Indigo co-founders are the wealthiest aviation billionaires in the world: report

Indigo co-founders Rakesh Gangwal and Rahul Bhatia have emerged as the wealthiest aviation billionaires with a wealth of US$ 3.6 billion and US$ 3.3 billion respectively, according to the 2023 Hurun Global Rich List.

Kolkata-born Gangwal, who lives in San Francisco, held a 33.78 per cent stake in InterGlobe Aviation, the parent company of IndiGo airlines. His first foray in the aviation industry was in 1980 when he worked as an associate with Booz & Allen Hamilton Inc.

Before starting IndiGo airlines in 2006, Gangwal was chairman, president and CEO of WorldSpan Technologies between 2003 and 2007. he resigned from the Board of Directors in February 2022 and later that year sold 2.74 per cent stake that was worth Rs 2,005 crore.

Following Gangwal's resignation, Rahul Bhatia took full charge of the airlines. He was appointed the Managing Director of InterGlobe Aviation in February 2022 for a five-year period . He holds a degree in electrical engineering from the University of Waterloo in Ontario in Canada.