Anant Yardi, an Indian-origin software program tycoon, has turn into the brand new CEO of WeWork after buying a majority stake within the firm. This modification in management comes as WeWork navigates chapter.

Mr Yardi, an IIT-Delhi alumnus, has invested over $200 million in fairness and debt into WeWork over the previous two years, in keeping with the Monetary Occasions. Based in 2010 by Adam Neumann and Miguel McKelvey, WeWork as soon as had a peak valuation of $47 billion however filed for chapter in November 2023, dropping its valuation to $750 million by April 2024.

Listed below are some details on Anant Yardi:

1. Anant Yardi immigrated from India to the US in 1968, the place he began his personal firm, Yardi Methods. 

2. He topped the JEE entrance examinations in 1963 and has a BTech diploma from the Indian Institute of Know-how, Delhi, the place he was awarded the Director’s gold medal. He later earned his Grasp of Science diploma in Engineering from the College of California at Berkeley. 

3. Earlier than founding his personal firm, Anant Yardi spent 14 years at Burroughs Company (now Unisys). There, he honed his expertise in programming and methods growth, ultimately turning into the Director of Methods Improvement. 

4. In 1984, Mr Yardi developed “Primary Property Administration” for the Apple II pc and based Yardi Methods. He has been main the corporate as President and CEO ever since. The corporate has been working steadily beneath his management for 35 years and, in the present day, Yardi Methods makes nearly $3 billion a 12 months, making Anant Yardi a billionaire.  

5. In 2004, Anant Yardi was honoured with the ‘Digie’ award by Realcomm for his visionary work in automation methods. That very same 12 months, he was inducted into the Multi-Housing Information ‘Corridor of Fame’.