{{Short description|American businessman}} {{Use dmy dates|date=May 2022}} {{Use Indian English|date=May 2022}} {{Infobox person | name = Rakesh Gangwal | image = | caption = | birth_name = | birth_date = {{birth date and age|1953|7|25|df=y}} | birth_place = Kolkata, West Bengal, India | death_date = | death_place = | nationality = | citizenship = American<ref name="Forbes profile">{{cite web |title=Forbes profile: Rakesh Gangwal |url=https://www.forbes.com/profile/rakesh-gangwal/ |website=Forbes |accessdate=21 October 2020}}</ref> | education = {{Unbulleted_list|Indian Institute of Technology Kanpur (B.Tech)|University of Pennsylvania (MBA)}} | occupation = Businessman | known_for = Co-founder and owner of IndiGo, Former Chair of Southwest Airlines | title = | term = | predecessor = | successor = | boards = | spouse = Married | partner = | children = 1 | parents = | relatives = | website = }}
'''Rakesh Gangwal''' (born July 1953) is an Indian-American billionaire businessman. He is the co-founder of IndiGo Airlines alongside Rahul Bhatia.<ref>{{Cite web |title=IndiGo Success Story: How Friendship Gave Birth To Indias Most Successful Airline - An Inspiring Tale Of Two Friends |url=https://zeenews.india.com/companies/flying-high-the-friendship-that-gave-birth-to-indias-most-successful-airline-indigo-2649987.html |access-date=2024-11-03 |website=Zee News |language=en}}</ref> He is the former chief executive officer (CEO) and chairman of US Airways Group. From June 2003 to August 2007, Gangwal was the chairman, president, and chief executive officer of Worldspan Technologies, a provider of travel technology and information services to the travel and transportation industry. From 2002 to 2003, Gangwal was involved in various personal business endeavors, including private equity projects and consulting projects. He was the president and CEO of US Airways Group from 1998 until his resignation in 2001.<ref name=":0">{{cite web|url=https://people.forbes.com/profile/rakesh-gangwal/59607|archive-url=https://web.archive.org/web/20090616085936/http://people.forbes.com/profile/rakesh-gangwal/59607|url-status=dead|archive-date=16 June 2009|title=Sheikha Mozah Bint Nasser Al-Missned|publisher=}}</ref><ref name=":1">{{cite web|url=http://www.post-gazette.com/businessnews/20011127usair1128bnp2.asp|title=Gangwal exits US Airways|website=www.post-gazette.com}}</ref> In November 2024, Gangwal was appointed chair of the Southwest Airlines corporate board until stepping down eight months later.<ref name=SWA-Reuters/><ref name=SWA-Aviator/>
== Early life == Gangwal was born in July 1953 in a Jain family based in Kolkata, India.<ref name=":2">{{Cite news |title=Business Standard: Who is Rakesh Gangwal |url=https://www.business-standard.com/about/who-is-rakesh-gangwal}}</ref><ref>{{Cite web |title=Rakesh GANGWAL personal appointments - Find and update company information - GOV.UK |url=https://find-and-update.company-information.service.gov.uk/officers/ZSvrLa_74tmYbQR5Do8Tln8JOyk/appointments |access-date=2024-11-03 |website=find-and-update.company-information.service.gov.uk |language=en}}</ref><ref>{{Cite news |title=Livemint.com: Rakesh Gangwal: the airline industry disciplinarian behind IndiGo's runaway success |url=https://www.livemint.com/companies/people/rakesh-gangwal-indigo-aviation-veteran-low-cost-airline-rahul-bhatia-kingfisher-airlines-jet-airways-southwest-airlines-11730471890614.html}}</ref><ref>{{Cite news |date=2024-11-03 |title=Bloomberg Billionaires Index |url=https://www.bloomberg.com/billionaires/profiles/rakesh-gangwal/#:~:text=Biography,-Education:%20Wharton%20School&text=Gangwal%20was%20born%20in%201953,of%20the%20University%20of%20Pennsylvania. |access-date=2024-11-03 |work=Bloomberg.com |language=en}}</ref> He attended Don Bosco School, Park Circus before earning a bachelor's degree in Mechanical Engineering from the Indian Institute of Technology Kanpur in 1975, and an MBA degree from the Wharton School of the University of Pennsylvania.<ref name="Forbes profile"/>
