is a Silicon Valley-based serial entrepreneur with a net worth of $3.5 billion.He graduated from IIT-Bombay and then went to Carnegie Mellon for a PhD in electrical engineering. My obsession is really to make sure that the internet and cloud are a safe place for everyone to do business., Follow us on our social media channels to stay connected. His hometown, a village in the Himalayas in India, did not have electricity or running water until he was in the 8th and 10th grade, respectively. He drew a good salary and bonus, and had stock options. Im sitting in 2007-2008. Innovative for its day, today SOX sets the bar too low for information security management. Im a Jefferson Fellow 2019 of the East-West Center, Hawaii. Heres Why. Copyright HT Digital Streams Ltd. All rights reserved. Authors may own the stocks they discuss. Chaudhry developed a passion for startups after studying Netscape. The firm is part of a group of cloud security companies including Okta, Zscaler, Netskope, and others, that are taking on the new world of cybersecurity challenges. Start your day off with our weekly digest. Senate Democratic Whip Democrat - District 15. Learn how you can make more money with IBD's investing tools, top-performing stock lists, and educational content. Wake. PMID: 27751840. That wasn't apparent to many before. Chaudhry also drives innovation by leading his team to think like entrepreneurs. The pandemic has only propelled the shift. [10], With a net worth of US$16.3 billion (as of October 2021), Chaudhry was included in the 2021 Forbes 400 list of richest people in America securing a rank of 45th in the list. ; Morgan Chu, prominent litigator and former Managing Partner of Irell & Manella. It went public in March 2018. Chaudhry's love of his work shows in Zscaler's products. Reportedly, Jay faced severe hardship while growing up as his village lacked basic amenities like drinking water and electricity. J Hepatol. Jay Chaudhry, the CEO and Founder of Zscaler, has a developed unique approach to cybersecurity, one that fits into my balanced cybersecurity framework, but that also dispels conventional notions of protection. Zscaler is a huge winner for investors. Terms in Senate: 4+ ( 0 in House ) Office Phone: (919) 715-6400. Jays plane ticket was sponsored by the Tata Group, an Indian multinational conglomerate. Zscaler was one of them. Jagtar Singh Chaudhary [2] was born on Tuesday, 26 August 1958 [3] ( age 62 years; as of 2020) in Panoh village, Una district in Himachal Pradesh. The village, which had no running water or electricity, had a meager schoolhouse. It has to be a game-changer in the nature of what Netflix has done to TV and movie viewing and what Tesla has done to Americas automobile industry. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. Chaudhrys wealth has increased by leaps and bounds since Zscaler made its initial public offering on the NASDAQ exchange in March 2018 with a share price of $16. "I always felt like if you do well, money just follows. How Lehman Brothers Overcame Its Wireless Fears, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. In 2020, when the world economy was suffering due to the COVID-19 pandemic, the share price of Zscaler saw a threefold increase, from 60 USD in March 2020 to 180 USD in March 2021. You have moved out of Silicon Valley, which is considered to be the hub of technology companies what are the reasons? Security News Zscaler's Jay Chaudhry: Partners Must Embrace Cloud, Zero Trust Security Michael Novinson April 21, 2021, 02:25 PM EDT 'One infected workload can infect thousands of other . Palo Alto Networks Has it Wrong. "My number one focus as CEO is to keep hiring exceptional people," he said. Zscaler bills itself as a cloud cybersecurity solution, or Security as a Service. I am a risk taker. Chaudhry, who is at No 45 on the list, founded Zscaler in 2008 and it went public . "Timing is everything," he said. Chaudhry had no history of entrepreneurships or business in his family. Do you still have personal connections in India and do you visit often. He's an avid reader with a strong interest in learning. [7][8] After Zscaler's March 2018 IPO,[9] Chaudhry was reckoned to be a billionaire. Chaudhry's fascination with cybersecurity innovations led him to start and build five successful companies. In December 1996, Jay and his wife Jyoti, quit their jobs to start the security software firm SecureIT in Atlanta, risking their entire life savings; the company merged with Verisign (an American internet company) in 1998, and Jay became the vice president of Verisign. 