On Monday, MTB Nagaraj, the minister of municipal administration, filed his nomination papers as a BJP contender for the Hoskote assembly constituency. He reported personal assets of 1,510 crores. When it comes to state candidates, Nagaraj is among the wealthiest.
He claimed to have $1,015 crore in assets during the 2019 by-elections. In just four years, he has seen a 495-crore rise in the value of his holdings.
Both Nagaraj and his wife Shanthakumari have taken out large loans—he for 71 crores and she for 27 crores. He has taken out loans from several institutions totalling Rs. 98 crores.
M.T.B. has an automobile collection worth Rs. 1.72 crores. He owns several cars, including an i10, a Land Rover Devender, and a Bolero. His wife has a pair of cars worth a combined 1.33 crore: a Porsche and an Innova Crysta. The combined cash holdings of MTB and his wife total 64 lakh.
His wealth, originally valued at 419.28 crores in the 2019 by-elections, has been reduced to 372 crore. There was a rise in the value of immovable property from 417.11 crore to 792 crore.
After four years, the value of his wife Shanthakumari’s wealth, which was 167.34 crore, is now only 163 crore. There was a rise in the value of immovable property from 167.34 billion to 274 billion.
MTB owns diamonds worth 98 lakh, gold worth 38 lakh, and silver worth 214 kilogrammes, for a total of 2.41 crore in jewels. His wife owns a jewellery collection valued at 1.64 crore that includes 2 kilogrammes of gold, 63 lakhs in diamonds, and 26 kilogrammes of silver.
Source: Prajavani
