Rishi Shah Age, Family, Biography
Rishi Shah Age, Family, Biography
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Father: Upendra Shah
Hometown: Illinois, US
Age: 38 Years
| Bio/Wiki | |
|---|---|
| Full Name | Rishi Upendra Shah |
| Profession | Businessman |
| Physical Stats | |
| Eye Colour | Black |
| Hair Colour | Black |
| Career | |
| Achievement | Listed in 40-Under-40 by Crain’s Chicago Business (2009) |
| Personal Life | |
| Date of Birth | Year, 1986 |
| Age (as of 2024) | 38 Years |
| Birthplace | Oak Brook, Illinois, US |
| Nationality | American |
| Hometown | Illinois, US |
| School | Hinsdale Central High School, Hinsdale, Illinois |
| College/University | Northwestern University, Evanston, Illinois |
| Educational Qualification | A college dropout. (2005-2008) |
| Controversy | Convicted In A Fraud Case In November 2019, Shah and his coworkers were charged for their involvement in a fraud scheme in which they targeted the company’s clients, lenders, and investors including Goldman Sachs Group Inc., Google parent Alphabet Inc., and Illinois Governor JB Pritzker's venture capital firm. The scheme involved around $1 billion in fraudulently obtained funds. On 11 April 2023, Shah, Shradha Agarwal , and Brad Purdy were found guilty of multiple frauds. After that, he was convicted of five mail frauds, ten internet frauds, two bank frauds, and two money laundering cases. On 2 July 2024, Rishi Shah was sentenced to 7.5 years in prison. check sources The Economic Times |
| Social Media | • Twitter • LinkedIn |
| Family | |
| Parents | Father- Upendra Shah (endocrinologist) Mother- Sonal Shah (doctor)  |
| Siblings | Sister- Shree Shah (younger) |
| Money Factor | |
| Net Worth (approx.) | $4 billion (as of 2016) |
Some Lesser Known Facts About Rishi Shah
His parents are doctors who emigrated from India.
In 2005, he was a research student of Economics at Harvard University in Cambridge, Massachusetts.
In 2006, Rishi Shah, along with his two classmates, Derek Moeller and Shradha Agarwal , at Northwestern University, developed a business plan.
Soon, they founded a company named ‘ContextMedia Health.’ The company installed screens and tablets in doctors’ offices across the U.S. and sold ad space to pharmaceutical companies.
Rishi Shah then began working as the CEO of the company. Under his leadership, Context Media’s revenues grew 2,965% from 2010 to 2015.
In 2011, he began working as the Managing Director of JumpStart Ventures in Chicago.
The growing revenues made ‘ContextMedia Health’ the 6th fastest-growing private company in Chicago in 2016.
Within 10 years of the establishment of his business venture, Rishi became a billionaire.
Rishi Shah during one of his business meetings
The idea for his company was inspired by his sister. In a media interview, he once mentioned that his sister had type 1 diabetes.
In 2017, ‘ContextMedia Health’ was renamed as Outcome Health.
In May 2017, Outcome Health raised over $500 million from investors including Goldman Sachs, CapitalG, and Pritzker Group.
In November 2017, investors sued Outcome Health, Shah, and Shradha Agarwal for fraud and breach of contract after a Wall Street Journal investigation claimed that the company misled advertisers.
In January 2018, Outcome Health settled the case and founders reinvested $159 million of their $225 million dividends back into the company.
As part of the settlement, Rishi Shah resigned as Chairman and CEO of Outcome Health.
He serves on the Board of Directors of various corporate ventures such as the Young Presidents Organization (YPO), 1871, MATTER, Chicagoland Chamber of Commerce, and the Institute for Student Business Education at Northwestern University.
He is a mentor at Excelerate Labs, a technology startup incubator in Chicago.
Rishi Shah is often invited to various renowned business organisations to deliver speeches on new business ideas.
Rishi Shah while delivering a speech
He is an active member of the Executives Club of Chicago, the Chicagoland Entrepreneurial Center, and the Illinois Technology Association.
Rishi Shah is a former founder of the Northwestern Business Review, a publication from Northwestern University that is distributed to over 60 leading campuses nationwide.
Once, he started a home computer consulting firm. Later, the clients of the company were acquired by Best Buy.
Rishi Shah has also founded several non-profit initiatives which focus on youth, education, and media. One of these initiatives includes the Urban-Suburban Domestic Exchange Initiative, a program supported by the Gates Foundation to promote interaction between different schools.
He is inspired by the Chicago Bulls, ancient Indian philosophy, and modern media.
Rishi Shah is often spotted enjoying alcoholic beverages on various occasions.
Rishi Shah while enjoying alcohol with his friends
He likes travelling to distant places and playing guitar in his free time.
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