The World Bank has confirmed that Ajay Banga will be its next president. “The Board looks forward to working with Banga on the World Bank Group Evolution process,” the development lender wrote in a statement published shortly after executives voted to approve his leadership for a five-year term.
Ajay Banga’s education
Ajay Banga completed his schooling at Hyderabad Public School. He then went to Delhi University for his graduation. He is also an IIM-A alumnus. Joe Biden wants him to head either of the two top financial institutions of the world – the International Monetary Fund and the World Bank. In 2016, he was also awarded the Padma Shri by the Government of India.
Ajay Banga’s career
Ajay Banga started his career with Nestle in 1981 and then worked at Pepsico. He was also a part of Citigroup.
In 2010, Ajay Banga was appointed as President and CEO at MasterCard. He was also a member of the Board of Directors. In 2020, he took over as the Chairman of the International Chamber of Commerce (ICC).
Currently, he serves as Vice Chairman at General Atlantic, a private equity company.
Ajay Banga’s net worth and salary
In 2021, Ajay Banga’s net worth was $206 million (Rs 17 billion), CNBS reported. He owns Mastercard stocks worth $113,123,489.
As per reports, Ajay Banga was taking home a salary of $23,250,000 (Rs 1.92 billion) every year at Mastercard, which means he was earning Rs 5.2 million per day.
