Almost 200 Tory MPs publicly backed the ex-chancellor, who was elected party leader without a vote.
"This decision is an historic one and shows, once again, the diversity and talent of our party," Ms Mordaunt wrote in a tweet. Mr Sunak will be the fourth consecutive prime minister - after Theresa May, Boris Johnson and Ms Truss - to take power without a general election. Sources told the BBC that Mr Sunak and Mr Johnson met on Saturday as Tory MPs decided who to back in the second Tory leadership contest in four months. Ms Mordaunt took the leadership race to the wire but came under pressure to unite behind Mr Sunak after former Prime Minister Boris Johnson withdrew from the contest on Sunday. Mr Sunak - a 42-year-old practising Hindu - is expected to take office in the coming days now the result of the Tory leadership contest is known. Mr Sunak's coronation, in effect, as Tory leader caps a rapid political comeback by the former chancellor after he lost out to Ms Truss in the last leadership contest during the summer.
The U.K.'s new prime minister and his wife, the daughter of an Indian tech billionaire, have a collective net worth higher than the personal fortune of King ...
[she confirmed in April](https://www.bbc.com/news/uk-politics-61027058) that she had “non-domicile” status in the U.K.—allowing her to avoid dividend and capital gains taxes in Britain. Born in Southampton to parents of Indian descent who emigrated from East Africa, Sunak attended the exclusive Winchester College boarding school and waited tables at an Indian restaurant during summer breaks. Through a spokeswoman, Murthy told the BBC that she paid about $34,000 a year to maintain that status, a fee charged if a person has lived in the U.K. Murthy is also a director at and owns a small stake in boutique gym chain Digme Fitness, which was hard-hit by the Covid-19 pandemic and was Altogether, Forbes estimates Sunak and his wife Murthy are worth roughly $810 million—more than a quarter of a billion dollars richer than the [$500 million personal fortune of King Charles III](https://www.forbes.com/sites/giacomotognini/2022/09/15/how-rich-is-king-charles-iii-inside-the-new-monarchs-outrageous-fortune/). Murthy’s firm was also [reportedly an early investor](https://www.bloomberg.com/news/articles/2022-05-30/rishi-sunak-s-wife-akshata-murty-builds-catamaran-ventures-ties-to-rich-families#xj4y7vzkg) in dara5, a private investment company established by a member of Qatar's ruling family. As an Indian citizen, Murthy is a tax resident of her home country and Murthy drew scrutiny for her tax status earlier this year, when Sunak served as Chancellor of the Exchequer—Britain's finance minister and the No. [contest for leadership of the Conservative Party,](https://www.forbes.com/sites/roberthart/2022/10/24/rishi-sunak-selected-as-britains-next-prime-minister-heres-what-to-know/?sh=35780cd37691) Rishi Sunak is set to become the United Kingdom’s next prime minister. Besides her stake in Infosys, she owns Catamaran Ventures UK, the British branch of her father’s venture capital and private equity firm. [reportedly spending](https://www.standard.co.uk/homesandproperty/celebrity-homes/rishi-sunak-luxury-property-portfolio-b993765.html) $450,000 to install a leisure center with a 40-foot swimming pool, a gym and an outdoor tennis court. Narayana Murthy](https://www.forbes.com/profile/nr-narayana-murthy/), the cofounder and retired chairman of Indian tech giant Infosys, whose net worth is estimated by Forbes at $4.5 billion.
New Conservative party leader to meet King Charles at Buckingham Palace.
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and welcoming the accession of His Majesty King Charles III. In just a short period, this government has acted urgently and decisively on the side of ...
It is because we do not dare that they are difficult.” I look forward to spending more time in my constituency, and continuing to serve South West Norfolk from the backbenches. and I wish Rishi Sunak every success, for the good of our country. And we must continue to strengthen our nation’s defences. We must be able to outcompete autocratic regimes, where power lies in the hands of a few. From my time as Prime Minister, I am more convinced than ever we need to be bold and confront the challenges that we face.
The new PM's rise is a great achievement, but his hardline views mean this is a less transformative moment than many hoped for, says barrister and author ...
