Over Dozen People of Indian-Origin Make to Forbes 30 Under 30 List of 600 Change-Makers in Various Areas

Jan 4, 2017 0

WALTHAM, MA—Sixteen people South Asian-origin have made to the Forbes 30 Under 30 list of 600 change-makers in various areas, including business, finance, society, art, science and technology, among others. Of all the South Asians, 87.5 percent are of Indian origin, according to Forbes magazine. The list of South Asian and their bios is provided below courtesy of Forbes.

“The 2017 FORBES 30 Under 30 is the most definitive gathering of today’s leading young change-makers and innovators in the U.S,” said Forbes article announcing the exclusive list. “We bring you 30 game changers in 20 industries all under 30 years old — 600 in total — who are challenging the conventional wisdom and rewriting the rules for the next generation of entrepreneurs, entertainers, educators and more. They are passionate and formidable bunch, and for good reason. Their goal is nothing short of breaking the status quo and transforming the world.”

This year’s list of 600 is packed with boldfaced names, such as actress Margot Robbie, five time Pro Bowler Von Miller, singer Gallant, Pulitzer Prize-winning journalist Wesley Lowery, vegan chef and “Cupcake Wars” winner Chloe Coscarelli, and social media personalities Kylie Jenner and Tyler Oakley, according to Forbes.

There are 20 categories with 30 honorees. The categories are Art & Style, Consumer Tech, Education, Energy, Enterprise Tech, Finance, Food & Drink, Games, Healthcare, Hollywood & Entertainment, Law & Policy, Manufacturing & Industry, Marketing & Advertising, Media, Music, Retail & E-commerce, Science, Social Entrepreneurs, Sports and Venture Capital. Forbes received 15,000+ nominations for just 600 spots.

30 Under 30 2017 By The Numbers as listed by Forbes:

  • 50%+ are founders or cofounders;
  • 57% started their business to solve a problem;
  • 27% want their business to change the world;
  • 75% live or work on the two coasts: 39% on the West Coast; 36% on the East Coast;
  • 1:6 are immigrants from 44 countries;
  • 5 most attended universities: Harvard University, MIT, New York University, Stanford University, University of Pennsylvania;
  • 1 dream mentor (by far): Elon Musk. Others most preferred include Bill Gates, Barack Obama, Sheryl Sandberg;
  • Nearly half (49%) describe millennials as Innovators. Other most-used definitions: Idealists (23%); Influencers (18%); Inventors (10%);
  • Nearly half (48%) describe success as achieving your potential, or liking yourself and what you do (also 48%).
  • Only 4% pursue success for fame and fortune;
  • 35% believe Grit is the most important trait for entrepreneurs; followed by Passion (21%).

Here is the list of South Asians included in the 2017 Forbes 30 Under 30:

Anish Abuwala

Portfolio Manager, Caxton Associates LP

Finance

Set to manage his own portfolio focusing on emerging markets as part of a global strategy emphasizing currencies, fixed income and equities at $8 billion hedge fund. Has been supporting Joshua Berkowitz in managing a $1.5 billion cross-asset portfolio at Caxton Associates.

Raja Bobbili

Analyst, Abrams Capital

Finance

At over $8 billion hedge fund Abrams Capital, Bobbili works with four other investment staff to manage one of Wall Street’s most concentrated and successful portfolios. His specialty is in financials, communications and retail.

Nishant Garg

Jimit Shah

Cofounders, Flow Labs

Energy

Flow Labs has devised a small wireless-enabled sensor that attaches to water pipes and measures the amount of water flowing through them — ideal for homes and businesses looking for ways to save water and save money.

Anurag Garg

CEO, Dattus

Manufacturing & Industry

Garg is cofounder and CEO of Dattus, an industrial Internet of things company that transforms old manufacturing facilities into smarter factories.The company has raised $1.7 million in seed funding.

Akshay Goyal

Vice President, Starwood Capital

Finance

The youngest vice president in Starwood’s history when he was promoted at age 26, Goyal focuses on hotel acquisitions and has helped drive over $7 billion in deals. Recently helped sell a portfolio of 240 U.S. hotels to China Life for $2 billion.

Neha Gupta (Photo: Linkedin)

Neha Gupta

Business Operations, DAQRI

Manufacturing & Industry

Gupta helped launch The Honest Company and played a role in the sale of Beats by Dre to Apple. Now she manages manufacturing and supply chain for DAQRI, which makes augmented reality headsets to improve safety and efficiency for industrial workers.

