Ajay Banga: World Bank President Salary, Net Worth, Family and Education

Ajay Banga has been serving as the President of the World Bank Group since June 2, 2023. According to reports, Ajay Banga net worth 2023 is around 210 Million and he is one of the top business executives in the world.

Ajay Banga is a name that is synonymous with success. He has made a name for himself as one of the most successful business leaders in the world and has a net worth that reflects his achievements.

His journey from humble beginnings to the top of the corporate ladder is an inspiring story of ambition and determination. In this blog, we will explore Ajay Banga’s incredible net worth and the journey that led him to the top.

Meet Ajay Banga New Chief of World Bank – Know Who is Ajay Banga

Ajay Banga, the US nomination for the Chief of the World Bank, is a man of immense wealth and success. As the world looks to him to lead the organization, it is clear that his financial acumen and business savvy have been instrumental in his rise to the top.

As the former CEO of Mastercard, his net worth is among the net worth of top CEOs in the world. With his appointment to the highest office in the World Bank, it is clear that Ajay Banga is a force to be reckoned with. Let’s have a look at the quick Ajay Banga’s Bio.

Full NameAjaypal Singh Banga
Commonly Known AsAjay Banga
Date of birthNovember 10, 1959
OccupationBusiness Executive
Net Worth$210 Million

Ajay Banga Net Worth in 2023 – Exploring World Bank Chief’s net worth

Ajay Singh Banga has held various positions at Mastercard. He has over 30 years of experience in the business. He has also served on the boards of the American Red Cross, Kraft Foods, and Dow Inc.

Currently, Ajay Banga is the Vice President of private equity firm General Atlantic. According to various reports available on the Internet, Ajay Banga’s Net Worth in 2023 is $210 Million.

He has more than 60,000 Units of Mastercard stocks worth more than $113,123,489. He has sold more than $69,986,261 worth of Mastercard stock over the last 13 years.

Ajay Banga’s salary as CEO at Mastercard was around $23,250,000. He worked as the CEO of Mastercard for more than 12 years. So, we can say that his earnings are in the hundreds of millions. In 2020, his per-day salary was around $27.77 Million.

In addition to this, Ajay has also worked as co-chair with the Vice-President of the US Kamala Harris in partnership with Central America.


On November 10, 1959, Ajay Banga was born into a Saini Sikh family in the Khadki cantonment of Pune, Bombay State, India (now in Maharashtra). His father Harbhajan Singh Banga was an Indian Army veteran and retired lieutenant general. Harbhajan Singh Banga was posted in Pune at the time of Ajay’s birth. 

The family of Ajay Banga hails from Punjab’s Jalandhar.  His elder brother M. S. Banga is also a renowned businessman.

Banga attended the Hyderabad Public School in Hyderabad and St. Edward’s School in Shimla. He went on to earn a Bachelor of Arts (Honors) in Economics from St. Stephen’s College in Delhi and a PGP in Management, which is a degree that is equivalent to an MBA, from the Indian Institute of Management in Ahmedabad.

Full NameAjaypal Singh Banga
Age63 Years
BirthplacePune, India
FatherHarbhajan Singh Banga
MotherJaswant Banga
Siblings2 (1 brother and 1 sister)
BrotherManvinder Singh Banga
CasteSaini (OBC)
Marital StatusMarried
WifeRitu Banga
Children2 daughter
DaughterAditi Banga and Jojo Banga
Height5 Feet and 10 Inches
Weight75 kg
Hair ColorSalt and Pepper
Eye ColorLight Brown

Career and Rise to Success

Banga began his career in business with Nestlé in 1981. Over the next 13 years, he held positions in sales, marketing, and general management. As India’s economy liberalized, he joined PepsiCo and helped launch its international fast food-franchises there.

Banga has a strong interest in social development issues and was in charge of Citi’s global strategy for microfinance from 2005 to mid-2009. He succeeded Paul Polman as chairman of the International Chamber of Commerce (ICC) in 2020. Since June 2018, he is at the position of First Vice-Chair of the ICC.

Banga, Mastercard’s previous chief operating officer (COO), was named president and chief executive officer and appointed to the board of directors on July 1, 2010, as announced in April 2010. Robert W. Selander, who had been CEO since March 1997, was replaced by Banga. Banga took over as Vice Chairman of General Atlantic on January 1, 2022.

Wife and Children

Ajay Banga’s wife’s name is Ritu Banga. She is the co-founder of Zoomdojo, a consultating firm. As per the reports, Ajay and Ritu met each other when they were pursuing PGM at the Indian Institute of Management (IIM) in Ahmedabad. The couple dated for a brief period of time before getting married.  

Ritu and Banga are blessed with two daughters. The names of his daughter Aditi Banga and Jojo Banga. Both Aditi and Jojo are Harvard graduates. Aditi currently works with Instagram.

Key Positions Held By Ajay Banga

Corporate BoardsNon-Profit Organizations
Member of the Board of Directors, Exor – Since 2021Chairman, International Chamber of Commerce (ICC) Since 2020
Member of the Board of Directors, Temasek Holdings Since 2021Member of the Board of Governors, American Red Cross (ARC) Since 2014
Member of the Advisory Board, BeyondNetZeroVice Chair of the Board, Economic Club of New York
Member of the Board of Directors, Dow Chemical CompanyMember of the Board of Directors, Peterson Institute for International Economics
 Member, Trilateral Commission
 Co-Chair of the Board of Directors, American India Foundation Since 2016

Honor and Recognition

Ajay Banga is an inspiration to us all. A true leader, his tireless work and dedication to his craft have been recognized and honored time and time again. From being named 6th world’s most influential person by Fortune to being awarded the Padma Shri, India’s fourth highest civilian honor, Ajay Banga has achieved greatness on a global scale.

  • Foreign Policy Association Medal – 2012
  • Padma Shri – 2016
  • Global Indian of the Year by Economic Times Awards for Corporate Excellence – 2019
  • Distinguished Friends of Singapore Public Service Star – 2021
  • Leadership Award by Business Council for International Understanding
  • Ellis Island Medal of Honor by the Ellis Island Honors Society (EIHS)

Favorite Things

  • Favorite Basketball Team – New York Mets
  • Favorite Song – Paparazzi by Lady Gaga
  • Favorite Sport – Golf
  • Favorite Singer – Lady Gaga, and Elvis Presley
  • Favorite Music – Devotional Songs

Frequently Asked Questions

What is Ajay Banga’s Address?

200, 62nd Street, New York, NY 10021, United States of America.

Is Ajay Banga still working for Mastercard?

No, he resigned from Mastercard in 2021.

Is Ajay Banga rich?

Yes, he is one of the richest business executives in the world.

What is Ajay Banga’s nationality? 


We tried our best to provide accurate details in this post. However, if you think any of the information is not correct then please let us know in the comment section.

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