Naresh Goyal (born 29 July 1949) is a non-resident Indian (NRI) businessman and founder Chairman of Jet Airways. He started operating Jet Airways in 1993 with initial seed money from Tail Winds incorporated, Isle of Man. Following the 2005 IPO of Jet Airways, Forbes magazine declared him the 16th richest person in India, with a net worth of . He currently does not feature on the Forbes list. Early life Naresh Goyal was born in Sangrur, Punjab in 1949 in the house of a jewellery dealer. His father died when he was a child. He studied up to sixth standard at Govt. Raj High School for Boys. When he was eleven years old, his family went through an economic crisis and his house was auctioned. He then lived with his mother's uncle. Goyal holds a Bachelors of Commerce degree from Govt. Bikram College of Commerce, Patiala. Career In 1967, Goyal began his career as a cashier in his maternal uncle Seth Charan Das Ram Lal's travel agency, East West Agencies, at a starting salary of Rs 300 a month. After graduating in Commerce, Goyal joined the travel business with the GSA for Lebanese International Airlines. From 1967 to 1974, he underwent extensive training in the travel business through his association with several foreign airlines. He travelled overseas extensively on business during this period. In 1969, he was appointed the public relation manager of Iraqi Airways and from 1971 to 1974 was the regional manager for ALIA, Royal Jordanian Airlines. He also worked with the Indian offices of Middle East Airlines (MEA), where he gained experience in various areas including ticketing, reservations and sales. in 1974, with £500 from his mother, he set up his own agency named Jetair, representing the likes of Air France, Austrian Airlines and Cathay Pacific. In 1975, he was appointed regional manager of Philippines Airlines in India. Naresh Goyal stepped down from the Board of Jet Airways along with his wife Anita Goyal on 25 March 2019 amid financial crisis in the airline and after two-thirds of fleet grounded. He was stopped from flying away in 2019 Money Laundering In September 2019, the Enforcement Directorate questioned Goyal for investigating charges of foreign exchange violation against him. He was detained and questioned for money laundering by the ED in 2020. Jet Airways In 1993, Goyal took advantage of the opening of the Indian economy by the Congress