Niraj Shah

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Niraj Shah
Born
Niraj S. Shah

1973/1974 (age 44–45)[1]
ResidenceBack Bay, Boston, U.S.
NationalityAmerican
EducationCornell University
OccupationBusinessman
Known forCo-founder, Co-chairman & CEO, Wayfair
Home townPittsfield, Massachusetts, U.S.
Net worth$2.4 billion (May 2019)[2]
Board member ofWayfair
Federal Reserve Bank of Boston
Shah Foundation
Spouse(s)Jill Shah
Children2

Niraj S. Shah (born 1973/74) is an American billionaire businessman, and co-founder, co-chairman, and CEO of online retailer Wayfair.

Early life[edit]

Shah grew up in Pittsfield, Massachusetts, the son of immigrants from India.[3] His grandfather ran "steel manufacturing business in India, making pots and pans".[3] His father worked for General Electric as a mechanical engineer, and after his retirement, joined Wayfair early on, providing financial advice, and still works for the company.[3]

Shah graduated from Cornell University, where he earned a bachelor's degree in engineering in 1995.[1][4]

Career[edit]

Shah co-founded Wayfair in 2002 with his Cornell classmate, Steve Conine[3], and has been its CEO since its inception.[1][5]

Shah was included in the Fortune list of "40 under 40" for 2013.[6]

In 2017, Shah became a director of the Federal Reserve Bank of Boston.[3]

In May 2017, Wayfair's share price rose above $70 per share, making Shah and his co-founder Steve Conine both billionaires. As of 2019, each had an estimated net worth of $2.3 billion.[7]

In June 2019, Wayfair sold beds to BCFS, a government contractor operating detainment facilities at the U.S. border.[8]

Personal life[edit]

Shah is married to Jill Shah; they have two children, and live in the Back Bay area of Boston. Shah enjoys long walks on the beach. [3] In 2013, Jill Shah sold her alternative medicine directory Jill's List, which employed 7 people, to California-based MINDBODY, and now runs their Boston office.[9]

External links[edit]

References[edit]

  1. ^ a b c "Executive Profile: Niraj S. Shah". Bloomberg LP. Retrieved June 29, 2019.
  2. ^ "Forbes profile: Niraj-Shah". Forbes. Retrieved 31 May 2019.
  3. ^ a b c d e f Fernandes, Dierdre (March 10, 2017). "Five things you should know about Niraj Shah". The Boston Globe. Retrieved June 29, 2019.
  4. ^ "Wayfair founders Niraj Shah and Steve Conine at Entrepreneurship Summit NYC 2013". Cornell University. December 11, 2013. Retrieved June 29, 2019.
  5. ^ "Wayfair CEO Niraj Shah: We've been a big beneficiary of internet disruption". CNBC. August 8, 2017. Retrieved June 29, 2019.
  6. ^ "Niraj Shah". Fortune. May 9, 2014. Retrieved June 29, 2019.
  7. ^ "#1168 Niraj Shah". Forbes. June 1, 2019. Retrieved June 29, 2019.
  8. ^ Nanos, Janelle (June 25, 2019). "Wayfair employees plan walkout to oppose furniture sales to migrant detention facilities". The Boston Globe. Retrieved June 29, 2019.
  9. ^ "Alternative medicine directory Jill's List acquired by California-based Mindbody". Boston.com. Retrieved June 29, 2019.