How Chandrababu Naidu Became India's Richest CM: Sources of His Wealth

Chandrababu Naidu holds the title for India's richest chief minister, since he has maintained a net wealth of ₹ 931 crore at present. Now, his cumulative wealth has dramatically increased over many years and hence is much more than state leaders.

Link with Heritage Foods End

The largest source of Naidu's wealth is his family's association with Heritage Foods Limited, a company he established in 1992. Heritage Foods operates in the dairy, retail, and agricultural sectors, offering a vast variety of products such as milk, yogurt, ghee, and paneer. It has a significant presence in southern India, and its shares have risen during Naidu's political stature.

Family in Business

Naidu's wife, Nara Bhuvaneshwari, is a significant shareholder in Heritage Foods. She holds more than 2.26 crore shares as of last June. His son, Lokesh, is also associated with the company. Naidu had handed over the operations of the company to his wife in 1994, who now runs it along with her daughter-in-law, Nara Brahmani.

The Company's Growth Story

Heritage Foods has emerged from purchasing 20,000 liters of milk per day to a current 1.6 million liters value at ₹4,400 crore. Listed in the stock market in 1994, when the share value shot up in the meteoric rise with Naidu as CM and the Modi government's key ally, later adversely affected by the market fluctuations.

Comparison with Other CMs

While Naidu leads the chart with ₹931 crore, second is Arunachal Pradesh Chief Minister Pema Khandu with ₹332 crore, and then Karnataka CM Siddaramaiah at ₹51 crore. In contrast, West Bengal Chief Minister Mamata Banerjee is at the bottom of the list with a net worth of just ₹15 lakh, according to an ADR report.