​Rishi Sunak, who was announced as the new leader of the Conservative Party on Monday by the chairman of the 1922 Committee of Conservative MPs, will be received in an audience by King Charles III on Tuesday, who will officially appoint him as Prime Minister of the United Kingdom.

Rishi Sunak, who will become the 57th Prime Minister of the United Kingdom, is richer than the King and, at 42, younger than any of his predecessors.

Married to a wealthy Indian businesswoman, Sunak and his wife are worth an estimated £730 million, more than double the estimated £300-350 million of King Charles III and Camilla, the queen consort.

Rishi Sunak will become the first British Prime Minister of Indian origin and the youngest in more than 200 years.

Liz Truss, who resigned as prime minister last Thursday, will give a speech outside Downing Street at around 10.15am (9.15am) before heading to Buckingham Palace to be received by Charles III. After that, Rishi Sunaka will be received by the king, who will instruct him to form a new government. He will travel to Downing Street to give a speech at around 11:35am (10:35 GMT).

Sunak, a former Chancellor of the Exchequer, will become the third Prime Minister of the United Kingdom in less than two months.

It will also be the first prime ministerial appointment for the new sovereign, Charles III, who ascended the throne on September 8 following the death of Queen Elizabeth II.