== Career == After completing his bachelor's degree from IIT Kanpur at the age of 23, Gangwal moved to the United States in 1977.<ref>{{Cite web |title=Rakesh Gangwal |url=https://www.iitk.ac.in/eea/blogs/blog-rakesh.html |access-date=2024-10-04 |website=www.iitk.ac.in}}</ref> His association with the airline industry began in September 1980, when, as an associate of Booz Allen Hamilton, he worked closely with United Airlines.<ref>{{Cite news |date=2023-08-16 |title=Rakesh Gangwal & Rahul Bhatia: How two friends built India's most successful airline and then split ways |url=https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/rakesh-gangwal-how-two-friends-built-indias-most-successful-airline-and-then-split-ways/articleshow/102771930.cms?utm_source=perplexity&from=mdr |access-date=2024-11-03 |work=The Economic Times |issn=0013-0389}}</ref> In 1984, Gangwal joined United as the manager for strategic planning. He held a series of positions there.<ref name="Mr Rakesh Gangwal">{{Cite web |title=Mr Rakesh Gangwal |url=https://www.iitk.ac.in/dora/profile/Mr-Rakesh-Gangwal?utm_source=perplexity |access-date=2024-11-03 |website=www.iitk.ac.in}}</ref>
Prior to joining US Airways, Gangwal served as executive vice president for Air France beginning in November 1994. Previously, Gangwal had been a financial analyst in the product development group of Ford Motor Company and a production and planning engineer with Philips India Ltd.<ref name="Mr Rakesh Gangwal"/><ref>{{Cite news |title=Good returns.in: Rakesh Gangwal: Net Worth & Biography |url=https://www.goodreturns.in/rakesh-gangwal-net-worth-and-biography-blnr789.html?utm_source=perplexity}}</ref>
Gangwal has served on the board of advisers of the University of Colorado Denver, the board of trustees of Providence St. Mel School (Chicago), the Board of Directors of the Airline Tariff Publishing Co. and Board of Trustees of the Alexian Brothers Medical Center (Elk Grove, Illinois, USA). Gangwal was conferred with the Distinguished Alumnus Award of the Indian Institute of Technology Kanpur.<ref>{{Cite web|url=https://www.iitk.ac.in/me/quick-info/alumni/distinguished-alumni|title=Distinguished Alumni|last=Kiran|website=www.iitk.ac.in|language=en-gb|access-date=2018-07-05}}</ref>
In April 2022, Gangwal donated a sum of ₹100 crore (approximately $13.16 million) to set up a school of medical sciences and technology at IIT-Kanpur, which also received another ₹200 crore (approximately $26.32 million) in donations from other alumni for the medical institution. The facility was planned to have a 450-bed super speciality hospital and several centers of excellence.<ref>{{Cite news |last=Verma |first=Prachi |date= |title=IndiGo cofounder Rakesh Gangwal donates ₹100 crore to IIT-Kanpur |work=Economic Times |url=https://economictimes.indiatimes.com/magazines/panache/rakesh-gangwals-big-hearted-move-twitter-hails-indigo-co-founders-rs-100-crore-donation-to-iit-kanpur/articleshow/90657021.cms}}</ref>
In 2020, Gangwal was ranked 359th on the ''Forbes'' 400 list of the richest people in America.<ref>{{Cite web|title=Rakesh Gangwal|url=https://www.forbes.com/profile/rakesh-gangwal/|access-date=2020-10-21|website=Forbes|language=en}}</ref>
