Sunak, one of the wealthiest politicians in Westminster, will be asked to form a government by King Charles, replacing Liz Truss, the outgoing leader who only lasted 44 days in the job. He defeated centrist politician Penny Mordaunt, who failed to get enough backing from lawmakers to enter the ballot, while his rival, the former prime minister Boris Johnson, withdrew from the contest saying he could no longer unite the party. "This decision is an historic one and shows, once again, the diversity and talent of our party. The pound and British government bond prices jumped briefly on news of Mordaunt's withdrawal, but soon returned to their previous levels. Sunak, the 42-year-old former finance minister, becomes Britain's third prime minister in less than two months, tasked with restoring stability to a country reeling from years of political and economic turmoil.
