On Turning 60, Gautam Adani Pledges $7.7 Billion for Social Causes

At 60, Gautam Adani pledges $7.7 billion for social causes

Gautam Adani has added just over $15 billion to his net worth this year. (FILE)

Asia’s richest person Gautam Adani and his family have pledged to donate $7.7 billion (Rs 60,000 crore) to a range of social causes to mark his 60th birthday.

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.

The 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.

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.

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