With declared family assets worth Rs 5,705 crore, NRI Dr Chandrasekhar Pemmasani, the richest candidate in the Lok Sabha elections 2024, is set to win from the Guntur parliamentary constituency. He has taken an unassailable lead of over 3 lakh votes and secured over 60% vote share in the constituency.
According to the Election Commission of India website, Telugu Desam Party (TDP) candidate Pemmasani has secured 829271 votes (60.79%) and is leading by 332740 votes. YSRCP candidate KILARI VENKATA ROSAIAH got 505263 votes (36.49%).
It is pertinent to note that while the richest candidate, Chandrasekhar Pemmasani made his political debut in this election, he came from a political background. In 2014, he had planned to contest from Narasaraopet due to various reasons he did not get the ticket.
Pemmasani (48) is a native of Guntur district. He is a medical doctor who completed his MBBS from the Dr NTR University of Health Sciences in 1999. In 2005, he went on to receive an MD in internal medicine from the Geisinger Medical Centre in Pennsylvania, USA.
When just 25 years of age and working at Johns Hopkins University, he founded UWorld, an online learning platform that assists students in preparing for examinations like the SAT, MCAT and the United States Medical Licensing Examination. In 2020, he won the Ernst & Young Entrepreneur of the Year Award and remains the CEO of UWorld.
Incidentally, in Guntur, Pemmasani will be replacing another rich candidate of the TDP Galla Jayadev. Jayadev was the MD of Amara Raja Group who had declared assets worth Rs 680 crore in 2019. He had announced his retirement from politics ahead of the elections.
According to TDP leaders, in Narasaopet, Pemmasani is renowned for his philanthropic endeavours, including the establishment of a school and the coordination of various social events. As per TDP leaders, he began actively participating in political campaigns during the 2014 elections and remained engaged in the 2019 elections as well. Additionally, he is also active in the TDP’s non-resident Indian cell.
According to his affidavit, Pemmasani has investments in over 100 companies and has reported income in both India and the US. His movable assets include two Mercedes cars, one Tesla, and a Rolls Royce. Additionally, he possesses land and property in Hyderabad, Tenali, and the US. Pemmasani also bears liabilities totalling Rs 1,038 crore and faces one pending FIR against him for IPC offences concerning illegal payments and bribery in connection with an election.
The Guntur Lok Sabha seat in Andhra Pradesh went for to polls on 13th May.
