PORTRAIT. At 42, Rishi Sunak became the youngest Prime Minister in UK history, inheriting a country in crisis. A perfect representative of the British Indian elite, he now faces an explosive charge as the nation enters recession. But behind his discreet demeanor lies a man shaped by Stanford, Goldman Sachs, and a meteoric political rise.

Early Life and Education

Born in Southampton to Indian parents—a father from Kenya who worked as a doctor, and a mother from Tanzania who was a pharmacist—Rishi Sunak excelled academically. He attended Oxford, the breeding ground for UK elites, where he was more interested in finance than politics. He spent his free time at the university's investment club, dabbling in stock trading. After Oxford, he joined Goldman Sachs as an analyst in 2001.

He then moved to California to pursue an MBA at Stanford University, which he later called a life-changing experience that taught him to “think bigger.” At Stanford, he co-founded Theleme Partners, a hedge fund, with French entrepreneur Patrick Degorce. Despite his claims of influential professors like Nobel laureate Paul Romer, few at Stanford recall him. “I have no memory of ever interacting with him,” Romer said.

Financial Career and Marriage

Sunak's time at Goldman Sachs also left little impression. A former colleague described him as “very chic, with a white-toothed smile, but very discreet and not easily bonding.” However, his financial acumen earned him a role managing the fortune of his father-in-law, Indian billionaire Narayana Murthy, founder of Infosys, after marrying Akshata Murthy in 2009. With a net worth of £835 million (€935 million) according to the Sunday Times—double that of King Charles III—Sunak is one of the wealthiest occupants of 10 Downing Street. His wealth is visible in his £4,000 Henry Herbert suits, Prada loafers, and a Georgian manor with a private island in Yorkshire.

Political Ascent

Entering politics in 2015, Sunak was elected MP for Richmond, a Conservative stronghold in Yorkshire, a region hit by deindustrialization. A practicing Hindu, he swore his oath on the Bhagavad Gita—a first in British history—earning the nickname “Maharaja of the Yorkshire Dales.” His rise was rapid: under-secretary for Housing under Theresa May in 2017, Chief Secretary to the Treasury under Boris Johnson in 2019, and Chancellor of the Exchequer in 2020 after Sajid Javid resigned. This promotion came with a price: he had to let Dominic Cummings oversee the budget, showing Sunak's ambition to gain power at any cost.

As Chancellor, he implemented the UK's “whatever it takes” response to COVID-19, launching costly loan programs for businesses. Pragmatic yet ideological, he was influenced by his California experience, advocating for an innovative economy. A staunch early supporter of Brexit, Sunak argued that leaving the EU gave Britain the flexibility to adapt to a fast-changing world.

Becoming Prime Minister

After losing the Conservative leadership race to Liz Truss in September 2022, Sunak returned six weeks later when Truss's disastrous mini-budget caused market chaos. He became PM on October 25, 2022, the youngest in history and the first of Indian descent. However, his position is fragile: he lacks a popular mandate, having never faced a general election, and his party is deeply divided. He reappointed Suella Braverman as Home Secretary despite her controversial remarks, a move seen as pandering to the right wing. Chancellor Jeremy Hunt, appointed by Truss, has overshadowed Sunak by delivering a successful revised budget, raising doubts about Sunak's authority.

Key Challenges

Sunak faces a recession with high inflation, widespread strikes, and overwhelmed hospitals. In January 2023, he gave a speech vowing to “reverse the slow acceptance of decline, reject pessimism and fatalism.” But critics like Alastair Campbell note he is more rational than Johnson or Truss, yet not necessarily better than predecessors like David Cameron. On foreign policy, Sunak has sought to rebuild ties with France, signing a deal to curb illegal Channel crossings, and has taken a harder line on China, declaring the “golden age” over after the arrest of a BBC journalist. He remains moderate on the Northern Ireland Protocol, hoping to avoid trade tensions with the EU.

What He Likes and Dislikes

• Likes: Star Wars, video games, Southampton FC, cricket.
• Dislikes: Intolerance, lack of initiative, career planning, tabloid press.

What Others Say

• William Hague: “Rishi Sunak has what it takes to succeed at No. 10. His reputation shows he's an effective leader who can win hearts and do the job.”
• Suella Braverman: “We need a PM who can get the support of the whole Conservative family.”
• Alastair Campbell: “Sunak is better than Boris Johnson and Liz Truss. But better than Theresa May or David Cameron? I don't think so.”
• Peter Ricketts: “On economics, his DNA is Tory. For the rest, we don't really know his convictions, especially in foreign policy.”
• Keir Starmer: “Even his own side knows he's not on the side of workers. That's why he lost to Truss in the only election he contested.”

With the next general election expected in 2024, Sunak must navigate a narrow path. His discreet style may have worked in finance, but as PM, he must prove his political mettle. Whether he can hold Downing Street against a resurgent Labour Party remains uncertain.

Source: Challenges News