Forbes recently announced its 2019 "Forbes 400" list, providing the "definitive ranking of the wealthiest Americans," which includes seven Indian Americans and one Pakistani American.
Among the group are Indian American entrepreneurs Rakesh Gangwal, Jay Chaudhry, Romesh T. Wadhwani, Kavitark Ram Shriram, Brian Sheth, Aneel Bhusri, and Vinod Khosla, as well as Pakistani Shahid Khan.
At No. 207 on the list, Gangwal is the top Indian American on the list. He has $3.8 billion to his name. The 66-year-old compiled his revenue through his Florida-based airline, InterGlobe Aviation, the parent outfit of budget airline IndiGo, India's largest by market share, noted Forbes. Gangwal started his airline career with United Airlines in 1984 and went on to run US Airways Group as its chief executive and chairman.
Chaudhry, 60, comes in at No. 225 on the 2019 wealthiest list. His $3.6 billion was largely made through security software. Chaudhry is CEO of ZScaler, a cybersecurity firm he founded in 2008. It went public in March 2018.
He and his family own 45 percent of the Nasdaq-listed firm.
At No. 261 is Wadhwani, 72, with $3.3 billion. The Indian American has made his money through the software industry. Wadhwani is the chairman and CEO of Symphony Technology Group, which brings in $2.5 billion in annual revenues.
He combined nine of his companies that were AI-focused into a new group called SymphonyAI in 2017, said Forbes.
Shriram, 62, got his $2.2 billion fortune by way of Google and venture capital. He comes in at No. 370 on the list. An early Google backer, Shriram has sold of most of his stock but remains on the board of its parent company, Alphabet, according to Forbes. Born in India, Shriram, who started the VC company Shepalo in 2000, studied math at the University of Madras. After moving to the U.S., he joined Netscape in 1994 as an executive.
Also at No. 370 on the 400-person list was Sheth. The 43-year-old has made $2.2 billion largely through investments. Sheth co-founded private equity firm Vista Equity Partners in 2000 with Robert Smith. Sheth oversees all deal-making at Vista, which has in recent years conducted more software acquisitions than any other company or investor.
Business software leader Bhusri is the third Indian American to come in at No. 370 on the list, with revenues of $2.2 billion. The 53-year-old is CEO of business software firm Workday, which he cofounded with Dave Duffield, the founder of PeopleSoft, said Forbes. Bhusri started his career in the early 1990s at business software firm PeopleSoft, where he rose to become vice chairman.
Khosla, considered an "impact investor," according to Forbes, came in at No. 388 on this year's list. With revenue source coming from venture capital, the 64-year-old Indian American has raked in $2.1 billion. Khosla is the founder of Khosla Ventures, a Silicon Valley venture capital firm. His firm, Khosla Ventures, invests in experimental technologies such as biomedicine and robotics.
Khan, 69, is No. 61 on the list, with a fortune of $7.8 billion. An engineer by trade, Khan bought auto parts supplier Flex-N-Gate from his former employer in 1980. His design for a one-piece truck bumper was the basis for his success; the company now has 66 plants worldwide and over 24,000 employees, noted Forbes. Additionally, Khan is the owner of the NFL's Jacksonville Jaguars, which he bought in 2012, and UK's Fulham football club, which he bought in 2013.
Amid a year of big gains and big losses, The Forbes 400 wealthiest Americans are worth a record-breaking $2.96 trillion, up 2.2 percent from 2018, Forbes notes.
Amazon founder and CEO Jeff Bezos keeps his spot as No. 1 richest in the U.S for the second year in a row, despite parting with a quarter of his Amazon stake in a record-setting divorce settlement earlier this year. He clocks in at $114 billion, down from $160 billion a year ago. His ex-wife, Mackenzie Bezos, joins the list for the first time at No. 15, with a $36.1 billion fortune.
Bill Gates came in at No. 2, the same rank as last year, but the gap between him and Bezos has narrowed dramatically, to just $8 billion.
Besides MacKenzie Bezos, 18 other newcomers join the ranks, including Tim Sweeney, whose video game company Epic Games is behind the wildly popular Fortnite; private equity dealmaker Orlando Bravo, who is the first Puerto Rican-born billionaire; and Anthony Wood, founder of streaming technology firm Roku.
The minimum net worth needed to be part of the exclusive club is unchanged from last year at $2.1 billion; the average net worth of a Forbes 400 member has risen to $7.4 billion, up $200 million.
At these heights, a record 221 American billionaires, ranging from Michael Jordan and Jay-Z to Sheryl Sandberg and Kylie Jenner, fail to make the cut, Forbes said.