About Niraj Shah; CEO of Wayfair
Niraj S. Shah is an Indian-American billionaire businessman. He is famous for being the co-founder, co-chairman, and CEO of online retailer Wayfair. He started the business in 2002 with Steve Conine, a fellow billionaire. The two met as high school students at a program at Cornell University. The two founders ended up living in the same dorm during their freshman year at Cornell and became good friends. In their final semester of college, Conine and Shah both enrolled in a class on entrepreneurism, which sparked a business plan that turned into their first company. Now, he sells more than 10 million products. The company's net revenue in 2017 was $4.7 billion, up 40% from the previous year. In the year 2017, he joined the board of the Federal Reserve Bank of Boston. Wayfair human trafficking conspiracy theory/trafficking scandal has everyone thinking that the company's current (2020) CEO Niraj Shah has resigned/stepped down from the job. Wayfair became the subject of a conspiracy theory after its name started trending on social media on July 10 morning. The uncorroborated theory first started floating on Reddit's "r/conspiracy" subreddit forum a day before. As per claims being made on the Internet, many believe that the home goods company is selling "missing children" as the cabinets or the "large boxes" looked like the same product and had different names, which are allegedly mostly of girls, and particularly of missing children. Later, Wayfair refuted the claim in a press release: "There is, of course, no truth to these claims. The products in question are industrial grade cabinets that are accurately priced. Recognizing that the photos and descriptions provided by the supplier did not adequately explain the high price point, we have temporarily removed the products from the site to rename them and to provide a more in-depth description and photos that accurately depict the product to clarify the price point." In the year 1974, Niraj Shah was born in India. He grew up in Pittsfield, Massachusetts, the son of immigrants from India. His nationality is Indian-American and his ethnicity is Asian and his race is White. As of 2020, he celebrated his 46th birthday. Regarding his father's occupation, his father worked for General Electric as a mechanical engineer, and after his retirement, joined Wayfair early on, providing financial advice, and still works for the company. His grandfather ran "steel manufacturing business in India, making pots and pans". As per his education, he was graduated from Cornell University, where he earned a bachelor's degree in engineering in 1995. As a child, he was an entrepreneur as he explained that his family shaped his views of owning businesses and taking risks from a very early age. Scroll down to get full information regarding his full biography which includes his career, wife, net worth, family details, birthday, facts, wiki, age, height, and more.
Source: @bizjournals.com
Everything To Know About Steve Conine
Niraj Shah's Wayfair Career
- An Indian Billionaire businessman, Niraj Shah co-founded Wayfair in the year 2002 along with his Cornell classmate, Steve Conine, and has been its CEO since its inception.
- In August 2002, Niraj launched his first online business, racksandstands.com. In December 2002, the company had made about $250,000 in sales and grew to be one of the largest online sellers of entertainment furniture.
- In 2013, he was even included in the Fortune list of "40 under 40".
- Additionally, he became a director of the Federal Reserve Bank of Boston.
- His share price rose above $70 per share, making Shah and his co-founder Steve Conine both billionaires as of May 2017.
- As of 2019, each had an estimated net worth of $2.3 billion whereas he has the net worth of $2 Billion as of May 2020.
Niraj Shah's Wife, Jill Shah
Talking about the marital status of Niraj Shah, he is a married man. He was married to his beautiful wife, Jill Shah. They are also the proud parents of two children. At present, the duo is residing in the Back Bay area of Boston. He enjoys long walks on the beach (house). In the year 2013, his wife, Jill sold her alternative medicine directory Jill's List, which employed 7 people, to California-based MINDBODY, and now runs their Boston office. The duo also founded the Shah Family Foundation to support local education and healthcare programs. "Jill drives the family foundation's efforts, but those are the areas we're both really passionate about public education, health care-ideally projects that are getting to the core of the problem versus just treating the symptom," said Niraj in an interview with The Boston Foundation. The duo is enjoying their life a lot without any disturbances. His sexual orientation is straight and he is not gay.
Source: @insidephilanthropy.com
Net Worth of Niraj Shah (2020)
Niraj Shah is an Indian-American billionaire businessman, the co-founder, co-chairman, and CEO of online retailer Wayfair. As of May 2020, the net worth of Niraj Shah is believed to have $2 Billion. As of May 2019, his net worth is estimated to have $2.3 Million. Starting his career from the year 2002, he surely must have accumulated a huge amount of money. His major source of wealth is from online business. At present, he is living a luxurious lifestyle from his earnings.
