Binny Bansal

Binny Bansal (born 1982/1983) is an Indian billionaire As of February 2024, his net worth was estimated at US$1.4 billion. In 2007, he co-founded the e-commerce platform Flipkart. He was the chief operating officer (COO) until January 2016, when he was promoted to chief executive officer (CEO). He is an anchor investor in the venture firm 021 Capital. In 2019, Bansal invested in the endowment fund of the Indian Institute of Technology (IIT) Delhi.

Early life Binny Bansal was born around 1982/1983.

Career Amazon After college, he worked at Sarnoff Corporation. In January 2007, he joined Amazon as a software engineer, He eventually left Amazon to co-found Flipkart. and had been a fellow student at IIT Delhi, where he developed a lane sensor device for cars which would warn you and beep automatically if you changed lanes without giving a signal.

CEO of Flipkart Bansal was the chief operating officer of Flipkart until January 2016, when he became chief executive officer (CEO), In 2017, he assumed the role of CEO of Flipkart Group and his previous position was handed to Kalyan Krishnamurthy.

In 2018, Walmart acquired a 77% stake in Flipkart Group. After the acquisition, Bansal assumed the role of chairman and continued as group CEO. His 5.5% stake was valued at $1 billion after the acquisition.

He resigned from Flipkart in November 2018 on allegations of personal misconduct. According to the Wall Street Journal, a Walmart investigation failed to find evidence to corroborate sexual assault claims against him but revealed "other poor judgement calls" in how he had handled what he termed a consensual affair with a former Flipkart employee in 2016.

Bansal resigned from the executive team in January 2024, and has completely divested his stake. In the last year, Bansal, along with Excel and Tiger Global Management, sold their entire stake to Walmart, resulting in him earning $1.5 billion. Walmart acquired a 77% stake in Flipkart for $16 billion in May 2018.

Investing

He is an anchor investor in the venture firm 021 Capital which focuses on investing in the fields of biotechnology, agritech, and the internet.

In 2019, he invested 125 crores in the endowment fund of the Indian Institute of Technology (IIT) Delhi.

Awards and recognition In September 2015, Bansal along with Sachin Bansal, was named the 86th richest person in India with a net worth of $1.3 billion by Forbes India Rich List. In April 2016, Sachin and Binny Bansal were named in Time magazine's annual list of the 100 Most Influential People in the World. Afterwards, India Today ranked him #26th along with Sachin Bansal in India's 50 Most powerful people of 2017 list.

Personal life Bansal resides in Singapore. He has twin sons with his wife Trisha Bansal, a homemaker.