PM's wife Akshata Murty loses £50m as shares in father's firm plummet

A bad day for the Sunaks as PM’s wife Akshata Murty loses nearly £50m as value of shares in her billionaire father’s Indian IT firm plummet

• The value of Infosys tumbles by more than 9% after it posted weak results

Rishi Sunak’s wife Akshata Murty is estimated to have lost almost £50million today due to the plummeting value of shares in the Indian IT firm founded by her father.

Ms Murty owns just under 1 per cent of shares in Infosys – the multi-billion pound technology company headquartered in Bangalore.

The value of the firm, set up by billionaire businessman Narayana Murthy, tumbled by more than 9 per cent today after posting weak quarterly results and poor revenue growth forecasts.

This was said to be the biggest drop in the value of Infosys, India’s second-largest IT services exporter, since March 2020.

According to Bloomberg, the fall in the value of firm’s shares saw Ms Murty lose around £49million ($61million).

Rishi Sunak’s wife Akshata Murty is estimated to have lost almost £50million today due to the plummeting value of shares in the Indian IT firm founded by her father

Ms Murty owns just under 1 per cent of shares in Infosys – the multi-billion pound technology company headquartered in Bangalore.

Earlier today, it was revealed that Mr Sunak is under investigation by the House of Commons’ sleaze watchdog over one of his wife’s investments

But the Sunaks are unlikely to struggle, as the PM’s wife stake in Infosys is still estimated to be worth more than £450million.

It was recently reported that Ms Murty will receive nearly £13million in dividend payments from her Infosys shares this financial year.

Earlier today, it was revealed that Mr Sunak is under investigation by the House of Commons’ sleaze watchdog over one of his wife’s investments.

Daniel Greenberg, the Parliamentary Commissioner of Standards, has launched a probe following criticism that the PM did not mention Ms Murty’s stake in Koru Kids when discussing the £4billion childcare boost in the Budget.

Last month Downing Street denied that Mr Sunak had broken any rules by failing to mention his wife’s shareholding in the childcare business.

She is listed as a shareholder in the London-based agency in Companies House documents as recently as March 6 this year.

Koru Kids is set to benefit from the major shake-up of the childcare sector by Mr Sunak and Chancellor Jeremy Hunt announced last month.

It is not the first time the financial affairs of Ms Murty have caused embarrassment for Mr Sunak.

He faced a bitter row last year when it emerged his wife held non-dom tax status.

In Febraury, it was revealed Ms Murty held shares in a collapsed firm that received nearly £300,000 in taxpayer-funded loans under schemes set up by Mr Sunak when he was Chancellor.

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