IndiGo Airlines’s Rakesh Gangwal is the newest Indian American among the “Forbes 400 Richest Americans,” according to the magazine’s list released Oct. 4.
Rakesh Gangwal, who debuts on The Forbes 400 with an estimated $2.2 billion net worth, was born in India and got his M.B.A. at Wharton in the 1970s.
Airline veteran Rakesh Gangwal made his fortune from InterGlobe Aviation, the parent company of his budget airline IndiGo, India’s largest by market share.
The India born mechanical engineer studied at the Indian Institute of Technology Kanpur before getting his M.B.A. at Wharton.
He started his airline career with United Airlines in 1984 in strategic planning, then worked briefly for Air France.
He cofounded IndiGo near Delhi with one aircraft a decade ago. Now it’s India’s largest budget airline by market share.
Gangwal is ranked #321 on the overall Forbes List and number #10 in the Forbes 400 – Newcomers list and #36 on the Forbes 400 – Immigrants list.