According to LinkedIn, Akshata Murty is a director of three different companies. We talk about what these companies do and Murty’s role in them.
The wife of British Prime Minister Rishi Sunak, Akshata Murty, recently made headlines for allegedly using her “non-domiciled” status to save millions of dollars in taxes and hide her foreign earnings from British tax authorities.
These Three Companies Are Also Run By Akshata Murty
The 42-year-old woman, who was born in India and holds an Indian passport, said she will pay taxes in the UK on “all worldwide income” from April 2022. So what worldwide income is it, and where does it come from?
On LinkedIn, Murty is listed as a director of three companies: Catamaran Ventures, private equity and venture capital firm; Digme Fitness, a gym chain; and New & Lingwood, a business that sells men’s clothing. We talk about what these companies do and Murty’s role in them.
According to the Bloomberg Billionaires Index, Murty has a net worth of about $1.3 billion. That’s because she has a stake in Infosys, the large software company her father founded. Since Murty’s name surfaced as a shareholder in 2001, shares in the Bangalore-based company have risen more than 2,000%. This year, however, they have struggled due to a general sell-off in the technology industry.
Akshata Murty: The Millionaire Wife Of Rishi Sunak
Akshata Murty said her 0.9% stake in Infosys was not only an investment, but also a tribute to her father’s hard work, of which she was “incredibly proud.” The Guardian newspaper reports that Murty has received £54.5 million ($71 million) in dividends from Infosys, the family business, since 2015.
U.K. Prime Minister Sunak indicated in the official parliamentary register that Murty owns the private investment firm Catamaran Ventures UK, but he did not say what investments it makes. When he became a member of Parliament in 2015, he gave Murty half of the company he owned.
Through Catamaran Ventures, Murty is known to have ties to some of the world’s wealthiest families.
Murty’s Family Runs Catamaran Ventures
Murty’s family’s main investment company is called Catamaran Ventures. It is based in Bangalore and employs about 15 people who manage more than $1 billion worth of investments in e-sports, insurance and Elon Musk’s Space Exploration Technologies Corp.
Akshata Murty has been a director at Catamaran since May 2013, according to her LinkedIn profile. She is the only person responsible for and involved in the U.K. office.
She said on LinkedIn that Catamaran’s family offices are in London and Bangalore. She focuses on local brands in the U.K. that want to grow strategically but need money, management expertise and networking partners. According to its description, one of its main goals is to grow internationally.
She Has Been The director Of New & Lingwood
Since 2017, she has been director of New & Lingwood, a store that sells clothes to students at the prestigious Eton College in England, where Prime Minister Boris Johnson went to school and where tuition costs about £45,000 a year. She left the job in February. A representative for New & Lingwood declined to comment.
On its website, the company states that New & Lingwood is a British heritage brand with four stores in the United Kingdom and one in New York, as well as a temporary store in Marylebone. The company has been dressing Eton College students since it opened in Eton in 1865.
In 2017 Murty Also Became A Director At Digme
In 2017 Akshata Murty also became a director at Digme, a London-based fitness company that went into administration in February. Murty, who is still a director, owned a 4.4 percent stake as of February.
As per the company website, it offers fitness programmes at studios in Bank, Covent Garden, Moorgate and Richmond, besides home programmes.