Five Indian-Americans Feature Among The Richest In US : Forbes

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According to an Indian Express news report, Microsoft’s co-founder Bill Gates is the richest man in the USA in the Forbes list of ‘The Richest People in America 2016’. This top rank for him is for the 23rd year in a row.  In the same list names of five Indian-Americans also feature as among the richest in the US.

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The names of the Indian Americans who feature in the list are Romesh Wadhwani who is the founder of Symphony Technology, Rakesh Gangwal who is from the Airlines sector, John Kapoor noted entrepreneur, Kavitark Ram Shriram who is known for his angel investing in the Silicon Valley and Bharat Desai who is the co-founder of Syntel.

Billionaire Bill Gates who has topped this list for the 23rd consecutive year according to reports has an estimated net worth of 81 billion dollars. Gates who is 60 along with his wife Melinda has been very active in a lot of social endeavours. They through their private charitable foundation Bill & Melinda Gates Foundation has taken a lot of initiatives like polio elimination drives in developing countries, combating Malaria and raising awareness about childhood vaccinations. Their foundation is the largest charitable private foundation in the world.

Meanwhile, Indian-American Romesh Wadhwani who has the net worth of 3 billion dollars have been ranked 222nd in the Forbes list above. According to Forbes Wadhwani, who an alumnus of the prestigious IIT Mumbai and Carnegie Mellon, in his Symphony Technology group has 17 data, technology, healthcare and analytics companies that produce a total annual revenue of $2.8 billion

In a move to help entrepreneurs in India, he committed up to $1 billion to encourage entrepreneurship initiatives in India. Bharat Desai ranks 274th in the list. He has a net worth of a whopping $ 2.5 billion dollars. According to Forbes Desai’s company Syntel, which was founded in 1980, creates enormous revenue of $950 million. This company has also given employment to around 24,000 people around the world.

Next, comes Rakesh Gangwal. He is an IIT alumni and he is said to have acquired his huge wealth from InterGlobe Aviation. InterGlobe Aviation is the parent company of his very popular budget airline in India IndiGo. This company which was co-founded by him with just one aircraft in 2006 now enjoys the largest market share in this sector in India. Gangwal with a net worth of $2.2 billion is ranked 321 in the Forbes list of Richest Americans 2016. Mr Gangwal owns 40 percent stake in the company and is also a board member of the same.

John Kapoor who is ranked 355 in the Forbes list with a net worth of $ 2.1 billion owns two pharma companies-Akorn and Insys Therapeutics. Akorn manufactures “difficult-to-manufacture” prescription drugs. On the other hand, Insys Therapeutics produces an opioid for cancer patients.

Kavitark Ram Shriram ranks 361 in the Forbes list with $1.9 billion. According to Forbes Shriram was one of the people who supported Google at the initial stage. However, this person has sold off most of the stocks of this company which he initially backed. However, this billionaire still hasn’t lost his position as a board member of the parent company of Google –Alphabet. Since a long time Shriram through his firm, Sherpalo Ventures has also been actively investing in startups.

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