An IITian and the founder of a Pune-based tech enterprise is India's newest billionaire

Pune-based tech Enterprise

According to Forbes' real-time billionaires database, Persistent Programs' Anand Deshpande has joined the select club of billionaires, with an estimated net worth of $1.1 billion. Deshpande's new billionaire status follows a significant increase in Persistent Programs shares earlier this year. To this point in 2021, inventories have increased by more than 130 % (year-to-date).Since its start,

Anand Deshpande has been the Founder, Chairman, and Managing Director of Persistent Programs, and is responsible for the company's overall management, strategy, and administration. Within the agency, Deshpande owns a 29.29% stake.Persistent Programs provides digital engineering, data, and synthetic intelligence products to the software, banking, financial services, and healthcare industries. Nearly 80% of the agency's annual revenue originates from the United States,

With the remainder coming from Europe and India.Anand holds a B. Tech. (Hons.) in Laptop Science and Engineering from the Indian Institute of Expertise (IIT), Kharagpur, and a M.S. and a Ph.D. in Laptop Science from Indiana College, Bloomington, Indiana, USA.According to Forbes, he put together a database company called Persistent Programs in Pune with around $21,000 in his savings and loans from his father and acquaintances.

Anand began his professional career at Hewlett-Packard Laboratories in Palo Alto, California, where he worked as a Member of Technical Workers from 1989 to October 1990 before creating Persistent Programs.Deshpande has additionally served quite a few positions at numerous skilled and non-profit organizations viz. NASSCOM’s Govt Council, ACM (Affiliation for Computing Equipment) India, the place he was the primary President, SEAP (Software program Exporters’ Affiliation of Pune), Pune Chapter of CSI (Laptop Society of India), CII’s Pune Zonal Council, Trustee within the Laptop Historical past Museum, Dean’s Advisory Council within the College of Informatics, Computing and Engineering of Indiana College, and Member of the Govt Committee of MCCIA.

Source: Mint

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