Five Indian-Americans in Forbes list of US' richest

September 20, 2012

New York, September 20: Five Indian-Americans, including Silicon Valley venture capitalist Vinod Khosla and founder of IT major Syntel, Bharat Desai, have been named among the richest people in the US by Forbes, a list of 400 billionaires topped by Microsoft founder Bill Gates. See images


Gates, 56, whose net worth grew $7 billion from a year earlier to $66 billion in 2012, topped the list for the 19th year in a row.

He is followed by Berkshire Hathaway Inc.'s Buffett (No. 2) with $46 billion, also up $7 billion from last year, and Oracle Corp's Larry Ellison (No. 3) with $41 billion, up $8 billion—and the biggest dollar gainer this year.

Desai with a net worth of $2 billion as of September 2012 has been ranked 239 in Forbes' annual list released yesterday.

Desai, 59, started Syntel in 1980 with his wife while earning his MBA from the University of Michigan. An IIT Mumbai alumnus, Desai stepped down as chief executive of the firm in 2009 but remains chairman.

Founder and chairman of the Symphony Technology Group, Romesh Wadhwani is ranked 250 with a net worth $1.9 billion.

Google board member and shareholder Kavitark Ram Shriram occupies the 298th rank with a net worth of $1.6 billion. Manoj Bhargava, founder and CEO of the popular energy drink '5-hour energy' is ranked 311 and has a $1.5 billion net worth.

He is followed by Khosla on the 328th rank and a $1.4 billion net worth.

The net worth of the richest Americans grew by 13 per cent in the past year to $1.7 trillion, Forbes magazine said in a statement.

A graduate of Carnegie Mellon University and IIT Mumbai, Wadhwani, 65, developed business software firm Aspect Development which he sold in 2000 during the height of the tech bubble for $9.3 billion.

A "notable" newcomer on the list, Bhargava, 59, is a Princeton University drop out who "chose one of the roads less traveled to the American Dream".

Described as a math whiz, Bhargava lived as a monk in the mountains of India for 12 years before returning to the US to forge a successful career in plastics.

Forbes said Stanford and IIT alumnus Khosla, 57, "isn't afraid to fail”. His firm also had a stake in social enterprise software company Yammer, which was purchased by Microsoft in July for $1.2 billion.

A Google board member and large shareholder, Shriram, 55, has stakes in online outsourcer 24/7 Customer and serendipitous website picker StumbleUpon.

He also invested in Inkling, which makes interactive textbooks for the iPad.

He serves as a trustee at Stanford University, where he and his wife endowed the Shriram Family Professorship in Science Education.


Facebook founder Mark Zuckerberg has been pushed down in the rankings to the No. 36 spot with his estimated net worth falling by about $8 billion to $9.4 billion since Facebook went public in May.

bharat_desai

Bharat Desai | Rank: 239 | Net worth: $2 billion

Desai, 59, is the chairman and co-founder of Syntel, which he started in 1980 with his wife while earning his MBA from the University of Michigan. An IIT Mumbai alumnus, Desai stepped down as chief executive of the firm in 2009.

romesh-wadhwani

Romesh Wadhwani | Rank: 250 | Net worth: $1.9 billion

Wadhwani, 65, is the founder and chairman of Symphony Technology Group, a private equity firm that invests in software and software services companies.

kavitark-ram-shriram

Kavitark Ram Shriram | Rank: 298 | Net worth: $1.6 billion

Shriram, 55, is a Google board member and shareholder. He also has stakes in online outsourcer 24/7 Customer and website picker StumbleUpon. He was one of the first people to write a check to Google co-founders Sergey Brin and Larry Page in 1998.

manoj-bhargava

Manoj Bhargava | Rank: 311 | Net worth: $1.5 billion

Bhargava, 59, is the founder and CEO of the popular energy drink brand '5-hour energy'. He is a Princeton University drop out who "chose one of the roads less travelled to the American Dream".

vinod-khosla

Vinod Khosla | Rank: 328 | Net Worth: $1.4 billion

Khosla, 57, is a partner at Khosla Ventures. The Stanford and IIT alumnus "isn't afraid to fail, and has staked a big claim in clean tech—including on some companies he refers to as science experiments".


