Niraj Shah
$1.4B
Born
Mar 10, 1974
Age
51
Source of Wealth
online retail
Residence
Boston, Massachusetts
Citizenship
United States
Marital Status
Married
Children
2
Education
Bachelor of Science in Engineering, Cornell University
- Niraj Shah is cofounder and CEO of online home goods retailer Wayfair.
- He started the business in 2002 with Steve Conine, who is also a billionaire. The two met as high school students at a program at Cornell University.
- Shah and Conine ended up living in the same dorm their freshman year at Cornell and became good friends.
- Wayfair, which now offers more than 18 million products, generated $14 billion in net revenue in 2020, up 55% from the previous year.
- Shah joined the board of the Federal Reserve Bank of Boston in 2017.
- In their final semester of college, Conine and Shah both enrolled in a class on entrepreneurism, which sparked a business plan that turned into their first company.
- The duo started Wayfair in a spare bedroom of Conine's house. They soon operated 250 websites selling everything from barstools to birdhouses
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