Mohammad Islam

Senior Associate, DFJ

Venture Capital

Islam started his investing career in 2012 at In-Q-Tel, the venture arm of the CIA. He joined DFJ in 2014 and has worked with 10 portfolio companies at the firm. Islam previously gained his technical chops as an engineer at Lockheed Martin.

Karan Jani

PhD Candidate, Georgia Institute of Technology

Science

Jani is involved in the gravitational wave experiment at LIGO Lab and part of the team that detected the first gravitational waves. For his work, he was a co-recipient of the Special Breakthrough Prize in Fundamental Physics.

Mansi Jayakumar

Global Director of Innovation, Y&R

Marketing & Advertising

A self-described “tech junkie,” Jayakumar heads Y&R’s global innovation initiatives across more than 190 offices, including creating Spark Plug, a global innovation incubator program and including projects with Samsung and Dell.

Akshay Khanna

Vice President of Strategy, Philadelphia 76ers

Sports

Khanna has led the acquisition and merger of two eSports teams for the Sixers, manages the team’s entrepreneur innovation lab, developed a StubHub-partnered ticketing platform for Sixers games, and negotiated an estimated $25 million jersey sponsorship deal with StubHub.

Vivek Kopparthi

Cofounder, NeoLight

Healthcare

Worldwide, jaundice is responsible for 50% of hospital readmissions for newborns and 10 infant deaths per hour. The treatment: exposure to light from a special flourescent bulb. But that usually happens in the hospital. NeoLight has developed a phototherapy device that is portable for use at home. The company is also working on a second tool to treat infant hypothermia.

Saswat Panda

Cofounder, LiveLike VR

Consumer Technology

The opportunity for sports to be shown in virtual reality is massive and LiveLike VR wants to make fans sitting at home on the couch feel like they are at the big game. The company has raised $5 million from CAA Ventures, former NBA commissioner David Stern and the NFL.

Dhruv Maheshwari

Research Analyst, Point72 Asset Management

Finance

Part of new macro multi strategy team at billionaire Steve Cohen’s quantitative trading arm, cubist systematic strategies. Former vice president at Goldman Sachs Asset Management, where he was part of a $9 billion quantitative trading group.

Sudhakar Nuti

M.D. candidate, Yale University

Healthcare

Nuti studies variations in the quality of health care in the United States, and effort that has resulted in multiple publications in the Journal of the American Medical Association. One recent finding: despite the controversy over the quality of care provided by the U.S.Department of Veterans Affairs, there was no measurable difference in quality between the VA and other hospitals.

Aniq Rahman

President, Moat

Marketing & Advertising

President of Moat, a profitable SaaS analytics and intelligence company focused on digital advertising founded in 2010 with close to 225 employees. Rahman was previously CEO of Instinctiv, later sold to SoundCloud. He is also a partner at Vast Ventures, and the funds collectively have more than 75 investments around the world, including Hyperloop One, Diamond Foundry, Sweetgreen, Juicero, ZocDoc and Gingko Bioworks.

Arun Sharma

Postdoctoral Fellow, Harvard Medical School

Science

Sharma worked as an investigator for a grant funded by the Center for the Advancement of Science in Space. This year, the research project, “Effects of Microgravity on Stem Cell-Derived Heart Cells from Diverse Patient Populations” was shot up into space aboard the SpaceX Dragon and received by the International Space Station. Now with Harvard, Sharma uses induced pluripotent stem cells to study cardiovascular biology.

Anarghya Vardhana

Senior Associate, Maveron

Venture Capital

Vardhana joined Maveron in November 2015 after spending a year at Rothenberg Ventures, where she launched a VR accelerator and sourced and made seed investments in a dozen startups in the VR/AR space. She began her career in 2010 at Google, working on AdWords Express internationalization and localization.

Ajay Yadav

Founder, Roomi

Consumer Technology

Looking for a new roommate? Yadav’s startup Roomi is an app that lets users find the right roommate to live with, chat with each other, search for listings, apply for an apartment and pay rent. New York-based Roomi has raised $7 million to date.

