Liz Truss Net Worth Update 2023 – How Wealthy Is She?

Categorized as Politics
Liz Truss Net Worth

In a surprising turn of events, Liz Truss, the then-British Prime Minister, made headlines for her unexpected resignation on October 20, 2022. Just six weeks after assuming the position from Boris Johnson, Truss now holds the dubious honour of having the shortest tenure as a Prime Minister in British history. Have you ever wondered how much Liz Truss is worth? This article will provide insight into Liz Truss net worth, journey to Prime Minister, education, family background and career.

Liz Truss: Early Years, Academic Pursuits, and Family Background

Liz Truss, born Mary Elizabeth Truss, was born on July 26th, 1975 in Oxford, England. Her father was a mathematics professor at the University of Leeds while her mother worked as a nurse, teacher and activist. When Liz was young her family relocated to Scotland. In 1993 she attended Merton College, Oxford to study politics, philosophy and economics. As of 2023, Lizz Truss is 48 years old. 

Liz Truss’s husband, Hugh O’Leary, whom she married in 2000, is proud to support her in politics. He studied accounting like Liz did. Hugh has also tried to get into politics himself. In 2002, he ran for local council as part of the Conservative Party, but he didn’t win. Even though he lost, he still helps the party in Greenwich.

He was born in 1973 but his exact date of birth is unknown. Liz thinks highly of the London School of Economics, where Hugh went to school. They have two daughters Liberty and Frances who are 19 and 16 years old respectively. 

Liz Truss: A Successful Career

Liz Truss has had a successful career. She started working at Shell in 1996 and became a Chartered Management Accountant in 1999. She later worked at Cable & Wireless as an economic director before leaving in 2005. In 2001, she ran for election in Hemsworth and although she didn’t win, she increased the Conservative vote.

In 2010, Truss was elected to the House of Commons. She worked hard to keep the RAF Tornado base in her constituency and became a parliamentary under-secretary at the Department for Education, where she oversaw important areas like childcare and education reform.

In 2014, Truss was appointed Secretary of State for Environment, Food and Rural Affairs, succeeding Owen Paterson. She was tasked with overseeing environmental and rural matters. 

In 2021, Truss was promoted to Secretary of State for Foreign, Commonwealth and Development Affairs. This happened after Boris Johnson resigned as prime minister, making Truss the leader of the Conservative Party and the majority party in Parliament. 

Liz Truss’s Difficult Start as Prime Minister

On September 6, Liz Truss succeeded Boris Johnson as Prime Minister of the United Kingdom. However, things didn’t go well for her right from the start.

As the WaPo described it, Truss faced a series of problems that she caused herself, which created a downward spiral for her politically. One of these problems was her attempt to drastically change the government’s economic plans by reducing taxes, but without explaining how to pay for it. The situation got worse when the value of the pound dropped and the cost of things in the UK went up more than in the US, reaching record-high levels.

Liz Truss Net Worth: Wealth and Lifelong Allowance

Liz Truss is estimated to have a net worth of around $9.4 million, as stated by the Daily Express, based on information from Money Transfers. She accrued her money through her political career and prior employment in the oil and telecom sectors. 

According to The Washington Post, Truss can collect an annual allowance of up to $130,000 through the Public Duties Cost Allowance (PDCA) program for the remainder of her life. This allowance covers expenses like security during public events and the upkeep of a former prime minister’s office. With her net worth and this allowance, Truss has financial stability.

Lizz Truss Social Media

Liz Truss Instagram

Lizz  Truss has an Instagram account in the @elizabeth.truss.mp having a following of 161 K. She also has a website where you can access all information about her and her political career. 

Bottom Line

Liz Truss’s sudden resignation as British Prime Minister after only six weeks in power has caused speculation about her political future. Despite her short tenure, Lizz Truss’s net worth of $9.4 million and the potential for a lifelong allowance of up to $130,000 per year provide her with financial stability going forward.

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Amanda Mills

By Amanda Mills

I am a marketing communication and administrative professional with over 5+ years of experience. My experience encompasses strategic marketing, office administration, public speaking, blogging, and creative content.