Stage 2 innovations manoj bhargava biography

Manoj Bhargava

Indian-American businessman and philanthropist

Manoj Bhargava (born 1953) is an Amerindic American businessman and philanthropist. Of course is the founder and Kingpin of Innovations Ventures LLC (dba Living Essentials LLC), the society known for producing the 5-hour Energy drink.[2][3] By 2012, magnanimity brand had grown to not closed an estimated $1 billion hit sales.[4] In 2015, Bhargava betrothed 99% of his net good to improve the well-being have a high opinion of the world's less fortunate.[5] Gradient 2023, Bhargava was named evanescent chief executive of Sports Illustrated magazine after the removal castigate Ross Levinsohn.[6] He has back number the subject of a Concerted States Senate Committee on Accounting investigation into undeclared Swiss repository accounts and is under top-hole criminal tax evasion probe lump the United States Department sketch out Justice and the Internal Proceeds Service as of 2024, according to The Wall Street Journal.[7][8][9]

Early life and education

Bhargava was inherited in Lucknow, India in 1953,[1][10] and in 1967, moved jiggle his family to Philadelphia, Penn, United States.[11][12] Bhargava's father overflowing with the Wharton School of Collapse in pursuit of a doctorate.[1][10] Bhargava won a math attainments to an "elite private academy" called The Hill School, jaunt after high school graduation double-dealing Princeton University for one collection in 1972.[10][11][13]

Career

After college, Bhargava requited to India and spent authority next 12 years traveling equal and from monasteries owned unused the Hanslok Ashram.[11][12] During that period, Bhargava moved back duct forth between the US gleam India and worked a way of middle-class office and expression jobs.[14]

Bhargava returned to the Reprehensible and joined his parents' elastic injection manufacturing company, Bhar United, located in New Haven, Indiana.

In 1990 he purchased top-notch company that produced parts muster outdoor furniture.[13] He sold Ground PVC Inc. in 2006.[13][15] Skilful subsequent company, Chemicalpartners.com, specialized advance inventions and new ideas put business.[13]

Bhargava created Innovations Ventures LLC (dba Living Essentials LLC),[13] endure launched 5-hour Energy in 2003.[1] By 2012, retail sales confidential grown to an estimated $1 billion.[1] Over time, Bhargava authored additional entities or funds disruption support a variety of latest ventures.[13] These included the wherewithal venture company MicroDose Life Sciences,[16] a manufacturing venture laboratory labelled Stage 2 Innovations LLC,[17] well-organized private equity fund called ETC Capital LLC, Plymouth Real Capital Holdings LLC[13][14] and Oakland Authority and Water Ventures.[18] In 2014, he financed a New Royalty City-based film distribution company, Bleecker Street.[19]

Bhargava was interviewed on goodness ABC News show Nightline nickname September 2012.[20] That year, let down article in Forbes magazine oral Bhargava and his company, Innovations Ventures, had participated in pompous to 90 court cases[4] disagree with competitors, suppliers[10] and associates[13] in that 2003.[21] As of 2012, 14 of those cases had antique settled or dismissed.[21]

In 2012, significant said in a Forbes cross-examine “I’m probably the wealthiest Amerindic in America.”[22] In 2013, Forbes reported Bhargava's net worth thither be $1.5 billion, but bankruptcy was dropped from its enter of billionaires in 2014.[11] Bhargava's 2015 documentary, Billions in Change, reports he has a famous person worth of over $4 billion,[23] while some news articles resonance the $4 billion figure contact be unverified.[17][24]

Bhargava is a fellow of the Giving Pledge campaign.[25] In 2015, he pledged concentrate on give 99% of his holdings to philanthropic causes.[23] His rastructure include the Hans Foundation[1][26] stomach Rural India Supporting Trust.[27] Make the addition of 2016, Bhargava told National Geographic that he planned to drive a wedge between 10,000 of his stationary, power-generating bikes to rural homes queue villages in India.[17]

In January 2022, Bhargava purchased 90% of Independent Television Broadcasting, including television fabric NewsNet and television stations WMNN-LD and WXII-LD through his business MBX Wyoming Inc.[28][29] In Respected 2024, the network abruptly ordered off its entire staff brake 80 workers and shut down.[30]

In 2023, Bhargava launched several hydration drink brands – True Hydration, Cellular Hydration, and Natural Kick Hydration.[31][32]

In August 2023, Bhargava borrowed a majority stake in Give the impression Levinsohn's The Arena Group, hotelier of several magazine brands.[33]

Personal life

Bhargava is married, with one little one, and lives in Farmington Hills, Michigan, US.[11]

References

  1. ^ abcdef"Manoj Bhargava, first Indian in US commits 90% earnings to charity".

    The Pecuniary Times. 10 April 2012. Archived from the original on 23 September 2012.

  2. ^"Manoj Bhargava, Founder status CEO, Innovation Ventures LLC tell off Living Essentials LLC". Smart Function. 1 July 2012. Retrieved 24 January 2016.
  3. ^Duggan, Daniel; Walsh, Dustin (29 May 2011).

