Naveen Jain Net Worth – $150 million
What is Naveen Jain’s net worth?
Introduction
Naveen Jain is an immigrant from India who is best known as the co-founder and Chairman of the tech giant Infospace.
Jain has been associated with several high-profile tech companies that flourished before the dot.com tech bubble burst.
As an entrepreneur, he took advantage of his engineering degree and entrepreneurial spirit to start several different companies over her business career.
Unfortunately, Naveen’s had some controversy and ran into some legal battles involving his company Infospace.
The Origin Story
Naveen Jain is an immigrant from India who was born on September 6th, 1959, in New Dehli, India and lived in villages in Uttar Pradesh in India.
Naveen later moved to Roorkee in Northern India. This is where he finished his primary education and also attended university in Roorkee.
After graduating from high school, Roorkee he on to attend the Indian Institute of Technology.
His college education was the beginning of really big things for Naveen Jain in his life.
After the family moved to Roorkee, Jain received his engineer degree from the Indian Institute of Technology.
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Jain also earned an MBA from XLRI School of Business and Human Resources.
After receiving his degree, he moved to the United States to pursue his fortune.
He sought out people like Bill Gates of Microsoft in order to emulate them in hopes of being as successful.
As a matter of fact, he eventually ended up work at Microsoft when he relocated to the Seattle, Washington area.
Burroughs
Just out of college, he took his first job at a company called Burroughs in New Jersey in 1983.
The company today is known as Unisys and still is in business.
Six years later, Jain moved out to California seeking warmer weather.
He settled in and starting working in Silicon Valley for several different startups.
Microsoft
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He later left Silicon Valley and ended up in Seattle, Washington, and started working at a little place called Microsoft.
He ended up leaving after 8-years when he felt that he was not making a big enough difference in many people’s lives.
In 1996 he founded InfoSpace and got started building a wildly successful business with just six employees at the time.
Unfortunately, Infospace got hit by the dot.com crash, and when the stock price plummeted to under $2 a share from well over $120 per share.
That cost Jain a major part of his $8 billion net worth at the time. However, that was not the end of his success, and he would recover, and he and his family would survive.
In the aftermath of the dot.com bubble bursting, Jain went back to his entrepreneur roots and started several companies with varying degrees of success.
He did end up selling some of them for a tidy profit.
He does still run to current businesses that are hugely successful, Moon Express and Bluedot.
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Wife
Naveen Jain is a devoted family man, he and his wife Anu have been married since 1988. Over the years, they have grown their family to include three grown children, Anku, Neil, and Priyanka.
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They currently live in the city of Medina, Washington, just north of Seattle.
Naveen Jain – Net Worth
So, how much is Naveen Jain worth? Jain’s financial numbers are staggering but it depends on which part of his life you are looking at.
During the dot.com era, his net worth climbed to the stratosphere.
Before the demise of Infospace stock, Jain had an incredible net worth of $8 billion. However, that came crashing down when Infospace lost nearly all of its value.
Today, Jain has founded and runs several new companies that have been flourishing, and his net worth is much lower, but he and his family live quite comfortably.
He currently runs two very successful, but very different companies, Moon Express and Bluedot. ”If there are a billion people whose lives are going to be better, then you have a massive market,” Jain told Inc.
Therefore, Naveen Jain has an estimated net worth of $150 million.
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House
Naveen Jain’s ended up at Microsoft for 8 years after leaving Silicon Valley, CA.
He and his wife fell in love with the area around Lake Washington, where many of the Microsoft millionaires lived.
They were not able to find exactly what they wanted and looked elsewhere.
They ended up finding the perfect home in Medina, Washington, and it was massive.
It is an estate called Diamanti, which is Greek for diamond. The 16,500-square-foot mansion sits on a 1.3-acre property.
It boasts a two-story garage with an all-glass wall that allows them to overlook their huge collection of cars.
With a purchase price of $13 million, it is luxury personified. There is also a heated pool which is covered by a full glass atrium, which means they can swim year-round.
Therefore, Indian-American business executive Naveen Jain has an estimated net worth of $150 million.
However, this is nothing compared to what his net worth was before the dot.com bubble burst, and Infospace stock tanked. But, that didn’t stop the serial entrepreneur.
Naveen got right back up and started fighting again and started, built, and grew several more companies over the years. ”When I start new companies, I always start with why,” Naveen revealed in an interview with Startups.
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