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Richest politicians

Richest politicians

When we talk about a lucrative career, the first thing to spring up is either singers or actors - who make enviable fortunes with sponsorships and endorsements. By contrast, despite wielding considerable power and respect from the public, politicians are not always known for their wealth. It is not inherently wrong, however, for those lawmakers to earn profitable income one way or another. Whether their wealth comes from extra-parliamentary business ventures or from family inheritance, these politicians know how to earn serious money.

photo 1/20 © Max Mumby/Indigo 

Richest politicians

Richest politicians

As The Sunday Times Rich List 2022 was published in May, Tory hopeful Rishi Sunak became the first ever frontline politician to feature on the annual ranking as the 222nd wealthiest person in the UK. With that in mind, read on to see which politicians in the UK follow Sunak in terms of net wealth.

photo 2/20 © Anthony Devlin

Rishi Sunak, Chancellor of the Exchequer: £200 million

Rishi Sunak, Chancellor of the Exchequer: £200 million

Born on 12 May 1980, Rishi Sunak is an eminent member of the Conservative Party. From 2019 to 2020, the 42-year-old politician served as the Chief Secretary to the Treasury. He then became the Chancellor of the Exchequer in 2020 before stepping down from his post in 2022, initiating the wave of ministerial resignations under Boris Johnson's premiership. He is currently one of the two finalists, alongside Liz Truss, in the race to become the next UK Prime Minister.

photo 3/20 © Anthony Devlin

His wife is a billionaire heiress

His wife is a billionaire heiress

Graduating from Oxford University in 2001, Sunak quickly became an expert in financial management, having worked for Goldman Sachs, Catamaran Ventures, and other hedge funds. He is currently the wealthiest MP (Member of Parliament) in the House of Commons, owning several penthouses and properties across the country. The overwhelming proportion of his wealth, however, comes from his wife, Indian heiress Akshata Murty, whose father is the co-founder of Indian tech giant Infosys.

photo 4/20 © Karwai Tang

Jacob Rees-Mogg, Brexit Opportunities Secretary: Between £55 million and £150 million

Jacob Rees-Mogg, Brexit Opportunities Secretary: Between £55 million and £150 million

Born on 24 May 1969, Jacob Rees-Mogg served as Leader of the House of Commons and Lord President of the Council from 2019 to 2022. He is considered one of the most reactionary members of the Conservative Party with a traditionalist attitude toward social issues and his opposition to the EU. During the Brexit referendum in 2016, he was one of the most active politicians to campaign for the UK to leave the European Union.

photo 5/20 © Max Mumby

He founded an asset management firm

He founded an asset management firm

Considered a wealthy MP in Parliament, Rees-Mogg generates most of his income as a major shareholder in Somerset Capital. It is a hedge fund management firm founded in 2007 by Rees-Mogg himself and another asset manager. Despite stepping down as CEO in 2010, he continues to receive lucrative dividend payments as a partner of the firm.

photo 6/20 © Chris J. Ratcliffe

Nadhim Zahawi, Education Secretary: Up to £100 million

Nadhim Zahawi, Education Secretary: Up to £100 million

Born on 2 June 1967, Nadhim Zahawi was a British politician with Iraq roots. From 2021 to 2022, Zahawi served as Secretary of State for Education until he replaced Rishi Sunak as the Chancellor and has since been incumbent.

photo 7/20 © Wiktor Szymanowicz

He owns various properties

He owns various properties

Zahawi is one of the most controversial politicians in the UK, garnering criticism for his vast governmental expenses, tax avoidance, and luxury lifestyle. He owns an industrial estate, three properties in London, and an extravagant mansion in Dubai, to name a few. More than half of it was purchased while the 55-year-old politician served as a government minister.

photo 8/20 © Hollie Adams

Alister Jack, Scotland Secretary: £20 million

Alister Jack, Scotland Secretary: £20 million

Born on 7 July 1963, Alister Jack has served as Secretary of State for Scotland since 2019. Since 2017, the 59-year-old politician has been the Member of Parliament (MP) for Dumfries and Galloway.

