The Billionaire's Apprentice: The Rise of The Indian-American Elite and The Fall of The Galleon Hedge Fund

Overview

Just as WASPs, Irish-Catholics and Our Crowd Jews once made the ascent from immigrants to powerbrokers, it is now the Indian-American's turn. Citigroup, PepsiCo and Mastercard are just a handful of the Fortune 500 companies led by a group known as the "Twice Blessed." Yet little is known about how these Indian emigres (and children of emigres) rose through the ranks. Until now...

The collapse of the Galleon Group—a hedge fund that managed more than $7 billion in assets—from ...

See more details below
Hardcover
$18.85
BN.com price
(Save 35%)$29.00 List Price

Pick Up In Store

Reserve and pick up in 60 minutes at your local store

Other sellers (Hardcover)
  • All (35) from $5.24   
  • New (22) from $5.24   
  • Used (13) from $5.60   
The Billionaire's Apprentice: The Rise of The Indian-American Elite and The Fall of The Galleon Hedge Fund

Available on NOOK devices and apps  
  • NOOK Devices
  • Samsung Galaxy Tab 4 NOOK
  • NOOK HD/HD+ Tablet
  • NOOK
  • NOOK Color
  • NOOK Tablet
  • Tablet/Phone
  • NOOK for Windows 8 Tablet
  • NOOK for iOS
  • NOOK for Android
  • NOOK Kids for iPad
  • PC/Mac
  • NOOK for Windows 8
  • NOOK for PC
  • NOOK for Mac
  • NOOK for Web

Want a NOOK? Explore Now

NOOK Book (eBook)
$14.99
BN.com price

Overview

Just as WASPs, Irish-Catholics and Our Crowd Jews once made the ascent from immigrants to powerbrokers, it is now the Indian-American's turn. Citigroup, PepsiCo and Mastercard are just a handful of the Fortune 500 companies led by a group known as the "Twice Blessed." Yet little is known about how these Indian emigres (and children of emigres) rose through the ranks. Until now...

The collapse of the Galleon Group—a hedge fund that managed more than $7 billion in assets—from criminal charges of insider trading was a sensational case that pitted prosecutor Preet Bharara, himself the son of Indian immigrants, against the best and brightest of the South Asian business community. At the center of the case was self-described King of Kings, Galleon's founder Raj Rajaratnam, a Sri-Lankan-born, Wharton-educated billionaire. But the most shocking allegation was that the éminence grise of Indian business, Rajat Gupta, was Rajaratnam's accomplice and mole. If not for Gupta's nose-to-the-grindstone rise to head up McKinsey & Co and a position on the Goldman Sachs board, men like Rajaratnam would have never made it to the top of America's moneyed elite.

Author Anita Raghavan criss-crosses the globe from Wall Street boardrooms to Delhi's Indian Institute of Technology as she uncovers the secrets of this subculture—an incredible tale of triumph, temptation and tragedy.

Read More Show Less

Editorial Reviews

Publishers Weekly
Enron, Lehman Brothers, Bernie Madoff—it’s clear that corruption and venality are de rigueur at the highest ranks of the financial services industry. Financial journalist Raghavan knows this as well as anyone, making her exhaustive account of the self-destruction of Raj Rajaratnam and Rajat Gupta all the more confusing. Though the narrative is fast-paced, the point of the book is uncertain. The utter ubiquity of Gupta’s misbehavior at the Galleon Group, spectacularly expensive to the company as it was, does not make his story particularly remarkable. Ostensibly about the integration of Indian immigrants into the upper echelons of American society, the book barely mentions that topic, and the nationality of Rajaratnam (Sri Lankan, not Indian), Gupta, and their associates seems an extraneous detail. By focusing on the unsurprising chummy backscratching, avaricious dealing, and boundless sense of entitlement in this world, Raghavan barrels past promising side roads. For example, the fact that “a previous insider trading accusation into Rajaratnam… was squashed because a criminal probe into his possible involvement with a Tamil insurgent group had taken precedence” is treated as an unfortunate distraction. Agent: Shawn Coyne, Genre Management. (June)
From the Publisher
I've always wondered how Indian-Americans came out of nowhere to become a force in the business establishment, The Billionaire's Apprentice explains that meteoric rise, but it is also a page-turning cops and robbers story set against the backdrops of Silicon Valley and Wall Street.

—Adam Lashinsky, bestselling author of Inside Apple: How America's Most Admired-and Secretive-Company Really Works

Thanks to author Anita Raghavan's intrepid reporting, The Billionaire's Apprentice combines the drama of the federal government unraveling an insider trading ring with the historical sweep of immigrants rising from nothing to the corridors of corporate power.

