The wife of UK Prime Minister Rishi Sunak, Akshata Murty, lost about $61m on Monday after shares in Infosys Ltd, the Indian software company co-founded by her father, Narayana Murthy, tumbled the most since Sunak took office. Murty owns a 0.94% stake in the company, which closed down 9.4%, the largest drop since March 2020. Although Murty’s stake is still worth over £450m ($620m), it has served to highlight the difference between the Prime Minister’s personal wealth and those of struggling Britons in the cost of living crisis. Murty’s wealth and outside interests have been a recurring theme in her husband’s political career.
UK Parliamentary Commissioner for Standards Daniel Greenberg has opened an inquiry into whether Rishi Sunak, the UK Prime Minister, failed to declare a relevant interest related to a minority stake owned by his wife in a childcare company. However, Sunak’s office has stated that the interest had been “transparently declared,” and he would cooperate with Greenberg. This inquiry is a separate development from the news that Sunak’s wife, Akshata Murty, lost about $61 million after shares in Infosys Ltd tumbled on Monday. It’s not uncommon for political figures to disclose their financial affairs, and Rishi Sunak’s disclosure of paying more than 1 million pounds in UK taxes over the past three years is in line with such disclosures. It’s also worth noting that many politicians have earnings from sources outside of their political salaries, such as shares and capital gains, so this is not unusual either.
