Rs 70 crore, Rs 251 crore and now Rs 840 crore: This is D K Shivakumar’s assets rise

D K Shivakumar, Congress leader and energy minister of Karnataka is richer by Rs 589 crore. He has reported a huge increase in wealth since the 2013 assembly elections.

Shivakumar had filed his nomination papers on Thursday from the Kanakapura assembly constituency. It may be recalled that Shivakumar had organised the stay of the 43 Gujarat Congress MLAs ahead of the crucial Rajya Sabha elections. It may also be recalled that he had been raided by the Income Tax Department.

The 55-year-old leader declared a total wealth of Rs 840 crore in his 94-page affidavit. This, in fact, is up from Rs 251 crore in 2013 and Rs 75 crore in 2008.

His movable assets are worth Rs 70,94,84,974 while the immovable assets declared come up to Rs 548,85,20,592. The remaining have been shown in the names of his wife and three dependents. Most of the increase has been attributed to an increase in market value in land holdings.

During the IT raids that were conducted recently, the officials claimed to have unearthed over Rs 300 crore worth of undeclared income. Shivakumar dabbles in various sectors including granite exports, real estate, cable television and real estate. He is also the owner of large tracts of land in and around Bengaluru.

He has also cited two cases against him which also includes one filed in an economic offences court.