Rishi Sunak appointed prime minister of the United Kingdom

London — Rishi Sunak became prime minister of the United Kingdom on Tuesday after meeting with King Charles III at Buckingham Palace. The 42-year-old former treasury chief is the country's third premier in under two months, the youngest leader since 1812, and the first person of color to serve in the role. He is of Indian heritage and Hindu faith.

"Right now, our country is facing a profound economic crisis. The aftermath of COVID still lingers. Putin's war in Ukraine has destabilized energy markets and supply chains the world over," Sunak said in his first address as prime minister outside the PM's residence at Number 10 Downing Street. He paid tribute to his predecessor, Liz Truss, but said "some mistakes were made," and that he had been chosen by lawmakers in his party, "in part, to fix them."

Sunak, who used to work in finance, is — alongside his wife, tech heiress Akshata Murty — one of the wealthiest people in the U.K. and served as treasury secretary under Boris Johnson. He immediately faces an economic crisis which has seen the pound plummet in value and inflation and interest rates skyrocket.