Akshata Murty

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Akshata Murty
Akshata Murty 2024.jpg
Murty in 2024
Born
Akshata Narayana Murty

(1980-04-25) 25 April 1980 (age 44)
Hubballi, Karnataka, India
CitizenshipIndian
Alma mater
Occupation Businesswoman
Known for Spouse of the prime minister of the United Kingdom (2022–2024)
Political party Conservative
Spouse
​
(m. 2009)​
Children2
Parents
Relatives Rohan Murty (brother)
Shrinivas Kulkarni (uncle)
Gururaj Deshpande (uncle)
Residences
Akshata Murty's voice
Murty's speech at the 2023 Conservative Party Conference
Recorded 4 October 2023

Akshata Narayana Murty [a] (born 25 April 1980) is an Indian heiress, businesswoman, fashion designer, and venture capitalist. She is the wife of former prime minister of the United Kingdom Rishi Sunak and the daughter of N. R. Narayana Murthy, a founder of the Indian multinational IT company Infosys, and Sudha Murty. She holds a 0.93 percent stake in Infosys, along with shares in several other British businesses. [1] [2] [3]

Contents

Since 2009, she has been married to Rishi Sunak, the former prime minister of the United Kingdom and leader of the Conservative Party from 2022 to 2024. He also served as Chancellor of the Exchequer from 2020 to 2022 in Prime Minister Boris Johnson's cabinet, as well as Leader of the Opposition from July to November 2024. According to the Sunday Times Rich List , Murty and Sunak hold the 245th rank for the richest people in Britain as of 2024, with a combined wealth of £651 million (US$827 million). [4] [5] In 2022, her personal wealth became the topic of British media discussion in the context of her claim of non-domiciled status, an arrangement seen as benefiting the "super rich." Murty later voluntarily renounced the fiscal benefits from her non-domiciled status. [5] [6]

Early life and education

Akshata Naryana Murty was born in April 1980 in Hubli, India, [2] [7] and was raised by her maternal grandparents while her father, N. R. Narayana Murthy, and her mother, Sudha Murty, worked to launch their technology company, Infosys. [8] [7] Her mother was the first female engineer to work for the TATA Engineering and Locomotive Company, then India's largest car maker, and later became a philanthropist. [9] Murty has one brother, Rohan Murty, [10] and they were brought up in Jayanagar, a suburb of Bangalore. [11] Her maternal grandparents were R. H. Kulkarni, a surgeon, and his wife Vimala Kulkarni, a school teacher. [12]

In the 1990s, [13] Murty attended Baldwin Girls' High School, Bangalore, and in 1998 studied economics and French at Claremont McKenna College in California. [14] She has a diploma in clothes manufacturing from the Fashion Institute of Design & Merchandising, [7] and a Master of Business Administration from Stanford University. [7]

Career and investments

In 2007, Murty joined the Dutch cleantech firm Tendris as its marketing director, where she worked for two years, before leaving to start her own fashion firm. [7] [15] Her fashion label closed in 2012. [2]

In 2013, she became the director of venture capital fund Catamaran Ventures. [7] She co-founded, with her husband Rishi Sunak, the London branch of the Indian firm owned by her father, N. R. Narayana Murthy. [16] Sunak transferred his shares to her shortly before being elected as the Conservative MP for Richmond in 2015. [17] Since 2015, she has owned a 0.91% [2] or 0.93% share of her father's technology firm Infosys, valued at around £481 million in 2023, [1] and shares in two of Jamie Oliver's restaurant businesses, Wendy's in India, and Koro Kids. [18] This made her richer than Queen Elizabeth II as of April 2022, [2] and richer than King Charles III as of October 2022. [19] As of 2022, Murthy was a director at Digme Fitness, and also Soroco, the digital transformation company that her brother Rohan Murty co-founded. [18]

Personal life

Kirby Sigston Manor, North Yorkshire Kirby Sigston Manor and Lake (geograph 2028063).jpg
Kirby Sigston Manor, North Yorkshire

