Ajay Banga, man who brought KFC, Pizza Hut to India, earned Rs 52 lakh daily, set to lead World Bank

Former Mastercard CEO Ajay Banga is set to take charge as the new president of World Bank from June 2.  “The Board looks forward to working with Banga on the World Bank Group Evolution process,” World Bank said in a statement.

Ajay Banga’s education

Ajay Banga has completed his schooling from Hyderabad Public School and he has graduated from Delhi University. Ajay Banga is an IIM-A alumnus too. Ajay Banga was awarded the Padma Shri by Indian government in 2016.

Ajay Banga started his career in 1981with Nestle and he has worked at Pepsico too. Ajay Banga was once a part of Citigroup. Ajay Banga is considered by many as the man behind the launch of KFC and Pizza Hut in India.

Ajay Banga was appointed as President and CEO at MasterCard in 2010. In 2020, Ajay Banga took over as the Chairman of the International Chamber of Commerce (ICC).

Ajay Banga is currently the Vice Chairman at General Atlantic, a private equity company.

Ajay Banga’s net worth and salary

In 2021, Ajay Banga’s net worth was USD 206 million (Rs 17 billion), according to CNBS. Ajay Banga owns Mastercard stocks worth USD 113,123,489.

According to reports, Ajay Banga was getting a salary of USD 23,250,000 (Rs 1.92 billion) every year at Mastercard, which means he was earning Rs 5.2 million per day (Rs 52 lakh per day).

Ajay Banga’s family background

Ajay Banga’s father Harbhajan Banga was a Lieutenant General of the Indian army. His family is a native of Punjab's Jalandhar.