Hailing from Punjab’s Jalandhar, Ajaypal Singh Banga is one of the richest Indian business executives across the world currently. To be precise, he is the fourth richest with a net worth pegged at Rs 6,500 crore by the most recent IIFL Hurun Richest People in India list. Banga is also the richest Indian residing in the economic megahub of New York city. He is richer than the likes of Google’s Sundar Pichai and Microsoft’s Satya Nadella.
Banga was appointed the President of the World Bank earlier this year. The 63-year-old, an alumnus of the prestigious Indian Institute of Management (IIM), has been associated with the likes of Citigroup, Mastercard, Nestle and General Atlantic in a long and successful career.
Banga is the son of veteran Indian Army lieutenant general Harbhajan Banga. Ajay received early education from Hyderabad Public School before joining the famous St Stephen's College of Delhi University for graduation in economics. He then went to the Indian Institute of Management, Ahmedabad. In 2016, he received the civil honour Padma Shri from the Indian government.
In 2021, Banga reportedly owned Mastercard stocks valued at $113,123,489. Banga was making around $23,250,000 annually at Mastercard, reportedly pegged at over Rs 192 crore in Indian rupees. As World Bank President, he is reportedly receiving a salary of Rs 28 crore.
