Anumula Revanth Reddy, hailed for leading the Congress to a resounding victory in the 2023 Telangana elections, is poised to take the reins as the state's chief minister on December 7, 2023. Despite his roots in farming, Reddy's disclosed financial assets are nothing short of astonishing.
As per his submission to the Election Commission, Revanth Reddy's wealth has seen a meteoric rise over the past four years, accompanied by a substantial decrease in his debts. Interestingly, the declared affidavit reveals a lack of investments in government schemes, the stock market, or mutual funds for Reddy, although his wife holds a Life Insurance Corporation (LIC) policy.
Wealth Comparison from 2019 to 2024
Revanth Reddy's total wealth stands at Rs 30.04 crore, comprising movable assets valued at Rs 5.17 crore and immovable assets amounting to Rs 24.87 crore. The couple jointly owns a significant portion of this wealth, with Reddy's wife possessing immovable property worth Rs 15.02 crore, while the Congress leader owns assets valued at Rs 8.62 crore. Their movable assets sum up to Rs 2.18 crore for Reddy and Rs 2.92 crore for his wife.
In comparison, Reddy's wealth in the 2019 Lok Sabha election affidavit was Rs 24.53 crore, which has since surged to Rs 30.04 crore. This shows a remarkable increase of Rs 5.51 crore in his assets and a decrease in his debts from Rs 2.93 crore in 2019 to Rs 1.90 crore in 2023.
Investment Portfolio and Property Holdings
Notably, Revanth Reddy has steered clear of stock market investments, while his wife holds a modest Rs 2.16 lakh investment in a real estate company and a Rs 5 lakh LIC policy. The couple also possesses significant amounts of gold and silver, with 1235 grams of gold and 9700 grams of silver owned by Reddy's wife.
Their property holdings include agricultural land valued at Rs 7.77 crore, out of which HUF (Hindu Undivided Family) holds land worth Rs 1.25 crore. Moreover, their non-agricultural land is valued at over Rs 4.82 crore, and they own two houses, each worth Rs 12.28 crore.
Revanth Reddy's astounding financial trajectory paints a picture of substantial growth in wealth and a noteworthy reduction in liabilities over the past few years.