Adani Group chairman Gautam Adani, Asia’s richest person, and his family have pledged to donate Rs 60,000 crore to a slew of social causes on the occasion of his 60th birthday. This corpus is managed by the Adani Foundation.
The donation will be administered by the Adani Foundation for strengthening healthcare, education and skills development, Adani told Bloomberg in an interview on Thursday.
“This is one of the largest transfers to a foundation in the history of Indian business,” he said, adding that this pledge also pays tribute to the centenary anniversary of his father, Shantilal Adani.
“To exploit the potential of India’s demographic lead, there is an ever-growing need to focus on the areas of health, education and skills development. The shortcomings in each of these areas are roadblocks to an ‘Atmanirbhar Bharat’. The Adani Foundation has a rich experience working with communities focusing on integrated development efforts in all of these areas. Addressing these challenges can significantly improve the competence and competitiveness of our future workforce,” the Adani Group said in a statement.
“Besides the 100th birthday of my inspiring father, this year also happens to be the year of my 60th birthday and so the family decided to Rs. 60,000 crores for charitable activities related to health, education and skills development, especially in the rural regions of our country,” said Gautam Adani.
The Indian tycoon, a first-generation entrepreneur turning 60 Friday, joins global billionaires such as Mark Zuckerberg and Warren Buffett who have devoted large chunks of their wealth to philanthropy. With a net worth of nearly $92 billion, according to the Bloomberg Billionaires Index, Adani has added just over $15 billion to his net worth this year — the largest gain worldwide, the index shows.
“We will invite three expert committees in the coming months to formalize the strategy and decide on the allocation of funds in these three areas,” he said. The committees will have members of the Adani family in supporting roles, he added.
On our father’s 100th birthday and my 60th birthday, Adani Family is delighted to donate Rs 60,000 cr in charity to healthcare, education and skills development across India. Contribution to help build a just, future-proof India. @AdaniFoundation pic.twitter.com/7elayv3Cvk
— Gautam Adani (@gautam_adani) June 23, 2022
The Adani Group, which started in 1988 as a small agricultural trading company, has now grown into a conglomerate that includes coal trading, mining, logistics, power generation and distribution and more recently green energy, airports, data centers and cement.
“At a very fundamental level, programs covering all these three areas need to be viewed holistically and together they constitute the drivers to build a just and future-proof India. Our experience in planning and executing major projects and the lessons learned The work of the Adani Foundation will help us accelerate these programs in a unique way,” Adani added.
On the occasion, Azim Premji, Chairman of Azim Premji Foundation and Founder Chairman of Wipro Limited and widely recognized as one of the greatest philanthropists of our time, said: “Gautam Adani and his family’s dedication to philanthropy should be an example for all of us to trying to live up to Mahatma Gandhi’s principle of Trusteeship of Wealth at the height of our business success and we don’t have to wait for our sunset years.” He added: “The challenges and opportunities of our country require that we work together as one, cut across all dividing lines of wealth, region, religion, caste and more”.