Sunday, October 07, 2018

Five Indian-Origin Billionaires Named in Forbes’ List of Richest Americans

Five Indian Americans figure in Forbes magazine’s recently-released list of the 400 richest Americans. The Indian-origin billionaires moved to the United States early in their careers and have made a mark in the country as successful businessmen.

Of all the Indian Americans who made it to the list, four are part of the technology industry while one made his riches in the airline business.

The list of Indian Americans is topped by Romesh T. Wadhwani, followed by Rakesh Gangwal, Vinod Khosla, Kavitark Ram Shriram, and Niraj Shah.

Kolkata-born Rakesh Gangwal, 64, is at No. 354 with a net worth of $2.3 billion. The airline veteran is the co-founder of InterGlobe Aviation, which owns IndiGo Airlines, India’s largest low-cost private carrier.

Gangwal earned his bachelor’s degree in mechanical engineering from the Indian Institute of Technology, Kanpur, and did an MBA from Wharton before landing a job with the United Airlines in 1984. He later went on to become the CEO and Chairman of the US Airways Group. He co-founded IndiGo in 2006, along with Rahul Bhatia, who is also in the Forbes India billionaires list.

Until earlier this year, Gangwal was the richest Indian American in the United States, with $3.3 billion, but since March his wealth has dropped by $1 billion due to the falling share prices at Indigo.
06/10/18 Little India
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