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Billionaire Profile
Rakesh Gangwal
Global Rank
#759

Image: Unsplash Contributor | Unsplash License | via Unsplash

Rakesh Gangwal

CEO, Airline
UNITED STATES
Real-Time Net Worth
$5.436B
Estimated based on Airline stock value as of March 6, 2026
-0.8% (24h)
Age
72
Source
Airline
Industry
Service
Citizenship
UNITED STATES

Biography

Rakesh Gangwal is an Indian-American billionaire businessman and aviation industry veteran, best known as the co-founder of IndiGo, India's largest airline. Born in Kolkata, India, and educated at IIT Kanpur and the Wharton School, Gangwal's career includes significant leadership roles at US Airways Group and Air France. His entrepreneurial drive transformed IndiGo into a market leader. As of July 2025, his net worth is estimated at $6.6 billion, a testament to his strategic investments and understanding of the aviation sector. He is currently the chairman of the Southwest Airlines board of directors. His wealth stems primarily from his equity in InterGlobe Aviation (IndiGo).

Fact Checked
Verified by Editorial Team
Live Data
Updated 3/6/2026

Wealth Over Time

In-Depth Profile

Early Life

Rakesh Gangwal was born in Kolkata, India, in July 1953. He received a Bachelor of Technology degree in Mechanical Engineering from the Indian Institute of Technology Kanpur in 1975. Subsequently, he earned an MBA from the Wharton School of the University of Pennsylvania.

Rise to Success

Gangwal's career in the aviation industry began in 1980, when he worked with United Airlines as an associate of Booz Allen Hamilton. In 1984, he joined United Airlines as a manager for strategic planning, holding several senior positions. From 1994, he served as executive vice president of Air France. Then, he became the president and CEO of US Airways Group from 1998 to 2001.

Key Business Strategies

In 2006, Gangwal co-founded IndiGo Airlines with Rahul Bhatia. The airline quickly became India's largest low-cost carrier by market share. Gangwal stepped down from IndiGo's board in February 2022 and announced his plans to gradually sell his stock. He was named chairman of Southwest Airlines in November 2024, but resigned from that role in August 2025, though he remains on the board.

Philanthropy

In April 2022, Rakesh Gangwal donated ₹100 crore (approximately $13.16 million) to IIT-Kanpur to set up a school of medical sciences and technology.

Career Milestones

1975

Graduated from IIT Kanpur

Earned a Bachelor's degree in Mechanical Engineering.

1984

Joined United Airlines

Served as manager for strategic planning.

1994

Executive VP of Air France

Held a senior executive position.

1998

President and CEO of US Airways Group

Led the airline until 2001.

2006

Co-founded IndiGo Airlines

Launched India's largest low-cost carrier.

2024

Chairman of Southwest Airlines Board

Appointed as the chair of the board.

Philanthropy & Social Impact

Education

IIT-Kanpur Donation

$13.16M

Donated to set up a school of medical sciences and technology.

Controversies & Challenges

2020

Disagreement with Co-founder

Clashed with Rahul Bhatia over the future of IndiGo, leading to Gangwal's decision to reduce his stake.

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