Rishi Sunak has claimed the crown to be Britain's next Prime Minister after Penny Mordaunt crashed out of the Tory leadership race - and while he will be the first person of colour to be in the top spot in politics, he will also be the first PM to have more wealth than the country's monarch.
Rishi, who automatically became PM on Monday after Penny failed to secure more than 100 votes from fellow MPs, along with his wife, Akshata Murthy, sits on a humongous combined fortune of £730million, as valued by the Sunday Times Rich List 2022. It is more than twice the wealth of King Charles III and Queen Consort Camilla - estimated to be around £300m - as pointed out by MP Nadia Whittome.
Taking to Twitter, Ms Whittome added: "Remember this whenever he talks about making 'tough decisions' that working-class people will pay for." Just like the King, Mr Sunak, who in the first leadership race of the year came second to Liz Truss, boasts a buoyant property portfolio, but not quite enough to outdo the King's selection of official residences.
Here, we take a look at just how wealthy the UK's new Prime Minister really is...
Multiple homes
For some context, Rishi's wife Akshata Murthy, who is a fashion designer, is the daughter of billionaire tech tycoon N.R. Narayana Murthy. He is the co-founder of the IT firm Infosys and is listed as the sixth richest man in India.
The couple, who married in 2009 in a two-day wedding in Bangalore, share two daughters Krishna and Anoushka.
They own a portfolio of four impressive properties, with two in London, one in Yorkshire, with another in California, and are valued at more than £15m.
The family spends the majority of their time at their five-bedroom mews home in Kensington, west London, which is estimated by estate agents to be worth more than £7m.
At weekends and during the holidays, the family of four will escape to the north Yorkshire countryside to reside in their Grade II-listed Georgian manor constituency home in the village of Kirby Sigston.
The property, which they purchased before Rishi was elected as an MP in 2015, has been transformed into a space of wellness and relaxation, coming with its own swimming pool, gym, yoga studio, and tennis court, across a 12-acre plot of land.
It's now worth more than £2m.
Alongside these two houses, they also own a flat in west London on Old Brompton road, which is used by visiting family.
And over in Santa Monica, the Sunaks have their own idyllic penthouse, which is valued at £5.5million.
It reportedly has "stunning views of the Santa Monica mountains" and is a place where you can "wake up to the sound of waves crashing against the shore".
And cars
When Mr Sunak recently defended his wealth, he claimed he and his family used an "ageing" Volkswagen Golf to get about in London.
However, this was later found to be by far the cheapest of the Tory's selection of four cars - which is kept at his different properties.
Sunak had faced ridicule after he posed for photos filling up a Sainsbury's employee's Kia Rio car at the petrol pump to promote his 5p-a-litre cut in fuel duties.
When asked about his own vehicle by Labour MP Siobhain McDonagh, Sunak remarked that his Volkswagen was older than hers - but did not reference his three other vehicles.
He also owns a "high-specification Range Rover", which costs from £94,000 new, and a top-of-the-range Lexus and a BMW in California.
Prada loafers and smart coffee mug
The flaunting of his wealth was critiqued in the first leadership round against Truss, who pointed out she was wearing £4.50 Claire's Accessories earrings while her fellow contestant sported £450 Prada loafers.
Rishi is also the proud owner of a £180 smart coffee mug, which saw many social media users claim that if he thinks nothing of spending hundreds on flashy flask, he can't have any idea what it is truly like for struggling families amid the cost of living crisis.
The vessel, rumoured to be a Christmas gift from his wife, is a Bluetooth-enabled device from Ember costing nearly £200, complete with a charging coaster and heating technology that maintains the temperature of your beverage.
In response to the comments on being out of touch, Rishi, who made his money at investment bank Goldman Sachs and hedge funds TCI and Theleme Partners, said he wouldn't shy away from questions on his money during a podcast with The Telegraph.
"I actually quite welcome it, to be honest," he said. "It is the opposite of annoying. Very few people bring it up with me.
"While I was chancellor I did town hall [meetings] very regularly with members of the public… virtually nobody asked me about it."
He even argues that he doesn't think voters care that he wore a bespoke £3,500 Henry Herbert suit or Prada shoes while touring a building site during the campaign, adding: "Values are what are important, what I'm wearing is irrelevant to all of that."
Earlier this year, Mr Sunak was forced to defend his wife's tax affairs after she opted to claim non-domicile status, meaning she did not have to pay UK tax on her overseas income.
The BBC estimated she would have avoided £2.1m a year in UK tax.
Following an outcry, Ms Murthy announced that she would start paying British taxes on all her worldwide income – a move she said was solely voluntary.
Ms Murthy, an Indian citizen, who owns a 0.9 per cent stake worth around £500m in Infosys, the software giant founded by her father, said at the time that she was "so proud” to live in the UK but defended her "entirely legal” decision to claim non-dom status.
But she added: "It has become clear that many do not feel it is compatible with my husband’s role as Chancellor. I understand and appreciate the British sense of fairness and I do not wish my tax status to be a distraction for my husband or to affect my family.”
In an interview with the Sun newspaper, Mr Sunak said he believed he was the victim of a campaign to discredit him, saying: "To smear my wife to get at me is awful."
This afternoon, during his first speech as PM, which lasted 86-seconds, he vowed to provide "stability and unity" after weeks of Tory-inflicted chaos.
The new Conservative leader said he was "humbled and honoured" to get the backing of Tory MPs, who handed him the keys to No 10.
Outgoing Prime Minister Liz Truss must offer King Charles her formal resignation before a new Prime Minister can be confirmed.
Mr Sunak will go to Buckingham Palace to meet the monarch, who will ask him to form a Government in his name.
