Vinod Gupta

For the Indian cricketer, see Vinod Gupta (cricketer).
Vinod Gupta
Born 1945/1946 (age 70–71)[1]
Rampur Maniharan, near Saharanpur, Uttar Pradesh, India
Alma mater Indian Institutes of Technology
University of Nebraska
Occupation Businessman
Spouse(s) Bonnie Gupta
Children Benjamin Kane Gupta (deceased)
Alexander Gupta
Jess Gupta

Vinod Gupta (born 1945/46) is an Indian-born American businessman, the former chief executive officer (CEO) and chairman of infoGROUP (previously known as infoUSA).[2] Gupta served as CEO of the company from the time of its incorporation in 1972 until September 1997, and from August 1998 to August 2008.[3] Borrowing $100 from a bank to get started, it has grown from a one-man operation to a global employer of over 5,000 with revenues of $750 million. During this period he acquired over 45 companies. InfoGroup was sold in July 2010 for $680 million.

In 2010, Gupta created DatabaseUSA.com.[4] In 2011, he developed Infofree.com that provides Business and Consumer leads. In 2012, Gupta developed LocateAMERICA.com. He was mentioned in Bill Clinton's book Giving, which described the company as one that "has made a concerted effort to hire people who were on welfare, as well as people who are disabled or who have to support themselves after getting out of unsafe domestic situations."

He was appointed by President Clinton to serve as a trustee of the John F. Kennedy Center for the Performing Arts in Washington, D.C. Gupta was also nominated and confirmed to be the United States consul general to Bermuda as well as nominated by the President to be the United States ambassador to Fiji[5]

Education

Gupta was born in the small town of Rampur Maniharan, located 100 miles (160 km) north of New Delhi, a small town (village) near Saharanpur (Uttar Pradesh). After graduating high school, Gupta applied to the Indian Institutes of Technology (IIT) and was admitted into the IIT Kharagpur campus, majoring in agricultural engineering.

In 1964, he was commissioned in Indian Air Force as Flying Officer in Engineering Unit and resigned in 1967 with a rank of Squadron Leader in 14 Squadron.

In 1967, Gupta moved to the United States to get his master's degree. He graduated from the University of Nebraska at Lincoln with an MS in agricultural engineering in 1969 and an MBA in 1971. He was awarded honorary doctorate by Monterey Institute, University of Nebraska, and IIT Kharagpur. He also delivered the commencement address at IIT Kharagpur in 2006.

Early career

In his first job after college Gupta was hired as a marketing research analyst with Commodore Corporation, a manufacturer of mobile homes. While at Commodore, Vin was assigned the task of gathering a list of every single mobile home dealer in the United States. He found all the sources available to be outdated and incomplete. He then ordered all available 4,800 Yellow Pages phone directories and set out to compile the list himself.

With the help of another employee, Gupta sorted the books state by state. Commodore said they could work on the project on their own time and once completed, the company would consider buying the list. After the list was completed, Gupta gave them two options: pay $9,000 for exclusive rights to it or receive it free of charge and allow Gupta and his partner to sell it to Commodore's competitors. Balking at the $9,000 cost, Commodore chose the latter option.

Borrowing $100 from a local Nebraska bank, Gupta invested the money in mailers he sent out to other mobile home manufacturers. Within three weeks he had received checks for $22,000 and orders for another $13,000. Gupta had found his niche, now he just had to come up with a more efficient way to collect the data. By 1992, the company had revenue of $42 million and became publicly traded on NASDAQ. Since then, Gupta acquired over 45 companies and built it into an information power house.

Charitable foundation

Gupta has decided to give all his wealth to charity. He believed in 'Learn, Earn and Return' Gupta recognizes the value of education and how it has changed his life. As a result, he has made education a primary beneficiary for his charitable contributions. "Through his charitable foundation, Gupta has helped advance education across fields including: business, science, information technology, communications, intellectual property law and wildlife preservation."[6] Most recently he donated $1 million for a women’s polytechnic in his native town of Rampur Maniharan, a small town near Saharanpur in Uttar Pradesh state. The Polytechnic was inaugurated by the former US President Bill Clinton.

In addition he gave his alma mater, Indian Institute of Technology, $2 million to create the Vinod Gupta School of Management.[7] The institute now offers an MBA program to engineering graduates with 0 to 5 years of work experience. After Gupta’s contributions, the IIT received $2 million from other IIT alumni. He has also donated money for a new science block at his former village school and provided buses for the girls’ school. Moreover, the most recent of his contributions includes the setting up of a law school under the IIT umbrella with excellent infrastructure named under Rajiv Gandhi School of Intellectual Property Law which is creating waves across India with its unique program.[8]

In America, Gupta has donated $2 million to establish a curriculum for small business management at the University of Nebraska at Lincoln. He has also donated an additional $500,000 to the university to set up a scholarship fund for minority students who want to enter its science or engineering schools.

