An American business executive, Ajaypal Singh Banga was born on November 10, 1959. U.S. President Joseph Biden nominated him to head the World Bank on February 23, 2023. He is now serving as General Atlantic’s vice chairman.
His tenure as Mastercard’s president and CEO lasted from July 2010 to December 31, 2020, while his tenure as the company’s executive chairman lasted from January 1, 2021 until his retirement. On December 31, 2021, he resigned to join General Atlantic.
In 2020, he received a total compensation of $27.77 million. With U.S. Vice President Kamala Harris, he chairs the public-private Partnership for Central America. He is also the chairman of Exor, an investment holding firm based in the Netherlands.
How Much Is Ajay Banga Net Worth?
After retiring from General Atlantic, he officially quit on December 31, 2021. The sum of all of his earnings in 2020 was $27.77 million. Also, he is the chairman of Exor, a Dutch investment holding company.
The United States Vice President, Kamala Harris, and Ajay Banga are both co-chairmen of the public-private Partnership for Central America. There is no current, reliable estimate of Mr. Ajay Banga’s wealth, and there likely never will be. Some estimates put his net worth at around $250 million.
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America Suggests Banking Institution The World Bank Next President Is Ajay Banga
Vice President Joe Biden of the United States has nominated Ajay Banga, an Indian-American businessman, to be the next president of the World Bank. This shift occurs as the United States urges the bank to prioritise addressing climate change.
Mr. Banga, after leading Mastercard for almost a decade, is now active in the private equity sector. In the eyes of US officials, he has the background necessary to assist the bank in collaborating with the private sector to achieve its objectives.
The bank’s board of directors must approve the new CEO. The bank announced on Wednesday that it would conduct interviews with up to three finalists and select a new CEO by the beginning of May. The document explicitly stated that nominations from women were encouraged.
It’s unclear if any other nations will make alternative proposals. The United States is the largest shareholder in the World Bank and has thus had the traditional responsibility of choosing the World Bank’s president.
Janet Yellen, U.S. Secretary of the Treasury, recently expressed hope that the World Bank would use its influence to “force multiplier for good by establishing the proper agenda.”
Strange Choice For A Green World Bank President Ajay Banga
The White House claimed to want someone who’d lead the way on climate change. Banga’s just that, man if you think climate action involves plenty of private-sector stuff and vague promises. Since Trump-appointed World Bank President David Malpass announced, he would stand down ahead of schedule.
This is not a slip of tongue, she was just reading notes. Its president Obama who has appointed Ajay Banga as president of World Bank.
Ajay Banga was CEO of mastercard, who had written to US govt complaining against Modi Govt for promoting Rupay Card. pic.twitter.com/RPBL38urjE
— Facts (@BefittingFacts) February 24, 2023
The White House has underlined President Biden’s urgency to choose someone who will take climate change seriously. Malpass, after all, is retiring after fallout over his statements last autumn waffling as to whether fossil fuels drive climate change. (They do.) And his successor will be responsible with adopting the bank’s “roadmap” to align itself with the Paris Agreement.
Yet on Thursday, Biden announced his decision to award the job to Ajay Banga, a financial-sector veteran lacking in public-sector and climate experience. The pick tells much about how this administration feels climate change will happen: with the private sector holding the keys.
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