Explained: Why Jagan Mohan Reddy is India's richest CM; net worth, property, business details

Jagan Mohan Reddy is India's richest chief minister, said the Association for Democratic Reforms (ADR) in a recent report. The non-profit analysed the poll affidavits of 30 chief ministers in the country. It found that barring Mamata Banerjee, all CMs are crorepatis. Banerjee's net worth is only Rs 15 lakh. With Rs 510 crore, Reddy, Andhra's charismatic CM, sits in the top position on the list. The average assets of all CMs is worth Rs 33.96 crore.

Arunachal Pradesh's Pema Khandu (Rs 163 crore) and Odisha's Naveen Patnaik (63 crore) followed Reddy on the list. Kerala's Pinarayi Vijayan (over Rs 1 crore), and Haryana's Manohar Lal (over Rs 1 crore) are on the bottom of the list, along with Banerjee. Nitish Kumar and Kejriwal have assets worth Rs 3 crore.

Jagan Mohan Reddy's business?

Jagan Mohan Reddy founded the Telugu newspaper Sakshi and a news channel with the same name. He is also the promoter of Bharathi Cements. He had been a successful businessman even before he joined politics after the demise of his father in a chopper crash. He owns cement plants, infrastructure and media channels. 

In a recent interview, MD of Bharati Cement, Ravinder Reddy told Sakshi Post that Reddy is a research-oriented businessman. The company rose because of his leadership, he added.

His 2019 poll affidavit says he owns assets worth Rs 375 crore. He doesn't own a vehicle. His movable assets are worth Rs 339 crore.

In 2019, his wife YS Bharathi Reddy owned assets worth Rs 124 crore out of which Rs 31 crore are immovable assets.

His two daughters own movable assets of Rs 11 crore each. 

His 2018 income was Rs 25.89 crore. 

He owns non-agricultural land worth Rs 8.42 crore. His commercial buildings are valued over Rs 14.46 crore. He has a property in Hyderabad, priced Rs 12 crore.