Anil Agarwal, the billionaire metal tycoon, has announced that he and his family had agreed to give 75% of their fortune to charity, an absorbing figure close to USD 2.6 billion.
Forbes Magazine estimated that the London-based founder and executive chairman of the Indian natural resources giant, Anil Agarwal has a net worth of $3.5 billion, putting him 24th on its list of Indian billionaires.
The magnanimous-minded metals magnate made his announcement as Vedanta, marked the 10th anniversary of its UK stock market listing.
Anil Agarwal, a one-time scrap metal dealer, has an almost 70 percent stake in Vedanta Resources Plc, a diversified metals and mining company with segments including zinc, iron ore, copper, aluminum, power and oil and gas.
“My family supports my decision that 75 per cent of our wealth, which we gain as economic benefit, should be returned to society,” Agarwal said.
“It is important to give back what we earn for the greater good of the society, community programmes that work towards eradication of poverty, child welfare and women empowerment will be our focus for communities at large in our country,” Agarwal, who started off as a scrap dealer in India, said.
So far, 4 Indians have signed The Giving Pledge, Azim Premji of Wipro, Vinod Khosla, Manoj Bhargava, and Romesh Wadhwani.