Chandrababu Naidu's Net Worth Soars by 30 Percent
Former Andhra Pradesh CM's Family Sees Massive Wealth Increase
Family's Assets Increase to Rs 2190 Crore
The net assets of former Andhra Pradesh Chief Minister N Chandrababu Naidu and his family have grown by nearly 30 percent in the financial year 2018-19, according to a recent disclosure. The family's cumulative net worth has risen by Rs 870 crore to Rs 2190 crore, up from Rs 1319 crore the previous year.
The increase in wealth is primarily attributed to the rise in the share prices of dairy company Heritage Foods, in which the Naidu family holds a substantial stake. On June 7, Heritage Foods shares closed at Rs 1503.30 on the National Stock Exchange (NSE), a significant increase from the previous year's closing price of Rs 880.70.
The family's assets have witnessed a steady increase over the past five years. In 2014, their net worth was estimated at Rs 1550 crore, which has since grown by over 41 percent to the current level of Rs 2190 crore.
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