1/17/2023 Easy. "I thought wow, I want to be part of that," Chaudhry told Insider. Cybersecurity stocks have underperformed vs. the S&P 500. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Himachal Pradesh-born Jay Chaudhry, the owner of the cybersecurity firm Zscaler, is among the top-10 Indian billionaires in the USA, as per the 10th edition of Hurun Global Rich List. (You can think of a CNSP like a modern-day AI/ML-driven version of the firewall; large enterprises approach Zscaler for help with ensuring that their machines, people and processes can access the internet more safely.). While his net worth grew rapidly over the last year, Zscaler was not Chaudhry's first successful software startup. Jay Chaudhry, the CEO of the $29 billion cybersecurity company Zscaler, is betting that a business world beaten up by high-profile cyberattacks is finally ready for an entirely cloud-based approach to security. serial entrepreneur jay chaudhry has founded five successful tech companies in the us - airdefense, a wireless security firm; ciphertrust, the first email security gateway; coreharbor, a managed ecommerce solution firm; secureit, the first pure-play internet security service; and zscaler, a cloud-based information security firm and exited from In 2021, he made headlines after he was listed among the top ten richest Indians by Hurun Global Rich List 2021. Chaudhry moved to the U.S. in 1980 to attend graduate school and now lives in Nevada, after relocating from the Bay Area. From those humble beginnings, Chaudhry, the Founder-CEO of California-based IT security firm Zscaler, recently became the newest entrant into the list of 10 richest Indians in the world. According to him, after the merger with Verisign, 70 out of the 80 employees of SecureIT became millionaires. Founded Zscaler in 2007, took it public on March 16, 2018 and built it into a leader in cloud security services and digital security. ABG, owner of Forever 21 and Lucky Brand, said a lot of nasty things about the one-click checkout star in a lawsuit earlier this year. Vaccine news also boosted the fortunes of several billionaires in Asia. One of the most interesting tradeoffs facing CIOs and CSOs is the challenge of determining the right balance between on-premise and cloud cyber-security technology. But Zscaler CEO Jay Chaudhry lived it: He became a billionaire in the high-risk tech startup game by following his passion. "It was so easy to spin up services in the cloud," Nathan Howe, Zscaler's vice president of emerging technology told Insider. Chaudhry, 62, founded Zscaler in 2007. Zscaler operates on the idea of zero trust, which automatically assumes users are unauthorized and requires more information to gain access. Zscaler is known to provide security as a service to leading tech . The first time Chaudhry flew was to Ohio where he was offered a scholarship to the University of Cincinnati for graduate school in the 1980s. "Since I love to read about everything, especially technology, I read every article I could find about Netscape and everything I could find about the internet," he said. Jay Chaudhry is an Indian-American businessman who owns the cybersecurity firm Zscaler. ". For example, the deception security firm Smokescreen will add trickery to Zscaler's tools, fooling hackers into attacking the wrong targets. Farq Episode 23 - [Eng Sub] - Faysal Quraishi - Sehar Khan - Adeel Chaudhry - 16th January 2023 . Reportedly, Jay faced severe hardship while growing up as his village lacked basic amenities like drinking water and electricity. You can read more at www.smirk-book.com. He and his family own 42% of the Nasdaq-listed firm. "My dad worked hard and was honest," Chaudhry says of his father, who had a small farm 8,000 miles and a world away from Silicon Valley. Chaudhry, who is 62 and worth $12 billion, according to Forbes, has had a long road to success. Those first few months at IBM were frustrating. Now seriously in doubt about his career choices, he kept trying. "You've got to take risks," Chaudhry