Following the resignations of Health Secretary Sajid Javid and Chancellor of the Exchequer Rishi Sunak, British Prime Minister Boris Johnson nominated a new UK Health Secretary and Finance Minister on Tuesday, according to media sources.
The new health secretary has been identified by the British Prime Minister as Steve Barclay, while the new finance minister has been designated as Nadhim Zahawi, the UK education secretary.
Nadhim Zahawi Wealth: How Much Is His Net Worth 2022?
An estimated £100 million net worth belongs to Nadhim Zahawi. Questions regarding Zahawi's vast economic interests outside of parliament are expected to be raised by the series of purchases.
In July of last year, Zahawi started working for Gulf Keystone. He receives a monthly salary of £20,125 as the chief strategy officer. As compensation for his advice to the corporation, he has also been getting regular bonuses of up to £26,000.
A NatWest bank branch and offices were most recently sold in 2012 for £5.25 million. Zahawi's Walton-on-Thames property, which cost £1.32 million, is where a WH Smith is located.
As previously reported by The Guardian, Zahawi received "performance units," a type of bonus, right before it became public that Sinopec, the state-owned oil firm of China, was in talks to purchase Gulf Keystone, a company currently valued at £350 million.
Over the past three years, a Conservative MP has invested more than £25 million in a six-story central London home and a number of commercial properties, netting him hundreds of thousands of pounds in rental income in addition to his parliamentary pay.
Expenses Scandal Related To The Politician
The Tory whose claim for MP energy expenses was the highest has acknowledged that taxpayer funds were used to fund a business at his country house.
Calls for an investigation by the Independent Parliamentary Standards Authority (IPSA) and the police were triggered by the disclosure. Although it is not against the law, MPs are only permitted to claim costs related to their employment in the House of Commons.
Mr Zahawi claimed $5,882 in energy-related charges in 2013, including the cost of heating the mobile home of the yard manager and the stables for his riding school.
He received criticism for this, and he was no longer allowed to preside over a meeting with Citizens Advice regarding exorbitant energy bills. Mr Zahawi, on the other hand, claimed it was an error and that he had reimbursed the £4,875.87 overpayment.
Nadhim Zahawi Family Portfolio
In the 18 months leading up to December, Nadhim Zahawi, who is also a director of an oil company that operates in Kurdistan, spent £10 million on the commercial properties, adding to a family portfolio that already included a stucco home on one of the most prestigious streets in Belgravia, central London.
With his wife Lana, Zahawi paid £13.75 million for the Belgravia mansion, which is adjacent to Margaret Thatcher's longtime residence, in 2013. As part of a significant renovation, the couple has requested permission to enlarge the basement and install a swimming pool.
The commercial properties were acquired through a business owned by Zahawi and his wife, and among them was the previous location of the Fishy Fishy restaurant in Brighton, which was once owned by TV host Dermot O'Leary.
The MP established a business called Zahawi & Zahawi a month after he was elected in 2010 and used that business to purchase commercial assets. Half of the business, which files "small company" accounts, is owned by him and his wife. Its accounts show that it had £174,675 in shareholder funds the previous year. Its funds during the previous year were £179,083.
One of its purchases was a £2.7 million home on Fulham Road in London, which is currently occupied by the real estate firm Savills. In addition, Zahawi and his wife own a livery in Warwickshire and a Putney house that they purchased before he was elected to the House of Commons.