Rajat Gupta Indian-American businessman Date of Birth: 02.02.1948 Country: USA

1. Biography of Rajat Gupta
2. Early Life and Education
3. Personal Life
4. Career at McKinsey & Company
5. Legal Troubles

Biography of Rajat Gupta

Rajat Gupta is an Indian-American businessman, former managing director of the consulting group 'McKinsey & Company', and one of the most prominent entrepreneurs in India and the United States.

Early Life and Education

Rajat Gupta was born in Kolkata, India, to Pran Kumari Gupta and Ashwini Kumar Gupta. His father was a journalist and an active freedom fighter who even spent time in prison for his struggle for national independence. Rajat's mother was a teacher. When Rajat was only 5 years old, his family moved to New Delhi. His father passed away when he was 16, and two years later, his mother also passed away. Rajat and his siblings had to quickly learn to live independently. He studied at Modern School, New Delhi, and after completing high school, he successfully passed the entrance exams for the Indian Institutes of Technology. Rajat ranked 15th among the top students in the country. In 1971, he earned a bachelor's degree in mechanical engineering. Despite receiving a lucrative job offer from the prestigious Indian company 'ITC Limited', Rajat decided to continue his studies. In 1973, he obtained a Master of Business Administration degree from Harvard Business School.

Personal Life

In 1973, Rajat Gupta married Anita Mattoo, whom he had met during his time at the Indian Institutes of Technology. They have four sons together.

Career at McKinsey & Company

In 1973, Rajat Gupta joined 'McKinsey & Company' as one of the first Indian consultants. Initially, he was rejected due to his lack of work experience, but one of his professors, Walter Salmon, helped him secure the desired job. After spending some time in New York, Gupta was transferred to Scandinavia, an area that was previously considered unpromising. However, he excelled in this role, impressing the company's executives and confirming Salmon's recommendation. In 1984, Rajat became a senior partner at McKinsey & Company. He served as the head of the Chicago office in 1990 and became the first non-American CEO of the firm in 1994. He was re-elected as CEO in 1997 and 2000.

Legal Troubles

On March 1, 2011, the United States Securities and Exchange Commission (SEC) filed a lawsuit against Rajat Gupta, accusing him of insider trading. This case gained significant attention as another Indian businessman, Anil Kumar, who also worked at McKinsey & Company, had already pleaded guilty to similar charges. The scandal also involved billionaire and founder of 'Galleon Group', Raj Rajaratnam, who was believed to have received information from Gupta. Gupta's trial began on May 21, 2012, and on June 15, 2012, he was found guilty of three counts of securities fraud and one count of conspiracy. He was acquitted of two additional charges of fraud. Many consider this verdict as one of the major successes for U.S. authorities in their pursuit of individuals involved in illegal insider trading. Raj Rajaratnam was also found guilty and sentenced to 11 years in prison.