Manoj Bhargava | |
|---|---|
| Born | 1953 (age 70–71)
[1]
Lucknow, India |
| Citizenship | United States |
| Education | Princeton University (dropped out) |
| Occupation(s) | Entrepreneur, philanthropist |
| Known for | 5-hour Energy brand |
| Spouse | Sadhna Bhargav |
| Children | 1 |
Manoj Bhargava (born 1953) is an Indian American businessman and philanthropist. He is the founder and CEO of Innovations Ventures LLC ( dba Living Essentials LLC), the company known for producing the 5-hour Energy drink. [2] [3] By 2012, the brand had grown to do an estimated $1 billion in sales. [4] In 2015, Bhargava pledged 99% of his net worth to improve the well-being of the world's less fortunate. [5] In 2023, Bhargava was named interim chief executive of Sports Illustrated magazine after the removal of Ross Levinsohn. [6]
Early life and education
Bhargava was born in Lucknow, India in 1953, [1] [7] and in 1967, moved with his family to Philadelphia, Pennsylvania, United States. [8] [9] Bhargava's father attended the Wharton School of Business in pursuit of a doctorate. [1] [7] Bhargava won a math scholarship to an "elite private academy" called The Hill School, and after high school graduation attended Princeton University for one year in 1972. [7] [8] [10]
Career
After college, Bhargava returned to India and spent the next 12 years traveling to and from monasteries owned by the Hanslok Ashram. [8] [9] During this period, Bhargava moved back and forth between the US and India and worked a variety of middle-class office and construction jobs. [11]
Bhargava returned to the US and joined his parents' plastic injection manufacturing company, Bhar Incorporated, located in New Haven, Indiana. In 1990 he purchased a company that produced parts for outdoor furniture. [10] He sold Prime PVC Inc. in 2006. [10] [12] A subsequent company, Chemicalpartners.com, specialized in inventions and new ideas for business. [10]
Bhargava created Innovations Ventures LLC (dba Living Essentials LLC), [10] and launched 5-hour Energy in 2003. [1] By 2012, retail sales had grown to an estimated $1 billion. [1] Over time, Bhargava created additional entities or funds to support a variety of new ventures. [10] These included the capital venture company MicroDose Life Sciences, [13] a manufacturing venture laboratory called Stage 2 Innovations LLC, [14] a private equity fund called ETC Capital LLC, Plymouth Real Estate Holdings LLC [10] [11] and Oakland Energy and Water Ventures. [15] In 2014, he financed a New York City-based film distribution company, Bleecker Street. [16]
Bhargava was interviewed on the ABC News show Nightline in September 2012. [17] That year, an article in Forbes magazine said Bhargava and his company, Innovations Ventures, had participated in up to 90 court cases [18] against competitors, suppliers [7] and associates [10] since 2003. [19] As of 2012, fourteen of those cases had been settled or dismissed. [19]
In 2013, Forbes reported Bhargava's net worth to be $1.5 billion, but he was dropped from its list of billionaires in 2014. [8] Bhargava's 2015 documentary, Billions in Change, reports he has a net worth of over $4 billion, [20] while some news articles report the $4 billion figure to be unverified. [14] [21]
Bhargava is a member of the Giving Pledge campaign. [22] In 2015, he pledged to give 99% of his wealth to philanthropic causes. [20] His foundations include the Hans Foundation [1] [23] and Rural India Supporting Trust. [24] In 2016, Bhargava told National Geographic that he planned to distribute 10,000 of his stationary, power-generating bikes to rural homes and villages in India. [14]
In January 2022, Bhargava purchased 90% of Freelancer Television Broadcasting, including television network NewsNet and television stations WMNN-LD and WXII-LD through his company MBX Wyoming Inc. [25] [26]
In 2023, Bhargava launched several hydration drink brands – True Hydration, Cellular Hydration, and Natural Glow Hydration. The intracellular hydration drinks boast a sugar- and sodium-free formula, and are made using the reverse-osmosis technology Bhargava developed for HANS Premium Water. [27] [28] [29]
In August 2023, Bhargava acquired a majority stake in Ross Levinsohn's The Arena Group, owner of several magazine brands. [30]
Personal life
Bhargava is married, with one child, and lives in Farmington Hills, Michigan, US. [8]
References
- ^ a b c d e f "Manoj Bhargava, richest Indian in US commits 90% earnings to charity". The Economic Times. 10 April 2012.