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25 Highest Paid Indian-American Chief Financial Officers; Two Women Make to the Top List

Dec 4, 2016 0

BOSTON— Akhil Johri, Chief Financial Officer and Executive Vice President of United Technologies Corp., topped the list of 25 highest paid Indian-American Chief Financial Officers of public companies in the United States, according to a report released by the IndUS Business Journal.

“It is exciting to see that at least two women have made to this exclusive list,” said Upendra Mishra, publisher of the IndUS Business Journal. “This list includes companies in all areas and its shows the diversity of businesses where Indian-Americans hold top leadership positions.”

The two women in the list are: Meera Rao, Chief Financial Officer of Monolithic Power Systems, who made $2.58 million; and Shalini Sharp, Chief Financial Officer of Ultragenyx Pharmaceutical, who made $2.38 million.

The list is based on the total compensation in 2015, including base salary, bonus, incentives and stock award value. The report is compiled based on public documents filed with the Securities and Exchange Commission, public records and news reports.

Here is the list of highest paid Indian-Americans CFOs of publica companies ranked by total compensation in 2015:

Akhil Johri

Akhil Johri

Rank # 1

Name: Akhil Johri

Title: Chief Financial Officer and Executive Vice President

Company: UNITED TECHNOLOGIES CORP

Headquarters:  Hartford, CT

Total Compensation: $12.37 million

Rank # 2

Name: Krishna Shivram

Title: Chief Financial Officer and Executive Vice President

Company: WEATHERFORD INTL PLC

Headquarters:  Houston, TX

Total Compensation: $4.92 million

Rank # 3

Name: Vikas Sinha

Title: Executive Vice President and Chief Financial Officer

Company: ALEXION PHARMACEUTICALS INC

Headquarters:  Cheshire, CT

Total Compensation: $4.74 million

Rank # 4

Name: Bedi Ajay Singh

Title: Chief Financial Officers

Company: NEWS CORP

Headquarters: New York, NY

Total Compensation: $4.51 million

Rank # 5

Name: Rajesh Kalathur

Title: Senior Vice President and CFO

Company: DEERE & CO

Headquarters: Moline, IL

Total Compensation: $4.35 million

Rank # 6

Name: Manmeet S. Soni

Title: Chief Financial Officer

Company: PHARMACYCLICS INC

Headquarters: Sunnyvale, CA

Total Compensation: $3.52 million

Rank # 7

Name: Rajesh K. Agrawal

Title: Chief Financial Officer

Company: WESTERN UNION CO

Headquarters:  Englewood, CO

Total Compensation: $2.63 million

Meera Rao (Photo: Linked in)

Meera Rao (Photo: Linked in)

Rank # 8

Name: Meera Rao

Title: Chief Financial Officer

Company: MONOLITHIC POWER SYSTEMS

Headquarters: San Jose, CA

Total Compensation: $2.58 million

Shalini Sharp (Photo: Linkedin)

Shalini Sharp (Photo: Linkedin)

Rank # 9

Name: Shalini Sharp

Title: Chief Financial Officer

Company: ULTRAGENYX PHARMACEUTICAL

Headquarters: Novato, CA

Total Compensation: $2.38 million

Rank # 10

Name: Amit Muni

Title: Chief Financial Officer

Company: WISDOMTREE INVESTMENTS

Headquarters:  New York, NY

Total Compensation: $2.37 million

Rank # 11

Name: Manik H. Jhangiani

Title: Senior Vice President and Chief Financial Officer

Company: COCA-COLA EUROPEAN PARTNERS US

Headquarters: Atlanta, GA

Total Compensation: $2.33 million

Rank # 12

Name: Arun Nayar

Title: Executive Vice President and Chief Financial Officer

Company: TYCO INTERNATIONAL PLC

Headquarters: Princeton, NJ

Total Compensation: $2.11 million

Rank # 13

Name: Harpreet S. Grewal

Title: Executive Vice President and CFO

Company: CONSTANT CONTACT INC

Headquarters: Waltham, MA

Total Compensation: $2.20 million

Rank # 14

Name: Ganesh Moorthy

Title: Chief Financial Officer

Company: MICROCHIP TECHNOLOGY INC

Headquarters: Chandler, AZ

Total Compensation: $1.97 million

Rank # 15

Name: Anurup Pruthi

Title: Chief Financial Officer

Company: CHILDRENS PLACE INC

Headquarters: Secaucus, NJ

Total Compensation: $1.94 million

Rank # 16

Name: Prashanth Mahendra-Rajah

Title: Chief Financial Officer

Company: WABCO HOLDINGS INC.

