17 April 2023 , 14:51
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Rishi Sunak’s heiress wife Akshata Murty lost about £49million today after shares in an Indian firm plummeted.
The Prime Minister’s partner owns a 0.94% stake in software company Infosys, which was co-founded by her billionaire father Narayana Murthy.
Shares in the firm plunged after a negative outlook for India’s technology sector was issued, according to financial newswire Bloomberg.
Infosys shares were down 9.4% when trading closed - the biggest drop since March 2020.
Mr Sunak and his wife were previously estimated to be worth £730million, according to The Sunday Times Rich List.
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Last week it emerged Ms Murty would receive almost £6.7m in dividend payments this summer from her Infosys shares.
It would take her dividends from the company for the financial year to £13m.
The couple were estimated to be worth £730m (PA)Infosys announced a first dividend after it published results in October, with Ms Murty’s share estimated at £6.25m.
The revelation of the diminished value of her stake came on the same day it emerged Parliament’s Standards Commissioner was investigating Mr Sunak over allegations of a possible failure to declare the shares his wife holds in a childcare agency that was boosted by the Budget.
The PM failed to mention Ms Murty's links to Koru Kids when he was quizzed by MPs over why the Chancellor’s announcement last month favoured private firms.
A No10 spokeswoman insisted: "We are happy to assist the commissioner to clarify how this has been transparently declared as a ministerial interest."
Mr Sunak faced demands to "come clean" about his family shares after being questioned by MPs over why the childcare policy favoured private firms.
Appearing before the Commons Liaison Committee of senior backbench MPs, he did not mention Ms Murty's shares in the firm, in which she has been listed as a shareholder on Companies House.
Mr Sunak appeared before the Commons Liaison Committee last month (PRU/AFP via Getty Images)A fortnight earlier, Chancellor Jeremy Hunt announced a pilot of incentive payments of £600 for childminders joining the profession.
Questioning why the sum doubles to £1,200 if workers sign up through an agency, Labour MP Catherine McKinnell asked if Mr Sunak had any interests to declare.
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"No, all my disclosures are declared in the normal way," claimed the PM.
Koru Kids, which is one of six childminder agencies listed on the Government's website, welcomed the new incentives in the Budget as "great".
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