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Apoorva Mehta, Vivek Ramaswamy Feature In Forbes List Of US’ Richest Entrepreneurs Under 40

NEW YORK — Two Indian-origin men have figured in Forbes magazine’s second annual list of wealthiest entrepreneurs under the age of 40 which is topped by Facebook founder Mark Zuckeberg.

Vivek Ramaswamy, a successful biotech entrepreneur has been ranked 24th on ‘America’s Richest Entrepreneurs Under 40 2016’ list with a net worth of 600 million dollars and Apoorva Mehta stands at 31st spot with a 360 million dollars net worth.

Ramaswamy, 31, a Harvard University and Yale School of Management alumnus, continues to make waves in the biotech business with his deals and drug development plans, Forbes said.

He was behind the biggest biotechnology initial public offering of 2016, Myovant Sciences, which raised USD 218 million listing its shares on Nasdaq in October, it said.

Last year, Ramaswamy pulled off the biggest IPO in the US biotech history by listing shares of Axovant, a company that is trying to develop a new Alzheimer’s drug.

He runs Roivant Sciences, a biotech holding company with an innovative financial strategy to develop drugs, often by purchasing drugs that have been forgotten or abandoned by the pharmaceutical industry.

Forbes called Mehta one of Silicon Valley’s youngest immigrant success stories.

Born in India, Mehta and his family moved to Canada in 2000, where he studied engineering at the University of Waterloo before working at Blackberry, Qualcomm, and then Amazon. In 2012, he cofounded Instacart, a grocery delivery service that partners with grocery chains.

PTI