DK Shivakumar set to become India’s richest Chief Minister: All you need to know about him

Karnataka Congress leader DK Shivakumar is set to become India's wealthiest Chief Minister after being chosen to lead the state, with declared assets worth Rs 1,413 crore as per his 2023 election affidavit.

Data compiled by the Association for Democratic Reforms (ADR) from election affidavits places Shivakumar ahead of Andhra Pradesh Chief Minister N Chandrababu Naidu, who has assets worth Rs 931 crore, and Tamil Nadu Chief Minister C Joseph Vijay, who has declared assets of Rs 648 crore. With this, the country's three richest chief ministers are all from southern India.

According to the ADR's 2025 ranking, Naidu was followed by Arunachal Pradesh Chief Minister Pema Khandu, who declared assets worth Rs 332 crore, and Karnataka's outgoing Chief Minister Siddaramaiah.

Shivakumar's affidavit shows total assets of Rs 1,413 crore, including Rs 1,140 crore in immovable properties and Rs 273 crore in movable assets. He has also declared liabilities amounting to Rs 265 crore.

From video parlour owner to Karnataka CM

Before emerging as one of Karnataka's most influential political figures, Shivakumar operated a small video parlour during the VHS era in the 1980s in what is now the Bengaluru South district. The outlet gradually became a popular meeting place for local youth, businessmen and aspiring political workers, helping him build grassroots connections early in life.

By the time he reached his late twenties, Shivakumar had entered electoral politics as an MLA. Over the next three decades, he strengthened his political base in Kanakapura alongside his younger brother and former Bengaluru Rural MP DK Suresh.

Through educational institutions, cooperative organisations and strong community networks, the brothers helped turn Kanakapura into a Congress stronghold. Shivakumar's business interests in the region's granite and quarrying sector also earned him the nickname "Kanakapura Bande" or "Rock of Kanakapura".

Wealth rose sharply over the years

Shivakumar's declared wealth has grown rapidly over the years. His assets rose from Rs 75.5 crore in 2008 to Rs 251 crore in 2013, increased to Rs 840 crore in 2018 and reached Rs 1,413 crore by 2023.

A substantial share of his wealth comes from inherited landholdings, investments and appreciation in property values. His election disclosures show that he inherited agricultural land through the wills of his father and grandmother.

He has declared residential properties in Bengaluru, Mysuru, Kanakapura and Delhi. His asset portfolio also includes a mall site in Bengaluru's Gopalpura area. Rising land prices across Karnataka over the past two decades have significantly boosted the value of these holdings.

Known for his fondness for designer clothing, luxury watches and an upscale lifestyle, Shivakumar also maintains a strong connection with rural communities through his agricultural roots and fluency in rustic Kannada.

His political career has not been without controversy. In August 2017, the Income Tax Department conducted raids at 67 locations linked to him. The operation, carried out by around 300 officials over 80 hours, resulted in the seizure of Rs 8 crore from his Delhi residence and another Rs 2 crore from other locations. The raids were conducted over alleged tax irregularities.

Two years later, in 2019, the Enforcement Directorate arrested Shivakumar in a money laundering case. Despite these setbacks, he remained a prominent force in Karnataka politics and continued to consolidate his position within the Congress.