Rank #3193
Niraj Shah
Net worth $1.1B
online retail · United States
- Born
- Mar 10, 1974
- Age
- 52
- Source
- online retail
- Residence
- Boston, Massachusetts
- Citizenship
- United States
- Marital status
- Married
- Children
- 2
- Education
- Bachelor of Science in Engineering, Cornell University
Net worth over time
Biography
- 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
Financial assets
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