Lok Sabha elections 2024: Out of 543 winning candidates, 504 are Crorepatis

93% of the candidates who won the 2024 Lok Sabha elections are millionaires, up from 88% in 2019, according to an analysis by the Association of Democratic Reforms or ADR. Out of 543 winning candidates, 504 are millionaires.

The top three wealthiest candidates are TDP's Chandra Sekhar Pemmasani from Andhra Pradesh's Guntur constituency with assets worth 5,705 crore rupees, BJP's Konda Vishweshwar Reddy from Telangana's Chevella with 4,568 crore rupees, and BJP's Naveen Jindal from Haryana’s Kurukshetra with 1,241 crore rupees.

In 2019, 475 (88 per cent) winning candidates were millionaires and 443 (82 per cent) in 2014.

The trend indicates a steady climb since 2009 when only 315 (58 per cent) MPs were millionaires.

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According to the analysis, 227 (95 per cent) of the BJP's 240 winning candidates, 92 (93 per cent) of the Congress' 99, 21 (95 per cent) of the DMK's 22, 27 (93 per cent) of the TMC's 29 and 34 (92 per cent) of the Samajwadi Party's 37 candidates have declared assets worth more than Rs 1 crore.

All winning candidates of the AAP (3), the JDU (12) and the TDP (16) are millionaires, ADR data showed.

The analysis also delves into candidates’ chances of winning based on their financial backgrounds.

It found that the probability of a millionaire candidate clinching victory in the 2024 Lok Sabha elections stood at 19.6 per cent, compared to a meagre 0.7 per cent for candidates with assets less than a crore.

The analysis also provides a breakdown of wealth distribution among the winning candidates.

The data showed that 42 per cent of the candidates possess assets totalling Rs 10 crore and above.

While 19 per cent of the candidates fall within the bracket of Rs 5 to 10 crore, 32 per cent hold assets ranging between Rs 1 and 5 crore.

Only about 1 per cent of the winning candidates have assets worth less than Rs 20 lakh.