Rajasthan Royals sold for Rs 13,600 crore to US-based entrepreneur: Report

HT.com earlier reported that Somani has received backing from American businessman Rob Walton, of the Walmart family, and the Hamp family, which also has majority stakes in the NFL's Detroit Lions. As a result of this sale, the Royals have become the first IPL team to be sold for more than $1 billion.

Kal Somani is a US-based entrepreneur with over 15 years of experience across sectors, including education technology, artificial intelligence, data privacy and sports technology. According to his LinkedIn profile, he is based in Scottsdale, Arizona, and has built and led multiple ventures focused on emerging technologies and governance frameworks.

He has founded companies such as IntraEdge, a global technology services firm, as well as Truyo and Truyo.AI, which focus on privacy compliance and AI governance. He is also behind Academian, an education technology platform.