Categories
Latest News USA

Seven Indian-Americans in Forbes’ list of richest people in US

By The SATimes News Service

Washington, DC: Seven Indian-Americans have figured in Forbes‘ list of richest Americans, topped by Amazon founder Jeff Bezos for the third year in a row.

The 2020 Forbes list of 400 Richest People in America has been topped by Bezos, 56 who has a net worth of $179 billion and has occupied the spot of the richest person in the US for the third year in a row.

Bill & Melinda Gates Foundation Cofounder Bill Gates is ranked second on the list with a net worth of $111 billion.

The richest people in the US saw their wealth swell despite the coronavirus pandemic’s devastated impact on the economy.

“Pandemic be damned: America’s 400 richest are worth a record $3.2 trillion, up $240 billion from a year ago, aided by a stock market that has defied the virus…Even in these trying times mega-fortunes are still being minted,” Forbes said.

The list has seven Indian-Americans – cybersecurity firm ZScaler CEO Jay Chaudhry, Founder and Chairman of Symphony Technology Group Romesh Wadhwani, cofounder and CEO of online home goods retailer Wayfair Niraj Shah, Silicon Valley venture capital firm Khosla Ventures founder Vinod Khosla, Managing Partner of Sherpalo Ventures Kavitark Ram Shriram, Airline veteran Rakesh Gangwal and Workday CEO and Cofounder Aneel Bhusri.

Chaudhry, 61 is ranked 85th on the list with a net worth of $6.9 billion. He founded ZScaler in 2008 and the company went public in March 2018.

Forbes said in 1996, Chaudhry and his wife, Jyoti, both quit their jobs and put their life savings to start cybersecurity firm SecureIT, his first startup.

Wadhwani, 73 has been ranked 238th on the list and has a net worth of $3.4 billion.

On the 299th spot is Shah, 46, who has a net worth of $ 2.8 billion. Shah started the business in 2002 with Steve Conine, who is also a billionaire.

Wayfair, which now offers more than 18 million products, generated $9.1 billion in net revenue in 2019, up 35 per cent from the previous year, Forbes said.

Khosla, 65 is ranked 353rd with a net worth of $ 2.4 billion. 

On the 359th spot is Shriram, 63, who has a net worth of $ 2.3 billion. 

Gangwal, 67 is ranked 359th on the list and has a net worth of $ 2.3 billion.

On the 359th spot is Bhusri with a net worth of $ 2.3 billion.

Read More
Categories
New York

Shriram, Tandon honored with Ellis Island Medal

New York: Two eminent Indian Americans, Chandrika Tandon and Ram Shriram are recipients of the 2020 Ellis Island Medal of Honor.

Chandrika Tandon is a business leader, Grammy-nominated artist and humanitarian. A graduate of the Madras Christian College and the Indian Institute of Management, Tandon is chairperson of Tandon Capital Associates and on the board of the Lincoln Center for the Performing Arts. She is also chair of the NYU’s Tandon School of Engineering, renamed after she donated $100 Million to it.

Shriram is a billionaire businessman. He is a founding board member and one of the first investors in Google. He earlier worked Amazon – joining  in 1998, when Amazon acquired Junglee, an online comparison-shopping firm of which Shriram was president. Chennai native Shriram is graduate of the University of Madras.

The 90+ Ellis Island honorees will be recognized at a formal gala, postponed for later this year due to the COVID-19 pandemic.

The Ellis Island Medals are presented annually to American citizens, both native-born or naturalized, those who have made it their mission to share their wealth of knowledge, indomitable courage, boundless compassion, unique talents and selfless generosity with those less fortunate.

Read More