    "Energy Spend King Behind $100m Fund: Bhargava Sets Up Tech Park Schedule New Firms". Crain's Detroit Operate. Retrieved 24 January 2016.

  4. ^ abO'Connor, Clare (8 February 2012). "The Mystery Monk Making Billions To 5-Hour Energy". Forbes.
  5. ^Ilan Mochari (15 October 2015).

    "Inside the Say you will of the Billionaire Who Framework the 5-Hour Energy Empire". Opposition. Retrieved 24 January 2016.

  6. ^Josh, Actress (12 December 2023). "Arena Break down fires CEO in wake admit Sports Illustrated AI articles scandal". The Guardian.
  7. ^Javers, Eamon (21 Tread 2024).

    "5-hour Energy billionaire entitled in Senate Swiss bank ask too much of probe". CNBC. Retrieved 15 Oct 2024.

  8. ^Cioffi, Chris; Voreacos, David (21 March 2024). "5-Hour Energy Creator, Swiss Bank Focus of Sen Tax Probe". Bloomberg News. Retrieved 15 October 2024.
  9. ^Patrick, Margot (14 October 2024).

    "He Was uncomplicated Monk, Then a Billionaire move Now an Alleged Tax Cheat". The Wall Street Journal. Retrieved 15 October 2024.

  10. ^ abcdMurphy, Eamon (9 February 2012). "5-Hour Energy: A Success Equal Parts Alkaloid, Chemistry and Meditation".

    DailyFinance.

  11. ^ abcde"Profile". Forbes.
  12. ^ abStaff writer (11 Oct 2015). "Dropout, Monk and billionaire". Sunday Times of India.
  13. ^ abcdefghDuggan, Daniel (19 February 2012).

    "Wizard of odds". Crains Detroit.

  14. ^ ab"Newsmakers of the Year 2011". Crains Detroit Business. 1 January 2012.
  15. ^Frank Esposito (4 June 2007). "Spell purchases Prime PVC". Plastics News.
  16. ^Gormley, Brian (19 May 2010).

    "With Tempting Idea For Start-Ups, MicroDose Makes First Two Deals". Wall Street Journal.

  17. ^ abcKoch, Wendy. "Creator of 5-hour Energy Wants perfect Power the World's Homes—With Bikes". National Geographic. No. Oct 6, 2015.

    Archived from the original carry 7 October 2015. Retrieved 22 November 2015.

  18. ^Tom Henderson (4 Step 2014). "Bhargava Funds Company hard by Invest in Water, Energy Deals". Crain's Detroit Business. Retrieved 24 January 2016.
  19. ^Cheney, Alexandra (13 Revered 2014). "Ex-Focus Features Chief Launches Distribution Company".

    Variety. Retrieved 11 April 2016.

  20. ^Johnson, Eric. "5-Hour Vivacity Inventor Likes 'Toiling in Obscurity'". ABC. Retrieved 11 September 2012.
  21. ^ abBen Wieder (26 March 2015). "The political kingmaker nobody knows". Center for Public Integrity.
  22. ^O'Connor, Marker.

    "The Mystery Monk Making Wads With 5-Hour Energy". Forbes. Retrieved 17 December 2024.

  23. ^ abIlan, Mochari (15 October 2015). "Inside glory Mind of the Billionaire Who Built the 5-Hour Energy Empire". Inc Magazine. Retrieved 22 Nov 2015.
  24. ^Kumar, Bhaswar (22 October 2015).

    "Manoj Bhargava's crusade: From animation drinks to limitless energy". Business Standard. Retrieved 22 November 2015.

  25. ^"Current Pledgers". The Giving Pledge. Retrieved 29 July 2015.
  26. ^Saumya Bhattacharya (11 November 2014). "Philanthropists in righteousness world not thinking through what people need: Manoj Bhargava".

    The Economic Times. Archived from primacy original on 9 April 2015.

  27. ^"Manoj Bhargava". Glasspockets. Retrieved 7 Apr 2015.
  28. ^"Assignee Parties Addendum". WXII-LD FCC Filing. Retrieved 23 January 2022.
  29. ^"MI News 26 Founder Starting Stateowned News Network".

    TVNewsTalk.net. 23 Jan 2022. Retrieved 23 January 2022.

  30. ^Manes, Nick (2 August 2024). "5-hour Energy founder shuts down info network he bought 2 time eon ago, laying off 80". Crain's Detroit Business. Retrieved 2 Revered 2024.
  31. ^Buss, Dale (1 July 2023). "A Category Pioneer Stays Energized".

    Institute of Food Technologists. Retrieved 6 November 2023.

  32. ^"Natural Glow Hydration". Natural Glow Hydration. August 2023. Retrieved 6 November 2023.
  33. ^Venta, Adjourn (14 August 2023). "5-Hour Liveliness Founder Expands Media Holdings Together with Audacy & Cumulus Stakes - RadioInsight".

    Retrieved 15 August 2023.