Uproar: UK Chancellor Rishi Sunak in Rich List
In this solo YouTube commentary, the host addresses the public outrage over UK Chancellor Rishi Sunak and his family appearing on the Sunday Times Rich List during a cost‑of‑living crisis. He explains that most of the £730 million fortune comes from Sunak’s wife’s family, notes that his wife voluntarily chose to pay UK tax despite a non‑domicile status, and argues that the inclusion could be beneficial because it brings business and entrepreneurial experience into government. The speaker critiques the current fiscal approach of raising taxes, advocates for policies that incentivise entrepreneurship, and suggests that a government run with corporate‑style thinking could boost the economy. Throughout, he promotes his own membership platform (rob.team), offering courses on starting businesses, creating multiple income streams, and investing, positioning these as the practical solution to the crisis. The video ends with a call to share, comment, and join the platform.
Chapters
So there is uproar on the internet and in the UK because the new Sunday Times Rich List has just been announced, and the UK Chancellor Rishi Sunak and his family are in the Times Rich List. Now, the reason— you can imagine the noise while millions are having a cost of living crisis Soaring cost of living, soaring inflation, soaring fuel and energy and gas, taxes going up and up and up, yet the UK Chancellor and his wife are in the Rich List. It's an outrage, it's a scandal. Well, look, I'm going to tell you, uh, the latest of the Rich List news and Rishi Sunak, the UK Chancellor, and his family, etc. But I actually have a very different view to the mainstream outrage. So, um, stay with me because I'm not sure it's really a bad thing. Anyway, I'd love to know your thoughts. Look, I know a lot of people are going to think, while this country is in financial ruin, how can we have the Chancellor in the rich list? But Rishi Sunak's wife was non-domicile in the UK, and because of public pressure around her being worth hundreds of millions but not paying tax in the UK, she actually decided that she would pay tax in the UK. Now, if she's not earning her money in the UK, if the money is earned, say, in India, and she's in the UK for a certain amount of days of the year, then she is legally entitled not to pay tax in the UK. Yet, because of public pressure and because of PR, she decided to pay tax in the UK. So name me any other hundred-millionaire or billionaire that would not have to legally pay tax in the UK but would decide to pay tax in the UK for the good of the reputation. So I thought that was a very fair thing that Rishi Sunak's wife did and wasn't really given any credit for that. Now Darren has said here, um, it's only because I'm rich that my view is different. Well, Darren, stay with me because it's actually nothing to do with wealth or me being rich that I actually don't think it's such an outrage that the UK Chancellor and his family are in the rich list. So I'll tell you what I think in a moment, but the Times rich list has just been announced and there are 177 billionaires now. That's up from 6, or up 6, so up from 171 in 2021. The combined wealth of the UK's billionaires is now at £653 billion. Which is up more than £55 billion, which is up 9.4% on the total wealth of the billionaires of last year. Now, of course, so many people are going to be saying, well, that's an outrage, that's unfair, we're in a cost of living crisis, everything is soaring— tax, inflation, food, gas, energy. And whilst I agree that the government should be doing more, they should be reducing taxes, they should be doing more to fire up the economy, to support employees, to support entrepreneurs and small business owners, to give us support and subsidy to allow us to produce and to trade. I believe that to be true. That's actually nothing to do with billionaire wealth, in my view. Anyway, I'd love your thoughts. So, um, the London-based, um, Hinduja brothers are the wealthiest family in the UK with a £28 billion fortune. They're up £11 billion on last year. And overall, the richest 250 people in the UK are worth £710 billion, compared to— well, they're 8% up on last year. Now, um, Kieran has said, why do they need that much money? Well, they don't necessarily need that much money, but they have that much money because they create value and products and services in exchange for that much money. So if the world didn't deem that the billionaires were valuable, the world wouldn't give them money. So if you look at billionaires and 100 millionaires and big corporations, they provide useful products and services for millions or billions of people. And if you don't, um, agree and believe in Big Tech and Amazon and all these other companies, then you should vote with your feet and shop elsewhere. But generally, billionaires become billionaires because they're useful to the masses. Anyway, um, inflation is at what, between 9% and 11%, and I believe