Murty is an Indian citizen. She speaks English, Hindi, Kannada and French. [20] In August 2009, Murty married Rishi Sunak, whom she met in 2004 at Stanford University. [7] [21] They have two daughters, Anoushka and Krishna. [6] [10] The couple own Kirby Sigston Manor in the village of Kirby Sigston, North Yorkshire, as well as a mews house in Earl's Court, Kensington and Chelsea; a flat on Old Brompton Road, South Kensington; and a penthouse apartment on Ocean Avenue in Santa Monica, California. [22] [23] [24] [25] [26] In April 2022, it was reported that Sunak and Murty had moved out of 11 Downing Street to a newly refurbished West London home. [27] [28]

In April 2022, Murty's wealth became the focus of British media discussion [17] [18] that noted her non-domiciled resident status in the United Kingdom, which entitled her to pay no tax on her income outside Britain, subject to an annual payment of £30,000. [6] [8] [18] Later the same month, Murty announced that she would give up her non-domiciled status and pay UK taxes on her worldwide income voluntarily. [5] [29] [30] If Murty pays UK taxes on her worldwide income, but retains her non-domiciliary status, she can benefit from a provision in a 1956 treaty that was designed to help avoid double taxation of Indian citizens in India as well as the UK. [31]

See also

Notes

  1. ↑ /ˌækʃəˈtɑːnəˈraɪənəˈmɜːrti/ ; Hindi: [ˈəkʂət̪aːnaːˈɾaːjəɳ(ə)ˈmuːɾt̪iː]

