DK Shivakumar is expected to become India's richest chief minister with declared assets of around Rs 1,413 crore, according to his 2023 election affidavit. The Congress leader's wealth places him above Andhra Pradesh CM N. Chandrababu Naidu and Tamil Nadu actor-turned-politician Joseph Vijay, who are also among the country's wealthiest political figures.
Shivakumar's financial profile includes extensive real estate holdings, with premium residential properties spread across Bengaluru, Mysuru, Kanakapura, and New Delhi.
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A key asset in his portfolio is a prime commercial mall site located in Bengaluru's Gopalpura area, with valuations that have significantly appreciated over the past two decades due to rising land prices in Karnataka.
His wealth also comprises investments, fixed deposits, and luxury assets, including high-end watches and accessories from global brands such as Rolex and Hublot.
According to his affidavit, Shivakumar's total assets include approximately Rs 1,140 crore in movable assets and Rs 273 crore in immovable properties, against liabilities of around Rs 265 crore. His business interests span real estate, infrastructure development, quarrying, and educational institutions, reflecting a diversified financial portfolio.
His political career has been marked by controversy. In August 2017, the Income Tax Department raided 67 locations linked to him. Around 300 officials conducted the operation for 80 hours, seizing Rs 8 crore from his Delhi residence and Rs 2 crore from other locations over alleged tax irregularities, as per media reports.
The ranking of India's richest chief ministers continues to show a strong southern dominance. Chandrababu Naidu, leader of the Telugu Desam Party, has declared assets of about Rs 931-Rs 936 crore, with a significant portion of his wealth linked to his holdings in Heritage Foods Limited, where he owns over 2.26 crore shares.
Tamil Nadu's Joseph Vijay follows with declared wealth exceeding Rs 640 crore.
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Among non-southern leaders, Arunachal Pradesh Chief Minister Pema Khandu stands out with declared assets of over Rs 332 crore, according to data from the Association for Democratic Reforms (ADR), making him one of the wealthiest chief ministers outside southern India.
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