- ^ "Manoj Bhargava, Founder and CEO, Innovation Ventures LLC and Living Essentials LLC". Smart Business. 1 July 2012. Retrieved 24 January 2016.
- ^ Duggan, Daniel; Walsh, Dustin (29 May 2011). "Energy Drink King Behind $100m Fund: Bhargava Sets Up Tech Park For New Firms". Crain's Detroit Business. Retrieved 24 January 2016.
- ^ O'Connor, Clare (8 February 2012). "The Mystery Monk Making Billions With 5-Hour Energy". Forbes.
- ^ Ilan Mochari (15 October 2015). "Inside the Mind of the Billionaire Who Built the 5-Hour Energy Empire". Inc. Retrieved 24 January 2016.
- ^ Josh, Taylor (12 December 2023). "Arena Group fires CEO in wake of Sports Illustrated AI articles scandal". The Guardian.
- ^ a b c d Murphy, Eamon (9 February 2012). "5-Hour Energy: A Success Equal Parts Caffeine, Chemistry and Meditation". DailyFinance.
- ^ a b c d e "Profile". Forbes.
- ^ a b Staff writer (11 October 2015). "Dropout, Monk and billionaire". Sunday Times of India.
- ^ a b c d e f g h Duggan, Daniel (19 February 2012). "Wizard of odds". Crains Detroit.
- ^ a b "Newsmakers of the Year 2011". Crains Detroit Business. 1 January 2012.
- ^ Frank Esposito (4 June 2007). "Spell purchases Prime PVC". Plastics News.
- ^ Gormley, Brian (19 May 2010). "With Tempting Idea For Start-Ups, MicroDose Makes First Two Deals". Wall Street Journal.
- ^ a b c Koch, Wendy. "Creator of 5-hour Energy Wants to Power the World's Homes—With Bikes". No. Oct 6, 2015. National Geographic. Archived from the original on 7 October 2015. Retrieved 22 November 2015.
- ^ Tom Henderson (4 March 2014). "Bhargava Funds Company to Invest in Water, Energy Deals". Crain's Detroit Business. Retrieved 24 January 2016.
- ^ Cheney, Alexandra (13 August 2014). "Ex-Focus Features Chief Launches Distribution Company". Variety. Retrieved 11 April 2016.
- ^ Johnson, Eric. "5-Hour Energy Inventor Likes 'Toiling in Obscurity'". ABC. Retrieved 11 September 2012.
- ^ O'Connor, Clare (8 February 2012). "The Mystery Monk Making Billions With 5-Hour Energy". Forbes.
- ^ a b Ben Wieder (26 March 2015). "The political kingmaker nobody knows". Center for Public Integrity.
- ^ a b Ilan, Mochari (15 October 2015). "Inside the Mind of the Billionaire Who Built the 5-Hour Energy Empire". Inc Magazine. Retrieved 22 November 2015.
- ^ Kumar, Bhaswar (22 October 2015). "Manoj Bhargava's crusade: From energy drinks to limitless energy". Business Standard. Retrieved 22 November 2015.
- ^ "Current Pledgers". The Giving Pledge. Retrieved 29 July 2015.
- ^ Saumya Bhattacharya (11 November 2014). "Philanthropists in the world not thinking through what people need: Manoj Bhargava". The Economic Times.
- ^ "Manoj Bhargava". Glasspockets. Retrieved 7 April 2015.
- ^ "Assignee Parties Addendum". WXII-LD FCC Filing. Retrieved 23 January 2022.
- ^ "MI News 26 Founder Starting National News Network". TVNewsTalk.net. 23 January 2022. Retrieved 23 January 2022.
- ^ Buss, Dale (1 July 2023). "A Category Pioneer Stays Energized". Institute of Food Technologists. Retrieved 6 November 2023.
- ^ "Natural Glow Hydration". Natural Glow Hydration. August 2023. Retrieved 6 November 2023.
- ^ King, R.J. (7 December 2020). "Novi Inventor Manoj Bhargava Plans $1B Gift of Clean Water Devices". DBusiness. Retrieved 6 November 2023.
- ^ Venta, Lance (14 August 2023). "5-Hour Energy Founder Expands Media Holdings Including Audacy & Cumulus Stakes - RadioInsight". Retrieved 15 August 2023.