Headquarters: Piscataway, NJ

Total Compensation: $1.93 million

Rank # 17

Name: Satish Rishi

Title:  Chief Financial Officer

Company: RAMBUS INC

Headquarters: Sunnyvale, CA

Total Compensation: $1.85 million

Rank # 18

Name: Vaseem Mahboob

Title: Chief Financial Officer

Company: ENDOLOGIX INC

Headquarters: Irvine, Calif.

Total Compensation: $1.74 million

Rank # 19

Name: Arvind Dharia

Title: Chief Financial Officer

Company: MADDEN STEVEN LTD

Headquarters: Long Island, NY

Total Compensation: $1.52 million

Rank # 20

Name: Adeel Khan

Title: Chief Financial Officer

Company: Rexford Industrial Realty

Headquarters: Los Angeles, Calif.

Total Compensation: $1.51 million

Rank #21

Name: Ashish R. Parikh

Title: Chief Financial Officer

Company: HERSHA HOSPITALITY TRUST

Headquarters: Harrisburg, PA

Total Compensation: $1.5 million

Rank #22

Name: Ranjan Kalia

Title: Executive Vice President and Chief Financial Officer

Company: VIRTUSA CORP

Headquarters: Westborough, MA

Total Compensation: $1.43 million

Rank #23

Name: Rajeev Bhalla

Title: Executive Vice President and Chief Financial Officer

Company: CIRCOR International’s

Headquarters: Burlington, MA

Total Compensation: $1.42 million

Rank # 24

Name: Amit Singhi

Title: Senior Vice President and Chief Financial Officer

Company: FLIR Systems

Headquarters: Wilsonville, OR

Total Compensation: $1.36 million

Rank # 25

Name: Atish D. Shah

Title: Chief Financial Officer

Company: HYATT HOTELS CORP

Headquarters: Chicago, IL

Total Compensation: $1.27 million.

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5 Indian-Americans among America’s richest 400

Oct 10, 2016 0

New York– Five Indian-Americans figure among America’s 400 richest people, in a list again headed by Microsoft co-founder Bill Gates, according to the survey by Forbes magazine.

Symphony Technology founder Romesh Wadhwani, co-founders of outsourcing firm Syntel Bharat, Syntel’s Neerja Desai, airline veteran Rakesh Gangwal, entrepreneur John Kapoor and Silicon Valley angel investor Kavitark Ram Shriram figure in Forbes’ ‘The Richest People In America 2016’ list.

Romesh Wadhwani

Romesh Wadhwani

Gates tops the list for the 23rd year, now with a net worth of $81 billion.

Wadhwani has been ranked 222nd on the list with a net worth of $3 billion.

Educated at IIT-Mumbai, he is the chairman of Symphony Technology Group, an empire of 17 data, technology, healthcare and analytics companies that together earn more than $2.8 billion in annual revenue, Forbes said.

The Desais rank 274th on the list with a net worth of $2.5 billion. Started in 1980, their firm Syntel generates over $950 million in revenue and has nearly 24,000 employees across the globe, Forbes said.

Gangwal is ranked 321 on the list with a net worth of $2.2 billion. He is an aviation entrepreneur, who co-founded InterGlobe Aviation, which operates budget airline IndiGo, that is India’s largest by market share.

US resident Gangwal owns more than 40 per cent of the company and currently serves as a board member, Forbes said.

Kapoor, who ranks 335 on the list with a net worth of $2.1 billion, is the chairman of two drug companies – Akorn, which specializes in “difficult-to-manufacture” prescription drugs and Insys Therapeutics, which produces an opioid for cancer patients, Forbes added.

Shriram ranks 361 on the list with a net worth of $1.9 billion.

According to Forbes, Shriram, who was one of Google’s early backers, has sold of most of his stock but remains on the board of its parent company, Alphabet. Since 2000, he has been investing in young technology startups through his firm, Sherpalo Ventures.

Sriram’s portfolio includes online card and invitation service Paperless Post, web and mobile app testing service Optimizely, and mobile advertising company Inmobi.

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Indra Nooyi Second Most Powerful Women: Fortune

Sep 8, 2016 0

NEW YORK—PepsiCo Chairman and CEO Indra Nooyi is the second most powerful women after General Motors CEO and Chairman Mary Barra, according to Fortune Magazine.