[supporter of the Rwanda policies](https://www.theguardian.com/politics/2022/jul/24/rishi-sunak-and-liz-truss-vow-dramatic-expansion-of-rwanda-asylum-scheme) pursued by Priti Patel, policies that probably would have denied his parents from ever coming to Britain. [US green card](https://www.theguardian.com/politics/2022/apr/10/from-non-dom-to-green-card-questions-still-facing-rishi-sunak). Do you have an opinion on the issues raised in this article? But everything about his life and upbringing [is at odds](https://www.theguardian.com/politics/2022/aug/06/rishi-sunak-tory-leadership-private-school-prime-minister) with the millions struggling to pay bills, pay rent and buy food. But just as I don’t have much in common with a black Etonian called Kwasi Kwarteng, many British Asian people will not connect with Sunak beyond the issues of faith and ethnicity. And so, while this moment is undeniably historic, it is arguably less progressive than many would have hoped for. It was a time when cornershop windows were routinely smashed by supporters of the National Front, and Enoch Powell’s “rivers of blood” speech pointed to a dark future for immigrants in Britain. After 9/11, Asian people of every faith were targeted in a campaign of relentless racism and xenophobia that failed to distinguish religion from the colour of a person’s skin. It’s a momentous day for a number of reasons, not least because the Conservative leadership race was a shining example of that old immigrant adage: you have to work twice as hard to achieve your goals. Today, representation of British Asians on our airwaves and in our governing offices looks more promising than ever before. Without being able to claim any kind of salt-of-the-earth immigrant backstory, Sunak has still defied the odds as an Asian man to make it to the highest position in the land. In that sense, Sunak’s ascent is an undeniably great achievement, whether or not you agree with his politics.
Mr Sunak was the only Tory leadership candidate to get the backing of at least 100 Conservative MPs, meaning he will become leader without the party's members ...
"I am resigning as leader of the Conservative Party. Announcing her resignation, the prime minister said: "I recognise I cannot deliver the mandate on which I was elected by the Conservative Party. [Rishi Sunak](https://www.bournemouthecho.co.uk/news/national/uk-today/23073109.rishi-sunaks-policies-expect-becomes-prime-minister-today/) will become the [next Prime Minister](https://www.bournemouthecho.co.uk/news/national/uk-today/23073109.rishi-sunaks-policies-expect-becomes-prime-minister-today/) of the UK after gaining the backing of Tory MPs today. [former Chancellor](https://www.bournemouthecho.co.uk/news/national/uk-today/23073109.rishi-sunaks-policies-expect-becomes-prime-minister-today/) was initially opposed by Boris Johnson, who backed out of the leadership race over the weekend despite claiming to have received sufficient support from MPs to continue, and Penny Mordaunt, who was unable to gather the 100 backers needed to proceed in the contest. Unlike Mordaunt, Mr Sunak swiftly hit the threshold of 100 nominations from Conservative colleagues ahead of the deadline of 2pm on Monday before commanding the public support of about half the parliamentary party. Mr Sunak was the only Tory leadership candidate to get the backing of at least 100 Conservative MPs, meaning he will become leader without the party’s members having a vote.
Rishi Sunak, a former finance minister and hedge-fund manager, comes to office with some of the harshest economic headwinds Britain has faced in a ...
He called for “stability and unity” — the opposite of the tumult and divisions that characterized Truss’s tenure. Labour Party lawmaker Angela Rayner decried Sunak’s accession as a coronation and that the Tories could not “keep doling out prime ministers every month.” Labour leader He will also seek to unite his warring and unpopular Conservative Party, which, he warned, must “unite or die.” She closed with: “We continue to battle through a storm but I believe in Britain, I believe in the British people and I know that brighter days lie ahead.” The contest to replace Truss was wrapped up surprisingly fast — it was less than a week ago that she resigned. Tory grandee Iain Duncan Smith, a former leader of the Conservative Party, told LBC radio that Johnson found himself “struggling and begging people for votes. Then she was driven by motorcade to Buckingham Palace, and she resigned in person to the new king, Charles III. The incoming prime minister Sunak followed — and Charles asked him to form a new government. As the Roman philosopher Seneca wrote, ‘it is not that things are difficult that we do not dare, it’s because we do not dare, that it is difficult.’ ” She stumbled somewhat over Seneca’s name. “It means lower taxes so people can keep more of the money they earn. “We need to take advantage of our Brexit freedoms to do things differently. “From my time as prime minister, I am more convinced than ever that we need to be bold and confront the challenges we face.