cost of living is really up 20% plus since the lockdown. So obviously this news is going to piss a lot of people off. Now, Rishi Sunak and his wife, um, they made the Times Rich List for the first time, and their joint fortune is £730 million. Putting them at number 222. So obviously loads of people are pissed off about that. Here's my view. Number one in— number one is the wealth has mostly been generated from the Murthy family, from Rishi's wife's parents and Rishi's wife, and not necessarily Rishi. So they're kind of tarring him with that brush. I'm not saying he hasn't earned any of that money, but most of it is from his wife's family side. Number one. Number 2, his wife decided to pay tax in the UK even though she doesn't legally have to. That's number 2. But the big reason why I'm going to argue it's actually a good thing that the Chancellor and his wife have a fortune and they have a family who have a fortune is maybe we can get some freaking business and economics-based decisions into our government and into our economy. Because right now taxes are going up, inflation is going up, cost of living is going up crazy. And all the government are really saying is, yes, it is a crisis, and oh, there's nothing really that can be done about it, and oh, it's going to be hard for the next few months or whatever. That's all they're really saying and doing. They're just really— there's nothing that can be done, they say. Well, what about if we had entrepreneurs? What about if we had business owners, creators, innovators, disruptors, changemakers in our government? People who know how to build corporations, because the government— well, actually, it's not run like a corporation. If the government was run like a corporation, we might actually make some freaking money in our economy. But the government is a legally insolvent corporation. It's in massive deficit. It doesn't have to balance its books. It keeps printing money. It keeps creating debt. It— like, if I kept printing money from my company, creating debt from my company, having a deficit every year that I don't balance the books on, and trading insolvently, I could be put in prison, yet the government can get away with it. So what about if the government had entrepreneurs and business owners who built corporations for decades? I'm not necessarily talking about greedy big tech corporations. I'm talking about true corporations that change the world. The government should be a corporation. Instead, it seems to be a charity that pays itself. So I actually think it's a good thing that we have a bit of business nous and savvy in the family, or married to the family of the UK Chancellor. Now hopefully the UK Chancellor can start to call on the advice of the multi-billionaire father of his wife, who by the way I've got agreed to, um, be on the Disruptors podcast, my podcast, and maybe we can get some proper fueling of the economy going. Now look, there's more than one way that our government can generate revenue. All it seems to know how to do is to increase taxes. VAT hasn't been reduced, Corp Tax has gone up from 19% to 25%, National Insurance is up, taxes up and up and up. That seems to be the only way they think they can raise money. No, fuel up the economy, incentivise employees to want to work, Incentivize people who are on benefits to want to work. Incentivize entrepreneurs to want to hire and want to produce and want to create. Reduce their taxes, reduce their friction, support them, give them subsidy, fuel up the economy, expand the economy. That's how they can make money, and we'll all be much more wealthy for it. Anyway, so please hit the share button, um, if you agree or if you disagree. There's going to be a massive outrage all over the internet and in the UK right now because the Times Rich List has come out and for the first time the UK Chancellor is on it. Well, his family is on it. His wife and their parents and him, of course, because he's married into the family, have a £730 million fortune, putting them in the Times Rich List for the first time ever. People are going to be screaming hypocrisy, double standards, conflict of interest, so unfair. I say the opposite. I say Hopefully he can get some advice from that billionaire father-in-law of his. Hopefully he can bring some entrepreneurial and business and corporate knowledge into the government and they can be run like a proper business instead of some kind of insolvent charity. Which is why half the reason we're fricking in this shit in the first place. Far too many staff in government earning far too much money, completely unincentivised, no growth incentives. Most of them, let's be honest, a bit— Bent, shall we say. I mean, all got away with parties in lockdown when we were locked down. Just getting away with it. Hmm. Anyway, let me know what you think in the comments. Is it an outrage or is it a good thing that someone who runs our budgets, the UK Chancellor, um, is on the rich list? Now look, I'd love to get you on