Karnataka Chief Minister-designate D K Shivakumar, who is set to take oath on June 3, declared total assets worth Rs 1,413.78 crore in the affidavit he had filed ahead of the 2023 Karnataka Assembly elections.
With assets exceeding Rs 1,400 crore, Shivakumar is one of the wealthiest politicians in the country and is set to be the richest serving chief minister after assuming office.
The Congress leader’s wealth has witnessed a sharp rise over the years. In his 2018 election affidavit, Shivakumar and his dependents had declared assets worth Rs 840.08 crore, indicating a substantial increase by 2023.
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According to the affidavit, the family’s movable assets were valued at Rs 273.42 crore, while immovable properties accounted for Rs 1,140.36 crore. Of the total immovable assets, properties worth Rs 972.65 crore were held in Shivakumar’s name.
The affidavit also disclosed liabilities amounting to nearly Rs 263 crore.
The family’s extensive wealth extends beyond Shivakumar. In the 2024 Lok Sabha elections, his brother and former MP D K Suresh declared assets worth over Rs 593 crore in his nomination papers.
The Kanakapura MLA’s election affidavit also listed a registered Toyota Qualis among his vehicles, along with luxury watches from premium brands such as Rolex and Hublot, besides significant holdings in gold and silver.
Shivakumar’s Political Journey
A senior Congress leader and one of the party’s most influential figures in Karnataka, Shivakumar most recently served as the state’s Deputy Chief Minister and Karnataka Pradesh Congress Committee (KPCC) chief. His elevation came after Siddaramaiah stepped down as Chief Minister last week, clearing the way for Shivakumar to assume the state’s top post.
He began his political journey at a young age and secured his first Assembly victory in 1989. Over the decades, he has emerged as one of the party’s most influential figures in Karnataka politics.
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A multiple-term legislator from the Kanakapura constituency, Shivakumar has held several important positions in successive state governments, including portfolios related to energy and urban development.
Following the Congress’s decisive win in the 2023 Karnataka Assembly elections, he was appointed Deputy Chief Minister under Siddaramaiah while continuing to play a central role in the party’s organisational affairs in the state.
