Nadhim Zahawi net worth: How much is the new Chancellor worth compared to Rishi Sunak?
Nadhim Zahawi arrives at Treasury in new role as Chancellor
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Nadhim Zahawi has stepped into the role of Chancellor of the Exchequer from today after Rishi Sunak handed in his resignation. Zahawi has been a Member of Parliament for Stratford-on-Avon since 2010. But what is his net worth, and how does it compare to Rishi Sunak?
Nadhim Zahawi is said to have an estimated net worth of up to £100million to Express previously reported.
Updated records from Companies House show that Zahawi’s wife Lana, banked a £1.1million profit last year from the property empire she co-founded with him.
The return shows the value of the property holdings stood at £83.7million as of June last year.
Zahawi helped his wife to set up the business – Zahawi & Zahawi – in 2010, and it comprises a livery stable at their home in Stratford-Upon-Avon.
net worth
The couple is said to reside in a £20million London townhouse and they also have a property in Warwickshire and another in Dubai.
Zahawi’s wife Lana also owns two superstores as part of their property empire.
Last September, she bought a £6.3million plot which includes a giant Co-op and car park in St Neots, Cambridgeshire, Coventry Live reported.
Another firm controlled by Mrs Zahawi owns land worth £18million containing an Asda megastore in Brierley Hill, West Midlands.
Rishi Sunak is said to have an estimated net worth of £200million, Express reported.
In terms of his salary, while working as an MP for the Conservative Party, Sunak had a base of £79,468.
This is in addition to his former Chancellor’s salary of £71,090.
Before becoming an MP in 2015, Sunak had a “successful career” in finance.
He was employed by the prestigious American investment bank Goldman Sachs.
He then moved on to hedge fund management.
In 2010, Sunak was the co-founder of a large investment firm where he worked with companies in the likes of Silicon Valley, California.
While Sunak’s career in banking undoubtedly makes the former Chancellor wealthy, the bulk of his wealth comes from his marriage.
His wife is the daughter of one of India’s most affluent entrepreneurs, Narayana Murthy, the founder of IT company Infosys.
Together, the Sunaks are said to have a combined fortune of £730million.
He was previously named “the richest man in the House of Commons” due to his former career and marriage to Akshata Murty.
As a result, the former Chancellor made his debut on the Sunday Times Rich List earlier this year.
According to the list, the Sunaks are the 222nd wealthiest people in the UK.
Akshata Murty’s father is the sixth richest man in India.
Sunak’s wife runs a fashion label and is also the owner and director of a UK-based venture capital firm Catamaran Ventures UK Ltd.
The Sunaks are also said to own at least four properties, as well as his home residences – a five-bedroom home in Kensington, which is thought to be worth around £7million.
He is also said to own a large manor house in his North Yorkshire constituency near the village of Kirby Sigston.
The couple also owns a property in Santa Monica, California and a further flat in central London.
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