⬅ # 604 Miguel Krigsner|# 606 Tomasz Biernacki ➡

# 605 Romesh Wadhwani 

$5.05B

Real Time Net Worth
as of 7/2/2024

# 605 Romesh Wadhwani 

$5.05B

Real Time Net Worth
as of 7/2/2024
OccupationFounder and Chair, Symphony Technology Group
Source of WealthSoftware
Age76
ResidencePalo Alto, California
Marital StatusMarried
Children1
EducationDoctorate, Carnegie Mellon University; MS, Carnegie Mellon University; BS, Indian Institute of Technology, Bombay
Age-Adjusted Net Worth$1.71B
Romesh Wadhwani
Romesh Wadhwani
United States
Net worth: $5.05B

Self-Made Score 

Wealth History

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Biography

Overview

Romesh T. Wadhwani, an Indian-American billionaire businessman, was born in Karachi, British India (now Pakistan) around 1947/48, with his family relocating to India post-1947 independence.
Despite contracting polio at age 2, Wadhwani overcame challenges to pursue education, ultimately earning a bachelor's degree from IIT Bombay and master's and PhD degrees in electrical engineering from Carnegie Mellon University.
He is the founder, chairman, and CEO of Symphony Technology Group (STG), a private equity firm specializing in software, Internet, and technology services companies.
Wadhwani founded Aspect Development, Inc., in 1991, leading it until its acquisition by i2 Technologies for $9.3 billion in stock in 1999.
He served as the executive chairman of multiple companies, including Symphony Teleca Corporation, MSC Software Inc., Symphony Health Solutions Inc., and Shopzilla Inc.
Wadhwani and his brother, Sunil Wadhwani, established the Wadhwani Institute for Artificial Intelligence in Mumbai, focusing on developing AI solutions for public good.

Career Highlights

Founded American Robot Corporation and Compu-Guard Corporation, specializing in software, computer-integrated manufacturing, and technology-enabled energy management.
Founded Aspect Development, Inc. in 1991 and led it until its $9.3 billion acquisition by i2 Technologies in 1999.
Currently serves as chairman of Symphony AI, an enterprise AI firm, and ConcertAI, focused on healthcare and life sciences.
Stepped down as CEO of SymphonyAI in 2022 to prepare the company for a potential public offering.
Executive chairman roles include Symphony Teleca Corporation, MSC Software Inc., Symphony Health Solutions Inc., and Shopzilla Inc.
Established the Wadhwani Institute for Artificial Intelligence in Mumbai with his brother, Sunil Wadhwani, aiming to develop AI solutions for societal benefits.

Philanthropic Endeavors

Established the Wadhwani Foundation for economic development, focusing initially on initiatives in India.
Initiatives include the National Entrepreneurship Network, a skills college network, an opportunities network for the disabled, and a research initiative in biosciences and biotechnology.
Launched a US-India policy initiative with involvement from prominent figures like Rick Inderfurth and Hemant Singh.
Contributed to educational and research initiatives, including the inauguration of a research center at the National Centre for Biological Sciences (NCBS) in Bangalore named after his late mother, Shanta Wadhwani.
Served on the board of trustees of the John F. Kennedy Center for the Performing Arts and the Center for Strategic and International Studies.

Personal Life and Honors

Married to Kathleen 'Kathy' Wadhwani, residing in Palo Alto, California.
Has one daughter, Melina, who married Patrick Carey in 2011, with Carey working at Symphony Talent.
Received an honorary doctorate from IIT Bombay in August 2018.
Won the India Abroad Award for Lifetime Achievement in 2013.

How long would it take you to become as rich as Romesh Wadhwani?

If you started with $10,000 and invested an additional $500 each month at a 44.06% CAGR, it would take you 5 years to reach Romesh Wadhwani's net worth of $5.05B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 48.24% compared to 16.19% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Romesh Wadhwani is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Romesh Wadhwani, Software is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey