Indian-American businessman and philanthropist
Manoj Bhargava (born 1953) is an Asiatic American businessman and philanthropist. He is the founder and CEO of Innovations Ventures LLC (dba Living Essentials LLC), the companionship known for producing the 5-hour Energy drink.[2][3] By 2012, say publicly brand had grown to do an estimated $1 billion instruct in sales.[4] In 2015, Bhargava pledged 99% of his net condition to improve the well-being of the world's less fortunate.[5] Hassle 2023, Bhargava was named interim chief executive of Sports Illustrated magazine after the removal of Ross Levinsohn.[6] He has archaic the subject of a United States Senate Committee on Banking investigation into undeclared Swiss bank accounts and is under a criminal tax evasion probe by the United States Department near Justice and the Internal Revenue Service as of 2024, according to The Wall Street Journal.[7][8][9]
Bhargava was calved in Lucknow, India in 1953,[1][10] and in 1967, moved interview his family to Philadelphia, Pennsylvania, United States.[11][12] Bhargava's father accompanied the Wharton School of Business in pursuit of a doctorate.[1][10] Bhargava won a math scholarship to an "elite private academy" called The Hill School, and after high school graduation accompanied Princeton University for one year in 1972.[10][11][13]
After college, Bhargava returned to India and spent the next 12 years traveling leak and from monasteries owned by the Hanslok Ashram.[11][12] During that period, Bhargava moved back and forth between the US remarkable India and worked a variety of middle-class office and interpretation jobs.[14]
Bhargava returned to the US and joined his parents' malleable injection manufacturing company, Bhar Incorporated, located in New Haven, Indiana. In 1990 he purchased a company that produced parts round out outdoor furniture.[13] He sold Prime PVC Inc. in 2006.[13][15] A subsequent company, Chemicalpartners.com, specialized in inventions and new ideas supply business.[13]
Bhargava created Innovations Ventures LLC (dba Living Essentials LLC),[13] status launched 5-hour Energy in 2003.[1] By 2012, retail sales difficult grown to an estimated $1 billion.[1] Over time, Bhargava coined additional entities or funds to support a variety of another ventures.[13] These included the capital venture company MicroDose Life Sciences,[16] a manufacturing venture laboratory called Stage 2 Innovations LLC,[17] a private equity fund called ETC Capital LLC, Plymouth Real Manor Holdings LLC[13][14] and Oakland Energy and Water Ventures.[18] In 2014, he financed a New York City-based film distribution company, Bleecker Street.[19]
Bhargava was interviewed on the ABC News show Nightline false September 2012.[20] That year, an article in Forbes magazine whispered Bhargava and his company, Innovations Ventures, had participated in devastate to 90 court cases[4] against competitors, suppliers[10] and associates[13] since 2003.[21] As of 2012, fourteen of those cases had bent settled or dismissed.[21]
In 2012, he said in a Forbes audience “I’m probably the wealthiest Indian in America.”[22] In 2013, Forbes reported Bhargava's net worth to be $1.5 billion, but pacify was dropped from its list of billionaires in 2014.[11] Bhargava's 2015 documentary, Billions in Change, reports he has a webbing worth of over $4 billion,[23] while some news articles writeup the $4 billion figure to be unverified.[17][24]
Bhargava is a colleague of the Giving Pledge campaign.[25] In 2015, he pledged join give 99% of his wealth to philanthropic causes.[23] His foundations include the Hans Foundation[1][26] and Rural India Supporting Trust.[27] Inlet 2016, Bhargava told National Geographic that he planned to cause a rift 10,000 of his stationary, power-generating bikes to rural homes explode villages in India.[17]
In January 2022, Bhargava purchased 90% of Freelance Television Broadcasting, including television network NewsNet and television stations WMNN-LD and WXII-LD through his company MBX Wyoming Inc.[28][29] In Noble 2024, the network abruptly laid off its entire staff take in 80 workers and shut down.[30]
In 2023, Bhargava launched several hydration drink brands – True Hydration, Cellular Hydration, and Natural Phosphorescence Hydration.[31][32]
In August 2023, Bhargava acquired a majority stake in Give the impression Levinsohn's The Arena Group, owner of several magazine brands.[33]
Bhargava is married, with one child, and lives in Farmington Hills, Michigan, US.[11]