Raj Rajaratnam: Difference between revisions
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DEMINING IN SRI LANKA|url= http://www.slembassyusa.org/press_releases/winter_2003/US_donors_six_mine_21jan04.html}}</ref>. He helped Sri Lankans recover after the 2004 Tsunami.<ref>{{cite news |first= |last= |title=Helping Out the Homeland|url= http://www.tsunamireliefinc.org/press3.html}}</ref>. |
DEMINING IN SRI LANKA|url= http://www.slembassyusa.org/press_releases/winter_2003/US_donors_six_mine_21jan04.html}}</ref>. He helped Sri Lankans recover after the 2004 Tsunami.<ref>{{cite news |first= |last= |title=Helping Out the Homeland|url= http://www.tsunamireliefinc.org/press3.html}}</ref>. |
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The FEC said he made over $87,000 in contributions to President Barack Obama's campaign.<ref>{{cite news |first= |last= |title=Billionaire among 6 nabbed in inside trading case |url=http://finance.yahoo.com/news/Billionaire-among-6-nabbed-in-apf-2808194948.html?x=0}}</ref> |
The FEC said he made over $87,000 in contributions to President Barack Obama's campaign.<ref>{{cite news |first= |last= |title=Billionaire among 6 nabbed in inside trading case |url=http://finance.yahoo.com/news/Billionaire-among-6-nabbed-in-apf-2808194948.html?x=0}}</ref> |
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==Insider trading== |
==Insider trading== |
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Revision as of 05:03, 17 October 2009
Raj Rajaratnam | |
|---|---|
| Born | 1957 |
| Occupation(s) | Entrepreneur, President |
Raj Rajaratnam is the founder of Galleon Group .[1] He was born in Sri Lanka and attended one of the most prestigious schools on the Island named St Thomas' College, Mt. Lavinia,[2] then studied engineering at the University of Sussex in England. Rajaratnam moved to the United States in 1981 and earned an M.B.A. from Wharton School of the University of Pennsylvania two years later.
Rajaratnam started his career as an analyst at the investment banking boutique Needham & Co. where his focus was on electronics. He was promoted to president 1991 and launched Galleon six years later. Initially invested in technology stocks, he says his best ideas come from frequent visits with companies and conversations with executives who invest in his fund.
Rajaratnam, a Tamil self-made billionaire hedge fund manager, is the 236th richest American according to Forbes Magazine (2009).[3] He was ranked 262nd richest American in 2008[4] and as of early 2009, is the richest Sri Lankan-born person in the world. As of 2009, Galleon Group's Titan Fund has thus far returned 20%, outperforming the Nasdaq by 33%. Forbes magazine has featured Mr Rajaratnam on one of its rich lists and estimated that he was worth $1.3bn.
Contributions to Charitable and Political Organizations
Rajaratnam has made more than $20 million in charitable donations in the last five years. In September 2009, Rajaratnam pledged to donate a million US dollars to help with the rehabilitation of former LTTE combatants.[5] He has donated generously to clear land mines in the war-affected areas in Sri Lanka. He recalled his visits to the mine-impacted areas of Sri Lanka and underscored the humanitarian toll that mines have taken. Recalling his encounter with a young child in Kilinochchi who had lost both legs to a landmine, Rajaratnam stated that this particular image that is etched in his memory “made it an easy decision to write the check.”[6]. He helped Sri Lankans recover after the 2004 Tsunami.[7].
The FEC said he made over $87,000 in contributions to President Barack Obama's campaign.[8]
Insider trading
On Friday October 16th, 2009, Raj Rajaratnam was arrested by the FBI and accused of conspiring with others to trade based on insider information about several publicly traded companies, including Google Inc. U.S. Attorney Preet Bharara, putting total profits in the scheme at $20.6 million, told a news conference it was the largest hedge fund case ever prosecuted and marked the first use of court-authorized wiretaps to capture conversations by suspects in an insider trading case. According to a criminal complaint filed in U.S. District Court in Manhattan, Rajaratnam obtained insider information and then caused the Galleon Technology Funds to execute trades that earned a profit of more than $12.7 million between January 2006 and July 2007. Other schemes garnered millions more, authorities say.[9]
See also
References
- ^ "#236 Raj Rajaratnam". Forbes. Retrieved 2009-02-19.
- ^ "Raj Rajaratnam's million dollars – A fine starting point". Sunday Island.
- ^ "#236 Raj Rajaratnam - The Forbes 400 Richest Americans 2009". Forbes. Retrieved 2009-02-19.
- ^ "#262 Raj Rajaratnam". Forbes. Retrieved 2009-02-19.
- ^ "Raj Rajaratnam's million dollars – A fine starting point".
- ^ "U.S. CORPORATE AND PRIVATE DONORS CONTRIBUTE $ 120,000 FUNDING SIX MINE DETECTION DOGS FOR HUMANITARIAN DEMINING IN SRI LANKA".
{{cite news}}: line feed character in|title=at position 104 (help) - ^ "Helping Out the Homeland".
- ^ "Billionaire among 6 nabbed in inside trading case".
- ^ "Galleon's Rajaratnam, Others Charged In Insider Case". Wall Street Journal. Retrieved 2009-10-16.
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