Al-Falih: 1,238 foreign investors obtain premium residency in Saudi Arabia    Irish PM apologizes for walking away from care worker    Several dead as Storm Bert wreaks havoc across Britain    Most decorated Australian Olympian McKeon retires    Adele doesn't know when she'll perform again after tearful Vegas goodbye    'Pregnant' for 15 months: Inside the 'miracle' pregnancy scam    Ukraine losing ground in Russia's Kursk region, says military source    Hezbollah fires rocket barrages into Israel after deadly Beirut strikes    Al Ittihad claims top spot in Saudi Pro League after victory over Al Fateh    Do cigarettes belong in a museum?    Al-Jubeir discusses with EU officials enhancing bilateral cooperation    Saudi Arabia to host 28th Annual World Investment Conference in Riyadh    Saudi Arabia allows licensed flour milling companies to export flour    Saudi Arabia joins international partnership initiative to boost hydrogen economy    With 25 million monthly active users, Snap Inc. expands presence in Saudi Arabia to serve thriving community of creators, partners and clients    Riyadh Emir inaugurates International Conference on Conjoined Twins in Riyadh    Saudi delegation participates in the 7th U20 Deans Summit in Brazil    Al Khaleej stuns Al Hilal with 3-2 victory, ending 57-match unbeaten run    Al Khaleej qualifies for Asian Men's Club League Handball Championship final    Katy Perry v Katie Perry: Singer wins right to use name in Australia    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Rishi Sunak and Akshata Murty among UK's wealthiest
Published in The Saudi Gazette on 20 - 05 - 2022

Chancellor Rishi Sunak and his wife Akshata Murty have made the Sunday Times Rich List of the UK's wealthiest 250 people for the first time.
Their joint £730m fortune ranks them at 222 of the paper's annual list.
Recently, Ms Murty's tax affairs came under scrutiny after it was revealed she had "non-dom" status - meaning she did not pay UK tax on overseas income.
Ms Murty, the daughter of an Indian IT billionaire, later agreed to pay UK taxes on all her earnings.
Her 0.9% stake in her father Narayana Murty's IT company Infosys, estimated to be worth around £690m, earned her £11.6m in dividend income last year.
It is estimated her use of non-dom status could have saved her £20m in taxes.
The Sunday Times said the couple had made their first appearance on the Rich List now because it was only able to confirm Ms Murty's stake in her father's business over the last year.
Sunak was later cleared of breaching the ministerial code after referring himself to Prime Minister Boris Johnson's standards adviser to check if he had properly declared all his interests.
A "non-dom" tax designation, short for "non-domiciled individual", is a term used for a UK resident whose permanent home, or domicile, is outside the UK.
Someone with the status only pays UK tax on money earned in the UK, but does not have to pay any tax to the British government on money made elsewhere in the world (unless they pay that money into a UK bank account).
Meanwhile, the latest ranking of the 250 richest people in Britain also revealed a record 177 billionaires in the UK this year, the Sunday Times said.
Overall, the richest individuals and families in the UK this year are worth £711bn, an 8% rise on last year's £658bn.
The expanding fortunes of Britain's wealthiest people comes amid a growing cost of living crisis, with UK inflation rising sharply to 9% in the year to April - meaning prices are rising at their fastest rate for 40 years.
In February, Sunak announced a £9bn package of measures, including a £150 discount to council tax and a £200 loan for energy bills in the autumn, but he is under increasing pressure to offer more support to households as energy bills and food prices continue to rise.
Sri and Gopi Hinduja, who run the India-based conglomerate Hinduja Group, topped the list with their £28.47bn fortune - a growth of more than £11bn in a year.
Entrepreneur Sir James Dyson and his family jumped to second in the rich list after a £6.7bn increase to £23bn.
However, Chelsea owner and Russian steel magnate Roman Abramovich's wealth halved in a year to £6bn - dropping him 20 places from his 2021 ranking to 28th on this year's rich list.
The oligarch is the biggest loser of all in this year's Rich List, the Sunday Times said.
The plummet in Abramovich's fortunes followed his being sanctioned over the war in Ukraine, the enforced sale of Chelsea and the sharp fall in his shares in steel company Evraz.
The premier league club is expected to be sold in late May, after £4.25bn deal to purchase it was agreed with a consortium led by American businessmen Todd Boehly.
Another notable billionaire with ties to Russian President Vladimir Putin whose fortunes have suffered since sanctions were imposed, if not so dramatically, is Uzbek-born Russian oil oligarch Alisher Usmanov.
His estimated worth dropped by £3bn to £10bn, falling from sixth to 11th place.
Who makes the top 10?
According to the Sunday Times, the 10 richest families and individuals in the UK, the estimated value of their fortunes and the primary source of their wealth are:
Sri and Gopi Hinduja and family - £28.47bn (industry and finance)
Sir James Dyson and family - £23bn (household goods and technology)
David and Simon Reuben and family- £22.26bn (property and internet)
Sir Leonard Blavatnik - £20bn (investment, music and media)
Guillaume Pousaz- £19.259bn (online payments)
Lakshmi Mittal and family - £17bn (steel)
Christoph Henkel and family - £15bn (chemicals)
Guy, George, Alannah and Galen Weston and family - £13.5bn (retailing)
Kirsten and Jorn Rausing - £12bn (inheritance and investment)
Charlene de Carvalho-Heineken and Michel de Carvalho - £11.42bn (inheritance, brewing and banking) — BBC


Clic here to read the story from its source.