Gautam Adani gives a tenth of his networth to charity, Azim Premji is impressed

• Gautam Adani, India’s richest man, has pledged to donate ₹60,000 crore towards charity.
  
• The charitable efforts will be under the trusteeship of the Adani Foundation, and the group says it will enlist sectoral experts to take its efforts forward.
  
• Azim Premji, one of the most philanthropic persons in India, praised Adani for his efforts.
  

Gautam Adani, the richest Indian man, has pledged ₹60,000 crore towards charity. That’s a tenth of his total net worth. This pledge was made on Adani’s 60th birthday, and will be used for a range of social causes.

The group said that the corpus will be used towards healthcare, education and skill development – all of which are tax-deductible. The Adani Foundation will be holding this corpus as a trustee, and is likely to be partly funded by transferring the stake of promoters in the seven listed companies of the Adani group.

According to Bloomberg Billionaires Index and Forbes, Gautam Adani’s networth is around $93-95 billion.

Adani received praise from Azim Premji, the founder chairman of Wipro and the Czar of Indian IT. A noted philanthropist himself, Premji praised Adani for pledging his wealth at the “peak of business success”, pointing at the substantial contribution to charity by the Adani group.

“The challenges and possibilities of our country demand that we work together as one, cutting across all divides of wealth, region, religion, caste, and more. I wish Gautam Adani and his Foundation the very best in this important national endeavour,” Premji added.

Philanthropy is an effort to help and support social welfare causes by way of donations – in money and kind. Most of Indian CSR and charity causes are guided towards education for underprivileged children, the health and development of women and children from backward areas and communities, and skill building amongst youth.

Premji is also the Czar of charity

For the last two decades, Azim Premji has made a large contribution towards various causes that need attention, in India. He set up the Azim Premji Foundation back in 2001, and has since worked with over 3.5 lakh schools across the country.

Premji has also been the biggest philanthropist in India by far, despite not being the richest Indian. In the last two years, he donated over ₹17,600 crore (approx. $2.25 billion at today’s rates) – ₹9,713 crore in 2021 and ₹7,904 crore in 2020. It also made a dent into his personal wealth over the year, in spite of being the head of one of India’s largest IT companies, Wipro.

For comparison, in 2021, HCL Tech’s Shiv Nadar donated ₹1,263 crore while Mukesh Ambani donated ₹577 crore.

Gautam Adani could follow in the footsteps of Premji in his philanthropy efforts, stated a report by the Economic Times, quoting an unnamed source, without going into detail as to how exactly this will be done.

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