Andhra Pradesh CM Chandrababu Naidu tops the list, Arunachal Pradesh’s Pema Khandu comes second

New Delhi: Karnataka Chief Minister Siddaramaiah has emerged as the third richest Chief Minister in the country, according to a report by the Association for Democratic Reforms (ADR) that was released on Dec. 30.

The two-time Chief Minister has assets worth Rs. 52.59 crore and secured place after Andhra Pradesh CM Nara Chandrababu Naidu and Arunachal Pradesh’s Pema Khandu who hold first and second places in the richest CMs list with assets worth Rs. 931 crore and Rs. 332 crore respectively.

Meanwhile, Siddaramaiah is ranked second in terms of CMs with the highest liabilities. Siddaramaiah has liabilities worth Rs. 23 crore and only Pema Khandu stands above him with liabilities worth Rs. 180 crore. However, Naidu holds liabilities worth Rs. 10 crore, stated the ADR report. In contrast, West Bengal’s Mamata Banerjee is the least wealthy, with assets totalling Rs. 15 lakh.

Declared assets as per 2023 affidavit

Siddaramaiah has declared his family’s total assets at over Rs. 51 crore, according to his 2023 affidavit. His movable assets are valued at more than Rs. 21.32 crore, which include bank deposits and other financial instruments amounting to over Rs. 7 crore, investments in bonds, debentures, and shares worth approximately Rs. 2.42 crore, LIC policies and other insurance plans valued at over Rs. 33 lakh and jewellery valued at around Rs. 97 lakh, among other assets.

Additionally, Siddaramaiah owns immovable assets worth more than Rs. 30.61 crore. These include a combination of agricultural land, non-agricultural land and residential properties. However, Siddaramaiah’s affidavit also disclosed liabilities exceeding Rs. 23 crore, which include loans and other  financial obligations.

Criminal cases

According to the ADR report, 13 CMs have declared criminal cases against themselves, while 10 have declared serious criminal cases including those related to attempts to murder, kidnapping, bribery and criminal intimidation. Siddaramaiah is rocked by serious allegations of the 50:50 site allotment scam in Mysuru Urban Development Authority (MUDA).

Out of the 31 CMs, only two are women — West Bengal’s Mamata Banerjee and Delhi’s Atishi Marlena. The report claimed that two out of 31 Chief Ministers are billionaires.

 Three CMs have assets worth Rs. 50 crore or more, while nine own assets worth between Rs. 11 crore and Rs. 50 crore, the ADR report claimed.

Talking about educational qualifications, 10 out of 31 CMs are graduates, while two Chief Ministers have a doctorate. Six CMs are aged between 71 and 80, while 12 are aged between 51 and 60, the report added.