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References

  1. 1 2 "Rishi Sunak and Akshata Murty net worth — Sunday Times Rich List 2023". The Sunday Times. 4 October 2023.
  2. 1 2 3 4 5 Neate, Rupert (7 April 2022). "Akshata Murty: Rishi Sunak's wife and richer than the Queen". The Guardian . Archived from the original on 7 April 2022. Retrieved 12 July 2022.
  3. ↑ Mendel, Jack (5 May 2022). "Rishi Sunak's father-in-law's company Infosys is still active in Russia". City A.M. Archived from the original on 25 October 2022. Retrieved 24 October 2022.
  4. ↑ "The Sunday Times Rich List 2024". www.thetimes.co.uk. 20 May 2024. Retrieved 20 May 2024.
  5. 1 2 3 John, Tara (25 October 2022). "Akshata Murty: Rishi Sunak's wife is a software heiress who's richer than royalty". CNN. Archived from the original on 4 December 2022. Retrieved 4 December 2022.
  6. 1 2 3 "Chancellor Rishi Sunak defends wife Akshata Murty in row over non-dom status". BBC News. 8 April 2022. Archived from the original on 27 December 2022. Retrieved 8 April 2022.
  7. 1 2 3 4 5 6 7 Bedi, Rahul; Bird, Steve (15 February 2020). "Why Rishi Sunak's wife may hold the clue to his budget". The Telegraph . ISSN   0307-1235. Archived from the original on 6 March 2020. Retrieved 7 April 2022.
  8. 1 2 "Rishi Sunak faces questions over wife Akshata Murty's non-dom tax status". BBC News. 7 April 2022. Archived from the original on 17 December 2022. Retrieved 7 April 2022.
  9. ↑ Blackall, Molly (7 April 2022). "The super-rich businesswoman and wife of Rishi Sunak under fire for using non-domicile status". iNews . Archived from the original on 24 October 2022. Retrieved 12 August 2022.
  10. 1 2 "The "IT" Crowd At Rohan Murty's Wedding; Infy Squad Turns Up In Suits, Kurtas – A Lot Like Love". The Economic Times . 4 December 2019. Archived from the original on 29 October 2022. Retrieved 7 April 2022.
  11. ↑ Murthy, N. R. Narayana (21 June 2020). "Hope for a growing, liveable Bengaluru". The Hindu . ISSN   0971-751X. Archived from the original on 7 December 2022. Retrieved 7 December 2022.
  12. ↑ Sudha Murthy, Wise & Otherwise , East West Books Pvt. Ltd (Madras) 2002.
  13. ↑ Lal, Nita (12 April 2022). "Akshata Murty's UK tax scandal divides Indians; peers remember her as "humble and simple"". South China Morning Post . Archived from the original on 7 December 2022. Retrieved 7 December 2022.
  14. ↑ Blackall, Molly (7 April 2022). "The super-rich businesswoman and wife of Rishi Sunak under fire for using non-domicile status". iNews . Archived from the original on 24 October 2022. Retrieved 7 December 2022.
  15. ↑ Shah, Rishna (8 September 2011). "Meet the designer: Akshata Murty". Vogue India . Archived from the original on 6 December 2022. Retrieved 5 December 2022. Local craftsmanship meets contemporary Western silhouettes in this ethical designer's label
  16. ↑ Hurley, James (2 October 2021). "Rishi Sunak's wife Akshata Murty lends £4.3m to start-up Catamaran Ventures". The Times . ISSN   0140-0460. Archived from the original on 11 November 2022. Retrieved 7 April 2022.
  17. 1 2 "Who is Rishi Sunak's wife Akshata Murty – and why are her family so wealthy?". Sky News . Archived from the original on 7 November 2022. Retrieved 12 August 2022.
  18. 1 2 3 4 Neate, Rupert (7 April 2022). "The wealth of Akshata Murty, Indian heiress and wife of Rishi Sunak". The Guardian. Archived from the original on 27 May 2022. Retrieved 8 April 2022.
  19. ↑ Sharma, Niharika (25 October 2022). "Rishi Sunak and his wife are richer than King Charles". Quartz. Archived from the original on 30 December 2022. Retrieved 30 December 2022.
  20. ↑ "Is Britain Ready For Akshata Murty?". Rediff.com . 19 July 2022. Retrieved 5 December 2023.
  21. ↑ Neate, Rupert (3 April 2022). "Sunaks' £5m Santa Monica flat offers sun, sea ... and a pet spa". The Observer . Archived from the original on 3 April 2022. Retrieved 7 April 2022.
  22. ↑ Tognini, Giacomo. "Inside The Fortune Of Britain's New Prime Minister Rishi Sunak And His Wife, Akshata Murthy". Forbes . Archived from the original on 25 October 2022. Retrieved 25 October 2022.
  23. ↑ "Chancellor Rishi Sunak has new pool, gym and tennis court approved". BBC News. 26 August 2021. Archived from the original on 29 August 2021. Retrieved 29 August 2021.
  24. ↑ Gadher, Dipesh. "New chancellor Rishi Sunak adds Downing Street address to his bulging property portfolio". The Times . Archived from the original on 9 July 2022. Retrieved 15 July 2022.
  25. ↑ Edwardes, Charlotte (1 August 2020). "Meet the chancellor: the real Rishi Sunak, by the people who know him best" . The Times. Archived from the original on 11 September 2020. Retrieved 11 September 2020.
  26. ↑ Neate, Rupert (3 April 2022). "Sunaks' £5m Santa Monica flat offers sun, sea ... and a pet spa". The Observer. Archived from the original on 3 April 2022. Retrieved 3 April 2022.
  27. ↑ "Rishi Sunak moves belongings out of Downing Street, says report". Business Standard . 10 April 2022. Archived from the original on 18 April 2022. Retrieved 20 April 2022.
  28. ↑ "Chancellor Rishi Sunak and family 'to spend less time at Downing Street'". ITV News . 9 April 2022. Archived from the original on 21 April 2022. Retrieved 20 April 2022.
  29. ↑ "Rishi Sunak's wife Akshata Murty gives up non-dom status and vows to pay UK tax on all income". iNews. 8 April 2022. Archived from the original on 11 November 2022. Retrieved 24 October 2022.
  30. ↑ "Rishi Sunak's wife says she will pay UK tax on all her earnings". Financial Times . 8 April 2022. Archived from the original on 30 October 2022. Retrieved 12 August 2022.(subscription required)
  31. ↑ Jack, Simon (8 April 2022). "Akshata Murty: Chancellor's wife could save £280m in UK tax". BBC News. Archived from the original on 7 November 2022. Retrieved 7 November 2022.
Unofficial roles
Preceded by Spouse of the Prime Minister of the United Kingdom
2022–2024		Succeeded by
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