External links
- Living people
- 1953 births
- American people of Indian descent
- 21st-century American philanthropists
- Indian emigrants to the United States
- Businesspeople from Lucknow
- Indian philanthropists
- Princeton University alumni
- The Hill School alumni
- American billionaires
- Indian billionaires
- 21st-century American businesspeople
Manoj Bhargava | |
|---|---|
| Born | 1953 (age 70–71)
[1]
Lucknow, India |
| Citizenship | United States |
| Education | Princeton University (dropped out) |
| Occupation(s) | Entrepreneur, philanthropist |
| Known for | 5-hour Energy brand |
| Spouse | Sadhna Bhargav |
| Children | 1 |
Manoj Bhargava (born 1953) is an Indian American businessman and philanthropist. He is the founder and CEO of Innovations Ventures LLC ( dba Living Essentials LLC), the company known for producing the 5-hour Energy drink. [2] [3] By 2012, the brand had grown to do an estimated $1 billion in sales. [4] In 2015, Bhargava pledged 99% of his net worth to improve the well-being of the world's less fortunate. [5] In 2023, Bhargava was named interim chief executive of Sports Illustrated magazine after the removal of Ross Levinsohn. [6]
Early life and education
Bhargava was born in Lucknow, India in 1953, [1] [7] and in 1967, moved with his family to Philadelphia, Pennsylvania, United States. [8] [9] Bhargava's father attended the Wharton School of Business in pursuit of a doctorate. [1] [7] Bhargava won a math scholarship to an "elite private academy" called The Hill School, and after high school graduation attended Princeton University for one year in 1972. [7] [8] [10]
Career
After college, Bhargava returned to India and spent the next 12 years traveling to and from monasteries owned by the Hanslok Ashram. [8] [9] During this period, Bhargava moved back and forth between the US and India and worked a variety of middle-class office and construction jobs. [11]
Bhargava returned to the US and joined his parents' plastic injection manufacturing company, Bhar Incorporated, located in New Haven, Indiana. In 1990 he purchased a company that produced parts for outdoor furniture. [10] He sold Prime PVC Inc. in 2006. [10] [12] A subsequent company, Chemicalpartners.com, specialized in inventions and new ideas for business. [10]
Bhargava created Innovations Ventures LLC (dba Living Essentials LLC), [10] and launched 5-hour Energy in 2003. [1] By 2012, retail sales had grown to an estimated $1 billion. [1] Over time, Bhargava created additional entities or funds to support a variety of new ventures. [10] These included the capital venture company MicroDose Life Sciences, [13] a manufacturing venture laboratory called Stage 2 Innovations LLC, [14] a private equity fund called ETC Capital LLC, Plymouth Real Estate Holdings LLC [10] [11] and Oakland Energy and Water Ventures. [15] In 2014, he financed a New York City-based film distribution company, Bleecker Street. [16]
Bhargava was interviewed on the ABC News show Nightline in September 2012. [17] That year, an article in Forbes magazine said Bhargava and his company, Innovations Ventures, had participated in up to 90 court cases [18] against competitors, suppliers [7] and associates [10] since 2003. [19] As of 2012, fourteen of those cases had been settled or dismissed. [19]
In 2013, Forbes reported Bhargava's net worth to be $1.5 billion, but he was dropped from its list of billionaires in 2014. [8] Bhargava's 2015 documentary, Billions in Change, reports he has a net worth of over $4 billion, [20] while some news articles report the $4 billion figure to be unverified. [14] [21]
Bhargava is a member of the Giving Pledge campaign. [22] In 2015, he pledged to give 99% of his wealth to philanthropic causes. [20] His foundations include the Hans Foundation [1] [23] and Rural India Supporting Trust. [24] In 2016, Bhargava told National Geographic that he planned to distribute 10,000 of his stationary, power-generating bikes to rural homes and villages in India. [14]
In January 2022, Bhargava purchased 90% of Freelancer Television Broadcasting, including television network NewsNet and television stations WMNN-LD and WXII-LD through his company MBX Wyoming Inc. [25] [26]
In 2023, Bhargava launched several hydration drink brands – True Hydration, Cellular Hydration, and Natural Glow Hydration. The intracellular hydration drinks boast a sugar- and sodium-free formula, and are made using the reverse-osmosis technology Bhargava developed for HANS Premium Water. [27] [28] [29]
In August 2023, Bhargava acquired a majority stake in Ross Levinsohn's The Arena Group, owner of several magazine brands. [30]
Personal life
Bhargava is married, with one child, and lives in Farmington Hills, Michigan, US. [8]
References
- ^ a b c d e f "Manoj Bhargava, richest Indian in US commits 90% earnings to charity". The Economic Times. 10 April 2012.