Fortune recently released its annual list of 50 Most Powerful Women in 2016. Nooyi is the only Indian-origin women to make the list. She was ranked second on the list in 2015 as well.

Indra Nooyi-TwitterThe list comprises 22 CEOs of major companies and many more corner office contenders across industries. The 2016 list has nine newcomers, according to Fortune.

Nooyi is now in her 10th year as CEO and  she “shows no signs of slowing down,” Fortune said.

“Investors seem to have faith that Nooyi’s push towards healthier food and drink offerings will pay off, and they like the $63 billion company’s $3 billion cost cut over the past three years too,” Fortune said.

Barra retained the Fortune’s Most Powerful Woman title in 2016.

In addition to Barra and Nooyi, the Fortune’s  top 10 most powerful women in the list includes Marillyn Hewson of Lockheed Martin at the third place; Ginni Rometty of IBM (4th); Abigail Johnson of Fidelity Investments (5th); Facebook’s COO Sheryl Sandberg (6th); Meg Whitman of Hewlett Packard Enterprise (7th); General Dynamics’ Phebe Novakovic (8th); Irene Rosenfeld of Mondelez International (9th) and Safra Catz Co-CEO, Oracle at the 10th place.

Singing diva Beyonce was ranked at the 51st place as the bonus pick.

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25 Highest Paid Indian-American Executives List Released, Includes Two Women: Sona Chawla and Indra Nooyi

Aug 8, 2016 0

BOSTON— Sundar Pichai, Chief Executive Officer of Google, and General Growth Properties CEO Sandeep Mathrani are the two highest-paid Indian-American executives in the United States, earning a whopping $100.50 million and $39.25 million respectively, according to a report released by the IndUS Business Journal.

Indra Nooyi-Twitter

Indra Krishnamurthy Nooyi

“Two top-ranking women also grace the list of the highest-paid Indian-American executives,” said Upendra Mishra, publisher of the IndUS Business Journal. “We hope that the number of women-led businesses increases in the near future. However, it is still exciting to see that there are at least two women in this top list.”

The two women in the list are: PepsiCo CEO Indra Nooyi, who made $22.19 million, and Sona Chawla, Chief Operating Officer of Kohl’s Corp., who made $10.69 million.

The list is based on the total compensation in 2015, including base salary, bonus, incentives and stock award value. The report is compiled based on public documents filed with the Securities and Exchange Commission, public records and news reports.

Here is the list ranked by total compensation in 2015:

Rank: 1

Sundar Pichai

Sundar Pichai

Name: Sundar Pichai

Title: CEO

Company: Google

Headquarters: Mountainview, CA

Total compensation: $100.50

 

Rank: 2

Name: Sandeep Mathrani

Title: CEO

Company: General Growth Properties, Inc.

Headquarters: Chicago, IL

Total compensation: $39.25 million

 

Rank: 3

Name: Hari Ravichandran

Title: CEO

Company: Endurance International Group

Headquarters: Burlington, MA

Total compensation: $35.99 million

 

Rank: 4

Name: Bhavesh (Bob) Patel

Title: CEO

Company: LyondellBasell Industries

Headquarters: Houston, TX

Total compensation: $24.46 million

 

Rank: 5

Name: Indra Krishnamurthy Nooyi

Title:    Chairman and CEO

Company: PepsiCo

Headquarters: Purchase, NY

Total compensation: $22.19 million

 

Rank: 6

Name: Shantanu Narayen

Title:    CEO

Company: Adobe Systems

Headquarters: San Jose, CA

Total compensation: $18.36 million

 

Rank: 7

Name: Satya Nadela

Title:    CEO

Company: Microsoft Corp.

Headquarters: Redmond, WA

Total compensation: $18.29 million

 

Rank: 8

Name: Ajay Banga

Title: President and CEO

Company: MasterCard

Headquarters: Purchase, NY

Total compensation: $15.54 million

 

Rank: 9

Name: Pankaj Patel

Title: Executive Vice President

Company: Cisco Systems

Headquarters: San Jose, CA

Total compensation: $13.01 million

 

Rank: 10

Name: Varun Mehta

Title: Vice President of Engineering

Company: Nimble Storage, Inc.

