ANDREW PIERCE: The golden life of a ‘billionaire couple’ with FOUR luxury properties
During meetings with his treasury team, Rishi Sunak is known to recite words of wisdom from his tycoon father-in-law, Narayana Murthy.
“One of my favorite quotes is, ‘In God we trust, but everyone has to bring data to the table,’ the Chancellor revealed. “It’s something I try to live…I I’m always interested in getting the data, getting the facts.”
Well, a growing chorus now thinks it’s time to share its own ‘data’ and ‘facts’.
Specifically – how many millions in tax his wife Akshata Murty could have saved with her coveted ‘non-dom’ status – domiciled overseas for tax purposes but resident in Britain, with all the perks what does life in these islands confer?
Thanks to her oh-so-attractive deal with HMRC, the Chancellor’s wife – unlike you and me – can earn money overseas without the taxes set by her own husband at No 11.
The Chancellor himself is said to have four cars, including a top Range Rover costing around £94,000, a top Lexus and BMW, both kept in California – and a more humble Volkswagen Golf, which was the only one thought to mention in Parliament)
Capital gains, income, inheritance – you name it, if the money is earned overseas, the Treasury doesn’t collect a dime of tax on it, even though she made her life here with her civil servant husband.
Yesterday, these extraordinary financial arrangements were greeted with fury. Sunak himself has hammered ordinary families with manifesto-breaking tax hikes, raising the overall tax burden to the highest since Clement Attlee’s post-war far-left government – while simultaneously, it seems – he, standing by as his own family may have avoided millions in taxes themselves.
So let’s look at the numbers — and the remarkable lifestyle that tax-hating members of the super-rich bring to the Sunaks.
Miss Murty’s father founded IT company Infosys in 1981 – and it’s now a £77billion giant. She owns just under 1%, a stake worth £713million. This sum dwarfs even the Queen’s fortune, which Forbes estimates at £325 million. Miss Murty’s family also have a £900m business with Amazon in India.
Not that Rishi is short of a bob or two. He made his fortune in the hedge fund industry before entering Parliament and is worth £200m himself.

Thanks to her oh-so-attractive deal with HMRC, the Chancellor’s wife – unlike you and me – can earn money overseas without the taxes set by her own husband at No 11.
The Sunaks have therefore been convincingly dubbed Westminster’s first ‘billionaire couple’: they may enjoy the largest family fortune of any clan in the Commons since Clive of India in the 18th century.
Last year alone, the Chancellor’s wife benefited from Infosys dividends totaling £11.6million. Her non-dom status means she avoided the UK’s 38.1% overseas dividend tax on those – a saving of £4.4m, although she may have – be paid taxes abroad.
As for her own business endeavors, she is now the sole director of Catamaran Ventures UK, which invests in startups, and which she launched with Rishi in 2013 (he sold his shares to her before becoming an MP in 2015). His father runs the Indian arm of Catamaran.
Alas, not all Catamaran projects have been a success. A private members club, Lava Mayfair Club Ltd, collapsed last year owing nearly £44million to creditors, including £374,000 to HMRC. Another firm, education company Mrs Wordsmith, went into administration last year with £16.3million – after receiving a £1.3million loan from the government’s Future Fund.
Miss Murty’s eponymous fashion label Akshata Designs has folded ignominiously in Britain after three years. She is also the director of a chain of gyms as well as New & Lingwood, the outfitter that supplies the tailcoats worn by Etonians and also sells £2,750 silk dressing gowns. (It is unclear to what extent she was personally involved in these ventures.)
Her spokesman had previously pointed out that India does not allow its citizens to hold dual nationality, saying: ‘She has always… paid UK tax on all her UK income.’
However, tax experts have raised eyebrows at this, suggesting non-dom status is a “choice.” Professor Richard Murphy, co-founder of the Tax Justice Network, added: ‘Domicile has nothing to do with a person’s nationality.
Meanwhile top tax lawyer Dan Neidle has suggested that although Miss Murty’s fortune is valued at just £500m, her non-dom status could one day save her £200m on inheritance tax.
The timing of these revelations really couldn’t be worse.
