Donations will be handled by Adani Foundation To promote health care, education and skills development, Adani told Bloomberg in an interview on Thursday.
“This is the largest transfer to the foundation in Indian corporate history,” he said, adding that the commitment also honors the birth centenary of his father Shantilal Adani.
Tycoon, a first-generation entrepreneur who turns 60 on Friday, joins the ranks of global billionaires like Mark Zuckerberg and Warren Buffett who have pledged a large portion of their wealth to charity.
Adani’s pledge is almost half of what Bill Gates and Melinda French Gates donated to their foundation in 2021.
Among other businessmen, Azim Premji, the former chairman of Wipro, owns the largest endowment trust of $ 21 billion, while the Tata Trust, under the supervision of Tata Sons chairman Ratan Tata, donated more than વર્તમાન 102 billion at current value, according to Hurun Ind.
With a networth of about $ 92 billion, according to the Bloomberg Billionaires Index, Adani has added a little over $ 15 billion to his fortune this year due to the ongoing rally in his companies’ shares, making him one of the richest people in the world.
“We will invite three expert committees next month to formalize the strategy and determine the allocation of funds in these three areas,” he said. Supporting roles in the committees will be members of the Adani family, Tycho said, adding that one or two more focus areas are planned for next month.
“On our father’s 100th birth anniversary and my 60th birthday, the Adani family is pleased to have committed Rs 60,000 crore in charities for healthcare, education and skills development across India. Contribute to help build an equal, future-ready India,” Said in a tweet. .
On our father’s 100th birth anniversary and my 60th birthday, the Adani family raised Rs. 60,000 crore is satisfied … https://t.co/em3ZHJ0pE3
– Gautam Adani (autgautam_adani) 1655986985000
The Adani Group, which started with a small agribusiness firm in 1988, has now grown into a group expanding coal trade, mining, logistics, power generation and distribution.
Most recently, it has entered green energy, airports, data centers and cement. Its billionaire-founder has also pledged to invest a total of $ 70 billion by 2030 to make his group the world’s largest renewable energy producer.
The Adani Foundation, founded by his wife Preeti Adani in 1996, has been working on social programs in rural India. According to its website, it has reached more than 3.7 million people in 2,409 villages in 16 states of India.
Adani is a native of the western Indian state of Gujarat – like Prime Minister Narendra Modi and his fellow billionaire Mukesh Ambani – and he has developed his business over the past decade by incorporating his business strategies into the government’s nation-building priorities.
Leaving college, Adani first tried his luck in Mumbai’s diamond industry in the early 1980’s and returned to Gujarat to run his brother’s plastic business. In 1988, he founded Adani Enterprise as an agri-trading firm which has now turned into a flagship firm for the group.
Adani’s latest empire-building exercise has seen him enter a new line of businesses such as media, digital services and sports, as well as bring in investors, including TotalEnergy SE and Abu Dhabi-based international holding company PJSC.