties in London, Yorkshire, and California.
Sunak’s wealth became a political liability when it emerged his wife had claimed non-domiciled tax status, allowing her to avoid UK tax on foreign income. She voluntarily changed to UK domicile after public backlash (BBC News).
The implication: Sunak’s wealth became a political liability due to tax status controversies.
How long did Rishi Sunak last?
Sunak served as Prime Minister for exactly 1 year, 8 months, and 11 days — from October 25, 2022, to July 5, 2024 (BBC News). Among post-war UK PMs, his term ranks among the shortest, comparable to Gordon Brown (2y 11m) but longer than Liz Truss (49 days).
Timeline of his premiership
- 25 Oct 2022: Appointed PM after winning Conservative leadership contest (Britannica)
- Nov 2022: Delivered Autumn Statement, reversing most of Truss’s tax cuts
- Feb 2023: Agreed revised Northern Ireland Protocol with the EU
- Jan 2024: Signed Rwanda asylum deal with Rwanda
- 4 Jul 2024: General election Labour landslide
- 5 Jul 2024: Resigned as PM and Conservative leader (Britannica)
Key events during his term
Sunak’s premiership focused on five priorities: halving inflation, growing the economy, reducing debt, cutting NHS waiting lists, and stopping small boats crossing the Channel. Only the inflation target was met (BBC News).
Comparison with recent UK PMs
The table below shows how Sunak’s tenure stacks up against his immediate predecessors.
| PM | Tenure | Duration | Exit reason |
|---|---|---|---|
| Boris Johnson | Jul 2019 – Sep 2022 | 3y 2m | Resigned under pressure |
| Liz Truss | Sep 2022 – Oct 2022 | 49 days | Resigned after fiscal crisis |
| Rishi Sunak | Oct 2022 – Jul 2024 | 1y 8m | Lost general election |
| Keir Starmer | Jul 2024 – present | – | – |
The pattern: three Conservative PMs left office in under 2 years between 2022 and 2024 — a level of instability not seen since the 1970s. For context on the British monarchy, see King Charles Birthday: Why He Has Two Celebrations.
For Conservative Party members, the revolving door at No. 10 signals a deeper identity crisis. Labour now holds a mandate that could last a full parliament, shifting UK policy priorities for years.
Is Rishi Sunak a billionaire?
No — at least not individually. The combined net worth of Sunak and his wife Akshata Murty has been estimated at around £800 million by Britannica, citing the Sunday Times Rich List. However, the figure fluctuates with Infosys’s stock price, and earlier estimates placed it at £730 million in May 2022 (Biography.com).
The couple’s 2025 Sunday Times Rich List entry shows £640 million, while the 2026 entry (published early) drops to £563 million — illustrating the market sensitivity of Murty’s Infosys stake (The Times). Media reports sometimes use £800 million as the headline figure, but the actual number varies.
Some YouTube commentators (YouTube) have claimed Sunak is a billionaire, but those estimates rely on higher Infosys valuations and should be treated with caution due to market volatility.
Who is Rishi Sunak’s wife and is she Indian?
Yes, Akshata Murty is Indian. She was born in Hubli, India, and holds Indian citizenship (Britannica). She is the daughter of N.R. Narayana Murthy, co-founder of Infosys, and Sudha Murty, a philanthropist and author.
Murty met Sunak while both were studying at Stanford University in the early 2000s. They married in 2009 and have two daughters.
Her non-domiciled tax status became a major controversy during Sunak’s chancellorship, leading to public scrutiny of the couple’s financial arrangements. She later gave up the status and now pays UK tax on her worldwide income (BBC News).
Timeline: Rishi Sunak’s political journey
Below are the key milestones of his career from the moment he entered government.
- 13 February 2020: Appointed Chancellor of the Exchequer (Britannica)
- 5 July 2022: Resigned as Chancellor, triggering leadership contest (Biography.com)
- 24 October 2022: Elected Leader of the Conservative Party (Britannica)
- 25 October 2022: Became Prime Minister (Britannica)
- 4 July 2024: General election – Conservatives lost to Labour (Britannica)
- 5 July 2024: Resigned as Prime Minister and party leader (Britannica)
Timeline signal: Sunak’s rapid rise and fall compressed into just over 4 years at the top.
What’s confirmed and what’s still unclear
Confirmed facts
- Sunak became PM on 25 October 2022 (Britannica)
- He resigned on 5 July 2024 after election defeat (Britannica)
- He was Chancellor from 2020 to 2022 (Britannica)
- His wife Akshata Murty is daughter of Infosys co-founder (Britannica)
- Family net worth is estimated around £800M (Britannica)
What’s unclear
- Exact current net worth due to market fluctuations — estimates range from £563M to £800M (The Times)
- Future political ambitions or roles — Sunak has said he will remain an MP but has not ruled out a comeback
- Whether he will seek the Conservative leadership again
- The long-term impact of his resignation on his personal political brand
- The exact circumstances leading to his decision to call a snap election
These uncertainties highlight the volatility of wealth estimates and political futures.
Key quotes and perspectives
“I am sorry, I have given this job my all.” – Rishi Sunak, resignation speech outside 10 Downing Street, 5 July 2024 (BBC News)
“Sunak became the first UK prime minister of color when he took office on 24 October 2022.” – Biography.com (Biography.com)
“He was a technocratic chancellor but never managed to escape the shadow of his party’s internal battles.” – Politics.co.uk editorial analysis (Politics.co.uk)
These quotes reflect the historical significance of Sunak’s premiership.
Frequently asked questions
What is Rishi Sunak’s religion?
Sunak is Hindu. He was sworn in as Prime Minister with his hand on the Hindu holy book, the Bhagavad Gita (Britannica).
What was Rishi Sunak’s health like?
There have been no major public health concerns during his premiership. He is known to be a fitness enthusiast and regularly runs.
Who are Rishi Sunak’s parents?
His father, Yashvir Sunak, was a GP, and his mother, Usha Sunak, was a pharmacist. They emigrated from India to the UK in the 1960s (Britannica).
What is Rishi Sunak’s net worth?
Combined with his wife, estimated around £800 million, though recent Sunday Times Rich List figures show £563 million as of 2026 (The Times).
When did Rishi Sunak resign as PM?
He resigned on 5 July 2024, the day after the general election (Britannica).
What did Rishi Sunak do before politics?
He worked as an analyst at Goldman Sachs, co-founded Theleme Partners, and served as an MP since 2015 (Britannica).
How old is Rishi Sunak?
Born 12 May 1980, he was 42 when he became PM and 44 at the time of his resignation (Britannica).
What is Rishi Sunak doing now?
He remains the MP for Richmond and Northallerton and has returned to business and philanthropic activities. He has not ruled out a future leadership role (Britannica).
For Conservative voters, the departure of Sunak marks the end of an era of internal dysfunction. The party must decide whether to shift toward the centre or the right, while Sunak’s personal wealth and family connections will continue to generate curiosity and debate.
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Noah Fraser is Senior Reporter at Australia Voice, covering breaking stories and explainers.