Who is Ajay Banga, Joe Biden’s pick for Head of World Bank, Biography, Education, Career and Net worth

• Ajay Banga started his professional career in 1981 after obtaining a position at Nestlé.

• On December 31, 2021, he decided to leave his position and join General Atlantic.

• He served as President and CEO of Mastercard.

• Banga has an estimated net worth of $1.2 billion

For the position of President of the World Bank, Ajay Banga has been proposed. US President Joseph Biden has put forth the businessman from India, Ajay Banga. He is the first individual of Indian descent to be appointed to this role. The private equity company General Atlantic currently has Banga as a vice president. Let’s take a look at his biography.

Ajay Banga Biography

Business executive Ajaypal Singh Banga is of Indian descent. He is currently General Atlantic's vice chairman. He was Mastercard's executive chairman after previously leading the organization as president and CEO from July 2010 until December 31, 2020. On December 31, 2021, he decided to leave his position and join General Atlantic.

Ajay Banga Education and Early life

Banga was born into a Saini Sikh family on November 10, 1959, at the Khadki cantonment of Pune, Bombay State, India, where his father, an army officer, was stationed. His ancestors are from the Punjabi city of Jalandhar. Ajay is married to Ritu Banga. Jojo and Aditi Banga are the couple's two children. 

Banga attended the Hyderabad Public School in Hyderabad as well as St. Edward's School in Shimla for his education. Following his graduation from St. Stephen's College in Delhi with a Bachelor of Arts in Economics, he went on to get a PGP in Management from the Indian Institute of Management in Ahmedabad.

Ajay Banga Career

He started his professional career in 1981 after obtaining a position at Nestlé. The next 13 years were spent at that job. After that, he joined PepsiCo., where he spent some time working and contributing to the development of franchised fast-food outlets in India. Now, Banga serves as Vice Chairman of General Atlantic. Previous to that, he served as President and CEO of Mastercard and guided the business through a strategic, technological, and cultural revolution. He will serve as the honorary chairman of the International Chamber of Commerce from 2020 to 2022. Prior to this, he served on the boards of the American Red Cross, Kraft Foods, and Dow Inc. As Co-Chair of the Partnership for Central America with Vice President Kamala Harris, Ajay has also worked closely with her.

Ajay Banga Networth

According to sources, Banga has an estimated net worth of $1.2 billion, the majority of which comes from his successful business career.