Sachin Bansal is a 38 year old Indian entrepreneur and investor. He is most widely known to be the founder of the Indian e-commerce giant Flipkart along with Binny Bansal (not related).
In this article, you will learn about Sachin Bansal income, earnings, salary, early life and other information.
Sachin Bansal Life
Sachin Bansal was born on August 5th, 1981 in Chandigarh in India. His mother is a house wife and his father is a businessman. Bansal attended the Indian Institute of Technology, Delhi and pursued a Bachelors of Technology degree in Computer Science from where he graduated in 2005.
He is an ardent gamer and even contemplated leaving engineering to pursue a career in gaming. He joined Techspan for a bit after graduating and then joined Amazon Web Services as a Senior Software Engineer in 2006. In 2007, he quit Amazon to start Flipkart.
In October 2007, Sachin and Binny Bansal started an online bookstore and named it Flipkart with an initial investment of Rs. 4 lakhs which they gave from their own savings. That book store started growing and grew to what is now the giant that is Flipkart. They operated out of an apartment at Koramangala, Bangalore in the initial stages of the company.
Sachin oversaw all business details, including sourcing books, designing the first look of their website to packing and delivering books. Bansal was the Chief Executive Officer (CEO) of the company from start till 2016, after which he became Executive Chairman till he left the company in 2018.
In 2018, US retail giant bought a 77% stake in Flipkart for 16 billion dollars, after which Bansal sold his minority stake in the company for 1 billion dollars to Walmart, signed a non compete clause of 18 months and left the company. He is married to Priya Bansal who is a dentist by profession and the couple have a son.
SACHIN BANSAL INCOME 2020: RS 7 CRORES
Sachin Bansal Income
Sachin Bansal income comes from the selling of his Flipkart stake to Walmart. He held a 5.5 per cent stake in Flipkart, which was worth over a billion dollars.
Sachin Bansal earnings during his stay at Flipkart was also a lot. Both him and Binny got salaries between Rs. 5 crores to 10 crores depending on bonuses and share returns during his stay at Flipkart.
Bansal has since focused on investing in different companies with his riches from Flipkart. In February 2019, he invested 100 million dollars in Ola, the company of fellow entrepreneur Bhavish Aggarwal. He received 70000+ shares of Ola. He also invested in many companies like Ather Energy, where he invested 32 million dollars, scooter rental companies Vogo and Bounce, where he invested 3 million dollars each, Inshorts, Unacademy and TeamIndus.
He also invested Rs 200 crores in Piramal Enterprises and Rs. 250 crores each in non banking financial companies, Altico Capital and IndoStar.
Sachin Bansal net worth is currently a little over a billion dollars.
Sachin Bansal House and Cars
Sachin Bansal houses include the house he already currently stays at in Koramangala in Bangalore. After leaving Flipkart, he bought two more properties in Koramangala worth Rs. 45 crores. These two properties are of 5000 square feet and 5800 square feet respectively.
Sachin Bansal cars include a Toyota Innova which he has been seen driving to office. He also has other cars but is not publicly seen with it. He’s also known to use cab rides like Ola and Uber frequently.
We will update this article with more information as soon as we get to know anything about it.
Since leaving Flipkart, Bansal has started BAC Acquisitions Private Limited in December 2018 with an investment banker, which focuses on acquiring and investing in technology driven companies where he is the Chief Executive Officer. It is through this company that he has invested in different startups across the country.
Bansal has said he wants to brush up on his coding skills, focus on gaming and his personal projects after his Flipkart exit. He is an avid gamer and has grown up with playing Age of Empires and Quake III.
Bansal’s contribution to the Indian startup culture is immense and it has often been recognized by many different entrepreneurs. He was awarded the Entrepreneur of the Year award by Economic Times in 2013, he was named by TIME Magazine as one of the 100 most influential people of the world in 2016 along with Binny Bansal, he was listed by Forbes Magazine as the 86th richest Indian in its list in 2015 and he and Binny were named in the 50 most powerful people in India list by India Today in 2017.
Sachin Bansal is one of the shining beacons of the Indian entrepreneurial scene. His legacy has inspired many and he is an ideal role model for the youth, who pursued his entrepreneurial dreams by quitting on a high paying job. We wish him all the best for his future endeavours.