Headquarters: San Jose, CA

Total compensation: $12.46 million

 

Rank: 11

Name: Akhil Johri

Title: Executive Vice President and Chief Financial Officer

Company: United Technologies Corp.

Headquarters: Hartford, CT

Total compensation: $12.37 million

 

Rank: 12

Name: Francisco D’Souza

Title: CEO

Company: Cognizant Technology Solutions

Headquarters: Teaneck, NJ

Total compensation: $11.95 million

 

Rank: 13

Name: Rajiv De Silva

Title: President and CEO

Company: Endo International Plc

Headquarters: Malvern, PA

Total compensation: $10.91 million

 

Rank: 14

Name: Sanjay Mehrotra

Title: President and CEO

Company: SanDisk Corp.

Headquarters: Milpitas, CA

Total compensation: $10.73 million

 

Sona Chawla

Sona Chawla

Rank: 15

Name: Sona Chawla

Title: Chief Operating Officer

Company: Kohl’s Corp.

Headquarters: Menomonee Falls, WI

Total compensation: $10.69

 

Rank: 16

Name: Ashish Bhutani

Title: CEO

Company: Lazard Asset Management

Headquarters: New York City, NY

Total compensation: $10.44 million

 

Rank: 17

Name: Dinesh C. Paliwal

Title: Chairman and CEO

Company: Harman International

Headquarters: Stamford, CT

Total compensation: $10.40 million

 

Rank: 18

Name: Dinesh C. Jain

Title: Chief Operating Officer

Company: Spectrum Management Holding Company

Headquarters: Daytona Beach, FL

Total compensation: $9.44 million

 

Rank: 19

Name: Abhijit Y. Talwalkar

Title: President and CEO

Company: LSI Corp.

Headquarters: San Jose, CA

Total compensation: $9.21 million

 

Rank: 20

Name: Sudhir Steven Singh

Title: CEO

Company: Concur Technologies, Inc.

Headquarters: Bellevue, WA

Total compensation: $7.28 million

 

Rank: 21

Name: Sunit S. Patel

Title: Executive Vice President

Company: Level 3 Communications, Inc.

Headquarters: Broomfield, CO

Total compensation: $7.78 million

 

Rank: 22

Name: Dharmesh Mehta

Title: Executive Vice President

Company: Weatherford International

Headquarters: Houston, TX

Total compensation: $7.69 million

 

Rank:  23

Name: Mohan R. Maheswaran

Title: CEO

Company: Semtech Corp.

Headquarters: Camarillo, CA

Total compensation: $7.67 million

 

Rank: 24

Name: Deepak Chopra

Title: President and CEO

Company: Osi Systems, Inc.

Headquarters: Hawthorne, CA

Total compensation: $7.50 million

 

Rank:  25

Name: Vijay C. Advani

Title: CEO

Company: Franklin Resources, Inc.

Headquarters: San Mateo, CA

Total compensation: $6.85 million

 

Rank:  25

Name: Suresh Vasudevan

Title: CEO

Company: Nimble Storage, Inc.

Headquarters: San Jose, CA

Total compensation: $6.85 million

 

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Four Indian-Americans named in Forbes list of top US wealth advisors

Aug 4, 2016 0

WALTHAM, MA–Four Indian-Americans have been named among the nation’s top wealth advisors by Forbes magazine.  The list of 200 advisors includes Raj Sharma, Ash Chopra, Sonny Kothari and Raju Pathak.

Raj Sharma-action“The 200 members of Forbes’ 2016 list of America’s Top Wealth Advisors collectively manage $675 billion, serving clients that range from Silicon Valley billionaires and Wall Street titans to small business owners and family fortunes,” Forbes magazine said.

Sharma and Chopra, both working in Merrill Lynch-Private Banking & Investment Group, have been ranked 17th and 129, respectively, on the Forbes 2016 list of top wealth advisors. Kothari of Merrill Lynch Wealth Management is ranked 176 and Pathak of Morgan Stanley Wealth Management has been ranked at 184 in the coveted list of wealth advisors.

“Though list members might seem to have a lot in common, there are plenty of differences too,” Forbes said. “Some advisors cater to smaller investors — or what one, Gerstein Fisher’s Gregg Fisher (#28), calls “regular people” — while others have hefty minimums of $10 million and up as their threshold for taking on new business.”

