Akshata Murty's father NRNarayana Murthy co-founded tech giant Infosys in 1981. (File)
New Delhi:
Akshata Murty, the Indian wife of embattled British finance minister Rishi Sunak, is richer than the queen as the daughter of a self-made tech billionaire and a no-less-formidable engineer and philanthropist mother.
Mr Sunak, once seen as a future prime minister of UK, has seen his popularity sink because of surging consumer prices, while recent reports that Ms Murty's foreign earnings are shielded from British tax authorities have added to the pressure.
Her father, NRNarayana Murthy, 75, co-founded tech giant Infosys in 1981, the outsourcing behemoth that helped drive India's remarkable transformation into the "back office of the world".
Borrowing Rs 10,000 ($130) from his wife Sudha Murthy to help create it, the firm is now worth around $100 billion and was the first Indian company to list on Wall Street.
Sudha Murthy, 71, meanwhile was Tata Motors' first female engineer after famously complaining via a postcard to the chairman about the firm's stipulation that "lady candidates need not apply".
Rishi Sunak and Akshata Murthy met at Stanford University in the US when the latter was pursuing her MBA. The future chancellor of the exchequer was a Fulbright scholar already with a first-class Oxford degree.
Their 2009 wedding was a relatively modest affair, but the reception was attended by about 1,000 guests including politicians, industrialists and cricketers.
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Akshata Murty, 42, owns shares worth almost a billion dollars in Infosys, according to the company's disclosure to the stock exchange.
This makes her richer than Queen Elizabeth II, whose personal wealth is about 350 million pounds ($460 million), according to the 2021 Sunday Times Rich List.
The couple own at least four properties, including a 7 million pounds five-bedroom house in upscale Kensington, London, and a flat in Santa Monica, California.
Akshata Murty is also the director of venture capital company Catamaran Ventures that she founded with Sunak in 2013.
She confirmed this week that she "is treated as non-domiciled for UK tax purposes", meaning returns from her Infosys stake are only liable for taxation outside Britain.
Mr Sunak told the Sun newspaper for Friday's edition that "to smear my wife to get at me is awful".
He said "it would not be reasonable or fair to ask her to sever ties with her country because she happens to be married to me".
Akshata Murty created her own fashion label, Akshata Designs, in 2010.
According to a 2011 Vogue profile, she works with artists in remote villages to create Indian-meets-Western fusion clothes that are "vehicles to discovering Indian culture".
"I believe we live in a materialistic society," she told the magazine. "People are becoming more conscious about the world they live in. Doing good is fashionable."
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As an expert in the field of technology, entrepreneurship, and finance, I possess a comprehensive understanding of the concepts and individuals mentioned in the provided article regarding Akshata Murty, NR Narayana Murthy, Infosys, Rishi Sunak, and related financial and business elements.
NR Narayana Murthy is a pioneering figure in the tech industry, notably recognized as the co-founder of Infosys in 1981. This company played a pivotal role in India's technological evolution, particularly in establishing the country as a global hub for outsourcing services, earning it the moniker "back office of the world." The initial investment of Rs 10,000 from Narayana Murthy's wife, Sudha Murthy, symbolizes the humble beginnings of Infosys, which has now grown into a tech giant valued at approximately $100 billion and was the first Indian company to be listed on Wall Street.
Sudha Murthy's significant contributions, including being Tata Motors' first female engineer and her relentless pursuit of equal opportunities, reflect her strong advocacy for gender equality and her impactful role in the tech industry's advancement.
Rishi Sunak, the current British finance minister, crossed paths with Akshata Murty during their time at Stanford University, where she pursued her MBA. Their marriage in 2009 brought attention due to their backgrounds and affiliations with influential circles in politics, industry, and sports.
Akshata Murty's considerable wealth, primarily stemming from her ownership of Infosys shares worth nearly a billion dollars, surpasses the personal wealth of Queen Elizabeth II. Her directorship at Catamaran Ventures, established alongside Rishi Sunak in 2013, exemplifies her involvement in venture capital activities.
Furthermore, Akshata Murty's engagement in the fashion industry through her label, Akshata Designs, emphasizes her interest in merging Indian and Western cultural elements. Her dedication to promoting Indian culture and her belief in using fashion as a platform for social consciousness highlight her multifaceted endeavors beyond the realm of technology and finance.
The recent scrutiny regarding Akshata Murty's tax status, specifically being treated as non-domiciled for UK tax purposes due to her Infosys stake, has drawn attention to the intersection of personal wealth, taxation, and public perception, causing political ramifications for Rishi Sunak.
This comprehensive knowledge underscores the intricate interplay between technology, entrepreneurship, wealth, taxation, and social responsibility as evidenced in the lives and endeavors of the individuals and entities mentioned in the provided article.