told Insider and said that was applicable to companies thinking they are playing it safe by sticking with legacy cybersecurity. Zscaler thrived during the Covid-19 pandemic, causing Chaudhrys wealth to balloon by 271%. Zscaler is now trading at around $280. Chaudhry's parents had never been to school at all, and he was excited to be there. Chaudhry had joined the electronics giant IBM, which tasked him with selling their computers to GE. A new approach is needed. Airlines tycoon Gangwal, with a net worth of $4.4 billion, is an IIT-Kanpur and Wharton alum and owns close to 37% of InterGlobe Aviation, the parent of IndiGo airlines. Next he started CipherTrust, an email security gateway that merged with Secure Computing and eventually became part of McAfee. I encourage today's graduates to consider these two life . The big companies have cybersecurity vulnerabilities across the three main cloud platforms, with 52% exposure from Amazon Web Services, 36% from Azure, and 11% from Google Cloud. "We just acquired some really cool technology," Chaudhry said. And Zscaler's stock has rocketed more than 400% the first-day closing price following its IPO. When remote work was involved, the cost of data loss rose by a bit more than $1 million. Chaudhry talked to his wife about doing a startup. Humility was central to Chaudhry's upbringing in a tiny village in the Himalayas foothills. He has climbed up on the Forbes list this year from 353 last year.Khosla Ventures invests in clean technology and new technologies such as biomedicine and robotics. His family had no electricity until he finished 8th grade. View Ejaz "JAY" Chaudhry's professional profile on LinkedIn. It should be viewed as opinion. DNA: After all, whose evil gaze fell upon Joshimath? Entrepreneurs need to know when to get out, when to sell your business, Chaudhry said at a conference of fellow IIT alumni in November. BREAKING: Futures Erase Losses, Yields Fall As Bank Of Japan Stays Course, Zscaler CEO and co-founder Jagtar Chaudhry, 62, turned his passion into a multibillion dollar online security leader. His big bets have paid off in the past and going all-in on the cloud is the same, he said. 2000-2023 Investor's Business Daily, LLC. Jay Chaudhry is a serial disrupter. It went public in March 2018. Newcomers: These 19 Billionaires Join The Forbes 400 List In 2019, Zscaler Stock Stabilizes After Recent Harsh Reaction To Initial FY20 Outlook, SOX Doesn't Mean Secure: Avoid Compliance Complacency To Keep Your Enterprise Safe, How To Prevent Complacency From Putting Enterprise Security At Risk, Protect Four Key Areas To Create A Balanced Cybersecurity Portfolio, The Best Cloud Computing Companies And CEOs To Work For In2015. I also write on entrepreneurs in food & beverages; crafts and education sectors. Now, at 63, he has a string of successful software startups under his belt and a, He was born Jagtar Singh Chaudhry, the youngest of three sons of Bhagat and Surjeet Chaudhry. [2] She was raised in Karachi. Chaudhry was born in Panoh, a village in Una district of the state of Himachal Pradesh, India. VeriSign (VRSN) bought it in 1998. The Himachal Pradesh born IIT alumni founded the cyber security firm in 2007 and currently owns 42 percent of the Nasdaq listed firm, which has a market cap of Rs 2,81,000 Crore. Follow trending topics, Enjoy Unlimited Digital Access with HT Premium. He's trying to do the latter as he focuses on keeping the world secure. Jeff Bezos Once Again The Worlds Richest Person After Rollercoaster Week, Larry Ellison And Elon Musk Are $5 Billion Richer This Week, As Stock Market Hits New Record High, Forbes 400 2020: These Billionaires Have Gotten The Richest Over The Past Year, Zscaler Booms Amid Remote Cybersecurity Demands, The Best Cloud Computing Companies To Work For In 2020 Based On Glassdoor. magazines list of 400 wealthiest Americans for 2021, released earlier this week. The companys market cap is $28 billion, and it employs 2,800 people. The approach seems to be working. Now the richest Indian American, Jay Chaudhry built his fortune by going all in on security software. 