You may not have been interested in the wild news coming out of the UK recently, but it is very important, especially regarding the country’s new Prime Minister, Rishi Sunak, whose history is full of American and mysterious relations.
I’ll get to the good stuff about Sunak in a second, but first a word about the relationship between America and England. France or Israel may believe they have a special relationship with the US—but they are fighting for second place. We have had relations with England going back to the ill-fated colony of Virginia in 1584 and in the next five hundred years no country has come close.
Winston Churchill described the US-UK relationship as “unique” in a speech in Fulton, Missouri in 1946 with President Harry Truman. Of course, we’re a little different: cold beer vs. hot beer, brand vs. brand, football vs. football. But there are many similarities. The US and the UK share a love of the British royal family and amazing mashups of different genres when it comes to rock music, fashion and TV.
Economic ties between the world’s first and sixth economies – behind India, Germany, Japan and China – also play an important role. The US and the UK serve as source No. 1 each other money directly abroad, according to the US embassy in the UK website.
There’s more to it than that, says Wall Street investor Ann Berry, a Brit with a Harvard MBA. The US needs all the allies it can find because of the conflicts with Russia, Saudi Arabia, and China, he says.
He said: “The things related to history are becoming more important today, because the world’s beliefs are becoming more transparent, temporary, more common,” he said. a friend to us. And they still define this side of the Atlantic when it comes to playing in Europe. “
The UK is facing economic difficulties, some due to the imbalance of demand for all products, some due to events in the UK, some resulting from Brexit, or leaving the EU, almost two years ago. This led to multinational companies moving their European headquarters away from London, job losses and trade disputes. A strong dollar and rising energy costs will cause more pain.
The troubled economy falls into the hands of Britain’s new prime minister, Rishi Sunak, (pronounced REE-she SUE-nack) the leader of the Tory party, which has been in power for 12 years. He takes over from Liz Truss, who has had a difficult time as prime minister. Britain’s biggest stock market ended just six weeks ago amid massive market volatility.
Sunak’s financial expertise should be key to this new venture, and the markets are already settled. In addition to having links to the financial world, the new PM also has links to the US
The new Prime Minister is the first person. At 42, he is the youngest PM since William Pitt (the Younger), who took office in 1783 at the age of 24. Sunak, who was born in the United Kingdom, is the first PM of Indian heritage. He is also a former hedge fund executive, the first to hold a Stanford MBA, and the first to work at Goldman Sachs.
Let’s take a closer look at some of America’s connections. After graduating from Oxford in 2001, Rishi joined Goldman in London as an analyst, where he became close to the aforementioned Ann Berry.
He said: “He was intelligent, analytical, articulate and entertaining.” “He was very focused, even at the time, on making sure he was doing something that had a big impact.”
Sunak left Goldman and went to Stanford on a Fulbright scholarship where he received his MBA in 2006. There are some versions of his Stanford days in Sunak’s biography published in 2020 (how many 40-year-olds admit that?) not really) “Going for Broke” written and Lord Michael Ashcroft, the 76-year-old billionaire businessman and Tory politician. Ashcroft writes that Silicon Valley surprised Sunak, and that he once explained how it was possible to take 10 minutes across the Bay Area and pass hundreds of entrepreneurs who have changed people’s lives.
The book is about the hardships of Stanford, and one of his classmates, Maria Anguiano, told the author: “Rishi coped very well. He was always positive.” Another student there at the time, Rashad Bartholomew, remembers big parties, but He also said that Sunak did not drink but occasionally joined a few poker games.
After graduating from Stanford’s business school, Sunak worked for hedge funds in London including The Children’s Investment Fund (known as TCI), managed by British billionaire Chris Hohn, described to me as “an interesting person and a big risk-taker,” a British writer. hedge fund manager. At one point Hohn was engaged in a civil rights campaign that included targeting the American railroad CSX, which originated from the Baltimore and Ohio Railroad (or B&O), the oldest in the United States. The price of CSX ended up being a messy affair and it ended badly for TCI. Sunak worked in CSX’s financial affairs and his role was named in the lawsuit.
Sunak is extremely wealthy, much of which comes from his wife, Akshata Murthy, a Claremont McKenna graduate, whom he met at Stanford, and the daughter of the billionaire founder of Infosys, Narayana Murthy. Akshata owns .93% of Infosys worth about $700 million, according to Business Today, an Indian magazine. Infosys’ main business has been to send thousands of US workers to India, or replace jobs in the US with foreign nationals. It has also repeatedly hit the headlines with US regulators.
But wait—there’s more Americana through the Murthys. Through Akshata’s business with his family, Sunak also has ties to companies that operate Wendy’s in India and a partnership with Amazon in India, according to a Guardian investigation.
Finally, Sunak held a US green card at one point, according to the BBC. He still owns a luxury home in Santa Monica, the Guardian reports.
The point I am making is that Sunak’s connection to America is as important and inconsistent as Britain’s, and in fact, it reflects the changing nature of our relationship with England.
Think of it this way: In the 19th century our relationships were business, perhaps best exemplified by Andrew Carnegie, the Scottish-born American and British steel magnate. In the 20th century our military alliance with the UK was very important, with Winston Churchill, much loved by the Americans, (and reciprocated to some extent) as a symbol of that alliance. And now in the 21st century, with the economy rising, who better than Sunak, a former Wall Street man with an American MBA, to be the latest representative of Anglo-Americanism.
Rishi Sunak: As British/American as steak and kidney-and-apple-pie.
This article was published in the Saturday Morning Brief on Oct. 29. Get the Morning Brief delivered to your inbox every Monday through Friday by 6:30 am ET. Sign up
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