Recently, when Forbes came out with its ‘America’s Richest Entrepreneurs Under 40 2016’ list, a proud moment engulfed us all when two Indian origin entrepreneurs made it to the list.
Making it to the list required fulfilment of 3 conditions put up by Forbes. To be eligible for the list, individuals had to be under the age of 40 as of December 12. These entrepreneurs also have to reside in the US and substantially have made their own fortunes in this country. The two Indian Americans nailed it all.
A biotech entrepreneur, Vivek Ramaswamy, has bagged the 24th spot on Under 40 list with a net worth of 600 million dollars. While, Apoorva Mehta, successfully grabbed the 31st spot on the list with a 360 million dollars net worth.
Forbes praised Ramaswamy, a Harvard University and Yale School of Management alumnus, as “Vivek continues to make waves in the biotech business with his deals and drug development plans”.
Last year, Ramaswamy pulled off the biggest IPO in the US biotech history by listing shares of Axovant, a company that is trying to develop a new Alzheimer’s drug. Roivant Sciences run by Ramaswamy, is a biotech holding company with an innovative financial strategy to develop drugs, often by purchasing drugs that have been forgotten or abandoned by the pharmaceutical industry.
On the other hand, Forbes termed Mehta one of Silicon Valley’s youngest immigrant success stories. Apoorva Mehta, before working with brands like Blackberry, Qualcomm and then Amazon, coufounded Instacart in 2012 which is a grocery deliver service that has ties ups with grocery chains. With an estimated value of $2 billion, the company has also recently raised funding from Whole Foods Market in March 2016.
While Mark Zuckerberg stood tall being at the no.1 spot on Forbes’ Wealthiest Entrepreneurs list whose Facebook shares and net worth soared to new heights. He is now worth $50 billion, up $2.9 billion from a year ago.