Welcome to the Brown History Newsletter. If you’re enjoying this labour of love, please do consider becoming a paid subscriber. Your contribution would help pay the writers and illustrators and support this weekly publication. If you like to submit a writing piece, please send me a pitch by email at brownhistory1947@gmail.com.
Don’t forget to check out our SHOP and our Podcast.
Rise and Ruin: Unmasking Wall Street’s Immigrant Billionaire
Raj Rajaratnam, a name that once resonated through the corridors of power and Wall Street alike, soared to extraordinary heights while embroiling himself in a web of intrigue and controversy. Born in Colombo, Ceylon (present-day Sri Lanka), a man who started as a lending officer in an investment bank, rose to single-handedly leading his own hedge fund which came to be valued at $9 billion. In 2008, Forbes Magazine called Rajaratnam a “self-made billionaire hedge fund manager” with a net worth of $1.5 billion, increasing to $1.8 billion in 2009. He enjoyed the spot of 236th richest American and the richest Sri Lankan-born individual in the world.
Investments from senior executives and board members of companies such as IBM, Intel, P&G, and McKinsey & Co would reside with Rajaratnam's Galleon Group. One sole individual responsible for managing these substantial funds and multiplying them tenfold. Rajaratnam had a dream of making it big, achieving greatness, making a mark in the financial sector, to succeed no matter what, any means necessary, the American dream. He did reach the glamorous heights of the financial district, he made it big, had it all, luxurious lifestyle, fame, and success, but what was it all standing upon? Was his journey from rags to riches really tainted by the enticing evils of Wall Street?