Jay Chaudhry has secured his place among the top 10 of India’s wealthiest people according to the latest IIFL Wealth Hurun India Rich list 2021. The CEO and founder of the Zscaler, once hailed from a small North Indian village in Himachal Pradesh and went on to become an IIT alumnus. He founded the cyber security firm in 2007 and is the owner of 42 per cent of the Nasdaq-listed firm, which has a market cap of Rs 281,000 crore. It should be noted that the 62-year-old business tycoon carries a wealth of Rs 121,600 crore. It is estimated that his daily wealth creation velocity since the 2020 list stands at 153 crore per day according to the Hurun list.
It should also be noted that the increase in demand of the company’s cyber security company on the back of increased corporate ransomware attacks contributes to nearly 85 per cent of the immense wealth under his name. This has pushed him to the number 10 spot on the IIFL Wealth Hurun India Rich list 2021.
Yes, today he is a titan of his industry and stands as a prominent self-made billionaire. However, he was not always this fortunate growing up. In his native village of Panoh, often times he and his family would have to endure days without electricity or running water. Coming from such a humble background it truly is a tale of rags to riches where he has made himself one of the country’s elites in terms of sheer wealth.
One major contributing factor to the wealth that Chaudhry was able to generate was the Covid-19 pandemic. While most of the nation was adjusting to the new dynamic and work-from-home was becoming more and more a necessity, the need for cybersecurity was also driven up. During 2020, Chaudhry’s company grew exponentially, with its stocks rising nearly 300 per cent, which placed it in the league of software programmes like Zoom. It would seem that around 50 per cent of the company’s revenues in the year 2020 as a result of Value-added resellers, according to a report by ‘The Software Report’.
Before the founding of Zscaler, Chaudhry had founded four other tech companies which were all bought out. These companies were SecureIT, CoreHarbor, CipherTrust and AirDefense, safe to say, this was not his first time in the business of scaling up a company to such an extent.
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