— Bethany McLean, co-author of the bestsellers The Smartest Guys In the Room and All the Devils Are Here

Anita Raghavan's journalistic and writing skill comes through on every page of THE BILLIONAIRE'S APPRENTICE. I couldn't put it down; it's a true story that reads like a thriller.

—William D. Cohan, bestselling author of The Last Tycoons, House of Cards, and Money and Power

THE BILLIONAIRE'S APPRENTICE is that rare work of nonfiction that follows an ambitious hero as he climbs to the pinnacle of power inside the top boardrooms of corporate America, gets seduced, and falls in a spectacular insider trading scandal. This is a modern-day Greek tragedy that plays out among the upper echelons of Wall Street, Silicon Valley, and the global business elite. Doggedly reported and utterly compelling.

—Bryan Burrough, bestselling author of Barbarians at the Gateand The Big Rich

Raghavan excels with her account.... She provides an insightful account of South Asian immigration to the U.S. since the 1960s and shows how relations established in India's elite education system provided some of the ties that bound the conspirators together.

— Kirkus

Through meticulous research, copious history, vivid characters, and entertaining prose, Raghavan weaves together many different worlds, eras, and personality types to deliver a compelling view of the multi-cultural politics of today's Wall Street.

— Huffington Post

Riveting.

—Bloomberg

The best form of journalism, an early draft of history.

— The New York Times Book Review

Anita Raghavan's 'The Billionaire's Apprentice,' [is] a riveting account of the takedown of Raj Rajaratnam...[Ms. Raghavan] has written a briskly paced account full of fascinating detail...this book deserves to be on the shelf of anyone lusting after a little Wall Street schadenfreude this summer.

— WSJ

[a] deeply researched, fascinating and well-written book.

— Financial Times

In "The Billionaire's Apprentice," Raghavan provides readers with the best account yet of Rajaratnam and his Indian American "mafia" - who they were, what they did and how they did it.

— The Washington Post

The New York Times Book Review - Frank Partnoy
…the guts of [The Billionaire's Apprentice] are the best form of journalism, an early draft of history…the overall picture of Wall Street that emerges is more diverse and complex than the prevailing image of a decade ago.
Kirkus Reviews
Financial journalist Raghavan debuts with this account of the international web of insider trading at Raj Rajaratnam's Galleon hedge fund. The author traces the precedent-setting prosecution and May 2011 conviction of Rajaratnam, whose 11-year jail term is the longest awarded in an insider trading case to date, from its unlikely beginnings in an investigation of his younger brother's hedge fund. For the first time, wiretaps were used to secure convictions in such a case, and Raghavan excels with her account of how the targets for taps were sifted out of more than 4 million pages of documentation over the three-year investigation. The process she reports at both the SEC and the U.S. Attorney's office becomes compelling as the pieces of the case are identified and potential witnesses recruited. Raghavan compiled more than 200 interviews and traveled extensively in her quest to assemble the narrative. She provides an insightful account of South Asian immigration to the U.S. since the 1960s and shows how relations established in India's elite education system provided some of the ties that bound the conspirators together. Rajaratnam and his accomplices--mainly Rajat Gupta, a former head of the McKinsey consulting company and board member at Goldman Sachs--were also highflying associates of top political and corporate circles in both India and the U.S. Gupta, in particular, frequented quarters where significant decisions were made about outsourcing U.S. economic activity. Rajaratnam's accomplices at Intel and Advanced Micro Devices provided the information necessary to build his reputation as an expert in technology and produce spectacular financial gains. Compelling in its specificity and intriguing in its portrayal of leading financial institutions and their malfeasance.
Read More Show Less

Product Details

  • ISBN-13: 9781455504022
  • Publisher: Grand Central Publishing
  • Publication date: 6/4/2013
  • Pages: 493
  • Sales rank: 204,640
  • Product dimensions: 6.50 (w) x 9.12 (h) x 1.62 (d)

Meet the Author

Anita Raghavan was born in Malaysia but came to the United States in 1970. A graduate of the University of Pennsylvania, she spent eighteen years at the Wall Street Journal where she won the Overseas Press Club award for her coverage of the mergers and acquisition boom in Europe, and the New York Press Club award for her reporting on the the near death of the hedge fund Long-Term Capital. In 2008, she became the London Bureau Chief for Forbes. Currently she is a contributor to New York Times Dealbook and Forbes.

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)