Pemmasani family’s assets worth Rs 5,785 crore

The candidate of the Telugu Desam Party (TDP) for Guntur Lok Sabha constituency, Pemmasani Chandra Sekhar, has attracted attention after disclosing his family’s total assets, movable and immovable, worth Rs 5,785 crore in his election affidavit. This makes him one of the richest candidates in the current electoral race.

As per his affidavit, his individual assets are worth Rs 2,448.72 crore, his wife Sriratna Koneru’s assets amount to Rs 2,343.78 crore, while his children have nearly Rs 1,000 crore worth of assets.

Former Madhya Pradesh Chief Minister Kamal Nath’s son Nakul Nath had earlier topped the richest contestants list in the Phase-I of the Lok Sabha polls held on April 19, with nearly Rs 717 crore worth of assets, according to a press release by Association for Democratic Reforms (ADR). Chandra Sekhar’s family reportedly has a liability of Rs 1,138 crore to JP Morgan Chase Bank of the USA in the form of a Line of Credit.

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Chandra Sekhar has had a fascinating journey from Burripalem village in Andhra Pradesh to working as a physician teacher at Johns Hopkins University-Sinai Hospital to founding UWorld, an online learning and study resources platform. He completed his MBBS at NTR University of Health Sciences Vijayawada in 1999 and pursued MD (Internal Medicine) from Geisinger Medical Center in Danville, Pennsylvania in 2005

. He secured the 27th rank among 60,000 students who took the EAMCET medical entrance examination (MBBS) in the state, which was considered one of the most competitive examinations in the country. Chandra Sekhar has been working on behalf of the TDP’s NRI wing since 2010, supporting several welfare programmes of the party. Though he desired to contest the Lok Sabha polls from Narasaraopet segment in 2014,TDP allotted the ticket to R Sambasiva Rao due to political issues. In a joint filing with his wife, he declared Rs 605.57 crore as per US Tax Cycle Year January 2022 to December 2022 in the USA.

He has investments and shares in several US-based firms and also owns luxury cars such as Rolls Royce Ghost, Mercedes Benz, and Tesla in the USA. Chandra Sekhar will be competing against K Venkata Rosaiah of the YSR Congress Party in the upcoming elections.