Liz Truss' Post-Budget Life: Net Worth, Properties, and More
Liz Truss' Post-Budget Life: Net Worth, Properties, and More.
Liz Truss, the shortest-serving Prime Minister in British history, didn't exactly leave a shining legacy before stepping down. However, her comfortable lifestyle seems to remain intact.
Truss, who allegedly once sought public funds to cover a £3,000 lunch with Joe Biden's trade representative, has a pretty impressive fortune and a couple of nice properties to her name. Even after her shocking defeat in the UK General Election, it looks like she won't be cutting back on her love for international trips anytime soon.
This all comes to light with Sir Anthony Seldon's revealing new book, How Not To Be A Prime Minister, which exposes the 49-year-old's brief and troubled time as Conservative Party leader. Her ill-fated mini-Budget of unfunded tax cuts sent the country into an economic tailspin, ultimately leading to her resignation.
What is Lizz Truss’ Net Worth?
Even though her time as prime minister was pretty brief, Truss didn’t have to stress about her finances after her embarrassing departure from Number 10. In fact, back in October 2022, just as Rishi Sunak was gearing up to take over, Money Transfers revealed that the 44-day PM had built up a net worth of £8.4 million.
Truss racked up her wealth through various high-profile roles. Before diving into the competitive political scene, she worked as an industrial economist for Shell and served as the deputy director of Reform, a think tank focused on public services.
She kicked off her political journey in 2010 as the MP for South West Suffolk, later becoming the Parliamentary Under-Secretary of State for Childcare and Education from 2012 to 2014. In 2019, she was appointed Minister for Women and Equalities, and by 2021, as she was eyeing the top position, Truss was named Secretary of State for Foreign, Commonwealth and Development Affairs.
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During her time as PM, it was reported that Truss allegedly considered halting cancer treatments on the NHS, a move that would have severely affected those who couldn’t afford private care. An excerpt from Sir Anthony's new book mentioned that one of her senior advisers was told 'that Truss and Kwasi Kwarteng were thinking they could still sort out the black hole with severe cuts'. They added: "We've been told that they are looking at stopping cancer treatment on the NHS."
A spokesperson for Liz Truss said: “It is completely untrue that she ever considered it.” Meanwhile, Kwarteng told The Independent: "I wasn't involved in any conversations about restricting healthcare, but that doesn't mean the Prime Minister and her team didn't discuss this."
Real Estate
Truss, a multimillionaire, probably wasn't too stressed about finding a new place to live after leaving her Downing Street flat amid controversy. She has a nice family home in the charming market town of Thetford, Norfolk, which is known for being the filming location of the classic British sitcom, Dad's Army.
The former Prime Minister also owns a property in the green area of Greenwich, South-East London, where she lives near ex-Chancellor Kwasi Kwarteng. Back in October 2022, The Guardian reported that her period townhouse was valued at around £1.75 million, especially after her sharp criticism of those who she claimed "take taxis from north London townhouses to the BBC studios."
In May 2022, Truss found herself in hot water over the rumored potential purchase of a £20 million "party pad" in New York for British diplomats. A leaked memo obtained by the Mail Online revealed that Truss, then serving as Foreign Secretary, was "very supportive" of plans to buy a 19th Century Manhattan townhouse from the disgraced art dealer Guy Wildenstein, who was recently convicted of money laundering and tax fraud.
Even with Wildenstein facing legal issues, the memo indicated that the Foreign Office felt "confident that there is no legal risk of purchasing the property from this individual and believe that media interest will be manageable," adding that "we are aware that the Foreign Secretary is very supportive."
Denying this account at the time, a Foreign Office source has stated: "The Foreign Secretary has not been consulted and has made no decisions on this issue. She has therefore not expressed any views."
“Work Jollies”
In her last months as Foreign Secretary, Truss racked up nearly £2 million in expenses for overseas trips, as revealed by a Liberal Democrats analysis published in The Guardian in October 2022. This eye-watering amount drew quite a bit of backlash, with Lib Dem foreign affairs spokesperson Layla Moran claiming that Truss was "literally taking the taxpayer for a ride." Moran also pointed out the irony of Truss making "cruel cuts to essential public services" while jet-setting around the globe on these ridiculously pricey trips, all funded by hardworking families.
It’s pretty obvious that Truss loves to travel abroad and doesn’t hold back on spending. In May 2023, she and her husband, Hugh O'Leary, took an £18,000 trip to Hawaii, where they visited the Pacific Forum, a think tank based in Honolulu.
According to The Times, the hosts covered the costs for their lavish five-day getaway, which included flights totaling £15,520 and a hotel stay of £2,392. They even got to use the Windsor Suite at Heathrow Airport, a spot typically reserved for the Royal family and other high-profile guests.
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Recently, Truss took a £20,000 trip from a mysterious US group that might have ties to impeached former President Donald Trump. This trip happened back in February, and Truss stayed at The Cloister, a fancy five-star hotel located on the exclusive Sea Island in Georgia.
The event was pitched as a "small gathering of today's great minds" and was put together by the Green Dragon Coalition, which doesn't have much information available. Their website claims they "value selfless leaders who put their nation's welfare above personal re-election goals" and aim to support those with "the guts to stand against the swamp."
Truss, who made a trip from February 1 to 5, reported a donation of about £19,541 in the members' interests register for attending a political conference. This amount included £14,871 for flights and £4,670 for her and a staff member's accommodation.
But that wasn’t her only trip to the U.S. this year. In July, she showed up at the Republican National Convention in Milwaukee, where she praised Trump as 'the leadership the West needs.' Despite her excitement, quite a few people there didn’t even recognize her.
In a rather awkward interview with inews, Alvin Portee, a delegate from South Carolina running for county coroner, mentioned: "Liz Truss? No. What's that?" Meanwhile, Deana Abiassi, from Texas asked: "I don't know who that is… should I?" When informed of Truss' former lofty office, she added: "I'm embarrassed I didn't know that."
The Lettuce
Recently, Truss faced some tough questions at an event in Beccles public hall, Suffolk. While she was there to promote her book, "10 Years To Save The West," a banner with a lettuce popped up behind her, boldly stating, "I crashed the economy." It's worth noting that her stint as Prime Minister ended so quickly that a lettuce in a wig didn't even have time to wilt, thanks to a funny campaign by the Daily Star.
This recent prank, pulled off by a campaign group, got a few laughs from the crowd. Sadly, Truss didn’t find it amusing at all, saying, "that's not funny," before walking off the stage in a huff.
Later on social media, Truss made a statement reiterating: "What happened last night was not funny. Far-left activists disrupted the event, which then had to be stopped for security reasons. This is done to intimidate people and suppress free speech. I won't stand for it. Would we see the same reaction if the activists were far right?"
Liz Truss' post-Prime Ministerial life has been marked by controversy and contradictions. Despite her brief tenure and disastrous mini-Budget, she continues to enjoy a lavish lifestyle, indulging in expensive international trips and accumulating wealth through book deals and speaking engagements.
Her focus on luxury living, combined with questionable decisions during her time in office, paints a picture of a leader out of touch with the struggles of ordinary citizens. Truss' continued self-promotion, despite the damage caused to the UK's economy, has left many questioning her commitment to the public good, making her post-premiership image increasingly tarnished.