Facts of Naveen Jain
|Full Name||Naveen Jain|
|Birth Name||Naveen Kumar Jain|
|Profession||Executive Chairman, CEO|
|Birth City||New Delhi|
|No Of Children||3|
|Education||Indian Institute of Technology Roorkee|
|Date of Birth||September 6,1959|
Naveen Jain is an Indian business executive and entrepreneur. He is popular in the world as the founder and the former CEO of InfoSpace.
Jain later co-founded MoonEx (Moon Express) in 2010 where he is the Executive Chairman and founded Viome in 2016, where he serves as the CEO.
How much is Naveen Jain's Net Worth?
The Indian entrepreneur and philanthropist has an estimated net worth of $100 million as of 2019. His immense fortune also consists of a collection of meteorites which is believed to have cost him $5 million.
During the pinnacle of the dot-com bubble his personal net worth was said to be around $8 billion and his company InfoSpace was worth $31 billion. However, after the bubble burst, the company's stock price decreased from $140 to $1.56 which wiped 98% of his paper net worth.
Although the price of the stocks had declined, Naveen convinced the world that the market share of his company would be greater than that of Microsoft, Cisco and Intel combined. He had earlier sold $80 million worth of his shares for a much lower price.
InfoSpace used an accounting method to claim that it had $46 million in profits even though it had lost $282 million.
Intelius's revenue growth was $18.1 million in 2004 and became $88.5 million by 2007, earning over $22.5 million in profits.
Naveen was ordered by the court to pay $247 million for violations in short-swing trading rules. However the money was reduced, and he was made to pay $107 million.
Before starting his company, Naveen Jain worked at Microsoft and has worked on operating systems like MS-DOS, Windows NT and Windows 95.
He founded InfoSpace in 1996 with just 6 employees who previously worked at Microsoft. Jain's company provides content and services related to the stock market.
The Indian entrepreneur then founded Intelius, a company that collected information of individuals, in 2003. He is also the founder of Moon Express where he currently serves as the Executive Chairman and Viome, where he is the Chief Executive Officer.
Naveen's Previous Possessions
Jain and his wife bought a 1.3 acre Medina estate for $13 million which housed a mansion of 16,500 sq ft. He also bought another house in Mercer Island for $8 million from Jean-Remy Facq.
He was born to Indian parents as Naveen Kumar Jain on 6th September 1959 in New Delhi, India. He is of Indian nationality and his ethnicity is South Asian.
He received his engineering degree from the Indian Institute of Technology, Roorkee in 1979. Jain also studied at the XLRI - Xavier School of Management.
60-years-old Naveen is a married man and has three kids with whom he resides in Seattle.