IndiGo cofounder Rakesh Gangwal, the richest Indian American, is ranked 225th in the nation.
A record seven Indian American billionaires are on the latest “Forbes 400” list of wealthiest Americans, up from five last year.
The Indian American list is led by airline executive and founder of the India-based IndiGo Rakesh Gangwal, who has a net worth of $3.8 billion. The 66-year-old Florida resident is 207th on the list. Last year, he was ranked 354, owing to fluctuations in the budget airline’s stocks.
Gangwal is followed by Jay Chaudhry, founder of the cybersecurity software firm ZScaler. He has a net worth of $3.6, making him the 225th richest American.
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Chaudhry is a new entrant on the list. ZScaler, which was founded in 2008, went public last year. He has 46 percent stake in the company, according Forbes.
Silicon Valley tech entrepreneur Romesh T. Wadhwani, with a net worth of $3.3 billion, is ranked 261, up from 271 last year.
Gangwal, Chaudhry and Wadhwani are richer than President Donald Trump, who is the 275th richest American, with a net worth of $3.1 billion.
Three Indian Americans are ranked 370 on the list, with a net worth of $2.2 billion. They are Aneel Bhusri, co-founder of the business software company Workday; investor and youngest Indian American billionaire Brian Shet; and Google investor Kavitark Ram Shriram.
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Silicon Valley venture capitalist Vinod Khosla, who is worth $2.1 billion, is the seventh Indian American billionaire on the list. He is ranked 388.
One Indian American to fall off the list is Niraj Shah, founder of Wayfair, which came under criticism for its association with migrant detention camps. His current net worth, according to Forbes, is $1.6 billion.
The richest South Asian American is Shahid Khan, a Pakistan American, who has a net worth of $7.8 billion. The 69-year-old is the owner of NFL’s Jacksonville Jaguars. Forbes released the annual list on Wednesday.
Here is the full list of Indian Americans on Forbes 400:
|Rakesh Gangwal||$3.8 billion||66||Florida||airline|
|225||Jay Chaudhry||$3.6 billion||60||California||Security software|
|261||Romesh T. Wadhwani||$3.3 billion||72||California||Software|
|370||Aneel Bhusri||$2.2 billion||53||California||Business software|
|370||Brian Sheth||$2.2 billion||43||Texas||Investments|
|370||Kavitark Ram Shriram||$2.2 billion||62||California||Venture capital|
|388||Vinod Khosla||$2.1 billion||64||California||Venture Capital|