Akshata Murthy, wife of Chancellor of the Exchequer Rishi Sunak, is connected to some of the richest families in the world through her private investment firm, Catamaran Ventures UK.
The previously unreported documents show that Murthy’s family office was an early backer of dara5, a private investment community for “the next generation of global leaders” run by the Al-Thani family, members of Qatar’s ruling dynasty Co-founded in 2019. Catamaran has also acquired a stake in British luxury furniture market The New Craftsmen, whose shareholders include Rupert Murdoch’s eldest daughter Prudence and the Al Tajir family, Emirati owners of the Park Tower Hotel in London’s Knightsbridge district.
Murty, 42, who was born in India and remains an Indian citizen, has a net worth of about $1.2 billion thanks to her stake in Infosys Ltd., a company owned by her, according to the Bloomberg Billionaires Index. The software giant founded by his father, Narayana Murty. Shares in the Bengaluru-based company have surged more than 2,000% since Murty was first publicly disclosed as a shareholder in 2001, even as they struggled this year in the face of a broad tech selloff.
Catamaran Ventures is the name of the Murty family’s main investment entity in Bangalore. Narayana Murty is chairman of the company, which employs about 15 people in India and manages assets worth more than $1 billion, including esports, insurance and Elon Musk’s space exploration technology company.
Akshata Murty describes Catamaran Ventures on LinkedIn as a family office based in London and Bangalore, with a UK focus on local brands requiring funding, management expertise and networking partners. She is the sole director and shareholder of the UK branch.
Murty has helped manage some of her UK investments. She became a director of New & Lingwood in 2017, which serves students at the prestigious Eton College (the alma mater of Prime Minister Boris Johnson), which charges around £45,000 a year in tuition fees. She stepped down from the role in February. A spokesman for New & Lingwood declined to comment.
In 2017, Murthy also became a director of Digme, a London-based fitness company that entered management in February. Murty, who remains a director, held a 4.4 percent stake as of February. Catamaran’s other investments include holding a Wendy’s restaurant in India with British hedge fund manager Hugh Sloane.
Murthy’s fortune welcomed by Sunak
In April, it was revealed that Murthy had “non-domiciled” tax status in the UK, meaning she would not have to pay local tax on her overseas income, pushing her wealth – and her husband’s – up as a cost of living. news. The crisis began to engulf Britain. The anger prompted her to relinquish the status in April and caused Sunak’s approval ratings to plummet.
Murty did not respond to a request for comment, while a spokesman for Sunak declined to comment.
The chancellor, a former Goldman Sachs banker and hedge fund manager at Children’s Investment Fund and Theleme Partners, was previously seen as a front-runner to succeed Johnson as prime minister, but revelations about his family’s wealth have raised concerns about him. Out of touch with the average Brit.
Sunak announced on Thursday a 25% windfall tax on profits from oil and gas companies and pledged to hand out cash to millions of Britons facing sharp increases in energy bills and other expenses.
Murty and Sunak met while pursuing MBAs at Stanford University in the mid-2000s. They married in 2009 and still own a penthouse in California overlooking the ocean. In April, Sunak submitted questions to the Independent Adviser on Ministerial Interests about his wife’s tax status and his past possession of a U.S. green card. He was cleared for breaching ministerial codes.
Sunak previously announced in the official parliamentary register that Murty owns Catamaran Ventures, but did not provide details of its investment. When he became an MP in 2015, he transferred 50% of the company to Murty.
(This story has not been edited by NDTV staff and was automatically generated from the syndicated feed.)