Rishi Sunak has been named the new leader of the Tory party and prime minister in waiting.

Sunak's victory came just seven weeks after he lost out to Liz Truss in the previous Tory leadership contest.

As the UK looks tat its new Prime Minister, many are in particular analysing the net worth of Rishi Sunak.

Everything you need to know about Rishi Sunak

What is Rishi Sunak’s net worth?

Earlier this year, Sunak was included in the Sunday Times rich list, detailing the UK’s wealthiest people.

According to the Guardian, this makes him the first frontline politician to be named in the annual ranking since its inception in 1989.

The list puts his and his wife’s net worth at £730 million, with their source of wealth categorised as “technology and hedge fund”.

The Guardian reports that Sunak also owns a portfolio of four properties spread across the world and valued at more than £15m.

Rishi Sunak and the cost of living crisis

As Prime Minister, Sunak faces one of the worst cost of living crises in recent years.

Inflation is running at a 40-year high of 10.1% according to the latest consumer prices index figures, causing a significant squeeze on household finances.

This comes as Sunak faces backlash over the project of his brand new swimming pool, and the reported £14,000 per year bill it will cost to heat it. A figure the Guardian claims is about six times the average household’s energy bills.

The ex-Chancellor had also previously faced backlash for moves such as removing the £20 Universal Credit uplift earlier this year.

READ MORE: Rishi Sunak's policies and what to expect from him as Prime Minister

Rishi Sunak on taxes

In the leadership race, Sunak has pitched himself as the fiscally conservative candidate and criticised Liz Truss’s tax-cutting plans as “comforting fairytales”.

He promised to “deliver tax cuts that drive growth”, but to do so in a “way that’s responsible”.

He vowed to take 4p off income tax within seven years.