Tory millionaires: Conservative MPs and their absolutely mind-boggling net worths
Boris was once paid a rate of £20k an HOUR for public speaking engagements
The cost of living crisis is biting us all hard, with it being reported that over two million UK households are in debt on their electricity bills. Average UK wages have fallen at the fastest rate in more than 20 years, and the UK government seems to be providing us with less support than other European countries. Everyone is feeling the pinch, but guess what? There’s a whole load of Tory MPs and cabinet members who are literal millionaires. We’re all in this together, hey guys?
From Tory leadership candidate Rishi Sunak, who is believed to be the richest man in the House of Commons and is literally richer than the Queen, to Boris Johnson once being paid a rate of £20k per hour for public speaking engagements, here are Tory MPs and their eye-watering net worths:
Boris Johnson – £1.6m
Alexander Boris de Pfeffel Johnson went to Eton (of course he did) and is believed to be worth around £1.6 million. As Prime Minister he had a salary of just under £80k, on top of £84k for being an MP – a total annual salary of £164,080.
Before becoming PM, BoJo was a journalist and author and also got money for public speaking, with it being revealed in 2019 he’d been paid an eye-watering £407,895 for just eight speaking engagements, which is a rate of £20k an hour.
He and his wife Carrie own a four-bed swanky south London townhouse, which is now up for sale for £1.6 million. Johnson is also reported to have a 20 per cent share of his family’s farm in Exmoor. In 2018 it was revealed he had a salary of £275,000 a year for his weekly column in the Daily Telegraph.
Rishi Sunak – £730m
Earlier this year, former chancellor and current Tory leadership candidate Rishi Sunak appeared in the Sunday Times rich list, alongside his wife Akshata Murty. The rich list valued their net worth at an eye-watering £730m. Sunak is believed to be the richest man in the House of Commons.
Before politics Sunak worked for an American investment bank, before moving into hedge fund management and setting up his own firm. But the majority of their net worth comes from Rishi’s wife Akshata. Her father is the co-founder of an Indian tech company and her shares in the company are believed to be worth an estimated £430m. She herself owns a venture capital company and is a director or direct shareholder at five other companies.
So basically: They’re rich rich. Like, richer than the Queen.
Jacob Rees-Mogg – over £100m
Jacob Rees-Mogg is minister of state for Brexit and was once told off for lying down in Parliament. In 2019, Rees-Mogg’s net worth was estimated to be “well over £100 million”, it was reported.
This figure is likely to include his wife’s expected estimated inheritance. Helena de Chair, Rees-Mogg’s wife, is the daughter of famous poet and aristocrat Somerset de Chair and Lady Juliet Tadgell. Helena’s mother has an estimated net worth of £45m, which it is reported Helena stands to inherit along with Kent stately home Bourne Park.
In 2018, it was reported Rees-Mogg lives in a £5.6m, five-storey townhouse in Westminster in central London. He went to Eton, just like his bestie Boris.
Nadhim Zahawi – £100m
Nadhim Zahawi is pretty bloody rich. He has a reported estimated net worth of up to £100m. His wife and their companies reportedly have a huge property portfolio, including a £20m London townhouse, an industrial estate and a country house with stables. When he became a minister he quit as a director of their firm, and transferred his 50 per cent shares to his wife.
The Mirror reported last year that Zahawi was paid £1.3m in his time working at an oil company, including a final “settlement payment” £285,000 when he became a government minister in 2018.
Jeremy Hunt – £14m
Before working in politics Jeremy Hunt was a management consultant. A couple of years ago, the Express reported his estimated net worth to be £14m, after he sold his shares in his education company back in 2017. He studied PPE at Oxford at the same time as BoJo, David Cameron and George Osbourne. Oh, and he’s apparently a distant relative of the Queen??
Dominic Raab – £1.3m
Dominic Raab went to both Oxford and Cambridge unis, before training at a law firm and working as a solicitor. His wife is a marketing exec and worked at Google until 2020. Raab has a reported net worth of £1.3m.
Priti Patel – £2m
Former home secretary Priti Patel has a net worth reportedly over £2m, with Patel studying economics at Keele and doing a masters at Essex Uni. Since then she’s worked in politics.
Last year the Home Office was forced to clarify that expenses of over £100,000 were in fact for PPE – not on doing her eyebrows, as some people were saying. It confirmed the expenses were not Priti Patel’s, and said: “It is completely false to say the Home Office has spent money on beauty products, it was PPE.” (That’s PPE as in Personal Protective Equipment, not Priti Patel’s Eyebrows.)
Michael Gove – £1.6m
Michael Gove has a reported net worth of up to £1.6m. Last year he and his ex-wife, journalist Sarah Vine, announced they were finalising their divorce. In May this year, they sold their old family home – a five-bed west London house – for a reported £2,095,000.
Sajid Javid – £8m
Former health secretary Sajid Javid has an estimated net worth of £8 million. Before he was an MP Javid had a career in finance. He was headhunted by Deutsche Bank, when he left this role he had a reported annual salary of around £3m.
Liz Truss – £8m
Taylor Swift stan Liz Truss has come to the end of her very short stint as Prime Minister. According to Nadine Dorries, Liz’s earrings are just £4.50 from Claire’s Accessories, but her net worth is a lot more than that, a reported £8m.
Earlier this year she came under fire for using a private jet to fly to Australia and back, as well as flights within the country, reportedly costing over £500,000 of taxpayer’s money. The government’s jet has a VIP interior, including lie-flat beds. People criticised her for not taking normal scheduled flights, which would have been cheaper, better for the environment, and quicker. The Independent reported the private flight was chosen for “security considerations” so conversations would not be overheard and Truss said: “We have a government plane precisely so that government ministers can travel. Every government decision is based on value for money.”
Scotland secretary Alister Jack founded tent hire and self-storage companies. The businesses have previously been reported to have helped build a £20m fortune. Jack owns a 1,200 acre farm in Scotland and has declared shares in 16 companies. In 10 of these his personal holding is apparently worth at least £70k.
Last year it was reported that Tory MP Sir Charles Geoffrey Cox had earned over £5.9m working as a lawyer whilst working as an MP, since 2009. In 2021 he declared a part-time contract worth £400,000 a year, on top of his MP’s salary. A statement released on Cox’s behalf said he was “a leading barrister in England” and made “no secret of his professional activities”.
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Related stories recommended by this writer:
• This is what other European countries are doing to help with the cost of living crisis
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• ‘Sensible, electable’: Young Labour supporters on what they actually think of Keir Starmer
Featured image overlays via SWNS, BBC, ITV