Rishi Sunak: How much does he earn as Prime Minister of the UK?

Rishi Sunak became the UK's Prime Minister in October 2022. Since, he has faced quite a lot of controversy. He's had his fair share of challenges while in No.10, from dealing with recession to being constantly criticised for being 'out-of-touch' with the British public because of his privately owned wealth and that of his wife.

Discover our latest podcast

Although Rishi Sunak hasn’t always been a millionaire, he managed to flip his financial situation around - both thanks to hispaid-for education and lucrative jobs and his billionaire heiress wife Akshata Murty.

The PM’s £15 million property portfolio, amongst other riches, makes him one of the wealthiest politicians in Britain and it’s easy to forget that he still gets a taxpayer-funded salary every month.

How much does Rishi Sunak make as PM?

As outlined by the government of the UK, a British Prime Minister is entitled to an annual salary of £80,807, which means he claims around £75,440—which is half the salary of what Sadiq Khan earns as Mayor of London, surprisingly.

That being said, Rishi Sunak's yearly earnings are made up of two salaries—one for being PM, and another for being MP of Richmond in North Yorkshire. That role got him an additional £86,584 in 2023 and the amount has only risen starting 1 April 2024 to £91,346.

That gives Rishi Sunak a combined annual remuneration of £172,153.

Although his salary is a rather modest number compared to his other earnings and his fortune, it is still eye-watering for the majority in the country where the average annual pay stands at around £25,000.

On top of the official wage, Rishi Sunak and his family have the right to live in the flat above the offices of 10 Downing Street and enjoy the use of the Prime Minister’s official countryside residence at Chequers in Buckinghamshire, with all bills paid.

Rishi Sunak’s salary compared to other world leaders?

Despite his salary placing him in the top 1% of high earners in the UK, Rishi Sunak gets less than other world leaders.

The US President Joe Biden is entitled to $400,000 / £312,000 annually.

The Prime Minister of Canada Justin Trudeau gets CAD 400,000 / £228,000 per annum.

Reported salaries for the German Chancellor Olaf Scholz vary from €30,000 / £26,000 to €35,000 / £31,000 per month, while President of France Emmanuel Macron is compensated approx. €180,000 / £153,000 annually.

Rishi Sunak's other earnings

While the salary of a PM is lower in the UK that other countries, Rishi Sunak doesn't solely rely on his earnings from office to make a living. He continues to receive income from his investments in a US-based fund which reportedly made him a further £1.8 million in 2021/22 tax year.

Due to the risk of any potential conflict of interest, Rishi Sunak isn’t supposed to know where his money is invested. It is therefore listed as a ‘blind investment arrangement’ in the Register of MPs earnings.

In March 2023, the Prime Minister published his tax return for 2021/22 which showed that he earned a total of £1,970.992 for that year, on which he paid £432,493 in tax. In February 2024, Sunak published his tax returns for 2022/23 and it revealed that he earned even more money. He paid a tax of £508,308 after earning over £2.2 million.

Moreover, in May 2024, the Sunday Times' rich list published that both Rishi Sunak and Akshata Murty's personal fortune grew by £120 million.

The couple's personal fortune

The figures, published by several media including The Guardian, show that the couple's wealth stood at an estimated £651 million—up from the £529 million reported in 2023. However, the amount is significantly lower that what it was in 2022, which was a whopping £730 million.

According to The Guardian, the increase was likely linked to a growth in shares they hold at Infosys, an IT firm co-founded by Sunak's father-in-law, Narayana Murty.

Reports were quick to point out that their estimated earnings made the couple richer than the monarch of the country, King Charles—and it's not the first time. In 2022, they were ranked higher that Queen Elizabeth in the rich list as well.

As per the BBC, Downing Street was asked to comment on their appearance on the rich list and they brushed off the question by saying it was a 'private family matter'. They added:

When he's been asked this question before he's responded and asked that people judge him by his actions, including to support livelihoods during the pandemic though the furlough scheme as an example.