What makes Tejasvi Surya, BJP's Bengaluru South candidate, 30 times wealthier in 5 years?

What makes Tejasvi Surya, BJP’s Bengaluru South candidate, 30 times wealthier in 5 years?

Bengaluru South BJP candidate Tejasvi Surya has attributed his exponential rise in wealth to the capital market.

“Investing systematically in the capital markets through SIPs, mutual funds, and stocks has yielded significant returns due to the robust economy,” Surya told Moneycontrol in an interview.

His remarks come after his affidavit, revealing a 30-fold increase in his total assets over the last five years, from Rs 13.46 lakh in 2019 to Rs 4.10 crore in 2024.

“Thanks to the soaring capital markets and a burgeoning economy, returns have multiplied significantly, benefiting investors nationwide. I am one of those investors who have benefited from this flourishing economy,” he said.

“The primary driver behind these substantial returns in stock values and mutual funds is the good governance and rapid growth of the Indian economy under Prime Minister Narendra Modi. If anyone is looking for investment advice from me, I would recommend investing in Modi for multi-fold returns,” he said.

Also, read: MC Interview: Invest in Modi for multi-fold returns; Cong poll guarantees have no impact, says Tejasvi Surya

Surya, an advocate in the Karnataka High Court and nephew of BJP leader and Basavanagudi MLA Ravi Subramanya, stated he does not possess physical assets like cars or houses. According to the affidavit, his sources of income include professional earnings, MP salary, and interest and dividend.

“Over the past five years, alongside my duties as an MP, I’ve been practicing law and founded a law firm in Bengaluru, earning a salary from it. I do not own any gold, immovable property, vehicles, or other movable assets because all my investments are in the capital markets,” he said.

The 33-year-old BJP leader is also pushing for financial literacy in educational institutions. “A year ago in the Parliament, I advocated for the inclusion of financial literacy in school and college curricula to empower youth towards financial independence,” he said.

Asked about his diverse portfolio, comprising Rs 1.99 crore invested across 26 different mutual funds, he said: “I started investing in 2019 and am still in the learning phase. Many Twitter users, now X, have advised me to streamline my mutual fund holdings and offered stock tips, which I’m considering. My only regret is not entering the market earlier, as compounding works best with long-term investments.”

He said that he gains insights into the economy from stock performance. “I monitor stock performance for insights into the economy. It’s also a reflection of how the country’s economy is performing. As a political activist and parliamentarian, staying informed about the nation’s economic status is important” he said.

“In December 2023 alone, 42 lakh demat accounts were opened, indicating a surge of young investors, like myself, into the capital markets. Currently, there are a total of 15 crore demat accounts in the country,” he added.

Surya is contesting from the BJP stronghold of Bengaluru South against Congress candidate and former Jayanagar MLA Sowmya Reddy, who is also the daughter of the state transport minister Ramalinga Reddy.

Also, read: BJP MP Tejasvi Surya’s assets jump 30-fold in 5 years: Report