With 31 MLAs in Karnataka holding assets exceeding Rs 100 crore, the state ranks as the wealthiest among legislators in India, according to a recent report. Deputy Chief Minister DK Shivakumar, boasting a fortune of over Rs 1,413 crore, is the richest in Karnataka and ranks as the second richest in the nation.
Following Karnataka, Andhra Pradesh comes in second with 27 millionaire legislators, while Maharashtra secures the third spot with 18.
Karnataka leads in total declared assets among its MLAs, amassing Rs 14,179 crore. Notably, four of India’s top 10 richest MLAs hail from Karnataka, alongside three legislators with the highest liabilities.
The study indicates that 76 of the 119 millionaire MLAs in India—accounting for 63 percent—are concentrated in Karnataka, Andhra Pradesh, and Maharashtra. Most of Karnataka’s wealthiest legislators are affiliated with the Congress party. Shivakumar relinquished the title of India’s richest MLA to Parag Shah, a BJP representative from Ghatkopar East in Mumbai.
Congress MLA Priya Krishna, who represents Bengaluru’s Govindarajanagar constituency, has declared assets worth Rs 1,156 crore, making him the third-richest MLA in Karnataka but placing him at the top for the highest liabilities nationally.
Karnataka has an average asset value of Rs 63.5 crore per MLA, ranking just behind Andhra Pradesh, where the average is Rs 65 crore. Additionally, Karnataka’s political wealth surpasses that of Maharashtra, where the average MLA’s assets stand at Rs 43.44 crore.
Both Karnataka and Andhra Pradesh feature four legislators each in the top 10 richest MLAs in India, which includes current and former Chief Ministers N Chandrababu Naidu and YS Jagan Mohan Reddy.
The wealth of these MLAs becomes particularly noteworthy as the Karnataka government gears up to introduce a bill aimed at doubling legislators’ salaries and increasing their allowances.