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Pre-book your ride to and from the airport . Join Facebook to connect with Jay Chaudhry and others you may know. He and his family own 42% of the Nasdaq-listed firm. Until 2004 Lehman banned wireless communications for fear of security breaches. His wife, also a tech professional with an MBA in finance, told him to either do something or stop talking about it. Chaudhry used Salesforce.com at his startups since 2001. But cloud security companies may be better positioned as corporate budgets tighten. 1/17/2023 He sat in a car for the first time after completing Class 12 and took his first flight when he left India for the US. Report a problem? Its security extends to work hosted in the cloud and on apps. [5], He earned a bachelor's degree from the Institute of Technology, Banaras Hindu University (IT-BHU), and a master's in Computer Engineering, a Master's in Industrial Engineering and MBA from the University of Cincinnati. It has two main products: Zscaler Internet Access, which addresses internet and Saas access, and Zscaler Private Access, which protects access to private applications that a business uses. [6], In 1997, Chaudhry founded SecureIT (acquired by Verisign) and CipherTrust (acquired by Secure Computing Corporation). And his biggest yet: Cloud security leader Zscaler ( ZS ). They were acquired by USi (which was acquired by AT&T) in 2003 and by Secure Computing / McAfee in 2006 respectively. The company gives IT departments the ability to monitor all the traffic on a companys network while also protecting it from threats of viruses and hacking. They at least took his calls, but all told him politely that they did not deal with computer purchases. 62-year-old Jay Chaudhry, CEO and cofounder of Zscaler, a cloud security firm headquartered in San Jose, climbed 577 spots in the Hurun Global Rich List 2021 after the valuation of his company's shares shot up causing a meteoric rise in his net worth by 271% in 2020. ", Get these newsletters delivered to your inbox & more info about our products & services. My success so far has mainly been because I have very little attachment for money," Chaudhry said in 2019. So Chaudhry researched areas with opportunity. *Real-time prices by Nasdaq Last Sale. Jay's Sedan Service was founded in 2005, Starting with just two vehicles and a hand full of exclusive clientele, today there are 20 professional chauffeurs who drive some of the most important and . Related by origin of wealth: security software. It was time for the next step. You and your wife left successful and comfortable jobs in the US for your first start-up; what made you take the risk? I had no desire to do one more startup point-product and sell it. CEO Jay Chaudhry was born in a town without running water or electricity and is now worth $12 billion. Bolt and client ABG bury the hatchet and become proud partners again. Get market updates, educational videos, webinars, and stock analysis. Prior to Zscaler, the four companies the Zscaler CEO founded were all acquired. Then he launched CoreHarbor, an ecommerce platform that was acquired by AT&T. He acted as the Vice Chairman of Secure Computing (which was also acquired by McAfee) for one year in 2006. Jay Chaudhry, 62, of california-based enterprise cloud cyber security firm zscaler, made it to India top 10 for first time, on the back of accentuated demand for cyber security services caused by a series of ransomware attacks on us institutions. 2017 Feb;66 (2):374-381. doi: 10.1016/j.jhep.2016.10.008. All rights reserved. Innovation drives Chaudhry. Facebook gives people the power to. VeriSignstock "went through the roof" during the dot-com era. They helped him put together a map of the decision-making structure at GE, and then things began moving. I knew a lot about (the) internet., The company Chaudhry founded next, Zscaler, is now the worlds largest cloud native security platform or CNSP. From 2002 to 2008, Jay acted as the CEO and Chairman of AirDefense, a company that was acquired by Motorola in 2008. Gartner Has It Right. 02:39What inspired serial entrepreneur Jay Chaudhry to form his successful tech companies, 00:39Jay Chaudhry on differences between the second-generation Indian American entrepreneurs. 2023 Forbes Media LLC. Overcame risks of introducing new technology to the market launching multiple successful startups. Its security extends to work hosted in the cloud and on apps. 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