Rakesh Gangwal – The Co-Founder of IndiGo Airlines

Rakesh Gangwal is a very rich Indian-American billionaire businessman and he is such an inspirational man. He is the co-founder and 37% partner of IndiGo Airlines. Rakesh made his fortune from Interglobe Aviation. However, he is such a great successful man in his life just by his hard work and by doing continued work on himself. Mr. Gangwal started his career of airlines with united airlines in 1984 and then begin running US airways as chief executive and chairman. Now let’s take a look that how he become a successful billionaire in his life.

Early Days of Rakesh’s Life 

Rakesh Gangwal was born in Kolkata, India on 25 July 1952. In 1977 Rakesh moved from India to the United States of America. From then he is an American citizen. The name of his any of the family members is not known. Yet all that is documented is that his family was from India. He finished his education at Don Bosco School in Park Circus, Kolkata, India.

In 1975, he graduated from the Indian Institute of Technology Kanpur with a bachelor of technology degree in mechanical engineering. Afterward, he studied at the University of Pennsylvania’s Wharton School and earned a master’s degree in business administration. He has a commanding presence now that he has completed his qualifications.

Mr.Gangwal Career

Before becoming a billionaire he worked on various multiple posts during his career. From 2002 to 2003, he was involved in a variety of individual entrepreneurial activities. From June 2003 to August 2007, he served as chairman, president, and CEO of Worldspan Technologies. Also, he is a co-founder as well as 37% owner of Inigo Airlines.

In an interview, Rakesh mentioned that before opening IndiGo airlines they wanted to be a world-class airline and they have three defined ways. First, they want customer service to be absolutely outstanding at a level where a customer says this is what is expected and gets more than that. Second, they want their employees to feel very good about the company. Third, the shareholders are very happy. And their goal is to leave behind India in a transportation network that they would take a lot of pride in.

In September 1980, he began his work with airline companies in collaboration with Booz Allen & Hamilton. He entered United Airlines in 1984 as a manager of strategic planning. He was an executive vice president for Air France until joining US Airways in November 1994. Moreover, he worked as a business advisor in Ford Motor Company’s division of product development and as operations and scheduling engineer for Philips India Ltd.

Rakesh has indeed resigned from the University of Colorado’s board of advisers, the Providence St. Mel School’s board of trustees, the board of directors of Airlines Tariff Publishing CO., and the Alexian Brothers Medical Center’s board of trustees. 

Start-Up of IndiGo Airlines

In 1985, Rakesh met Rahul Bhatia at US  airlines head Quater where he was working for so many years. They both become friends. Then in 2005, they both planned and started IndiGo Airlines. Both have a partnership of 50-50%. The company buys 100 aircraft from the IndiGo french company. With the help of Rakesh’s experience with US airlines, the company got a profit of 30 to 35 crore. In 2006, the company started domestic flights, and in 2007 within a year the company rich to more than 10 lakh of passengers. 

Between 2011-2015 IndiGo Airlines generated about one and a half billion dollars which are stunning number, especially for a start-up and an airline. The company become India’s most significant company of airline in 2012. And in 2014 Indigo Airlines become the 7th most extensive and most successful company in Asia. In 2022, on 19 February Rakesh has given resignation from the company for personal reasons and said that he will be selling his holdings over the next five years.

Personal Life

Mr. Gangwal is married and is the father of her only daughter named Parul and lives in Miami, Florido. Parul Gangwal worked in a software company Salesforce in Califonia. She also started up Wheelhouse Capital in June 2021.

Achievements

Rakesh has a lot of series of positions at United Airlines. He donated 100 crores to set up a school of medical sciences and technology at IIT Kanpur which is really a big heart move. This was one of the biggest personal donations IIT has ever received.  He ranked number 359 in the Forbes 400 list of the richest people in America in the year 2020. As mentioned before he is also a co-founder of IndiGo airlines and had a 37% share of IndiGo promoters. He is such a gentleman in his work and completed his work on time as he promised. There is no limit to the achievement that he has achieved in his life.

Conclusion

Rakesh Gangwal is a great American-Indian Businessman whose net worth of the year is 400 crores in 2022. He is a very good specimen of hard work and he always believes to concentrate on the work that you are doing rather than focusing on others.

The inspirational story of Rakesh Gangwal is a boost of inspiration and motivation for all of us

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