TDP's Guntur Candidate Pemmasani Chandra Sekhar Declared Richest in 2024 Lok Sabha Elections

Pemmasani Chandra Sekhar, the Telugu Desam Party's (TDP) candidate for the Guntur Lok Sabha seat in Andhra Pradesh, has declared family assets worth a staggering Rs 5,785 crore, making him the wealthiest contestant in the 2024 Lok Sabha elections. According to his election affidavit, Chandra Sekhar's individual assets amount to Rs 2,448.72 crore, while his wife, Koneru Sriratna, possesses Rs 2,343.78 crore, and their children collectively own nearly Rs 1,000 crore.

Chandra Sekhar, an NRI doctor-turned-politician, is making his electoral debut in the upcoming elections. His remarkable financial standing surpasses that of other candidates vying for a seat in the Lok Sabha, including Konda Vishweshwar Reddy, the BJP candidate from Telangana, who had declared family assets of Rs 4,568 crore.

The TDP's decision to field Chandra Sekhar for the Guntur seat has drawn significant attention, as the party denied the ticket to the sitting MP, Galla Jayadev, who won the seat in 2014 and 2019. Chandra Sekhar's journey to political prominence was marked by academic excellence and professional success, including completing his MBBS from Osmania University and pursuing higher studies in the United States. He has also founded an edu-tech company called 'UWorld' and has investments and stakes in multiple American companies.

Why this matters: The entry of wealthy NRI candidates like Pemmasani Chandra Sekhar into Indian politics highlights the growing influence of affluent individuals in the electoral landscape. The significant assets declared by these candidates raise questions about the role of money in politics and its potential impact on the democratic process.

Despite his substantial wealth, Chandra Sekhar carries a liability of Rs 1,138 crore to JP Morgan Chase Bank in the US. In the Guntur Lok Sabha constituency, a traditional battleground for the TDP and YSRCP, he will face K Venkata Rosaiah of the state's ruling party in the upcoming elections scheduled for May 13. As the richest candidate in the fray, Chandra Sekhar's campaign and performance will be closely watched by political observers and the public alike.

Key Takeaways

• TDP's Guntur candidate Pemmasani Chandra Sekhar has family assets worth Rs 5,785 crore.
• Chandra Sekhar, an NRI doctor-turned-politician, is the wealthiest contestant in 2024 Lok Sabha elections.
• His assets surpass that of other candidates like BJP's Konda Vishweshwar Reddy (Rs 4,568 crore).
• Chandra Sekhar has a liability of Rs 1,138 crore to JP Morgan Chase Bank in the US.
• His campaign and performance will be closely watched as the richest candidate in the fray.