The new Tory leader was asked to form a government during an audience with the King at Buckingham Palace. | ITV National News.
They are chaotic and who’s to say Rishi Sunak isn’t going to be out in six months’ time because you can hear the knives sharpening in Westminster of the disgruntled Borisites … Mr Sunak will look to build a Cabinet of “all the talents” that will see the political return of the “adults”, according to reports. He said: “The Conservative Party is a sclerotic mess. Mr Sunak is expected to address the nation just before noon, before entering No 10 as the UK’s first British-Asian PM and the youngest for more than 200 years at the age of 42. He made note of how he will “always be grateful” to Boris Johnson for his “incredible achievements” in No 10. Speaking on the steps of Downing Street he promised to "earn" the nations trust as it stares down a "profound economic crisis".
Outgoing PM tells successor he should continue cutting taxes and keep planned rise in defence spending.
The outgoing prime minister said she was “more convinced than ever we need to be bold and confront the challenges we face” – saying she still believed in lower taxes and strengthening the nation’s defences. Flanked by her aides and supporters on one side and husband and two children on the other, Truss wished Sunak “every success” before she was whisked away in a car to Buckingham Palace to formally tender her resignation to the king. [Rishi Sunak](https://www.theguardian.com/politics/rishi-sunak), to “be bold” as she laid down the gauntlet by suggesting he should continue cutting taxes and keep the planned rise in defence spending.
People across India are celebrating Rishi Sunak, who has embraced his Indian and Hindu heritage, becoming the newest British prime minister.
She has since resigned ( [over another matter](https://www.bbc.com/news/uk-politics-63320750)), and Indian authorities [say](https://www.livemint.com/news/india/india-counters-uk-home-secretary-suella-braverman-claim-on-visa-overstayers-11665131254204.html) they're working with British authorities to "facilitate the return of Indian citizens who have overstayed their visa period." tax on all of her income](https://www.ft.com/content/ed018eb2-3955-4134-a2b0-8dcf727651bd), amid allegations she had taken advantage of a loophole to minimize how much she pays.) chancellor of the exchequer lighting Diwali diyas](https://twitter.com/rishisunak/status/1327553814845677573) – earthen oil lamps – on the steps of his No. [a Diwali deadline for a U.K.-Indian trade deal](https://www.reuters.com/world/britain-still-wants-free-trade-deal-with-india-by-diwali-2022-10-12/). [Video of the then-U.K. Sunak as the prime minister of the U.K. Sunak's face is [splashed across the front pages of Indian newspapers](https://twitter.com/joerwallen/status/1584774108436656129/photo/1) Tuesday, as his ancestral homeland celebrates his achievement – 75 years after Indians cast off British colonial rule. [comments earlier this month ](https://www.telegraphindia.com/world/liz-truss-sacks-suella-braverman-whose-attack-on-indian-visa-overstayers-sank-uk-hopes-of-india-trade-deal/cid/1893165)by Britain's then-home minister, Suella Braverman – who herself is of Indian descent — alleging Indians are the worst overstayers of U.K. (A stakeholder in that company, Akshata Murthy is one of Britain's richest residents, and earlier this year [said she would voluntarily start paying U.K. He's the first Hindu and first person of color to become British prime minister. [In previous interviews with Indian media](https://www.business-standard.com/article/opinion/lunch-with-bs-rishi-sunak-115080601060_1.html), the incoming prime minister recalled how both of his grandfathers were born in Punjab, in British India, and migrated first to Africa, then to Britain in the 1960s. Special Diwali wishes to the 'living bridge' of UK Indians, as we transform our historic ties into a modern partnership.