Source of Wealth:Education
Full Name:Ranjan Pai
Occupation:CEO of Manipal Education & Medical Group
About Ranjan Pai
Ranjan Pai is the head of Manipal Education & Medical Group (MEMG) and he has an estimated net worth of $1.3 billion as of March 2013. He joined the list of Forbes richest person as the 63rd richest Indian in the India’s Richest list as well as the 1107th in the list of World Billionaires.
Mr. Pai is the Chief Executive Officer of MEMG which operates 6 colleges and 15 hospitals. The business was started by his grandfather after he opened in 1993 the first privately owned medical school in India which is located in Manipal, a town in Karnataka. In 1978, after the family split, his father took charge of the business.
Pai holds a medical degree and he is interested in stem cell therapy and clinical research. He was forced to quit his job in the U.S. at the age of 28 after he was asked to take over the delayed medical school project by his family in Malaysia. He has been successful in his venture and has helped turn Maniap into a global brand in education. He is also buying back stakes which Azim Premji, a software tycoon, and N.R. Narayana Murthy both personally held in Manipal that pegs the evaluation of his education firm at $1.2 billion.
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