Rishi Sunak and wife Akshata Murty's combined fortune soars to £650m, according to Sunday Times Rich List

Rishi Sunak and his wife Akshata Murty's personal fortune has soared by more than £120 million over the past year.

The latest annual Sunday Times Rich List revealed their wealth grew substantially despite the wider UK billionaire boom coming “to an end” in the face of tough economic conditions.

The Tory Prime Minister and his wife's wealth was £651 million in the latest list, soaring from £529 million in 2023.

The rise was linked to Murty’s small stake in Infosys, the £55.3 billion Indian IT giant co-founded by her billionaire father.

Her shares grew in value by £108.8 million to nearly £590 million for the year.

The couple’s wealth still remains below its level from 2022, when it sat at around £730 million for the year.

Labour Shadow Scottish Secretary Ian Murray said: “Hard working Scots are earning less in real terms than they did in 2007, while the billionaire prime minister can’t tackle the cost of living crisis.

"He helped crash the economy and it’s hard working people that are paying for it.

“At the general election we can remove Tories from office and deliver a Labour government that serves in the interests of working people.

“That’s why more and more Scots are turning to Labour”

It came as the list of the richest people in Great Britain showed that King Charles’ wealth also grew for the year, rising to £610 million from £600 million.

The list recorded that the number of British billionaires tumbled again, continuing a theme seen in 2023.

The number of billionaires reached a peak of 177 in 2022, before dropping to 171 and falling again to 165 this year, driven by some seeing their private wealth contract amid high borrowing rates and others leaving the country.

Robert Watts, compiler of the rich list, said: “This year’s Sunday Times Rich List suggests Britain’s billionaire boom has come to an end.

“Many of our home-grown entrepreneurs have seen their fortunes fall and some of the global super rich who came here are moving away.

“Thousands of British livelihoods rely on the super-rich to some extent.

“We’ll have to wait and see whether we have now reached peak billionaire, and what that means for our economy.”

The list of Britain’s 350 wealthiest individuals and families together hold combined wealth of £795.36 billion, according to the new data.

Manchester United investor and founder of Ineos - which owns the Grangemouth refinery - Jim Ratcliffe was the biggest faller on the list, with his net worth dropping by over £6 billion to £23.52 billion.

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