From Rajiv Jain to Jayshree Ullal: How a new generation of H-1B immigrant billionaires is driving innovation in the US – The Times of India
The US has long been a hub for innovation, largely fueled by talented individuals from across the globe. In recent years, a new generation of immigrant billionaires, many of whom started their careers with H-1B visas, has risen to prominence. From the tech giants of Silicon Valley to the world of finance, these immigrant entrepreneurs have transformed industries and driven innovation that has reshaped the US economy.
Notable figures like Rajiv Jain and Jayshree Ullal stand out among the wave of H-1B visa holders who have become successful billionaires. Their stories reflect a broader trend where immigrants, using the H-1B visa program, have not only contributed to the American workforce but have also propelled the growth of some of the most influential companies in the US.
The power of H-1B visas in shaping tech empires
The H-1B visa program, designed to attract highly skilled workers from abroad, has been crucial for many of today’s tech moguls. For individuals like Rajiv Jain, born in India, the H-1B visa was an essential stepping stone in his rise to prominence. After moving to the US in the early 1990s, Jain pursued an MBA at the University of Miami before joining Vontobel Asset Management. In 2016, he co-founded GQG Partners, an asset management firm, which went public in 2021 with $153 billion in assets under management. As quoted by Forbes, Jain emphasized the importance of these programs in attracting global talent.
Similarly, Jayshree Ullal’s journey began with an H-1B visa after she moved to the US from London and New Delhi. A graduate of San Francisco State University, Ullal worked for multiple tech firms before becoming the CEO of Arista Networks. With a net worth of $4.7 billion, she has led Arista to become a major player in computer networking. As reported by Forbes, Ullal’s success highlights how the H-1B program has allowed talented individuals to thrive and drive innovation in tech.
Other success stories of H-1B visa holders
Beyond Jain and Ullal, there are several other immigrants whose fortunes have been tied to the H-1B visa. Eric Yuan, the founder of Zoom, initially struggled to secure his H-1B visa but eventually rose to fame, becoming a $5 billion CEO. Jeff Skoll, eBay’s first president, faced similar hurdles but ultimately became a billionaire. Thierry Cruanes, born in France, co-founded Snowflake, a cloud data storage giant, and oversaw its $3.9 billion IPO. Patrick Soon-Shiong, originally from South Africa, revolutionized cancer treatment with the drug Abraxane and later became a media mogul by purchasing the Los Angeles Times. Raj Sardana, who came to the US from India, founded IT services firm Innova Solutions, now valued at $2 billion.
As these immigrant billionaires continue to make waves in the US, their success underscores the importance of programs like the H-1B visa. These visa holders have not only filled critical skill gaps but have driven industries forward, reaffirming the US as a land of opportunity for talented individuals worldwide. As reported by Forbes, the continued success of these immigrants highlights the essential role they play in shaping the future of US innovation.