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News Network
May 8,2020

New York, May 8: An Indian-American father and daughter, both doctors in New Jersey, have died due to the COVID-19, with Governor Phil Murphy describing their demise as “particularly tough" and hailed them for dedicating their lives for others.

Satyender Dev Khanna, 78, was a surgeon who served both on staff and as the head of the surgical departments for multiple hospitals across New Jersey for decades.

Priya Khanna, 43, was a double board-certified in both internal medicine and nephrology. She was Chief of Residents at Union Hospital, now part of RWJ Barnabas Health.

"Dr Satyender Dev Khanna and Dr Priya Khanna were father and daughter. They both dedicated their lives to helping others. This is a family dedicated to health and medicine. Our words cannot amply express our condolences," New Jersey Governor Murphy tweeted on Thursday.

“Both dedicated their lives to helping others and we lost both of them to COVID-19,” Murphy said during a press conference on Thursday, saying their demise is a "particularly tough one.”

Satyender passed away at the Clara Maass Medical Center where he had worked for more than 35 years.

Murphy described him as a "pioneering doctor” who was one of the first surgeons to perform laparoscopic surgery in the state. He is being remembered by colleagues as a “gentle and caring physician."

“And for a doctor, I'm not one, but I would bet, I don't think there could be a more fitting way to be remembered, or a nurse or a healthcare worker of any kind,” Murphy said, adding that the doctor had a passion for bicycling, and he often found peace from the hustle of the hospital in biking along the Jersey Shore.

Priya did all of her medical training in New Jersey and then did her fellowship in nephrology in South Jersey with the Cooper Health System. Like her father, she too worked at Clara Maass, where she died.

She was also Medical Director at two dialysis centres in Essex County and “took pride” in teaching the next generation of doctors, Murphy said, adding that the ICU physician who cared for Priya Khanna was trained and taught by her as well.

Follow live developments on the coronavirus pandemic here

“Priya will be remembered as a caring and selfless person who put others first. And even while in the hospital, fighting her own battle, she continued to check up on her mom and dad and her family,” Murphy said.

“This is a family, by the way, dedicated to health and medicine,” he said.

The governor spoke with Satyender's wife Komlish Khanna, who is a paediatrician. The couple has two more daughters - Sugandha Khanna, an emergency medicine physician and Anisha Khanna, a paediatrician.

“Unbelievable. Our words cannot amply express our condolences nor, I am sure, can they express the pain that the Khanna family is feeling. But I hope that the fact that our entire state mourns with them is some small comfort. And we mourn everyone we have lost. We commit in their memory to saving as many lives as we can,” Murphy said.

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News Network
April 29,2020

Apr 29: US President Donald Trump doubled down on China for failing to tame the coronavirus at its very origin, saying it has led to 184 countries "going through hell", as several American lawmakers demanded steps to reduce dependence on Beijing for manufacturing and minerals.

Trump has been publicly blaming China for the global spread of the "invisible enemy" and launched an investigation against it. He has also indicated that the US may be looking at "a lot more money" in damages from China than the USD 140 billion being sought by Germany from Beijing for the pandemic.

Leaders of the US, the UK and Germany believe that the deaths and the destruction of the global economy could have been avoided, had China shared the information about the virus in its early phases.

"It's in 184 countries, as you hear me say often. It's hard to believe. It's inconceivable," Trump told reporters at White House Tuesday. "It should have been stopped at the source, which was China. It should have been stopped very much at the source, but it wasn't. And now we have 184 countries going through hell.”

The virus, which originated in China's Wuhan city in mid-November, has killed more than two lakh people and infected over three million globally. The largest number of them are in the US: nearly 59,000 deaths and over one million infections.

The massive outbreak in the US has put Trump under increasing pressure from American lawmakers to decrease US dependence on Beijing and they have also sought compensation from China.

Senator Ted Cruz and his colleagues have urged Defence Secretary Mark Esper and Interior Secretary David Bernhardt to support the development of a fully domestic supply chain of rare earths and other minerals that are critical for manufacturing defence technologies and supporting national security.

“It is clear that our dependence on China for vital rare earths threatens our US manufacturing and defence-industrial base. As the October 2018 Defence Industrial Base Report states: ‘China represents a significant and growing risk to the supply of materials deemed strategic and critical to US national security.' [...] Ensuring a US supply of domestically sourced rare earths will reduce our vulnerability to supply disruptions that poses a grave risk to our military readiness," the Senators wrote.

