Lok Sabha Elections 2024: Telugu Desam Party (TDP) candidate for the Guntur Lok Sabha seat, Pemmasani Chandra Sekhar, has garnered attention after disclosing his family assets, including movable and immovable, amounting to Rs 5,785 crore in his election affidavit, possibly making him the wealthiest contestant in the current electoral race.
According to a press release by the Association for Democratic Reforms (ADR), Nakul Nath, son of former Madhya Pradesh Chief Minister Kamal Nath, emerged as the wealthiest contestant in Phase-I of the Lok Sabha polls held on April 19, boasting assets worth nearly Rs 717 crore.
Sekhar's individual assets stand at Rs 2,448.72 crore
As per the affidavit filed by Sekhar, his individual assets stand at Rs 2,448.72 crore, while his wife, Sriratna Koneru, possesses assets worth Rs 2,343.78 crore. Additionally, their children collectively own nearly Rs 1,000 crore in assets. However, the family also bears a liability of Rs 1,138 crore to JP Morgan Chase Bank of the USA in the form of a Line of Credit.
Dependent son Abhinav Pemmasani possesses movable assets valued at Rs 496.27 crore, while dependent daughter Sahasra Pemmasani owns movable assets amounting to Rs 496.47 crore. Additionally, the couple jointly has investments totalling Rs 2,402.36 crore in publicly listed companies in the US.
In a combined filing with his wife, he disclosed assets worth Rs 605.57 crore for the US Tax Cycle Year from January 2022 to December 2022. These assets are held in the United States. He holds investments and shares in multiple US-based companies. Additionally, he owns luxury vehicles including a Rolls Royce Ghost, Mercedes Benz, and Tesla in the USA.
Who is P Chandra Sekhar?
Chandra Sekhar's journey, from his roots in Burripalem village in Andhra Pradesh to his role as a physician-educator at Johns Hopkins University - Sinai Hospital, and later founding UWorld, an online learning and study resources platform, is undeniably remarkable.
He completed his MBBS at NTR University of Health Sciences, Vijayawada in 1999, and pursued MD (Internal Medicine) at Geisinger Medical Center in Danville, Pennsylvania, graduating in 2005.
His academic prowess was evident when he secured the 27th rank among 60,000 students in the EAMCET medical entrance examination for MBBS in the state, a highly competitive feat in the country.
Driven by his passion for public service, Chandra Sekhar has been actively involved with the TDP's NRI wing since 2010, supporting various welfare programs of the party.
Although he aspired to contest the Lok Sabha elections from the Narasaraopet segment in 2014, the TDP allocated the ticket to R Sambasiva Rao due to prevailing political circumstances.
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.
Chandra Sekhar will face off against K Venkata Rosaiah of the YSR Congress Party in the upcoming elections.
(With PTI inputs)
