Bengaluru, June 4 (Agencies)- With the elevation of D.K. Shivakumar (DKS) as Karnataka CM, he has emerged as India’s richest sitting CM in terms of declared assets, overtaking his Andhra Pradesh counterpart N. Chandrababu Naidu.
The 64-year-old Shivakumar has declared a net worth of over Rs. 1,413 crore. He surpasses Naidu, whose declared assets stand at about Rs. 931 crore, while Tamil Nadu Chief Minister C. Joseph Vijay follows with assets of over Rs. 640 crore.
According to his 2023 Karnataka Assembly election affidavit, Shivakumar’s total declared assets stand at around Rs. 1,413 crore, up from Rs. 840 crore in 2018. His holdings include movable assets worth Rs. 1,140 crore and immovable properties valued at Rs. 273 crore, against liabilities of about Rs. 265 crore.
Known for his high-profile public image, the affidavit also lists luxury watches, gold & silver holdings and a Toyota Qualis as his registered vehicle. He has declared ownership of luxury timepieces from brands such as Rolex and Hublot, along with significant bullion holdings.
Legal cases against Shivakumar
Shivakumar continues to face legal scrutiny in multiple cases, the most prominent being an Income Tax (IT) case linked to 2017 searches, during which officials reportedly recovered Rs. 8.59 crore from multiple locations. The IT Department has alleged that Shivakumar operated an extensive network of persons and premises across Delhi and Bengaluru to manage and utilise unaccounted cash. Following a chargesheet filed in a Bengaluru Special Court for economic offences, the Enforcement Directorate (ED) registered a money laundering case.
He was arrested by the ED in 2019 and spent 50 days in Tihar Jail before being released on bail. That same year, the then BJP-led Karnataka Government granted consent to the Central Bureau of Investigation (CBI) to probe allegations of Disproportionate Assets under the Prevention of Corruption Act.
After the Congress returned to power in 2023, the State Government withdrew the consent and transferred the case to the Karnataka Lokayukta.
The Karnataka High Court later dismissed the CBI’s challenge to the withdrawal, directing the agency to approach the Supreme Court. The CBI subsequently moved the Apex Court in 2024. Meanwhile, the Supreme Court quashed the ED’s money laundering proceedings linked to the case.
Land denotification
Another case that may continue to follow Shivakumar is the Benniganahalli denotification matter. He is accused of purchasing 4.2 acres of notified land in violation of provisions of the Karnataka Land Reforms Act.
BJP leader and former CM B.S. Yediyurappa, who denotified the land, was also named in the case and faced a Lokayukta chargesheet. Karnataka High Court quashed proceedings in 2015. Petitioners later approached Supreme Court but withdrew their plea. Anti-corruption activist S.R. Hiremath has since filed a Special Leave Petition seeking revival of the case.
This post was published on June 4, 2026 7:30 pm