London, October 24: After a dramatic turnaround, Rishi Sunak is the favourite to become the next Prime Minister of Britain barely months after he failed in the summer leadership contest to convince the grassroots he was a better option than Liz Truss.

Liz Truss- Britain's shortest-serving prime minister resigned after her economic agendas sparked a economic turmoil in the country. UK PM Race: Rishi Sunak Likely to Become Britain’s Next Prime Minister After Boris Johnson Pulls Out of Contest

Here’s Everything You Need to Know About Rishi Sunak:

1. Rishi Sunak was born in Southampton on May 12,1980. Rishi, completed his schooling from the private school Winchester College in Britain. After this he enrolled in the prestigious Oxford University for higher education. Rishi studied MBA from Stanford University in America and later started his career with investment bank Goldman Sachs and later founded an investment firm.

2. Sunak’s parents are of Indian origin. His father's name is Shayveer and mother's name is Usha Sunak. Rishi is the eldest among his siblings. His ancestors were from Punjab. Rishi Sunak Praises Boris Johnson’s Leadership After He Pulls Out of UK PM Race, Says Former PM Led Britain Through ‘Some of the Toughest Challenges’

3. Rishi became the MP of Richmond, Yorkshire for the first time from the year 2015 and has been an MP there since then. Last year, Rishi was elected MP for the second time from the Richmond (Yorks) seat. Prior to being Finance Minister, he was announced as Britain's Housing Minister in 2018.

4. Rishi was elected the Conservative candidate for Richmond (York) in October 2014, replacing former party leader and Foreign Secretary William Hague. Then in 2015 general elections were held where Rishi won with a majority of 36.2% getting 19,550 votes and was elected as MP.

5. Sunak is an important figure in the Conservative Party. While being the Finance Minister, he successfully faced the economic challenges during the COVID-19 period. He issued relief packages for financial institutions and did not let the economy derail with his efforts.

6. Rishi Sunak co-founded a 1-billion-pound global investment firm and specialised in investing in small British businesses before his entry into politics.

7. Rishi is married to Akshata Murthy, a fashion designer of British-Indian origin. Akshata is the daughter of Narayan Murthy, the founder of Infosys, a well-known software company.

8. Back in September, Rishi Sunak was defeated by Liz Truss in the race to replace Boris Johnson after losing an election held by members of the Conservative party across the country.

Britain’s political turmoil was triggered after Sue Gray delivered a report over the gatherings held at Downing Street when Boris Johnson was in the office with the rest of the country in lockdown. According to reports, several dozen staff at his office held two separate boozy bashes on April 16, 2021. These reports led to resignation of Boris after his party leaders lost confidence in him.

(The above story first appeared on LatestLY on Oct 24, 2022 04:27 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).