For Real Time Updates and Better ExperienceDownload the app Now!
Download the app Now!

With assets of ₹5,705 crore, TDP’s NRI candidate may be richest in fray

Updated: Apr 23rd, 2024

With family assets of more than ₹5,705 crore, NRI medical professional Pemmasani Chandra Sekhar may be the richest candidate in the Lok Sabha elections 2024.  

The Telugu Desam Party (TDP) candidate from Andhra Pradesh's Guntur constituency on Apr 22 declared his family assets in the affidavit submitted to the Election Commission while filing his nomination for the May 13 election.

The founder and CEO of ‘UWorld’ has left behind Konda Vishweshwar Reddy, the BJP candidate from Chevella Lok Sabha constituency in Telangana, who, earlier in the day, declared family assets of ₹4,568 crore.

Vishweshwar Reddy had declared family assets of ₹895 crore in 2019 while Chandra Sekhar is making his electoral debut with the next month’s election.

As per the affidavit, Chandra Sekhar and his wife Koneru Sriratna are both in business.

The 48-year-old did his MD in internal medicine at Geisinger Medical Centre in Danville, Pennsylvania, in 2005. Chandra Sekhar’s immovable assets are valued at ₹2,316.54 crore while that of his wife are ₹2,289.35 crore.

Dependent son Abhinav Pemmasani owns movable assets of ₹496.27 crore while dependent daughter Sahasra Pemmasani has movable assets of ₹496.47 crore.

The couple jointly have an investment of ₹2,402.36 crore in publicly listed companies in the US.

Chandra Sekhar owns five vehicles worth ₹6.11 crore including two Mercedes Benz, a Tesla Model X, and a Rolls Royce Ghost.

He has movable assets of ₹72 crore while those of his wife are valued at ₹34.82 crore. They have liabilities of ₹519 crore each.

The family has cumulative offshore assets of ₹16.51 crore.

In the calendar year 2022, the couple had a joint income of ₹605.57 crore. The same was ₹643.42 crore during 2021.

The TDP decided to field Chandra Sekhar from Guntur after sitting MP and business tycoon Galla Jayadev decided not to contest as he wanted to stay away from politics.

Hailing from Burripalem village of Guntur district, Chandra Sekhar did his MBBS from the Osmania Medical College in Hyderabad in 1999. Later, he moved to the US and completed post-graduation. He served as faculty at Johns Hopkins University and practices as a physician. He has been active in charity activities, helping students coming to the US from India for higher education in medicine.

He launched a non-profit NGO “UWorld” to help poor students.

Chandra Sekhar bagged the prestigious Ernst and Young award as a young entrepreneur in 2020 competing with about 200 top business leaders in the US. He also founded the Pemmasani Foundation, which organises health camps and supplies drinking water in villages in Guntur and Narasaraopet constituencies.

(Source: IANS)

-Edited for style

Also read:

Amit Shah’s wealth doubles in five years, nomination affidavit discloses