BUSINESS
He is an IIT alumnus who began his airline career with United Airlines in 1984 and later built India’s largest airline.
Indians are leading several big companies across the world such as Sundar Pichai at Google and Microsoft CEO Satya Nadella. Many of them also built their own companies and later became billionaires. In this article, we will tell you about one such Indian billionaire who built India’s largest airline and is now set to lead a US firm as chairman. His name is Rakesh Gangwal, co-founder of IndiGo, a Rs 152000 crore market cap company.
Gangwal has been appointed as the chairman of American carrier Southwest Airlines. The 71-year-old joined the board of Southwest in July this year and had also acquired 36 lakh shares worth USD 108 million (around Rs 906 crore) of the airline recently.
He is an IIT alumnus who began his airline career with United Airlines in 1984 and later built India’s largest airline, IndiGo. He holds a B.Tech degree in Mechanical Engineering from IIT Kanpur (1975). Gangwal also earned an MBA degree from the Wharton School of the University of Pennsylvania. In April 2022, Gangwal announced donating Rs 100 crore to IIT Kanpur for setting up the School of Medical Sciences and Technology on the campus. According to Forbes, he has a real-time net worth of Rs 46255 crore.
An aviation industry veteran, Gangwal has also served as President, Chief Executive Officer (CEO) and Chief Operating Officer (COO) of the US Airways Group. Among other roles, he was also the Chairman, President and CEO of Worldspan Technologies.
He had a bitter fallout with co-founder Rahul Bhatia and the differences came out in the open in 2019. Gangwal, in February 2022, resigned from the board of directors of InterGlobe Aviation, parent of IndiGo, saying he would gradually reduce his equity stake in the airline over the next five years.
In August 2024, Gangwal and his family trust sold a total of 5.83 per cent stake in the carrier for about Rs 10,500 crore. After the share sale, Gangwal's stake in InterGlobe Aviation came down to 5.31 per cent from 5.89 per cent while that of Chinkerpoo Family Trust reduced to 8.24 per cent from 13.49 per cent.
(With inputs from PTI)
Shloka Mehta looks stunning in white floral kurta as she clicked with Akash Ambani, it costs Rs....
Who is Sagar Adani, Gautam Adani's nephew, accused of bribery, fraud charges in US?
IND vs AUS: Jasprit Bumrah, Pat Cummins eye historic captaincy milestone in Perth Test
PayPal down: Several users face issue while logging into accounts, say 'no one could...'
BGT 2024, Ind vs Aus: Can Shubhman Gill be the new Cheteshwar Pujara? Is he really ready?
The Ultimate Guide to Luxury Gifting: Discover Heirloom Pashmina by Pashmina.com
Effortless Relocations: The Perks Of Professional Removalists In Melbourne
Watch: Pakistan fan with 'Imran Khan' poster asked to leave Hobart stadium in Australia
International Criminal Court issues arrest warrant against Israeli PM Benjamin Netanyahu for...
What is demisexuality? Everything you need to know about this lesser-known sexual orientation
WATCH: World’s shortest woman meets world’s tallest woman, video goes viral
IND vs AUS 1st Test: Predicted playing XIs, Perth weather forecast and pitch report
IND vs AUS: When will Rohit Sharma join India squad? Check latest update
'Scam 2024': Diljit Dosanjh lookalike pranks people on Pune streets, video goes viral
Delhi Air Pollution: Centre announces staggered work timings for govt employees; check details
Mukesh Ambani's Reliance Jio loses nearly 80 lakh subscribers in just 30 days, BSNL adds...
IND vs AUS, 1st Test Dream11 prediction: Fantasy cricket tips for India vs Australia match
This country has most expensive passport in world, not US, UK, UAE, it costs Rs...
Amid rising air pollution, Delhi-NCR's crematorium records cleanest air; check AQI here
Revolutionising Medical Imaging: Venudhar Rao Hajari’s impact on healthcare technology
Abhishek Gupta and Onevision Media: Scaling brands on social media
Video shows Korean girl eating jalebi for first time, her reaction to Indian sweet goes viral
Cristiano Ronaldo confirms THIS YouTube star as his next guest, says, 'Will break Internet'
Delhi Assembly Elections: AAP releases first list of 11 candidates for 2025 polls
Adani Group's FIRST REACTION after US indicts Gautam Adani in alleged bribery case
Instagram introduces new feature, know how to reset app's algorithm, change your feed
Oppo Find X8 and X8 Pro launched in India, check specifications, price, other details
Charges against Gautam Adani: BJP's scathing attack on Congress, questions timing of development
Jasprit Bumrah's BIG statement on taking up Perth test captaincy, says, 'tactically better...'
Blackout on breaks: Company imposes no-sick-leave policy until 2025
Drug-laden terrorists on India's western, northern frontiers
Mohammad Shami trolls Sanjay Manjrekar over IPL auction bid prediction, says, 'Baba ki...'
IND vs AUS Test: When and where to watch 1st match of Border-Gavaskar trophy, know details here
CAQM amends Grap Stages III, IV, enforces stricter measures in Delhi-NCR amid air pollution woes
Malayalam actor Meghanathan passes away at 60 after suffering from...
Adani Green Energy's FIRST reaction after US indicts Gautam Adani in alleged bribery case
'Keep me out of...': Pakistani Instagram star Mathira on MMS leak controversy
Delhi Air Pollution: AQI marginally improves from 'severe' to 'very poor' category
'I love him, he loves me! Why hurt...': Rekha's bold confession about Amitabh Bachchan goes viral
Meet man, IITian who built Rs 5493 crore firm, has this Mukesh Ambani connection, he is from...
Shillong Teer Results TODAY November 21, 2024 Live Updates: Check winning numbers here
‘I didn’t have time to…’: When AR Rahman revealed having ‘agreement’ before marriage to Saira Banu
Viral video: Woman's sizzling belly dance to 'Namak' impresses internet, watch
Hardik Pandya banned, Mumbai Indians captain to miss first match of IPL 2025 due to...
Meet man who studied at IIM, IIT, then built Rs 1160000000 company, got inspired by…
Meet woman, who quit as dentist for UPSC exam, became IAS officer with AIR...
Viral video: Little girl steals hearts with her adorable dance to 'o meri cutie', watch
Gautam Adani's company signs another pact to acquire 100% stake in...
CBSE Date Sheet 2025 announced: Class 10, 12 board exams to begin from...
Apollena: Aditi Sharma on how space-based drama encourage young girls, says 'no matter how many...'
Is Mia Khalifa dating ex-Man City star Julian Alvarez? Former adult star says 'It certainly...'
IPL 2025 auction RTM rule: How this year’s right-to-match card is different from previous seasons
'Virat Kohli is trying to...': Shoaib Akhtar makes BIG statement on Champions Trophy 2025
Maharashtra Election 2024: Mukesh Ambani and family cast their votes in Mumbai
Centre revises performance-linked incentive scheme for THESE employees; check details
Manipur violence: Prohibitory orders to be relaxed in Imphal Valley for 7 hours