Rank #779
Rakesh Gangwal
Net worth $5.4B
Airline · United States
- Born
- Jul 25, 1953
- Age
- 72
- Source
- Airline
- Residence
- Miami, Florida
- Citizenship
- United States
- Marital status
- Married
- Children
- 1
- Education
- Bachelor of Science in Engineering, Indian Institute of Technology; Master of Business Administration, University of Pennsylvania, The Wharton School
Net worth over time
Biography
- Airline veteran Rakesh Gangwal owes his fortune to InterGlobe Aviation, the parent outfit of budget airline IndiGo, India's largest by market share.
- Gangwal started his airline career with United Airlines in 1984 and went on to run US Airways Group as its chief executive and chairman.
- Gangwal cofounded IndiGo, headquartered outside Delhi, with Rahul Bhatia (also a billionaire) in 2006 with one aircraft.
- The Miami resident resigned from the company's board in 2022 and said he would gradually sell his stock over the next five years.
- Gangwal was named chairman of Southwest Airlines in November 2024. He resigned from that role in August 2025 but remains on the board.
- The Indian-born mechanical engineer studied at the Indian Institute of Technology, Kanpur before getting his M.B.A. at Wharton.
- He and his wife paid $30 million for a Miami mansion that previously belonged to billionaire Charles Johnson.
- Gangwal and IndiGo cofounder Bhatia had a bitter falling out in 2019 over corporate governance issues. Their dispute reached courts in London, Florida and Maryland.
Financial assets
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