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Vinesh Phogat, a prominent figure in Indian wrestling, has made headlines not only for her athletic achievements but also for her foray into politics. After winning the Julana constituency in the 2024 Haryana Elections as a Congress candidate, Phogat's financial disclosures have drawn attention, revealing the substantial assets, investments, and liabilities that contribute to her overall wealth. The disclosures paint a picture of a successful athlete who has leveraged her career and other ventures to build a strong financial foundation.
Phogat's earnings have demonstrated a steady upward trend over the past few years. In the financial year 2023-24, she reported an income of ₹13.85 lakh, slightly lower than the ₹20.5 lakh she earned the previous year. However, her earnings have fluctuated over the last five years, with the highest being ₹24 lakh in 2019-20. This fluctuation highlights the dynamic nature of income for athletes, which can be influenced by factors such as competition wins, endorsements, and other commercial opportunities. Despite the variations, Phogat has maintained a strong financial position, largely attributed to her sports achievements and endorsements.
Phogat's assets include a significant cash reserve of ₹1.95 lakh (as of September 6, 2024), substantial bank deposits, and valuable investments. She holds nearly ₹23 lakh in her Axis Bank Savings account, ₹16.7 lakh in her SBI account, and ₹18,646 in her ICICI account. These substantial bank deposits underscore her financial prudence and ability to manage her income effectively. Her investments further bolster her net worth. She owns an insurance policy with Axis Bank, with a premium value of ₹1.50 lakh, indicating a focus on financial security and risk management.
Furthermore, Phogat's assets include a collection of vehicles. She owns a Volvo XC 60 (valued at ₹35 lakh), a Hyundai Creta (₹12 lakh), a Toyota Innova (₹17 lakh), and a TVS Jupiter scooter (₹40,000). The possession of multiple vehicles, ranging from a luxury SUV to a scooter, suggests a comfortable lifestyle and a preference for diverse modes of transportation. Additionally, she owns valuable jewelry, including 35 grams of gold worth ₹2.24 lakh and 50 grams of silver worth ₹4,500. These investments in gold and silver represent a traditional form of asset preservation and wealth accumulation.
One of the most significant assets in Phogat's portfolio is her residential property, valued at ₹2 crore. She purchased this property for ₹1.85 crore, showcasing her investment in real estate. Owning a residential property is a significant investment that provides stability and potential for appreciation. While Phogat has amassed substantial assets, her financial disclosures also reveal liabilities. She has a car loan for her Toyota Innova from Canara Bank, amounting to ₹13.6 lakh. This car loan reflects a common financial practice of utilizing credit for acquiring assets, which can help manage cash flow and optimize expenses.
Vinesh Phogat's financial disclosures offer a glimpse into the financial landscape of a successful athlete and politician. Her diverse portfolio of assets, investments, and liabilities showcases a careful approach to managing wealth and a commitment to financial security. As Phogat continues to navigate her political career, her financial standing provides her with a solid foundation to pursue her goals and represent her constituents effectively.
Source: Vinesh Phogat net worth: Check the wrestler-politician’s value in movable and immovable assets