- ^ "Manoj Bhargava, Founder and CEO, Innovation Ventures LLC and Living Essentials LLC". Smart Business. 1 July 2012. Retrieved 24 January 2016.
- ^ Duggan, Daniel; Walsh, Dustin (29 May 2011). "Energy Drink King Behind $100m Fund: Bhargava Sets Up Tech Park For New Firms". Crain's Detroit Business. Retrieved 24 January 2016.
- ^ O'Connor, Clare (8 February 2012). "The Mystery Monk Making Billions With 5-Hour Energy". Forbes.
- ^ Ilan Mochari (15 October 2015). "Inside the Mind of the Billionaire Who Built the 5-Hour Energy Empire". Inc. Retrieved 24 January 2016.
- ^ Josh, Taylor (12 December 2023). "Arena Group fires CEO in wake of Sports Illustrated AI articles scandal". The Guardian.
- ^ a b c d Murphy, Eamon (9 February 2012). "5-Hour Energy: A Success Equal Parts Caffeine, Chemistry and Meditation". DailyFinance.
- ^ a b c d e "Profile". Forbes.
- ^ a b Staff writer (11 October 2015). "Dropout, Monk and billionaire". Sunday Times of India.
- ^ a b c d e f g h Duggan, Daniel (19 February 2012). "Wizard of odds". Crains Detroit.
- ^ a b "Newsmakers of the Year 2011". Crains Detroit Business. 1 January 2012.
- ^ Frank Esposito (4 June 2007). "Spell purchases Prime PVC". Plastics News.
- ^ Gormley, Brian (19 May 2010). "With Tempting Idea For Start-Ups, MicroDose Makes First Two Deals". Wall Street Journal.
- ^ a b c Koch, Wendy. "Creator of 5-hour Energy Wants to Power the World's Homes—With Bikes". No. Oct 6, 2015. National Geographic. Archived from the original on 7 October 2015. Retrieved 22 November 2015.
- ^ Tom Henderson (4 March 2014). "Bhargava Funds Company to Invest in Water, Energy Deals". Crain's Detroit Business. Retrieved 24 January 2016.
- ^ Cheney, Alexandra (13 August 2014). "Ex-Focus Features Chief Launches Distribution Company". Variety. Retrieved 11 April 2016.
- ^ Johnson, Eric. "5-Hour Energy Inventor Likes 'Toiling in Obscurity'". ABC. Retrieved 11 September 2012.
- ^ O'Connor, Clare (8 February 2012). "The Mystery Monk Making Billions With 5-Hour Energy". Forbes.
- ^ a b Ben Wieder (26 March 2015). "The political kingmaker nobody knows". Center for Public Integrity.
- ^ a b Ilan, Mochari (15 October 2015). "Inside the Mind of the Billionaire Who Built the 5-Hour Energy Empire". Inc Magazine. Retrieved 22 November 2015.
- ^ Kumar, Bhaswar (22 October 2015). "Manoj Bhargava's crusade: From energy drinks to limitless energy". Business Standard. Retrieved 22 November 2015.
- ^ "Current Pledgers". The Giving Pledge. Retrieved 29 July 2015.
- ^ Saumya Bhattacharya (11 November 2014). "Philanthropists in the world not thinking through what people need: Manoj Bhargava". The Economic Times.
- ^ "Manoj Bhargava". Glasspockets. Retrieved 7 April 2015.
- ^ "Assignee Parties Addendum". WXII-LD FCC Filing. Retrieved 23 January 2022.
- ^ "MI News 26 Founder Starting National News Network". TVNewsTalk.net. 23 January 2022. Retrieved 23 January 2022.
- ^ Buss, Dale (1 July 2023). "A Category Pioneer Stays Energized". Institute of Food Technologists. Retrieved 6 November 2023.
- ^ "Natural Glow Hydration". Natural Glow Hydration. August 2023. Retrieved 6 November 2023.
- ^ King, R.J. (7 December 2020). "Novi Inventor Manoj Bhargava Plans $1B Gift of Clean Water Devices". DBusiness. Retrieved 6 November 2023.
- ^ Venta, Lance (14 August 2023). "5-Hour Energy Founder Expands Media Holdings Including Audacy & Cumulus Stakes - RadioInsight". Retrieved 15 August 2023.
External links
- Living people
- 1953 births
- American people of Indian descent
- 21st-century American philanthropists
- Indian emigrants to the United States
- Businesspeople from Lucknow
- Indian philanthropists
- Princeton University alumni
- The Hill School alumni
- American billionaires
- Indian billionaires
- 21st-century American businesspeople