In media profiles, Sunak’s allies described him as “impeccable, impeccable, very organized” and “quiet” and “organized”, qualities that fit a former university president at Winchester. No one voluntarily offers to be sympathetic or compassionate. When Sunak gave examples of people experiencing problems in parliament or personal interviews, such as last year in ‘Good Morning Britain’, Sunak included policies in response but offered no comfort.
Byrd, whose book is based in part on his own experiences, believes that boarding schools for all men emotionally empower their students. He says to survive, boys can show no weakness among their peers.
“If you suppress feelings for yourself, it will eventually become very easy to suppress the feelings of others,” he adds.
And while residences like Winchester can prepare students for advancement in politics, Bird says they create a worldview that is far from the norm.
“Money is central to everything, because everyone knows it costs a lot of money, boys included, but the real money is being stripped. “We simply take care of the everyday necessities of life for you,” Baird said.
“How can you actually think in terms of people struggling at five pounds and ten pounds?”
Hello cut the benefits
Sunak came under fire last year for scrapping a £ 20-a-week increase in universal credit that helped some of the poorest families during the pandemic. According to him, more than 200,000 people could have fallen into poverty as a result of the reduction research done by the Joseph Rowntree Foundation.
Just weeks before the cut was confirmed in July, the chancellor said planning permission had been sought to build a private swimming pool, gym and tennis court in the Grade II-listed Yorkshire mansion that Sunak and his wife Akshata Murti would build in 2015 for £ 1. Bought 5 million.
After several MPs from his party spoke out against the global credit cut, Sunack increased labor benefits in his autumn budget – but not enough to offset the cut.
He has a lot of money
The Georgian mansion in Sunaks, where locals describe how they party with excited staff pouring champagne from Magnum, is not the only property they own. There is also a £ 7 million five-bedroom house in Kensington, West London; an apartment, also in Kensington, which is believed to be held by the couple “just to visit family”; An apartment in Santa Monica, California.
The adviser’s extensive real estate portfolio is just one source of his wealth. After studying at Oxford University, Snack went to work for the American investment bank Goldman Sachs for four years. He left to pursue a business degree at Stanford University in California, where he said the encounter with influential figures in the multi-billion-dollar U.S. technology industry “left an imprint” on him.
From there, Sunak worked at hedge funds in London for a while. He was a partner in the Children’s Investment Trust (TCI) where he allegedly made millions of pounds from a campaign that helped launch the 2008 financial crisis.
Sir Chris Hoon, founder of the fund, paid himself a record £ 343 million in the first year of the pandemic. TCI is eventually owned by a company registered in the Cayman Islands, according to its calculations. Its charitable arm, the Children’s Investment Fund Foundation (CIFF), donated £ 255 million to charity last year (full disclosure: openDemocracy has received funding from CIFF since 2019).
He then left Sunak to co-found his own company Theleme, which had an initial fund of £ 536m – also registered in the Cayman Islands.
His financial interests are not very transparent
The Cayman Islands are one of the largest foreign tax and secret havens in the world. When an investment is made by a Cayman Islands hedge fund, “no one can know where the money is coming from,” said Alex Cobham, chief executive of the Tax Justice Network.
Not all the money that goes through the Cayman Islands is dirty, and hedge funds argue that they need to keep their investment strategies secret in order to be competitive.
However, Cobham said: “This is probably the best, and certainly the best known, way to let some dubious money go into bulk in the major financial markets.”
According to the Tax Justice Network, an estimated $ 483 billion (£ 357.62 billion) is lost annually in cross-border tax abuse by multinational companies and individuals hiding assets in refuges such as the Cayman Islands.
“Somehow, in the financial sector, we still have the idea that it’s fundamentally smart to manipulate the system,” Cobham said. “If it’s the people, the culture, that has entered public life, then we have a real problem,” Cobham said.
When Sinek became minister in 2019, he put the investments he had kept in finance from his years in a “blind fund”. These agreements are intended to avoid conflicts of interest by giving control of assets to a third party, but whether this act is in practice doubtful.
“These funds do not necessarily come with any legal mechanism to prevent the asset owner from dictating what is really happening, or to actually see any alleged blindness,” Cobham said.
“If politicians are willing to make the arrangements transparent, including legal documents, we may have some confidence in them,” he added.
Sunak expressed confidence in his entry in the Register of Ministers’ Financial Interests, but not its contents. The rest of his revelations are fairly minimal for a man whose net worth is estimated at £ 200 million.
Aside from the trust, he listed his apartment in London and the fact that his wife Akshata Murti owns a venture capital investment firm, Catamaran Ventures, which the couple co-founded in 2013.
Murti, who met Sunak at Stanford, is the daughter of Indian billionaire NR Narayana Murthy, who founded the information technology company Infosys. Her shares in that company alone are worth £ 430 million, a fortune greater than that of the Queen and enough to make her one of the richest women in Britain.
It is reported that the Murthy / Murti family (the Narayana children dropped the letter “h” from their name) invested part of their fortune through Catamaran Ventures, although how much is unclear. Sunak resigned from the company’s presidency in 2015.