Wealth of Akshata Murti, Indian heiress and wife of Risha Sunaka Akshata Murty

Akshata Murti is richer than the queen and owns almost as many houses.

The Indian heiress and her husband, Chancellor Rishi Sunak, own a portfolio of four-house real estate worth about £ 15 million, including a penthouse in Los Angeles overlooking the beach where The Savior Little was filmed.

The couple, who married in a lavish two-day Indian ceremony in 2009 and have two children, live predominantly in an apartment above 10 Downing Street, but also own two other properties in the capital and a Georgian mansion of £ 2m in Yorkshire. .

The 42-year-old Merty has a fortune of £ 690 million in shares of Infosys, an IT giant founded by her billionaire father. This makes her much richer than the Queen, who has about 365 million pounds.

Akshata Murti with her husband Rishi Sunak and their children. Photo: https://www.rishisunak.com/about-me

This week it turned out that despite living in the UK for the past nine years, Merty is claiming non-domestic status, allowing her to avoid paying the British tax of £ 11.5 million a year she collects in quality dividends from foreign IT wealth.

Using the “out-of-home” scheme, also used by now-sanctioned Russian oligarch Roman Abramovich and Daily Mail owner Lord Rothermere, allowed Merty not to pay the £ 20m tax, which would have to be repaid at £ 54m in dividends. received over the last seven and a half years when she decided to pay the full tax in the UK.

Her spokeswoman suggested that Mert, as an Indian citizen, had no choice but to “be regarded as a person who does not reside in the UK for tax purposes”. However, all UK residents must actively apply for non-home status, submit to the state tax form SA109 to claim tax relief.

Merty also pays £ 30,000 an “annual fee” to the Treasury for the right to retain his status without title after a seven-year period.

The homeless scheme, first introduced under King George III in 1799, is legal and can be used to avoid paying British taxes on rental income and bank interest, as well as foreign dividends and inheritance taxes. Non-homeowners can live in the UK all year round.

The UK’s tax rules are set by Merty’s husband, the Chancellor.

In a spring statement last month, Sunak raised the tax burden on UK taxpayers to its highest level since the 1940s, even as the population faces the greatest pressure on living standards of all time. The Resolution Foundation has estimated that Sunak’s package of measures will lead to the poverty of 1.3 million people, including 500,000 children.

Before they moved to Downing Street – when Sunak was appointed chancellor in 2020 – their main residence was a five-bedroom house in Kensington. The property, which they bought in 2010 for £ 4.5 million, is now valued by real estate agents at over £ 7 million.

They also own an apartment on nearby Old Brompton Road, which is said to be used by family and friends when visiting.

In the picturesque village of Kirby Sigston in North Yorkshire, the couple owns a Georgian manor house, listed in the Class II list, valued at 2 million pounds. The house, which they bought for 1.5 million pounds before Sunak became a member of the constituency of Richmond (York), is under construction for 250,000 pounds to add an indoor pool, hot tub, tennis club and gym . Both Murti and Sunak are fitness fanatics who talked every day about training at dawn before work.

Last year, the couple received permission to plan a one-story L-shaped building in a paddock near a lake in their home in Yorkshire, located 12 acres near Nortalerton.

The building project includes a 40 by 16 foot indoor pool, a changing area, a hot tub and a ballroom with a mirrored wall. The building should be clad in local stone and covered with a Welsh slate roof to make it look like a “stone outbuilding that has undergone reconstruction and modification”.

However, at a planning meeting last year, Councilor John Noon said: “It doesn’t look like an outbuilding to me, but rather a rather large bungalow. I think it really affected the atmosphere of the second class manor house. When we went to the object, from the place where we were standing, you could see the manor. “

In California, where Merty and Sunak met, she owns a penthouse apartment for $ 7.2 million (5.5 million pounds), which offers magnificent views of the world-famous Santa Monica Pier and the Pacific Ocean.

Real estate agents for the six-story house, built in 2013, boast that the penthouse has “large private outdoor terraces, unlike anything that used to be on Ocean Avenue.”

Waverly Complex on Ocean Avenue, Santa Monica.
Waverly Complex on Ocean Avenue, Santa Monica. Photo: https://oceanaveliving.com/building-page/1705-ocean-ave-santa-monica-the-waverly/

Residents of the Waverly complex on Ocean Avenue are promised “the embodiment of city life on Santa Monica Beach” with “stunning views of Mount Santa Monica” where you “wake up to the sound of waves crashing against the shore”.

Designed by KTGY architects and designed by Los Angeles-based designers Marmola Radziner, the building offers a 24-hour concierge and fitness center, “equipped with the latest equipment for those who want to improve their cardiovascular or muscular endurance.” There is even an “animal spa” where “furry companions” residents can pamper themselves.

Morty, who was born in India, spent most of her teenage and 20 years in Los Angeles. She entered the city’s private Liberal College of Clermont McKenna, where she studied economics and French, and then transferred to the Institute of Fashion Design and Merchandising. She worked at Deloitte and Unilever before studying for an MBA at Stanford University.

It was at Stanford that she met Sunak, who received a prestigious Fulbright scholarship. For four years, they were married in a two-day ceremony in Bangalore attended by members of the royal family, including Indian spinner Anil Kumbla and the family of Rahul Dravid, a former captain of the national cricket team.

Her father, N. R. Narayana Murti, a billionaire, founder of Infosys, said he was “a little sad and jealous” when Akshata first told him about her new life partner. “But when I met Rishi and found him as you described him – brilliant, handsome and, most importantly, honest – I understood why you allowed your heart to be stolen.”

“,”caption”:”Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDesk”,”isTracking”:false,”isMainMedia”:false,”source”:”The Guardian”,”sourceDomain”:”theguardian.com”}”>

Subscribe to the Daily Business Today email or follow the Guardian Business on Twitter at @BusinessDesk

In addition to Infosys ’stake, the couple also owns London-based Catamaran Ventures UK, which invests in startups“ for future capital growth and income distribution ”. Sunak handed over his shares to her just before entering parliament, and she is now the sole owner.

She has held direct stakes in at least six other British companies, including the gentlemanly firm New & Lingwood, which measures their tailcoats and sells silk robes for £ 2,500 each.

Murtyhas also held stakes in the British business that runs Jamie Oliver’s pizzeria, Jamie’s Italian and Wendy’s Italian outlets in India, the Koru Kids nanny agency and the operator of the Digme Fitness gym, where she is the director. Both New & Lingwood and Digme laid off employees during the pandemic. Soroco, the software co-founded by her brother, calls Merty the director of her British division.

Leave a Comment