Battle of the rich: Crorepatis in fray to contest LS polls in Andhra
Three leading industrialists, who are in the fray for Lok Sabha elections for the first time in Andhra Pradesh, have family assets of over Rs 500 crore each, overtaking many businessmen-politicians who are seeking re-election.india Updated: Apr 21, 2014 16:21 IST
Three leading industrialists, who are in the fray for Lok Sabha elections for the first time in Andhra Pradesh, have family assets of over Rs 500 crore each, overtaking many businessmen-politicians who are seeking re-election.
Jayadev Galla, vice-president and managing director of the Amara Raja Group, is the richest of them all with family assets of Rs 683 crore. The US-educated corporate honcho, who joined the Telugu Desam Party (TDP) last month, is contesting for the Guntur Lok Sabha seat.
Jayadev alone has movable assets of Rs 541.64 crore while his wife Padmavathi Galla's liquid assets are worth Rs 45 crore. Their two sons together own movable assets of over Rs 5 crore. Jayadev has immovable assets worth Rs 79.24 crore and Padmavathi Rs 6.76 crore. Jayadev's annual income is Rs 16.30 crore while that of his wife Rs 54.62 lakh
If elected, the 48-year-old industrialist from Chittoor district of the Rayalaseema region will become the richest MP from the state, a distinction earlier enjoyed by YSR Congress chief Y.S.Jaganmohan Reddy, who had declared family assets of Rs 406 crore in 2011 by-election to the Kadapa Lok Sabha seat.
Jaganmohan Reddy, son of late chief minister Y.S.Rajasekhara Reddy, is contesting for the assembly from Pulivendula in his native Kadapa district in Seemandhra. He has declared that he and his wife own assets of Rs 416 crore.
Ayodhya Rami Reddy is a close second with family assets of Rs.650 crore. The chairman of infrastructure conglomerate Ramky Group is YSR Congress candidate from the Narasaraopet Lok Sabha constituency in Guntur district.
He has an estimated Rs.648.70 crore movable assets including cash deposits, shares and debentures and vehicles owned by his family. Rami Reddy has movable assets worth Rs.592.33 crore while his wife Dakshyani has assets of Rs.52.25 crore.
Rami Reddy is a co-accused in the illegal assets case allegedly involving Jaganmohan Reddy.
If the top two are from Seemandhra, the third-richest candidate is from Telangana.
Konda Vishweshwara Reddy is contesting as a Telangana Rashtra Samithi (TRS) candidate in the Chevella Lok Sabha constituency adjoining Hyderabad. He has family assets of Rs.528 crore.
The grandson of former deputy chief minister Ranga Reddy, has movable assets of Rs.171.72 crore while his wife Sangita Reddy, managing director of Apollo Hospitals, has assets of Rs.243.27 crore.
Infra firm Madhucon's chief Nama Nageswara Rao, who is seeking re-election from Khammam on the TDP ticket, has assets of Rs.300 crore, making him the second richest among candidates from Telangana. His assets in 2009 were Rs.173 crore.
The impoverished region has many crorepatis. G. Vivekanand of Visakha Industries, who is seeking re-election from Peddapalle on the Congress ticket, has assets of Rs.266 crore. His assets in 2009 were Rs.73 crore. His brother G. Vinod, who is contesting for the assembly, is worth about Rs.200 crore.
The other rich contestants include film actor-turned politician Nandamuri Balakrishna who is contesting as a TDP candidate from the Hindupur assembly constituency in Seemandhra.
The son of TDP founder N. T. Rama Rao has family assets of more than Rs.213 crore. He has movable assets at Rs.104.85 crore while his wife Vasundhara and son Mokshagnya Tarakarama Teja have movable assets worth Rs.92.32 crores and Rs.17.54 crores respectively.
Rajendra Prasad of Trimax Group, who is contesting for the Lok Sabha from Vijayawada as a YSR Congress candidate, has declared family assets of Rs.140 crore.
Prasad, an accused in the APIIC-Emaar scam, has movable assets of only Rs.3.35 lakh but his wife Vimala Devi has liquid assets of Rs.87.55 crore. Interestingly, Prasad has shown his annual income as Rs.2,280. His wife Vimala Devi's annual income is Rs.3.07 crore.