Rishi Sunak Became Britain's Prime Minister On Tuesday After His Predecessor

Rishi Sunak became Britain's prime minister on Tuesday after his predecessor, Liz Truss, stepped down.

Truss spoke briefly outside 10 Downing Street before travelling to Buckingham Palace to formally offer her resignation to King Charles III, who officially appoints the British prime minister. As Truss left the palace, Sunak arrived and, after an audience, the king formally invited him to form a government.

The 42-year-old former hedge fund boss, who has only been in elected politics for seven years, has been tasked with bringing an end to the infighting and feuding at Westminster that has horrified investors and alarmed international allies.

Sunak is Britain's youngest prime minister for more than 200 years and its first leader of color.

Speaking outside his new official residence at 10 Downing Street, Sunak paid tribute to Truss and said her plan to reignite economic growth had not been wrong, but he said mistakes were made. "And I have been elected as leader of my party and your prime minister, in part to fix them," he said.

Sunak will now start forming his Cabinet, with some Conservative lawmakers hoping he will include politicians from all wings of his Conservative Party.