the rich list. I can't promise to do that, of course. But I would love to help you through this cost of living crisis. You know, I want to help you start a business, scale a business. I want to help you create multiple streams of income. I want to help you, um, for example, monetize your social media or your personal brand, build digital assets, get those extra income streams. So if you'd love to do that and you're prepared to commit to and invest in yourself, then I invite you to join Rob team. So I have a private members area, it's called rob.team. R-O-B dot T-E-A-M. If you open a browser right now, go do it now, um, and just type in rob.team, you can join for less than a fiver a month. It's the third year anniversary, I'm celebrating by keeping the founders members price. I'm looking to probably— I'll pick between 30 and 50 a month, but you can get in at the founder members price. I'm going to hold the founder members price, um, while we're in this real big cost of living crisis to pay back and give back to as many of you as possible. So go and join rob.team right now. Just open a browser and type in rob.team, and what I'll do for you is I'll give you access to 10 pieces of premium content every single month. Could be live videos, Q&As, ask me anythings, blogs, articles, and masterclasses. I update the members platform every Thursday with all the content, and it will help you start a business, scale a business, better financial education and knowledge, how to create multiple income streams, new income streams, side hustles, increase your income, digital assets that are quicker, easier, and cheaper. And look, the school system's pretty, um, screwed. The government are pretty screwed. Our economy is pretty screwed. So you need to focus on fixing your own economy. Educating yourself, um, because you cannot save your way out of this crisis. You can only invest and earn and increase your income out of this crisis. So go and join at rob.team. I'll say the link again because people ask me to repeat and they spell it wrong. R-O-B, rob.team. Open a browser now, go and join. Once the video's finished, I'll put the links in for you to click. I've got masterclasses on monetizing social media. I've got a 2-day recurring income summit with the founder of Netflix and someone who sold half a billion books. I'm also updating this week a 7-part video series on how to invest, whether you've got $100 or $1 million and anything in between, or pounds. I'm going to do a brand new series on how to invest. So that's all at rob.team. It's a fiver a month. You can cancel any, any time. It costs you basically a large coffee. That's it per month. There's thousands of members. I'll hold the founder members price while we're in this cost of living crisis. So open a browser right now and type in rob.team. There will be outrage on the internet, mark my words. Rishi Sunak and family have got into the rich list for the first time. They're worth 700 and what, 20? 730 million. They're at number 22 in the rich list while most of the country is on the breadline choosing between heating and eating with inflation at 9, 10, and 11% and cost of living and energy and fuel and food soaring. This is what's going on. The world's going to hate it. I'm going to put a different point of view across. I'm going to say it's probably or could be a good thing that at least we have one person in the UK government who's got experience or very good connections with business owners and entrepreneurs and creators and producers. Because I don't think that the government create anything or produce anything. I think there's too many of them paying themselves too much money, not being productive, and consuming. And we need producers and builders, not consumers, in our UK government. So maybe Rishi can learn from his father-in-law, who's a multi-billionaire, who's agreed to be on my podcast, by the way. And maybe it's not a bad thing after all. But let me know what you think in the comments. Please hit the share button because I am on a mission doing daily content to help as many people start and scale their business, get better financial knowledge, experience, and education, create multiple streams of recurring income, build digital assets, side hustles, make money while you sleep, you know, all of that. Which, to be honest, that's the only way out of this cost of living crisis. You can't save your way out of it. Because your costs have gone up so much you don't have the margin to save. You have to make it, not save it. You have to invest it, not save it, because inflation and cost of living is killing your savings. So invest in yourself. Just a fiver a month, just the cost of a large cup of coffee. You can cancel any time. Go and join right now. Open a browser and type in rob— Rob— dot te— AM. And coming next week, I'm going to do a 7-part How to Invest Deep Dive live course just for you. Thanks for tuning in. Hit the share button, and remember, if you don't risk anything, you risk everything.
