This year, the former hedge fund manager and his heiress wife’s net worth is estimated to be around £529 million. This has resulted in the couple slipping from the 222nd position in 2022 to the 275th position in 2023.
Akshata Murty owns just under a one percent stake (worth approximately 52 billion) in the IT firm Infosys, co-founded by her billionaire father Narayana Murthy. Over the last year, the value of this stake has taken a hit, which directly resulted in a drop in the couple’s personal fortunes.
Infosys shares have lost almost a fifth of their value in the last year, owing to investors’ uncertainty about the company’s future in the Indian technology sector.
The couple's most valuable asset has long been a shareholding in Infosys, an Indian IT giant set up by Murty's father.
“Over the past year, their wealth has fallen by more than half a million pounds a day. When the pair made their debut on the Rich List 12 months ago, this stake was worth about GBP 690 million. Since then Infosys' shares have plummeted owing to lower revenues from its banking, tech and other clients,” read the analysis in the Sunday Times Rich List.
Rishi Sunak, the UK’s wealthiest prime minister to date, became the first frontline politician to be named in the annual ranking since its inception in 1989.
Indian-origin billionaire Gopi Hinduja and his family occupied the top spot on the 2023 rich list. This comes just a couple of days after the death of his brother and chairman of the Hinduja group, SP Hinduja.