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Business News/ Politics / Policy/  Vedanta’s Anil Agarwal to donate most of wealth after meeting Bill Gates
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Vedanta’s Anil Agarwal to donate most of wealth after meeting Bill Gates

Anil Agarwal has a fortune of $3.3 billion that includes an almost 70% stake in London-listed mining and energy group Vedanta

Anil Agarwal says life is not only about wealth. Photo: MintPremium
Anil Agarwal says life is not only about wealth. Photo: Mint

Singapore: Anil Agarwal, the billionaire founder of Vedanta Resources Plc, said he and his family decided to donate 75% of their wealth to charity after meeting Bill Gates, the world’s richest person.

Agarwal has a fortune of $3.3 billion that includes an almost 70% stake in London-listed mining and energy group Vedanta, according to the Bloomberg Billionaires Index. Gates, the co-founder of Microsoft Corp., has a fortune valued at $84.7 billion.

“What we earn must be returned for the greater good of society," the 62-year-old said at an event on Thursday to celebrate the 10th anniversary of Vedanta’s listing on the London Stock Exchange. “Life is not only about wealth."

Interest in charitable giving is growing in Asia. In 2013, Azim Premji, chairman of Bangalore-based software exporter Wipro Ltd, became the first Indian to join the Giving Pledge programme, which seeks to encourage the world’s wealthiest people to give away half of their wealth to charity.

The programme was founded by Gates and US investor Warren Buffett, the world’s 3rd-richest person with $67.3 billion, according to the index.

Agarwal said Gates and his wife, Melinda, discussed their philanthropic causes with him in Seattle last summer.

“After that, I had a meeting with my family and we decided to donate 75% of our wealth," the Indian billionaire said. Bloomberg

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Published: 26 Sep 2014, 03:26 PM IST
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