In July 2024, Gangwal joined the board of Southwest Airlines,<ref>{{Cite web |date=2024-10-03 |title=Southwest Air Rises After Billionaire Gangwal Buys $108 Million of Shares |url=https://finance.yahoo.com/news/southwest-air-rises-billionaire-gangwal-184735718.html |access-date=2024-10-04 |website=Yahoo Finance |language=en-US}}</ref> later buying approximately {{US$}}108 million worth of shares of the airline.<ref>{{Cite web |date=October 4, 2024 |title=Rakesh Gangwal buys $108 million of shares in Southwest Airlines |url=https://www.moneycontrol.com/news/business/rakesh-gangwal-buys-108-million-of-shares-in-southwest-airlines-12835182.html/amp |access-date=October 4, 2024 |website=Money control}}</ref>
As of 30 September 2024, Gangwal and his family Trust (The Chinkerpoo Family Trust), with trustees Shobha Gangwal and JP Morgan Trust Company of Delaware held around 5.31 percent and 8.23 percent stake in Indigo Airlines respectively.<ref>{{Cite web |title=Goindigo.in: Shareholding Pattern |url=https://www.goindigo.in/information/investor-relations/shareholding-pattern.html}}</ref><ref>{{Cite web |title=Interglobe Aviation Ltd share price {{!}} About Interglobe Aviat {{!}} Key Insights - Screener |url=https://www.screener.in/company/INDIGO/#shareholding |access-date=2024-11-03 |website=www.screener.in}}</ref><ref>{{Cite web |title=InterGlobe Aviation Ltd. Latest Shareholding Pattern – Promoter, FII, DII, Mutual Fund. Who owns, bought or sold InterGlobe Aviation Ltd. Shares? |url=https://trendlyne.com/equity/share-holding/1784/INDIGO/latest/interglobe-aviation-ltd/ |access-date=2024-11-03 |website=Trendlyne.com |language=en}}</ref>
In November 2024, as part of its settlement with Elliott Investment Management, an activist investment fund, Southwest Airlines appointed Gangwal as chair of its corporate board.<ref name=SWA-Reuters>{{Cite news |author=<!--not stated--> |date=4 November 2024 |title=Southwest names aviation veteran Gangwal as board chairperson |url=https://www.reuters.com/business/aerospace-defense/southwest-names-aviation-veteran-gangwal-board-chairperson-2024-11-04/ |access-date=8 November 2024 |work=Reuters}}</ref><ref name=SWA-Aviator>{{Cite web |date=4 November 2024|title=Southwest Airlines Names Rakesh Gangwal Chair Of The Board And Announces New Committee Chairs |url=https://newsroom.aviator.aero/southwest-airlines-names-rakesh-gangwal-chair-of-the-board-and-announces-new-committee-chairs/ |access-date=8 November 2024 |website=AVIATOR |language=en}}</ref> Gangwal announced his decision to step down from his role as Chair, effective Aug. 1, 2025, due to additional time commitments unrelated to the airline, but remain on the board.<ref>{{Cite web |title=SOUTHWEST AIRLINES ANNOUNCES GOVERNANCE CHANGES |url=https://www.southwestairlinesinvestorrelations.com/news-and-events/news-releases/2025/07-31-2025-220038684 |access-date=2025-08-01 |website=www.southwestairlinesinvestorrelations.com |language=en}}</ref>
== Personal life == Gangwal is married with one daughter and lives in Miami, Florida.<ref name="Forbes profile"/> His daughter, Parul, worked for the enterprise software company Salesforce in California.<ref name="Forbes profile"/> She later launched her own start-up, Minnesota-based Wheelhouse Capital, in June 2021.
== References == {{reflist}} {{Southwest Airlines}}
{{DEFAULTSORT:Gangwal, Rakesh}} Category:1953 births Category:American people of Indian descent Category:Rajasthani people Category:Living people Category:IIT Kanpur alumni Category:American Jains Category:Businesspeople from Kolkata Category:Southwest Airlines people Category:Wharton School alumni Category:American company founders Category:American chief executives Category:American billionaires Category:American chief executives in the airline industry