Rakesh Gangwal Net Worth, Early & Personal Life, Education, Career, Achievements

The largest airline in India, IndiGo, is co-founded by Rakesh Gangwal, who is hoping to generate up to $4.8 billion by selling his shares. Rakesh Gangwal is a successful businessperson who has a current $ 4.9 billion net worth.

Rakesh Gangwal Net Worth

Indian-American millionaire and co-founder of IndiGo, Rakesh Gangwal, previously served as the chief executive officer of US Airways Group and has a noteworthy 25.2% share in the airline.

Born on July 25, 1952, Gangwal’s distinguished career includes leadership positions at Boeing, Air France, and Worldspan Technologies following his completion of engineering studies at IIT Kanpur and the Wharton School MBA program.

Strategic entrepreneur Gangwal has donated ₹100 crore to IIT Kanpur as part of his charitable endeavors. Living in Miami, he leaves his mark on his business-savvy daughter Parul.

How did Rakesh become a Billionaire?

He decided to sell his interests over the ensuing years and resigned from the company’s board in February 2022 after getting into a fight with his buddy and co-founder, Rahul.

His family sold a 2.8% share in September 2022 for Rs 2,000 crore, then a 4% interest for Rs 2,900 crore in February 2023. The family still owns 29.72% of the business. When Gangwal departed the board, he declared the family would progressively lose interest.

The Gangwals plan to offer 15.6 million shares at a starting price of Rs 2,400 per share, which represents a 5.8% reduction from Monday’s closing price, according to the resource. As of June 30, 2023, the Gangwal family held 29.72% of IndiGo Airlines, while marketers held a total of 67.76%.

By 2023, Rakesh Gangwal will be worth $4.7 billion, as reported by Forbes. They purchased a $30 million estate in Miami, Florida, which billionaire Charles Johnson once owned. His projected net worth is $4.8 million in 2024.

Rakesh Gangwal’s Early, Person Life & Education

Rakesh, an Indian-American billionaire businessperson, was born on July 25, 1952. He owns 25.2% of IndiGo Airlines and is one of its co-founders. He was the US Airways Group’s previous chairman and chief executive officer.

He is a married person and has a daughter called Parul. Before founding Wheelhouse Capital in June 2021, Parul was employed by Salesforce. Miami, Florida is the Gangwal family’s home.

Gangwal served as chairman and CEO of Worldspan Technologies, a company that offers information services and travel technology to the travel and transport sector, from June 2003 to August 2007.

Gangwal engaged in several personal business ventures between 2002 and 2003, such as consulting and private equity businesses. From 1998 till his departure in 2001, he served as US Airways Group’s president and chief executive officer.

He studied Don Bosco Park Circus before obtaining his bachelor’s degree in Mechanical Engineering at the Indian Institute of Technology Kanpur in 1975 and an MBA from the University of Pennsylvania’s Wharton School.

Rakesh Gangwal’s Career

Gangwal immigrated to the US in 1977 after earning his bachelor’s degree from IIT Kanpur at the young age of 23. His involvement in the airline business started in September 1980 when he collaborated extensively with United Airlines while employed by Booz Allen & Hamilton, Inc.

Gangwal became a manager of strategic planning at United Airlines in 1984. Gangwal has worked as a manufacturing engineer and financial analyst, among other roles.

He has also held positions on many boards, such as those at IIT-Kanpur and the University of Colorado. He gave ₹100 crore in 2022 to build a medical science and technology school.

Rakesh Gangwal’s Awards and Achievements

Rakesh Gangwal has won various honors and recognitions for his services to the business community. In 2020, Forbes 400 listed him as the 359th richest person in America.

Gangwal was also honored for his charitable work when, in April 2022, he donated ₹100 crore to establish an institution of medical sciences and technology at IIT-Kanpur.

Gangwal’s legacy is rooted in his enormous services to the aviation sector, especially as a co-founder of IndiGo Airlines and his executive roles at other prominent businesses.