The US is 100 percent import-dependent for rare earths as well as 13 other metals and minerals on the US Government Critical Minerals List and more than 75 percent import reliant for an additional 10 minerals.

Congressman Brian Mast on Tuesday introduced a legislation to hold China accountable for its "coronavirus deception". The resolution would empower the US to withhold payments on debts owed to China equal to the costs incurred by the US in response to COVID-19.

“China's total lack of transparency and mishandling of the coronavirus outbreak has cost tens of thousands of lives, millions of jobs and left untold economic destruction. Congress must hold China accountable for their cover-up and force them to pay back the taxpayer dollars that have been spent as a result,” Mast said.

Cruz, member of the Senate Foreign Relations Committee, announced his intention to introduce a legislation to cut off Hollywood studios from assistance they receive from the Department of Defence if those studios censor their films for screening in China.

This legislation is part of Sen. Cruz's comprehensive push to combat China's growing influence over what Americans see and hear, which includes legislation targeting information warfare from the Chinese Communist Party across higher education, sports, films, radio broadcasts, and more.

Indian-American Congressman Ami Bera and Congressman Ted S. Yoho, both members of the House Foreign Affairs Committee, will lead a bipartisan virtual Special Order to highlight the importance of US global leadership during the COVID-19 pandemic.

“If we abdicate our place as a leader in global health, there is another country eager to take the reins. China has not been subtle in asserting itself on global health issues, and often not for the benefit of other nations. China's recent coronavirus debacle should be evidence enough that their communist regime cannot be trusted to lead with accountability, transparency, or pragmatism, traits that are essential when fighting widespread disease,” Yoho said.

“As for how China would fare as a global health leader, look no further than the disastrous initial response by the WHO to coronavirus, one that was clearly influenced by Beijing. Information was slow-walked, warnings from nations like Taiwan were ignored at crucial turning points, and cooperation with outside health experts was spurned until it was too late. And it has resulted in the largest public health disaster the world has seen in over a century,” he said.

In an interview to Fox News, Senator Marco Rubio alleged that if China had acted when those warnings were being made, instead of silencing the people that were talking about it, they could have limited the spread.

“So there was no doubt that that was a deliberate decision made on their part. The one way to hold them accountable is to do what we should be doing anyway. That is moving the means of production to become less and less dependent upon them. What you're going to see after this pandemic is that more and more countries are going to prioritize their healthcare manufacturing capabilities and other industries,” he said.

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News Network
February 28,2020

Washington, Feb 28: US intelligence agencies are monitoring the global spread of coronavirus and the ability of governments to respond, sources familiar with the matter said on Thursday, warning that there were concerns about how India would cope with a widespread outbreak.

While there are only a few known cases in India, one source said the country's available countermeasures and the potential for the virus to spread given India's dense population was a focus of serious concern.

US intelligence agencies are also focusing on Iran, where the country's deputy health minister has fallen ill during a worsening outbreak.

US Secretary of State Mike Pompeo said on Tuesday the United States was "deeply concerned" Tehran may have covered up details about the spread of coronavirus. A US government source said Iran's response was considered ineffective because the government only has minimal capabilities to respond to the outbreak.

Another source said US agencies were also concerned about the weak ability of governments in some developing countries to respond to an outbreak.

The US House of Representatives Intelligence Committee has received a briefing on the virus from the spy agencies. "The Committee has received a briefing from the IC (intelligence community) on coronavirus, and continues to receive updates on the outbreak on a daily basis," an official of the House Intelligence Committee told Reuters.

"Addressing the threat has both national security and economic dimensions, requiring a concerted government-wide effort and the IC is playing an important role in monitoring the spread of the outbreak, and the worldwide response," the official added.

A source familiar with the activities of the Senate Intelligence Committee, led by Republican Senator Richard Burr and Democratic Senator Mark Warner, said the panel was receiving daily updates. The role of US intelligence agencies in responding to the coronavirus epidemic at this point principally involves monitoring the spread of the illness around the world and assessing the responses of governments.

They are working closely with health agencies, such as the US Center for Disease Control, in sharing information they collect and targeting further intelligence gathering.

One source said US agencies would use a wide range of intelligence tools, ranging from undercover informants to electronic eavesdropping tools, to track the virus' impact.

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