Shri Thanedar is an American author, businessman, and politician who is currently serving as the United States representative from Michigan’s 13th congressional district since 2023. Shri Thanedar is a strong member of the Democratic party and has served as a member of the House of Representatives since 2021.
Many people have been curious about Shri Thanedar’s net worth as they have been visiting different sites for answers. This article has all you need to know about Shri Thanedar and his net worth. Follow Crossover99.com for more news and updates.
Early Life
Shri Thanedar was born on February 22 1955 in Belgaum India. He grew up in a lower-income family in Belgaum. His father was forced to retire at the age of 55 and he had to resort to odd jobs in other to support the family.
He pursued a degree at the University of Bombay and earned a bachelor’s degree in Chemistry at the age of 18. Shri Thanedar then moved to the United States of America in 1979 to pursue a Ph.D. at the University of Akron. He became a citizen of America in 1988.
Career
Shri Thanedar began as a post-doctoral worker at the University of Michigan before taking a job in 1984 as a researcher at Petrolite Corp. However, in 1990 he took a night job at Chemir Polytech Laboratories to learn the business.
He also took a loan to buy Chemir in 1991 for 75,000. The company saw significant growth and by the first year had over $150,000 in revenue. The company which started with three employees grew significantly and by 2005 it had over 160 people employed which included PhD chemists.
Shri Thanedar then borrowed $24 million from Bank of America to finance seven acquisitions offering the bank a personal guarantee to back the debt. However, due to the recession in the United States of America in 2006, Azopharma one of its acquisitions revenue fell by over 70%.
This forced the company to close down and assets were sold for $2 million. Shri Thanedar briefly retired in 2010 and then made a comeback a year later when he announced the launching of Avomeen Analytical Services.
The company is an Ann Arbor-based chemical testing laboratory that was opened alongside his son Neil. Shri Thanedar sold a majority of the stake in the business to private investors known as High Street Capital.
He shared $1.5 million of the proceedings with his 59 employees. He was named the Ernst and Young Entrepreneur of the Year for the Central Midwest Region in 1999, 2007, and 2016. He currently also maintains about 40% ownership of Avomeen.
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Political Career
Shri Thandenar began his political career in 2018 when he contested the 2018 Michigan gubernatorial election as a Democrat. His agenda included a $15 minimum wage, public education reform, instructional development, and increased government transparency.
However, despite having a Super Bowl ad in February 2018 which made him the best-known Democratic candidate for governor he faced a lot of controversies that hurt his campaign and he was not able to poll over 30% despite winning the city of Detroit.
He finished third Statewide and received 200645 notes which were 17.7% placing him third behind Whitmer with 52.0% and Abdul El Sayed with 30.2%. In August 2019 Thanedar was reported to have submitted paperwork to run for State Representatives in Michigan’s 3rd district.
Shri Thanedar in 2022, gave up his state house seat in other to run for Michigan’s 13th congressional district. The incumbent Rashida Tlaib also had her home drawn into the 12th district and was reelected there. He eventually won the open primary by defeating state senator Adam Hillier. He went on to win the November 8 general election against Martell Bivings.
Shri Thanedar’s Net Worth
Shri Thanedar as of August 2023, has an estimated net worth of about $5 million. He had been widely regarded as one of the richest Indian entrepreneurs in the United States of America. His huge net worth is a result of his major stake in Avomeen as well as his strong political ambitions.
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Who Is Shri Thanedar Dating?
Shri Thanedar is currently married to Shashi. The couple got engaged and married in 1999. However, Thanedar was previously married to Shamal in 1984. The couple have two sons together but she sadly passed away through suicide in 1996.