From 'troubleshooter' to CM: Inside D.K. Shivakumar's Rs 1,400 crore empire as he prepares to become Karnataka CM
From 'troubleshooter' to CM: Inside D.K. Shivakumar's Rs 1,400 crore empire as he prepares to become Karnataka CMInstagram

Congress leader D. K. Shivakumar has officially been elected as the leader of the Karnataka Congress Legislature Party (CLP), clearing the way for him to become the next Chief Minister of Karnataka. The decision was formalised during a key CLP meeting in Bengaluru on Saturday, with the swearing-in ceremony expected to take place on June 3.

The leadership transition follows the resignation of senior Congress leader Siddaramaiah after completing three years in office, in line with the party's reported power-sharing arrangement. Shivakumar, who currently serves as Karnataka Congress president and Deputy Chief Minister, is set to take charge at a crucial political juncture for the state.

Known as one of the Congress party's most influential leaders in Karnataka, Shivakumar began his political journey in 1989 and has won multiple consecutive Assembly elections from the Kanakapura constituency. He played a pivotal role in the Congress party's return to power in Karnataka and has been at the centre of the state's political strategy in recent years.

Apart from his political influence, Shivakumar is also among India's wealthiest politicians. According to his election affidavit and reports by the Association for Democratic Reforms (ADR), he and his family declared assets worth approximately Rs 1,413 crore, including movable assets valued at over Rs 273 crore and immovable assets exceeding Rs 1,140 crore. His declared liabilities stand at around Rs 263 crore.

DK Shivkumar

The affidavit also revealed ownership of high-value properties, investments, gold and silver holdings, luxury watches and a Toyota Qualis registered in his name. Reports indicate that his wealth has grown significantly over the years, making him one of the richest legislators in the country.

With Shivakumar now set to occupy the state's top political office, attention is expected to shift towards cabinet formation, key ministerial appointments and the future leadership of the Karnataka Pradesh Congress Committee (KPCC), as the party navigates the next phase of governance in the state.

After Shivakumar, an eight-term MLA, was formally elected as the CLP leader, Venugopal praised both Siddaramaiah and Shivakumar for their commitment to the Congress party.

"I can proudly say that Siddaramaiah ji has won everyone over," he said, while taking a swipe at the BJP for doubting the party's ability to ensure a smooth transition of power.

While Siddaramaiah has already made it clear that he would not move to national politics, Venugopal also hinted that the Congress would continue to utilise him at the national level.

Finally, he praised Shivakumar, who had been waiting in the wings for over five years to become the Chief Minister. Recalling his long association with the party, Venugopal lauded Shivakumar for his "unmatched" love and loyalty towards the Congress.

Following the CLP meeting, Shivakumar along with Siddaramaiah met Karnataka Governor Thawarchand Gehlot to stake a claim to form the government. Given that the party has a comfortable majority in the Assembly, this would be a mere formality.

Addressing the media after the meeting, Venugopal also announced the much-awaited date for the swearing-in ceremony. "DK Shivakumar and his team will be sworn in on the evening of June 3," he said.

In fact, he also expressed confidence that the Congress would return to power in 2028 under the leadership of Shivakumar.

With the formalities over, the focus now shifts to who gets what in the incoming Cabinet. Maintaining caste, regional and factional balance will be key to Shivakumar's 23-month tenure as Chief Minister of Karnataka.