How Much Is British PM Liz Truss Worth As She Resigns?
On Oct. 20, British Prime Minister Liz Truss resigned her post only six weeks after taking over the job from Boris Johnson. She now has the distinction of serving the shortest reign as PM in British history. With a net worth estimated at about 8.4 million British pounds ($9.4 million), Truss should make out okay financially even without the job.
Because Truss is only 47 years old, chances are she’ll continue working in some capacity. But even if she doesn’t, she is eligible to collect a nice yearly income just for having served in the government.
Truss took over as prime minister on Sept. 6 after being elected by members of the Conservative Party to replace the embattled Boris Johnson as their leader, the Washington Post reported. Her reign got off to a rocky start and went quickly downhill almost immediately.
As the WaPo put it, Truss suffered from a “disastrous series of self-inflicted wounds — which turned into a political death spiral.” Those wounds included leading efforts to drastically change the government’s economic agenda by slashing taxes without providing details on how to pay for it. Things didn’t get better when the pound tanked and U.K. inflation hit record highs that outpaced even the U.S. inflation rate.
By the end of her time in office, Truss’s net favorability rating stood at minus-70 percent, according to a YouGov poll.
Estimated Net Worth: $9.4 million
Liz Truss’ net worth is estimated at about $9.4 million, according to a Daily Express article that cited data from Money Transfers. She built her wealth through her career in politics as well as a previous career in the oil and telecom industries.
Truss also remains eligible to receive up to $130,000 a year for the rest of her life under the Public Duties Cost Allowance (PDCA) scheme, The Washington Post reported. This allowance is ostensibly audited and meant for a sphere of usages including protection while attending public events and the maintenance of an ex-PM’s office.
Liz Truss’ Career
Before serving as Prime Minister, Truss was Secretary of State for Foreign, Commonwealth and Development Affairs, according to Gov.UK. She earlier was appointed Minister for Women and Equalities in September of 2019. She was elected as the Conservative MP for southwest Norfolk in 2010.
Truss’ career in the private sector included working for Shell from 1996 to 2000, National World reported. After leaving that job she joined the telecom firm Cable & Wireless Communications, where she served as Economics Director from 2000 to 2005. She later served as deputy director of the Reform think tank, a job she began in 2008.
Liz Truss’ Personal Life
Liz Truss was born Mary Elizabeth Truss on July 26, 1975, in Oxford, England, according to Britannica. Her father was a professor of mathematics at the University of Leeds and her mother was a nurse, teacher and activist. The family moved to Scotland when Liz was a child. In 1993 she matriculated at Merton College, Oxford, where she studied politics, philosophy and economics.
Truss married Hugh O’Leary, an accountant, in 2000. The couple have two daughters.
More From GOBankingRates