Five Indian-Americans among the richest in the US: Forbes

Press Trust of India New York | Updated on January 16, 2018 Published on October 09, 2016


Rakesh Gangwal


Five Indian-Americans are among the richest in the US, according to a Forbes list of 400 people which is topped by Microsoft’s co-founder Bill Gates for the 23rd year in a row.

Symphony Technology founder Romesh Wadhwani, co-founder of outsourcing firm Syntel Bharat Neerja Desai, airline veteran Rakesh Gangwal, entrepreneur John Kapoor and Silicon Valley angel investor Kavitark Ram Shriram feature in Forbes’ ‘The Richest People In America 2016’ list.

The list is topped by 60-year-old Gates who has a net worth of $81 billion.

Gates keeps pushing to save lives in the developing world through efforts to eliminate polio, attack malaria and expand childhood vaccinations as head of the world’s largest private charitable foundation the Bill & Melinda Gates Foundation, Forbes said.

Wadhwani, 69, is ranked 222nd on the list with a net worth of $3 billion.

The IIT Mumbai and Carnegie Mellon alumnus is the Chairman and CEO of Symphony Technology Group, an empire of 17 data, technology, healthcare and analytics companies that together take in more than $2.8 billion in annual revenue, Forbes said.

Last year, Wadhwani announced that he planned to commit up to $1 billion to fund entrepreneurship initiatives in India.

Desai ranked 274th on the list with a net worth of $2.5 billion.

His company Syntel generates over $950 million in revenue and has nearly 24,000 employees across the globe, Forbes said.

Gangwal ranked 321st on the list with a net worth of $2.2 billion.

The 63-year-old IIT alumnus is an airline veteran who made his fortune from InterGlobe Aviation, the parent company of his budget airline IndiGo, India’s largest by market share. Gangwal co-founded IndiGo, headquartered outside Delhi in 2006 with one aircraft.

Kapoor ranked 335th on the list and has a net worth of $2.1 billion. The 73-year old is the Chairman of two drug outfits — Akorn, which specialises in “difficult-to-manufacture” prescription drugs and Insys Therapeutics, which produces an opioid for cancer patients.

Shriram ranked 361st on the list and has a net worth of $1.9 billion.

An early Google backer, Shriram, 59, has sold of most of his stock but remains on the board of its parent company, Alphabet, Forbes said. Since 2000, Shriram has been investing in young technology start-ups through his firm, Sherpalo Ventures.

His portfolio includes Paperless Post, an online card and invitation service; Optimizely, which provides web and mobile app testing; and Inmobi, a mobile advertising company.

Published on October 09, 2016
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