LONDON – British Prime Minister Rishi Sunak’s wife Akshata Murty lost about £49 million (S$81 million) on Monday, after shares in Infosys tumbled the most since he took office.

Ms Murty owns a 0.94 per cent stake in the Indian software giant co-founded by her father, Mr Narayana Murthy.

The company’s share price nosedived on Monday after its guidance painted a negative outlook for India’s technology sector, leading to a wave of downgrades by brokers. It closed 9.4 per cent down, the biggest drop since March 2020.

While the paper loss is a fraction of the Sunak family’s wealth – Ms Murty’s stake is still worth more than £450 million – it also serves to highlight the gulf between the Prime Minister and ordinary Britons struggling in a cost-of-living crisis.

Mr Sunak’s office declined to comment.

Ms Murty’s wealth and outside interests have been a recurring theme in her husband’s political career.

Last year, it emerged that she holds non-domicile status and had not been paying British tax on overseas earnings. She said her arrangements were “entirely legal”, but also opted to start paying British taxes on those earnings.

In a separate development on Monday, British Parliamentary Commissioner for Standards Daniel Greenberg opened an inquiry into whether Mr Sunak failed to declare a relevant interest relating to a minority stake owned by his wife in a childcare company.

Mr Sunak’s office said the interest had been “transparently declared” and that the Premier would cooperate with Mr Greenberg.

The Prime Minister in March disclosed details of his own financial affairs, showing that he paid more than £1 million in UK taxes over the past three years.

His earnings from shares and capital gains easily eclipsed his political salary. BLOOMBERG