Akshata Murty, wife of new British Prime Minister Rishi Sunak, earned 126.61 crore rupees ($15.3 million) in dividend income in 2022 from her stake in India’s second-largest IT company Infosys.
Ms. Murty, daughter of Infosys co-founder Narayana Murthy, owned 3.89 million shares, or 0.93%, of Infosys at the end of September, according to filings by the company with stock exchanges.
Its stake is worth Rs 5,956 crore (about $721 million) at Tuesday’s trading price of Rs 1,527.40 on BSE.
Infosys paid a final dividend of Rs 16 per share for the financial year 2021-22 on May 31 this year. For the current year, the company this month announced an interim dividend of Rs 16.5, according to the company’s stock filings.
The two dividends totaled Rs 32.5 per share or Rs 126.61 crore for Akshata.
Infosys is one of the best dividend paying companies in India. In 2021, it paid a total of Rs 30 per share dividend, which would have given Akshata a total of Rs 119.5 crore in that calendar year.
Sunak, 42, won the Conservative Party leadership race on Sunday and is now set to become Britain’s first Indian-born prime minister and its youngest leader in modern times.
While Sunak is a British national, his wife Akshata is an Indian citizen. His non-domiciled status, which allows him to earn money overseas without paying tax in Britain for up to 15 years, has been a divisive issue in the UK.
Akshata’s non-domiciled status became a topic of discussion in Britain when Sunak first entered the race to become prime minister in April this year.
At that time her spokesperson said that as an Indian citizen she could not hold citizenship of any other country and that ‘she has and will continue to pay UK tax on all her UK income’ . As the controversy snowballed, she then announced that she would pay UK tax on all of her worldwide income out of a ‘British sense of fairness’.
It is unclear how much tax she paid in the UK on dividend income accrued to her after April – Rs 16 per share final dividend for the financial year 2021-22 (April 2021 to March 2022) paid on 31 May 2022, and Rs 16.5 an interim stock dividend for the financial year 2022-23 which is due to be paid on October 27.
Born in her mother Sudha Murthy’s hometown of Hubballi in North Karnataka, Akshata was educated in Bengaluru, before moving to Claremont McKenna College in California, where she double majored in economics and French.
She earned a fashion design degree at the Fashion Institute of Design and Merchandising in Los Angeles, which followed a short stint at Deloitte and Unilever.
She then pursued her MBA at Stanford where she met Rishi Sunak.
The two married in 2009. The couple, who own an extensive property portfolio, have two children, Krishna and Anoushka.
They live in a £7million home in Kensington. They also own an apartment in Kensington, a mansion in the Rishi constituency in Yorkshire and a penthouse in California.
The son of a pharmacist mother and a doctor father, Sunak was educated at one of the most renowned schools in England, Winchester, then Oxford. He spent three years at Goldman Sachs Group Inc. and then earned an MBA from Stanford, California, where he met his wife Akshata Murty.
According to Infosys documents, the developers own 13.11% of the company. The Murty family holds 3.6% (Narayana Murthy holds 0.40% of the capital, his wife Sudha 0.82%, his son Rohan 1.45% and his daughter Akshata 0.93%).
Other promoters include co-founder S Gopalakrishnan, Nandan M Nilekani and SD Shibulal and their families.