Akshata Murthy, wife of UK Chancellor Rishi Sunak, has forged ties with some of the richest families in the world through her private investment firm, Catamaran Ventures UK.
Previously unconfirmed filings show that Murthy’s family office was an early supporter of dara5, a private investment community for “next generation leaders of the world”, co-founded in 2019 by the Al-Thani family, a member of Qatar’s ruling dynasty. Catamaran has also acquired a partnership with The New Craftsmen, a luxury British furniture marketplace whose shareholders include Rupert Murdoch’s eldest daughter, the Prudence and Al Tajir family, and the Emirati owners of the Park Tower Hotel in London’s Knightsbridge District.
According to the Bloomberg Billionaires Index, the 42-year-old Murthy, who was born in India and is still an Indian citizen, according to the Bloomberg Billionaires Index, has about $ 1.2 billion in assets for his stake in software giant Infosys Limited, founded by his father Narayan Murthy. Shares of the Bangalore-based company have risen more than 2,000% since its first public offering as a shareholder in 2001, although they have struggled to sell a wide range of technologies this year.
Catamaran Ventures is the main investment firm of the Murti family based in Bangalore. Narayan Murthy is the chairman of the firm, which employs about 15 people in India and oversees the ারের 1 billion holdings in e-sports, insurance and Elon Musk’s Space Exploration Technologies Corporation.
Akshat Murthy describes Catamaran Ventures on LinkedIn as a family office in London and Bangalore that focuses on local brands in the UK that require capital, management skills and network partners. He is the sole director and shareholder of the British branch.
Murthy has helped run some of his UK investments. He became a director of New & Lingwood in 2017, an outfit for students at the prestigious Eaton College in England – Prime Minister Boris Johnson’s Alma Mater – which charges about 45,000 tuition fees a year. He stepped down from the role in February. A New & Lingwood spokesman declined to comment.
In 2017, Murthy also became a director of the London-based fitness company Digme, which went into administration in February. Murthy, who is still a director, owned 4.4% of the shares as of February. Catamaran’s other investments include Hugh Sloane, a British hedge fund manager with a company that launched Wendy’s Restaurant in India.
Murthy’s Wealth Hit Sunak Popularity
The idol, which was revealed in April to enjoy “non-resident” tax status in the UK, meaning she did not pay any local taxes on foreign income, pushed her assets – as well as her husband’s – into the news as a living expense. The crisis began across Britain. Anger prompted him to relinquish that status in April and contributed to a significant drop in Sunak’s approval ratings.
Murthy did not respond to a request for comment, while a spokesman for Sunak declined to comment.
The chancellor, a former Goldman Sachs Group banker and manager of the Children’s Investment Fund and Thalem Partners’ hedge fund, had previously seen Johnson as the front-runner to succeed him as prime minister, but raised concerns about his family’s wealth. .
On Thursday, Sunak announced a 25% windfall tax on oil and gas companies’ profits and promised a cash handout to millions of Britons facing sharp increases in energy bills and other emissions.
Murthy and Sunak met while studying for an MBA at Stanford University in the mid-2000s. They married in 2009 and still own a property in California, a penthouse that overlooks the ocean. In April, Sunak referred himself to an independent adviser to the ministers’ interests on his wife’s tax status and past ownership of a U.S. green card. He has been acquitted for violating the rules of the ministry.
Sunak had earlier announced in the official parliamentary register that Murthy owns Catamaran Ventures, but did not give details of his investment. After becoming a Member of Parliament in 2015, he transferred 50% of his stake in the company to Murthy.
(This story was not edited by NDTV staff and was automatically generated from a syndicated feed.)