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IIT-Bombay alumnus in Forbes’ 400 richest list


Two Indian Institute of Technology alumni, from IIT Bombay and IIT-Delhi, have made it to Forbes’ list of the 400 richest Americans, topped for the 18th year in a row by Bill Gates with Warren Buffett in the second position.

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The US business magazine has placed Bharat Desai, with $1.35 billion, at 329 with Vinod Khosla two notches below at 331st place with $1.3 billion. Kenya born Syntel co-founder Desai, 58, an IIT-Bombay graduate founded the outsourcing outfit in 1980, took the company public in 1997 and now has some 16,200 employees. Shares have jumped 20 per cent over the past year."

Fellow IITian Vinod Khosla, 56, according to Forbes “is the rare Silicon Valley venture capitalist able to generate profits from a clean tech portfolio.” billion – the largest dollar amount loss by anyone on the Forbes 400 this year, to $39 billion, the magazine said. He was the only person among the top 20 on Forbes’ list to see his fortune shrink from a year ago.

Oracle CEO Larry Ellison rounds out the top three richest Americans with a net worth of $33 billion, $6 billion more than last year. Facebook founder Mark Zuckerberg was the biggest dollar gainer, with a net worth of $17.5 billion that put him at number 14. Forbes said the combined wealth of the 400 people, including 42 women, on this year’s list is $1.5 trillion, with an average net worth of $3.8 billion, up 12 percent from last year.

Source: Sep 23, 2011, Mumbai Mirror