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India has 84 billionaires, Mukesh Ambani 34th in world in Forbes list

Mar 1, 2016 0

WASHINGTON (Wire Services)—India has 84 billionaires. Reliance Industries chairman Mukesh Ambani again topped 84 Indian billionaires in Forbes 2016 list of the world’s richest people once again headed by Bill Gates with a net worth of $75 billion.

Ambani with a net worth of $19.3 billion was ranked 36th among world’s 1,810 billionaires with an aggregate net worth of $6.48 trillion, down from $7.05 trillion last year.

Mukesh Ambani (Photo: Wikipedia)

Mukesh Ambani (Photo: Wikipedia)

Technology guru Gates, who has topped the list for 17 of the last 22 years was followed by Spanish clothing retailer Amancio Ortega, best known for the Zara fashion chain, with Warren Buffett remaining in the third spot.

The US led with the greatest number of billionaires, with 540, followed by China with 251, Germany with 120, India with 84 and Russia with 77.

China had the most of 198 newcomer billionaires, adding 70 to the list. Thirty-three newcomers were from the US, 8 from India and 28 from Germany.

Notable newcomers included Flipkart cofounders Sachin Bansal and Binny Bansal (No. 1476) of India.

India’s top ten: 1 (world ranking 36) Mukesh Ambani $19.3 bn; 2 (44) Dilip Shanghvi $16.7 bn; 3 (55) Azim Premji $15 bn; 4 (88) Shiv Nadar $11.1 bn; 5 (133) Cyrus Poonawalla $8.5 bn; 6 (135) Lakshmi Mittal $8.4 bn; 7 (184) Uday Kotak $6.3 bn; 8 (196) Kumar Birla $6.1 bn; 9 (219) Sunil Mittal $5.7 bn; 10 (233)Desh Bandhu Gupta $5.5 bn.

Telecom mogul Carlos Slim Helu (No. 4) dropped two spots, and his net worth decreased to $50 billion from $77.1 billion last year.

Amazon’s Jeff Bezos (No. 5) moved up to the fifth from the fifteenth spot last year; his net worth increased to $45.2 billion.

Facebook’s Mark Zuckerberg (No. 6) moved into the top 10 for the first time. He was the biggest gainer with his fortune going up by $11.2 billion for a total net worth of $44.6 billion. He is the sixth richest in the world. The biggest loser was Helu. (IANS)

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India 97th on Forbes best countries for business list

Dec 17, 2015 0

By Arun Kumar

WASHINGTON–India has been ranked 97th, three notches below China, in Forbes annual ranking of the best countries for business with Denmark topping the list for the sixth time in ten years.

European countries represent two-thirds of the top 25 with the US sliding four spots to No. 22, continuing a six-year descent since 2009 when the US ranked second overall.

Denmark ranked in the top 20 in all but one of the 11 metrics used by Forbes to gauge the Best Countries for Business. It finished 28th for red tape.

New Zealand moved up one spot to No. 2 (it ranked first in 2012). Rounding out the top five are Norway, Ireland and Sweden.

While the US fell in Forbes ranking, the world’s next four biggest economies all improved their overall standing. Britain and Japan both moved up three spots to No. 10 and No. 23 respectively.

Germany improved two places to No. 18. China rose from No. 97 to No. 94.

India is developing into an open-market economy, yet traces of its past autarkic policies remain, Forbes said.

India’s rankings on the 11 metrics were: Trade Freedom 125, Monetary Freedom 139, Property Rights 61, Innovation 41, Technology 120, Red Tape 123, Investor Protection 8, Corruption 77, Personal Freedom 57, Tax Burden 121 and Market Performance 65.

India’s growth in 2014 fell to a decade low, as India’s economic leaders struggled to improve the country’s wide fiscal and current account deficits, the business magazine noted.

Rising macroeconomic imbalances in India, and improving economic conditions in Western countries led investors to shift capital away from India, prompting a sharp depreciation of the rupee, Forbes noted.

However, investors’ perceptions of India improved in early 2014, due to a reduction of the current account deficit and expectations of post-election economic reform, resulting in a surge of inbound capital flows and stabilization of the rupee.

The outlook for India’s long-term growth is moderately positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy, Forbes said.

However, India has many challenges that it has yet to fully address, including poverty, corruption, violence and discrimination against women and girls, an inefficient power generation and distribution system and ineffective enforcement of intellectual property rights, it said.

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