photo 9/20 © Chris J. Ratcliffe

Jack's impressive business portfolio

Jack's impressive business portfolio

A prominent businessman, Jack used to chair various management firms, including Annan Fishery Board and Trust, Fisheries Management Scotland, and Galloway Woodlands. He also earns serious money from his tent-hire and self-storage companies, and from his declared shares in 16 companies.

photo 10/20 © Wiktor Szymanowicz

Cox is a Queen's counsel

Cox is a Queen's counsel

Since becoming a full-time working member of the Parliament, Cox has earned nearly £6m from his work from additional ventures. In 2014, the politician's extra-parliamentary salary earned him a whopping amount of £820,867, 12 times his annual MP income. Moreover, he also makes serious money as a Queen's counsel.

photo 12/20 © Simon Dawson

Michael Gove, Levelling Up Secretary: Up to £3 million

Michael Gove, Levelling Up Secretary: Up to £3 million

Born on 26 August 1967, Michael Gove is one of the most long-standing members of the conservative party, having served as Member of Parliament for Surrey Heath since 2005. From 2010 to 2014, under David Cameron's premiership, Gove served as education secretary, introducing many controversial school reforms and plans.

photo 13/20 © Simon Dawson

Gove's several governmental roles

Gove's several governmental roles

Throughout his political career, Gove has been in charge of various positions, such as Education Secretary, Chief Whip of the House of Commons, and Justice Secretary, to name a few. In the 2022 election run, Gove kept a backbench position, showing support for Tory hopeful Rishi Sunak.

photo 14/20 © Finnbarr Webster

Priti Patel, Home Secretary: Up to £2.2 million

Priti Patel, Home Secretary: Up to £2.2 million

Born on 29 March 1972, Priti Patel has served as UK Home Secretary since 2019. Having been a member of the Conservative Party since 1991, Patel was one of the most prominent advocates for the Vote Leave campaign for Brexit in 2016. A controversial political figure, Patel has often made headlines with her hardline view on social issues and bullying allegations.

photo 15/20 © Wiktor Szymanowicz

Patel was a business consultant

Patel was a business consultant

As an MP, the 48-year-old politician earns around £79,468 annually. However, from 2018 to 2019, it is reported that she earned up to £120,000 thanks to other extra-parliamentary employment. One of her additional jobs was as a non-executive director of Accloud PLC, a global business software provider. Patel gave consultations to the firm and received £45,000 a year before stepping down from the post when being appointed Home Secretary.

photo 16/20 © Max Mumby

Sajid Javid, Health Secretary: £276,000

Sajid Javid, Health Secretary: £276,000

Born on 5 December 1969, Sajid Javid served as Home Secretary under Theresa May's premiership before being promoted to Chancellor when Boris Johnson became UK Prime Minister. Despite being a hardline Eurosceptic, Sajid surprisingly opted for Remain during the 2016 Brexit referendum. In 2019, Javid was a contestant in the Tory leadership election but was eliminated in the fourth round, shortly before Boris Johnson was appointed Prime Minister.

photo 17/20 © Wiktor Szymanowicz

Javid was a prominent banker

Javid was a prominent banker

Most of Javid's wealth is thanks to his time working in the finance sector. He began his post-graduation career with the Chase Manhattan Bank, where he became the youngest Vice-President in 1992, before becoming a managing director at Deutsche Bank in 2004. Totally, he had 18 years of experience in the banking career.

photo 18/20 © Neil Mockford/

Boris Johnson, Prime Minister: £157,372

Boris Johnson, Prime Minister: £157,372

Born on 19 June 1964, Boris Johnson became the UK Prime Minister in 2019 following the premiership of Theresa May. Earlier in his career, the 58-politician served as mayor of London (from 2008 to 2016) and as Secretary of State of Foreign Affairs (from 2016 to 2018). His premiership, however, was marred by a succession of controversies, most notably the Partygate scandal that eventually led to his downfall and resignation as UK PM in 2022.

photo 19/20 © Mark Cuthbert

Boris Johnson used to be a journalist

Boris Johnson used to be a journalist

During his tenure as UK PM, Boris Johnson was entitled to an annual salary of just over £160,000. In his early career, Johnson made serious cash as a political columnist for The Telegraph, receiving a whopping 275,000 for a weekly column.

photo 20/20 © Mike Marsland

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