Tory MPs, I am told, were appalled when news of Miss Murty’s tax deal emerged on Wednesday, when a grinning Rishi stood alongside the PM in defense of a punitive hike national insurance.

During meetings with his treasury team, Rishi Sunak is known to recite words of wisdom from his tycoon father-in-law, Narayana Murthy. “One of my favorite quotes is, ‘In God we trust, but everyone has to bring data to the table,’ the Chancellor revealed
Not that the Sunaks are likely to worry much about the cost of living. Their property portfolio alone is believed to be worth some £14million.
This includes their five-bedroom main house in London, valued at £7million and set on exquisite Kensington mews.
They bought it – in cash – for £4.5million in 2010. Spanning four floors, it has four bathrooms and includes access to an exclusive private garden. They also own a £1.5million Georgian mansion set in 12 acres in the Sunak constituency of Richmond, North Yorkshire. Every summer, the Sunaks invite the villagers to a lavish garden party.
Uniformed staff pour champagne and serve canapes, while guests mingle along the ornamental lake with its boathouse and wooded island. No wonder some locals dubbed the Chancellor “the Maharaja of the Valleys.”
Then there’s their dazzling penthouse apartment — listed as Miss Murty — in Santa Monica, California. Worth £5.5million, it offers stunning views of the Pacific, while the building has a 24/7 concierge, a ‘fitness centre’ and a “pet spa” where “furry companions can be pampered”. Oh, and there’s a million pound flat in Old Brompton Road in Kensington.
Sunak – who was educated at Winchester College, where fees are now £43,000 a year – met his bride-to-be at Stanford University in California. (The couple are said to have donated at least £100,000 to Hampshire Public Schools this week.)
They tied the knot in 2009 in a lavish two-day show in Bangalore, attended by tycoons and cricketing royalty. In an open letter to his daughter, published in a book in India in 2016, Mr Murty described how he tried to teach her the virtue of moderation.
“There was a case in Bangalore, he recalls, where you were selected for a school drama for which you had to wear a special dress. It was the mid-1980s, Infosys had just started operations, and we didn’t have enough money to spend on non-essentials.
“Your mum explained to you that we couldn’t buy the dress and that you would have to quit the show…we knew you had learned something important from it: the importance of austerity.”
Rishi doesn’t seem to have received the memo. Just last month, as the cost of living crisis intensified, he was pictured walking around SW1 wearing a £335 pair of white leather trainers.
Rishi is obviously fond of fashionable luxury goods. When working on emergency financial measures during the pandemic in 2020, he posted pictures of himself in his office next to a £180 ‘Bluetooth coffee mug’ with a ‘coaster of charge”, which keeps his drinks at his preferred temperature. (Some have suggested that the only “cup” is the person who would buy such a thing.)
The public was ready to forgive such apparent signs of disconnection as long as the Chancellor was shoveling ‘free’ money at them during the pandemic in the form of furlough payments, Covid business loans and the rest. But now the bill for his largesse has landed – and the electorate’s patience has worn thin.
After last month’s ill-received spring statement, in which he stuck to his National Insurance hike, Sunak staged a photo op filling a car with petrol to publicize the 5p tax cut on fuel fuel.
It was a disaster. Sunak appeared to hold his bank card up to the barcode scanner and filled up a Kia car he had borrowed from a supermarket employee for the occasion.
The Chancellor himself is said to have four cars, including a top Range Rover costing around £94,000, a top Lexus and BMW, both kept in California – and a more humble Volkswagen Golf, which was the only one thought to mention in Parliament.)
All this inevitably led some to wonder: can the chancellor possibly identify with the concerns of voters in difficulty?
A recent YouGov poll found that more than half of Britons now have an unfavorable view of him, compared to 28% who see him in a positive light.
A Tory source said: ‘He was the golden boy when giving away public money during lockdown, but the shine has well and truly worn off. The revelations about his wife’s non-dom status are a calamity for him — and for us as a government.
Will he reveal the details of these arrangements? Or does his penchant for “facts” and “data” not always apply to his own business?
Additional Calum Muirhead Reports