Vikram Pandit was born in the state of Maharashtra, India, on 14 January 1957, in a small locality identified as Dhantoli. He is best known as the former chief executive of the company, Citigroup; the man was at the helm from December 2007 to October 2012. Currently, he serves as the chairman of TGG Group.
So, how much is Vikram Pandit worth? Authoritative sources estimate his net worth to be over $120 million, as of early 2017. Vikram famously grabbed headlines when he decided to take $1 salary in 2009; however, that only lasted for a year. In his first year at the company in 2007, his annualized compensation amounted to $3.1 million, however, in the same year he received $165 million upon the sale of his hedge fund to Citigroup. In 2008, he was able to accumulate a total compensation of $38.2 million, so during his five-year tenure at Citigroup, the man was able to amass around $221.5 million, so his net worth may be an underestimate!
Vikram Pandit Net Worth $120 million
Vikram Pandit was born into an upper class Marathi Karhade Brahmin family. His father, Shankar B. Pandit, worked as an executive director at Sarabhai Chemicals in Baroda. Growing up, Vikram was enrolled at the Bishop Cotton School in Nagpur, but eventually matriculated high-school from the Dadar Parsee Youths Assembly High School in Mumbai. When he reached 16, he migrated to the States, earning admission to the prestigious Columbia University. Three years later in 1976, Vikram graduated with his BSc degree in electrical engineering, and the following year, he earned his M.S in electrical engineering. Not content with his degrees, he turned to finance and business studies, subsequently earning a Ph.D. in finance from Columbia Business School in 1986.
Surprisingly, he began his professional journey as a professor at Columbia. He also enjoyed a short stint as a professor at Brock University in St. Catharines, Canada. In 1983, he was employed by Morgan Stanley as an associate, and over the next seven years Vikram rose through the ranks to become the managing director and head of the US Equity Syndicate unit of Morgan Stanley in 1990; it then took him four more years to become the company´s managing director.
However, his affair with the firm would come to an end in 2005, after which Vikram, with his friends John Havens and Guru Ramakrishnan, established the hedge fund, Old Lane LLC, in March 2006, which was soon bought by Citi in 2007, after which Vikram landed in the post of chairman and CEO of Citi Alternative Investments unit. The same year, Vikram reached the pinnacle moment of his professional career when he was appointed as the new CEO of Citigroup. The man served the company from December 2007 to 16th October 2012. Currently, he works as the chairman of TGG Group.
In his personal life, Vikram Pandit is married to Swati and they are parents to two children, Rahul and Maya. The man is already a naturalized citizen of the States. He currently lives with his family on the posh Upper West Side of Manhattan.
