DK Shivakumar To Succeed Siddaramaiah As Karnataka CM-Inside His ₹1,413.80 Cr Net Worth: Toyota Qualis, Rolex And More

(MENAFN- Live Mint) During a breakfast meeting hosted at his residence for cabinet colleagues on Thursday, Siddaramaiah informed ministers about his decision to resign and said Deputy Chief Minister DK Shivakumar would succeed him, following directions from the Congress high command.

Siddaramaiah handed over his resignation to the Governor's Special Secretary at Lok Bhavan. Special Secretary Prabhu Shankar accepted the resignation in the absence of Governor Thaawarchand Gehlot. Deputy Chief Minister DK Shivakumar and several cabinet ministers were present alongside Siddaramaiah when he submitted his resignation.

"I have received the resignation, but it will be accepted by the Governor," Prabhu Shankar stated, according to PTI.

In a photograph shared by the Chief Minister's Office from the gathering, Siddaramaiah is seen embracing an emotional Shivakumar.

DK Shivakumar's net worth

DK Shivakumar has a declared total net worth of ₹1,413 crore (over $170 million). According to his official election affidavit, this figure includes movable assets worth ₹1,140 crore and immovable properties valued at ₹273 crore, against liabilities of about ₹265 crore.

Also Read | Karnataka Governor not in Bengaluru as CM change speculation intensifies

These figures were submitted to the Election Commission during the 2023 Karnataka Assembly elections.

The disclosure marked a significant increase from the ₹840.08 crore in assets declared in 2018.

Also Read | Karnataka Politics LIVE: Turned down Rajya Sabah offer, says Siddaramaiah

The affidavit also stated that Shivakumar owned one registered vehicle - a Toyota Qualis, along with luxury watches from brands such as Rolex and Hublot, besides holdings in gold and silver. It further revealed that 19 criminal cases were pending against Kanakapura MLA when he filed his nomination papers for the 2023 Karnataka Assembly elections.

What happened in recent New Delhi meeting?

Both Siddaramaiah and Shivakumar were in New Delhi on Tuesday, where they attended a meeting with senior Congress leaders, including Mallikarjun Kharge and Rahul Gandhi.

Officially, the Congress maintained that the discussions focused on the upcoming Rajya Sabha and Legislative Council elections, dismissing reports of a possible leadership change in Karnataka as mere“speculation.”

Also Read | Karnataka Politics: Inside Siddaramaiah's economic model

Congress General Secretary KC Venugopal told reporters that candidates for the Rajya Sabha seats from Karnataka would be announced together with nominees from other states.

"Today, we had a detailed meeting with Congress president Mallikarjun Kharge and LoP Rahul Gandhi. Chief Minister Siddaramaiah and Deputy CM DK Shivakumar, general secretary incharge of Karnataka (Randeep Singh Surjewala) and I were part of the discussion. The entire discussion was concentrated only on upcoming Rajya Sabha elections and Council Elections of Karnataka," Venugopal said, as per ANI.

"Whatever speculation you people are doing is only speculation; no reality at all...The candidates of Rajya Sabha and Council seats of Karnataka will be announced along with the other seats like that from other states...This is what we decided today and nothing else," he added.

The Congress government in the state has completed three years in office. Over the last 18 months, supporters of Shivakumar have repeatedly asserted that he would eventually assume the role of Chief Minister.

MENAFN28052026007365015876ID1111178249