M.T.B. Nagaraj, one of the 16 rebel MLAs who joined the BJP in Karnataka recently, has added Rs 185 crore to his wealth in just 18 months. Interestingly, he made 25.84 per cent (Rs 48 crore) of this wealth over six days in August, just a fortnight after he helped the fall of the Congress-JD(S) coalition government.
In his nomination affidavit to contest in the December 5 Hoskote assembly by-election, Nagaraj disclosed the net worth of over Rs 1,201 crore, including himself and his wife. During the previous assembly elections in 2018, he had declared assets worth Rs 1,015 crore.
Nagaraj has movable assets worth Rs 419.28 crore, an increase of 104.53 crore from the previous year. His wife Shantakumari's movable assets increased by 44.95 crore to 164.34 crore.
His immovable assets include an educational institute, wedding halls and commercial complexes in upscale localities across the city and 93 parcels of non-agriculture land in Bengaluru's suburbs. His cars, including Prado, Fortuner, Mercedes Benz, Bolero and Land Rover, are valued at Rs 2.54 crore, while his wife has a Porsche worth Rs 1.72 crore.
Nagaraj is a three-time legislator from Hoskote assembly seat in Bengaluru Rural district. He was the housing minister in the previous Congress-JD(S) coalition government. He, along with 16 other MLAs, was disqualified by the Speaker under the anti-defection law for defying his party's whip.
The BJP has fielded 13 disqualified legislators as its candidates for the December 5 assembly byelections hours after they joined the ruling party.