TDP’s Chandra Sekhar Pemmasani, richest Lok Sabha Candidate from Guntur seat

The TDP’s nominee for the Lok Sabha seat in Guntur, Chandra Sekhar Pemmasani, may be the richest candidate in the current Andhra Pradesh Lok Sabha elections after he revealed family assets worth around Rs 5,785 crore.

With family assets assessed at ₹5,785 crore, Chandra Sekhar Pemmasani stands out as the wealthiest candidate. YSR Congress Party member K Venkata Rosaiah is his opponent.

According to his affidavit, his personal assets total Rs 2,448.72 crore, while his wife, Koneru Sriratna, possesses assets worth Rs 2,343.78 crore, and their children collectively hold assets nearing Rs 1,000 crore. However, the family has a liability of Rs 1,138 crore to JP Morgan Chase Bank of USA.

In a joint declaration with his wife, Chandra Sekhar revealed Rs 605.57 crore in assets for the US Tax Cycle Year from January 2022 to December 2022. Their dependent son, Abhinav Pemmasani, owns movable assets valued at Rs 496.27 crore, while their dependent daughter, Sahasra Pemmasani, holds movable assets worth Rs 496.47 crore. His nomination by the TDP for the Guntur seat follows the withdrawal of the incumbent MP Galla Jayadev, a business magnate, who chose to step away from the political landscape.

It’s worth noting that he has surpassed Konda Vishweshwar Reddy, the BJP candidate from Chevella Lok Sabha constituency in Telangana, who declared family assets of Rs 4,568 crore earlier in the day. Reddy had reported family assets of Rs 895 crore in 2019, while Chandra Sekhar is contesting in the fourth phase of Lok Sabha polls scheduled for May 13.

Some notable facts about Chandra Sekhar Pemmasani:

1. Chandra Sekhar Pemmasani originates from Burripalem village in Guntur. He pursued MBBS from Osmania University and completed his residency at Geisinger Medical Center in Danville, Pennsylvania. He served as an attending physician at Johns Hopkins University–Sinai Hospital for approximately five years, where he also taught residents and medical students.
2. He is the founder and CEO of UWorld, an online learning platform, which stemmed from his postgraduate years when he authored a study guide for the United States Medical Licensing Examination (USMLE) exam. He established USMLEWorld, later rebranded as UWorld, at the age of 25.
3. Chandra Sekhar Pemmasani entered into politics following his father’s footsteps, who was also a TDP leader. He actively participated in the TDP NRI cell and organized party events during his tenure in America. He succeeded the two-time parliamentarian Galla Jayadev, who retired from politics in January 2024.
4. Chandra Sekhar Pemmasani was honored with the Ernst and Young Award as a young entrepreneur in 2020 in the US. He also established the Pemmasani Foundation, which conducts health camps and provides clean drinking water to villages in Guntur and Narasaraopet.
5. Chandra Sekhar owns a fleet of five vehicles worth Rs 6.11 crore, including two Mercedes Benz, a Tesla Model X, and a Rolls Royce Ghost. His personal movable assets total Rs 72 crore, and his wife’s assets amount to Rs 34.82 crore. Both share a liability burden of Rs 519 crore each. The family also possesses offshore assets worth Rs 16.51 crore.
6. Chandra Sekhar is involved in charitable work, especially helping Indian students pursuing medical degrees in the United States. In 2020, he received the esteemed Ernst and Young award, which demonstrated his entrepreneurial abilities to more than 200 notable business leaders in the United States.
7. Moreover, he founded the Pemmasani Foundation, aimed at organizing health camps and providing clean drinking water to villages in the Guntur and Narasaraopet regions.