Rajat Gupta Rise to Prominence and Fall

Rajat Gupta's rise to prominence was nothing short of meteoric. He graduated from IIT Kharagpur in 1967 and then went on to earn an MBA from Harvard Business School in 1969.

Gupta's professional journey took off when he joined the consulting firm McKinsey & Company in 1969.

He quickly rose through the ranks, becoming the firm's first Indian-born partner in 1983.

Gupta's entrepreneurial spirit led him to co-found the private equity firm New Silk Route in 2006.

However, his fall from grace began in 2008 when he was accused of insider trading.

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Rajat Gupta was born in Calcutta, India, to a BengaliBaidya father Ashwini Gupta and a Punjabi mother Pran Kumari.

His father was a journalist for Ananda Publishers and a professor in Calcutta's Ripon College prior to that. His mother taught at a Montessori school.

Gupta has 3 siblings.

The family moved to New Delhi when Gupta was five, where his father went to start the Delhi-edition of the newspaper Hindustan Standard.

Gupta's father died when Gupta was sixteen and his mother died two years later.

He was a student at Modern School in New Delhi.

Gupta ranked 15th in the nation in the entrance exam for the Indian Institutes of Technology, IIT JEE.

He received a Bachelor of Technology degree in Mechanical Engineering from IIT Delhi in 1971.

Gupta graduated with distinction as a Baker Scholar from Harvard Business School in 1973.

Rajat Gupta joined McKinsey & Company in 1973, becoming one of the first Indian Americans to work at the company. A professor from Harvard Business School helped him get hired despite initially not being accepted due to lack of experience.

Gupta's career at McKinsey was marked by significant growth and expansion. He led the company's offices in Scandinavia in 1981 and did very well in the region. By 1990, he was leading the Chicago office.

As managing director, Gupta oversaw the firm's growth, doubling its number of consultants and increasing its income by 280 percent. He was re-elected twice, in 1997 and 2000, and was the first Indian-born CEO to lead a major global company.

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Rajat Gupta's career at McKinsey & Company was marked by several significant milestones. He joined the company in 1973 and was one of the first Indian Americans to work there.

Gupta's early success was largely due to the support of his mentor, Ron Daniel, who first hired him. Daniel also helped mentor other Indian-American colleagues, like Anil Kumar.

In 1981, Gupta moved to Scandinavia to lead McKinsey's offices there, where he did very well. He was promoted to senior partner in 1984.

By 1990, Gupta was leading the Chicago office, a position that marked a significant step up in his career. He was chosen to be the firm's first managing director (CEO) who was born outside the US in 1994.

During his time as head of McKinsey, the company grew significantly, opening offices in 23 new countries and doubling its number of consultants. Its income also grew by 280 percent.

Gupta's leadership was recognized, and he was re-elected as managing director twice, in 1997 and 2000. After nearly a decade as head of McKinsey, Gupta became a senior partner again in 2003.

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Gupta co-founded the Indian School of Business (ISB) in 1997 with friend and fellow senior partner Anil Kumar.

The school was ranked number 13 in the world by The Financial Times in its Global MBA Rankings 2011.

Before stepping down as managing director, Gupta co-founded Scandent Solutions with Ramesh Vangal and the American India Foundation with Victor Menezes and Lata Krishnan.

He also co-founded and chaired the private equity firm New Silk Route, formerly named Taj Capital Partners, with Parag Saxena and Victor Menezes.

In 2005, Gupta co-founded Voyager Capital with Raj Rajaratnam and Ravi Trehan, an investor via BroadStreet Group.

Gupta has served on several corporate boards as a director during his career, including the board of Procter & Gamble from 2007 until March 2011.

He was also a member of the board of investment bank Goldman Sachs from 2006 until the expiration of his term in 2010.

Gupta served as a non-executive chairman of Genpact from 2007 until March 2011, and on the board of AMR, the parent company of American Airlines, from 2008 until 2011.

He also served on the board of Harman International from 2009 to 2011, and on the board of Russian bank Sberbank.

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Rajat Gupta, a former chief of McKinsey & Co., was sentenced to two years in jail for insider trading.

He was also fined $5 million, which is a significant amount but still relatively light compared to the eight years prosecutors had requested.

Gupta's sentence was likely influenced by his campaign to convince the judge to show leniency, with notable figures like Bill Gates and Kofi Annan writing to the judge on his behalf.

However, this campaign ultimately failed to sway the judge, and Gupta will now spend his sentence in a "country club" prison.

It's worth noting that Gupta's net worth is estimated to be around $100 million, making him one of the wealthiest individuals to be convicted of insider trading.

Gupta's case is part of a larger trend of insider trading convictions, with 70 executives having been convicted in recent years.

The fact that Gupta was able to secure a relatively light sentence despite his wealth and influence raises questions about the fairness of the justice system.

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Rajat Gupta married Anita Mattoo, two years his junior, in 1973 after meeting at IIT Delhi. They had four daughters together.

Gupta's wife, Anita, was an electrical engineer and reportedly a "much smarter student" than him. They met at college debates and plays, and Anita came from Srinagar, Kashmir, India.

Gupta has been involved in various philanthropic efforts, including serving on the Rockefeller Foundation Board of Trustees. He was appointed to the board in 2006.

Here are some notable philanthropic efforts by Rajat Gupta:

Philanthropy is a vital part of a fulfilling personal life. It's a way to make a positive impact on the world and bring joy to oneself.

Research shows that people who engage in philanthropy tend to be happier and more satisfied with their lives. This is because giving to others can release endorphins, also known as "feel-good" hormones.

Philanthropy can take many forms, from volunteering to donating to charitable causes. In fact, a study found that volunteering for just 2 hours a week can increase overall well-being by 40%.

Giving to others can also help build stronger relationships and a sense of community. For example, participating in group volunteer activities can help people meet new friends and feel more connected to their community.

Philanthropy can also be a way to honor the memory of a loved one or to give back to a community that has given so much to us. Many people choose to donate to charities in memory of a loved one or to support a cause that they care deeply about.

By incorporating philanthropy into our lives, we can make a meaningful difference in the world and improve our own well-being in the process.

Rajat Gupta married Anita Mattoo, two years his junior, in 1973 after they met at IIT Delhi. She was an electrical engineer and according to him, "a much smarter student" than himself.

The couple met at college debates and plays. They have four daughters.

Rajat Gupta's wife, Anita Mattoo, is from Srinagar, Kashmir, India.

Here's a quick rundown of Rajat Gupta's family:

Rajat Gupta was found guilty of certain charges related to sharing confidential business information in 2012.

The case led to a two-year prison sentence and a fine for Gupta. He was also ordered to pay a fine.

Gupta's legal team appealed the decision, but it was upheld by a Federal Appeals Court in 2014.

He began his prison term in June 2014 and was released from federal prison in January 2016.

After his release, Rajat Gupta published his memoir, Mind Without Fear, in March 2019. He shared his side of the story about the legal case in the book and interviews.

Gupta explained that he didn't speak during his trial based on his lawyers' advice.