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

With the final tally of the elected members of the 18th Lok Sabha coming, poll rights body Association of Democratic Reforms (ADR) in its analysis revealed that a staggering 93 per cent of the winning candidates are millionaires, which is 15 per cent more than those who got elected in 2019.

Among the top three wealthiest winners two are from BJP including Konda Vishweshwar Reddy from Telangana’s Chevella with total assets amounting to Rs 4,568 crore and Naveen Jindal from Haryana’s Kurukshetra with assets worth Rs 1,241 crore. But TDP’s Chandra Sekhar Pemmasani from Andhra Pradesh’s Guntur constituency tops the chart with assets worth Rs 5,705 crore.

Out of the 543 winning candidates, 504 are millionaires, the analysis found. In 2019, 475 (88 percent) winning candidates were millionaires and 443 (82 percent) in 2014. The trend indicates a steady climb since 2009 when only 315 (58 percent) MPs were millionaires.

According to the analysis, 227 (95 percent) of the BJP’s 240 winning candidates, 92 (93 percent) of the Congress’ 99, 21 (95 percent) of the DMK’s 22, 27 (93 percent) of the TMC’s 29 and 34 (92 percent) 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, the ADR said in its analysis report.

The ADR in its analysis also found that candidates’ chances of winning appeared to be 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 percent compared to a meager 0.7 percent 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 percent of the candidates fall within the bracket of Rs 5 to 10 crore, 32 percent hold assets ranging between Rs 1 and 5 crore.

Only about 1 percent of the winning candidates have assets worth less than Rs 20 lakh. For instance, BJP’s Jyotirmay Singh Mahato from West Bengal’s Purulia has declared assets totaling a mere Rs 5 lakh. Similarly, TMC’s Mitali Bag from West Bengal's Arambagh holds assets worth Rs 7 lakh. Assets of SP's Priya Saroj from Uttar Pradesh's Machhlishahr are valued at Rs 11 lakh.

In addition, the analysis identifies candidates with high liabilities. TDP’s Pemmasani tops the list with liabilities exceeding Rs 1,038 crore. DMK’s S Jagathratchakan from Tamil Nadu’s Arakkonam has liabilities worth Rs 649 crore and TDP’s Prabhakar Reddy Vemireddy from Andhra Pradesh’s Nellore has liabilities worth Rs 197 crore.