| Net Worth | Salary | Birthdate | Birthplace | Gender | Height | Profession | Nationality |
|---|---|---|---|---|---|---|---|
| $200 million | Unknown | January 14, 1957 | Nagpur, India | Male | Unknown | Banker, CEO | Indian-American |
What is Vikram Pandit’s Net Worth?
Vikram Pandit, an Indian-American banker, has an estimated net worth of $200 million.
Highlights
– Vikram Pandit has a net worth of $200 million.
– He served as the CEO of Citigroup from 2007 to 2012.
– Pandit played a crucial role in developing Morgan Stanley’s prime brokerage division and electronic trading platform.
– He co-founded the hedge fund Old Lane LLC, which was later acquired by Citigroup.
– Pandit has received several awards for his contributions to the business industry.
Early Life
Vikram Pandit was born on January 14, 1957, in Nagpur, India. He was born into a wealthy Marathi family. His father, Shankar Pandit, was an executive director at Sarabhai Chemicals. Pandit attended Bishop Cotton School and Dadar Parsee Youths Assembly High School in Mumbai. At the age of 16, he moved to the United States to pursue higher education at Columbia University. Pandit earned a BS degree in electrical engineering in 1976, followed by an MS in the same field in 1977. He later obtained an MBA and a PhD in finance from Columbia Business School.
Career
Vikram Pandit started his career at Morgan Stanley in 1983. He held various positions and played a significant role in developing the company’s prime brokerage division and electronic trading platform. In 2000, he became the president and COO of Morgan Stanley’s global institutional securities and investment banking operations. After working at Morgan Stanley for 22 years, Pandit left the firm in 2005.
In 2006, Pandit co-founded the hedge fund Old Lane LLC with other former Morgan Stanley employees. The following year, Citigroup acquired Old Lane LLC for $800 million. Pandit and his partner, John Havens, joined Citigroup’s leadership, with Pandit being appointed chairman and CEO of the Citi Alternative Investments unit. Eventually, he became the CEO of Citigroup in 2007.
During his time as CEO, Vikram Pandit faced controversy and abrupt resignation in 2012. There were allegations of fraud and investor payouts, which led to his departure. The circumstances surrounding his resignation were surrounded by speculation, with reports suggesting that he was forced out by the company’s board.
After his departure from Citigroup, Pandit ventured into various business and investment ventures. He partnered with fellow Indian executive Hari Aiyar to purchase a stake in JM Financial and created a fund for distressed assets. In 2016, he formed the Orogen Group in partnership with Atairos Group, which invests in financial services companies.
Personal Life
Vikram Pandit is married to Swati Pandit, and they have two children named Maya and Rahul. He is a naturalized US citizen and resides in the Upper West Side of Manhattan in New York City.
For his contributions to the business industry, Pandit received the Padma Bhushan, one of India’s most prestigious civilian awards, in 2008.
Net Worth Over Time
Vikram Pandit’s net worth has been estimated at $200 million.
Components of Net Worth
Vikram Pandit’s net worth primarily stems from his successful career in the financial services sector. It includes his earnings as the CEO of Citigroup and his contributions to various companies and ventures. His investments and partnership in businesses also contribute to his overall net worth. Additionally, Pandit’s recognition through awards and accolades further enhance his financial value and reputation in the industry.
Disclaimer: All net worths are calculated using data drawn from public sources and are estimates. Corrections and feedback are always welcomed.