The Bharti Family, owners of telecom heavyweight Airtel on Thursday pledged a part of their personal wealth for philanthropic purposes. The Family has decided to pledge 10 per cent of their wealth, including 3 per cent of their stake in group flagship Bharti Airtel, towards supporting the activities of Bharti Foundation, the Group’s philanthropic arm. Their contribution amounts to Rs 7,000 crore.
“We feel grateful every day for our good fortune and feel the instinctive and overwhelming urge to give back to the society and create opportunities for others. Bharti Foundation has done some exceptional work for uplifting the underprivileged and it stands out as a shining example of how professionally managed development arms of businesses can build innovative and sustainable models,” said Sunil Bharti Mittal, founder and chairman Bharti enterprises.
The Bharti foundation also announced a major initiative of setting up Satya Bharti University. The University will have a strong focus on future technologies like AI, Robotics, AR/VR and IoT in addition to offering degrees in Electrical & Electronics Engineering and Management. It will be a non-profit centre of excellence and will offer free education to a large number of deserving youth from economically weaker sections.
It will also promote and fund advanced research with global linkages. It intends to add leading global industry partners, i.e. Facebook, Google, Apple, Microsoft and SoftBank among others.
Recently, Infosys Chairman Nandan Nilekani and his wife Rohini Nilekani pledged to give half of their wealth under the 'Giving Pledge’. The 'Giving Pledge' was created by Bill and Melinda Gates and Warren Buffet in August 2010 to encourage billionaires to dedicate the majority of their wealth for philanthropy.
The Nilekanis were the fourth among Indians to sign up for the 'Giving Pledge' after Wipro chairman Azim Premji, Biocon chairman Kiran Mazumdar-Shaw and Sobha Developers Chairman Emeritus PNC Menon.
