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What is Manoj Bhargava’s Net Worth?
Manoj Bhargava is an Indian-American billionaire businessman who has a net worth of $500 million. Around 2012/2013, Manoj Bhargava reached billionaire status on paper. He finally dropped out of the billionaire ranks.
Manoj Bhargava is the founder and CEO of Innovations Ventures (commerce title Living Essentials), the corporate that produces the 5-hour Energy drink complement. By 2012, the model had grown to an estimated $1 billion in retail gross sales. Among his myriad of different ventures, Bhargava launched the water purification enterprise Hans Power and Water, and helped James Housler launch the upscale monetary consulting agency Cypress Capital.
Early Life and Education
Manoj Bhargava was born in 1953 in Lucknow, Uttar Pradesh, India. As a youngster in 1967, he moved together with his family to the United States, settling in Philadelphia, Pennsylvania. There, Bhargava’s father pursued a doctoral diploma on the Wharton School of the University of Pennsylvania. Meanwhile, Bhargava went to the distinguished Hill School on a math scholarship. For his increased schooling, he attended Princeton University for a yr in 1972 earlier than dropping out.
Career Beginnings
After dropping out of college, Bhargava returned to India and spent the subsequent 12 years visiting monasteries owned by the Hanslok Ashram. During this time period, he made cash by working numerous workplace and development jobs, each in India and the US. Eventually, Bhargava joined his dad and mom’ plastic injection manufacturing firm Bhar Incorporated, situated in New Haven, Indiana. In 1990, he bought an organization that made components for out of doors furnishings.
5-hour Energy
Bhargava made his fortune because of his 5-hour Energy drink complement, which is made by his firm Innovations Ventures (buying and selling title Living Essentials). He is the CEO of the corporate, which he based in 2004. The 5-hour Energy drink incorporates such energetic components as vitamin B6, folic acid, glucuronolactone, and caffeine. It just isn’t accredited by the FDA. By 2012, retail gross sales of the product had grown to an estimated $1 billion.
The 5-hour Energy drink, in addition to its mum or dad firm, have been concerned in numerous authorized points over time. In 2017, Living Essentials was discovered answerable for misleading practices beneath the Consumer Protection Act within the state of Washington. The firm was ordered to pay $4.3 million for misleadingly stating that docs really helpful 5-hour Energy and that the product was superior to espresso, amongst different statements.
(Photo by Saumya Khandelwal/Hindustan Times through Getty Images)
Other Ventures
Bhargava has launched a number of further entities and funds over time to help new ventures. Among them are the enterprise capital firm MicroDose Life Sciences; the manufacturing enterprise laboratory Stage 2 Innovations; the non-public fairness fund ETC Capital; the holding firm Plymouth Real Estate Holdings; and the upscale monetary advisory agency Cypress Capital, which provides a spread of consulting companies to rich purchasers in Michigan and past. Bhargava additionally financed the founding of the New York City-based movie distribution firm Bleecker Street in 2014.
In early 2022, Bhargava bought 90% of Freelancer Television Broadcasting, together with the community NewsNet and the Michigan-based tv stations WMNN-LD and WXII-LD. The subsequent yr, he acquired a majority stake within the Arena Group, which owns a number of journal manufacturers. Bhargava additionally launched a sequence of recent hydration drink manufacturers, together with Cellular Hydration and Natural Glow Hydration, which use the reverse-osmosis know-how he beforehand honed together with his water purification enterprise Hans Power and Water. That enterprise, launched in 2019, seeks to resolve the world’s fresh-water scarcity by eradicating contaminants from water.
Philanthropy
Bhargava is a putative member of the Giving Pledge, by which he pledged to offer 99% of his wealth away to philanthropic causes throughout his lifetime. However, he advised Crain’s journal in 2021 that he was now not doing philanthropy as a part of the Giving Pledge, calling it “a bunch of hocus pocus.” Elsewhere, Bhargava is a supporter of the Hans Foundation and the Rural India Supporting Trust. In 2016, he introduced that he was going to distribute 10,000 stationary power-generating bikes to rural residences and villages in India.
Personal Life
With his spouse Sadhna, Bhargava has a son named Shaan. The family lives in Farmington Hills, Michigan.
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