WALTHAM, MA—The number of Indian-Americans billionaires is on the steady rise and this year Forbes’ list of billionaires include a self-made Indian-American woman: Jayshree Ullal, a technology entrepreneur with a net worth of $1.3 billion.
Other Indian-American billionaires in the Forbes’ 2018 List of Billionaires released earlier this month includes: Rakesh Gangwal, Romesh Wadhwani, Vinod Khosla, Kavitark Ram Shriram, Brian Sheth, John Kapoor, Aneel Bhusri, Niraj Shah, Jayshree Ullal and Bharat Desai.
Ullal, CEO of Arista Networks, a computer networking firm, is the first Indian-American women to be on the Forbes’ billionaire list.
“Born in London and raised in India, she is now one of America’s wealthiest female executives,” Forbes said. The company went public in June 2014 and reported $1.1 billion in revenues in 2016.
“Ullal owns some 5% of Arista’s stock, some of which is earmarked for her two children, niece and nephew,” according to Forbes.
A record 2,208 billionaires made Forbes’ 32 annual ranking of the world’s billionaires.
“Altogether they are worth a record $9.1 trillion, up 18% from a year ago. The 20 richest people on the planet are worth a staggering $1.2 trillion, a sum roughly equivalent to the annual economic output of Mexico. In aggregate, they may represent less than 1% of total billionaires but their riches amount to 13% of the total fortune of all billionaires worldwide,” said Forbes.
Americans lead the way with a record 585 billionaires, followed by mainland China with 373, according to Forbes.
“Centi-billionaire Jeff Bezos secures the list’s top spot for the first time, becoming the only person to appear in the Forbes ranks with a 12-figure fortune,” said Forbes. “Bezos’s fortune leapt more than $39 billion, the list’s biggest one-year gain ever. He moves ahead of Bill Gates, who is now number 2. It is the biggest gap between no. 1 and 2 since 2001.”
Here is the list of Indian-American billionaires:
Rakesh Gangwal
Co-founder: IndiGo
Net Worth: $3.3 Billion
Romesh T. Wadhwani
Founder & CEO: Symphony Technology Group
Net Worth: $3.1 Billion
Vinod Khosla
Founder: Khosla Ventures
Net Worth: $2.3 Billion
Kavitark Ram Shriram
Founder: Sherpalo
Net Worth: $2.1 Billion
Brian Niranjan Sheth
Co-founder & President: Vista Equity Partners
Net worth: $2 Billion
John Kapoor
Founder: Insys Therapeutics
Net Worth: $1.8 Billion
Aneel Bhusri
Co-founder & CEO: Workday Inc.
Net Worth: $1.8 Billion
Niraj Shah
Co-founder & CEO: Wayfair
Net Worth: $1.6 Billion
Jayshree Ullal
President and CEO: Arista Networks
Net Worth: 1.4 Billion
Bharat Desai
Founder: Syntel
Net Worth: $ 1.2 Billion.