Securities and Exchange Commission charges

In 2010, Gupta was charged along with two other employees of Infogroup for "their roles in a scheme in which the CEO funneled illegal compensation to himself in the form of perks worth millions of dollars." The SEC said he used $9.5 million in corporate funds for personal gain and his "lavish lifestyle".[9] The three later settled with the SEC without admitting wrongdoing. He paid $7.4 million in fines and penalties and agreed to be barred from serving as an officer or director of a public company, according to the SEC.[9][10]

Relationship with the Clintons

After Bill Clinton left the White House in January 2001, Gupta hired him as a consultant, a relationship that has continued. "Gupta has a long history of giving and raising campaign money for the Clintons, and gave $1 million for the 2000 Millennium Celebration, a New Year's Party thrown by the Clintons. When he was president, Bill Clinton named Gupta to the Kennedy Center board of directors. Gupta also got to stay in the Lincoln bedroom with his wife . He gave another million to the Clinton Presidential Library."[11]

In June 2007, Gupta praised Clinton's work for the company. "He helps us meet some of the right people," he told the Omaha World-Herald. "In many speeches, he has mentioned InfoUSA by name." Gupta said...It takes money to make money. By spending money, Gupta networked into the power elites of Washington, New York and Bay Area. He brought hundreds of millions of dollars of revenue through his contacts at Google, Microsoft, AOL, Cisco, Democratic Party, eBay, HP and hundreds of other corporations. He has one of the biggest rolodex in the business"[12]

In February 2014, Infogroup sued Gupta for improperly recruiting its employees and accessing its computer secrets.[13]

Personal life

He is married to Bonnie Gupta, and they have three sons together, Benjamin Kane Gupta, Alexander Gupta and Jess Gupta.[14][15][16]

In the late 2000s, his son Benjamin Kane Gupta was hired by the State Department as an intern while Hillary Clinton was running it.[17] Benjamin Gupta died in December 2012 from accidental "acute mixed drug intoxication", oxycodone and alcohol, aged 28.[18] At a memorial service, Hillary Clinton said, "He really showed us what a life well-lived would look like",[18] Bill Clinton said, "Some people live four times as long and don't do as much good".[19]

References

  1. ↑ "Clinton's Backers Ties to Powerful Cut Both Ways". The New York Times. Retrieved 2016-10-24.
  2. ↑
  3. ↑ Ostroy, Andy. "The New York Times - Breaking News, World News & Multimedia". International Herald Tribune. Retrieved 2016-10-24.
  4. ↑
  5. ↑
  6. ↑
  7. ↑ Basu, Somdatta (25 January 2008). "Alumnus donates $1 mn to IIT". The Times of India.
  8. ↑ "Intellectual property law school at Kharagpur". Rediff. 4 March 2006.
  9. 1 2 "SEC Charges Former Executives in Illegal Scheme to Enrich CEO With Perks" (Press release). U.S. Securities and Exchange Commission. 15 March 2010. Retrieved 23 March 2013.
  10. ↑ "Title unknown". Archived from the original on 1 July 2011.
  11. ↑ Overby, Peter (13 February 2008). "Clintons' InfoUSA Ties scrutinized". National Public Radio.
  12. ↑
  13. ↑ "US based Infogroup sues its Founder and Ex-CEO Vinod Gupta". Bihar Prabha. Indo-Asian News Service (IANS). 20 February 2014. Retrieved 20 February 2014.
  14. ↑ Ferris, Sarah. "Vinod Gupta - Newsroom". Blogs.gwhatchet.com. Retrieved 2016-10-24.
  15. ↑ "Entrepreneur and Philanthropist Vinod Gupta Establishes GW Fellowship Program at the U.S. Department of State in Memory of His Son | Office of Media Relations | The George Washington University". Mediarelations.gwu.edu. 2013-06-18. Retrieved 2016-10-24.
  16. ↑ "General Colin L. Powell Letter | News | Ben Gupta Living Memorial". Bengupta.org. Retrieved 2016-10-24.
  17. ↑ "Who Is Vinod Gupta? |". Americanlibertyreport.com. 2014-06-20. Retrieved 2016-10-24.
  18. 1 2 Anand, Priya. "Mix of drug, alcohol led to death of law student". The GW Hatchet. Retrieved 2016-10-24.
  19. ↑ "Legacy | Ben Gupta Living Memorial". Bengupta.com. Retrieved 2016-10-24.
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