BENGALURU: Karnataka's Deputy Chief Minister D K Shivakumar is set to take office as the wealthiest chief minister in the country. His total declared assets stand at Rs 1,413 crore, according to an election affidavit-based analysis compiled by the Association for Democratic Reforms (ADR).
The ADR report 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, with Rs 648 crore. This means that the three richest chief ministers in India are now all from the southern states. In the 2025 list, Naidu was followed by Arunachal Pradesh's Pema Khandu with Rs 332 crore and Karnataka's outgoing Chief Minister Siddaramaiah.
Lavish Lifestyle and Luxury Brands
Unlike many politicians who consciously cultivate an image of austerity through simple attire, Shivakumar wears his wealth quite literally. His wardrobe is a curated collection of the world's most recognisable luxury brands, including Louis Vuitton, Chanel, Prada, Burberry, and Gucci, alongside premium watches from Rolex and Cartier. Another personal touch is the customised 'dk' monogram on his shirts and kurtas.
Asset Breakdown
Shivakumar's total assets include Rs 1,140 crore in immovable property and Rs 273 crore in movable assets. His liabilities stand at Rs 265 crore. He has previously stated that his assets are declared transparently in his and his family's names. "Many others in the state or country have companies which hold their assets; I am straightforward in my assets and liabilities," he had said in an interview with TOI.
He once arrived at a garbage segregation plant on Hosur Road in Bengaluru with a Louis Vuitton scarf knotted at his neck, a detail that did not go unnoticed.
Growth in Assets Over Time
If his sartorial confidence has grown, so have his declared assets, from Rs 75.5 crore in 2008 to Rs 251 crore in 2013, Rs 840 crore in 2018, and Rs 1,413 crore in 2023. Much of this increase has come from inheritance of land, investments, and appreciation of their value. His declarations show agricultural lands handed to him through the wills of his father and grandmother. He has declared residential properties across Bengaluru, Mysuru, Kanakapura, and Delhi, including a mall site in Gopalpura in Bengaluru. With land prices in Karnataka booming over the last two decades, the value of his land assets has soared.
Comparison with Other Elected Representatives
Among elected representatives in India, affidavit data shows the richest are AIADMK MLA Leema Rose Martin, with declared assets of Rs 5,863 crore and liabilities of Rs 340 crore, and Maharashtra MLA Parag Shah, with declared assets of Rs 3,383 crore. Shivakumar is also among the richest elected representatives in the country.
