Bharti Pledges $1.1bn to Boost Philanthropy

The Bharti Family, which has built one of India’s leading business enterprises, and operates Bharti Airtel telecommunications company in different countries of the world, including Nigeria, yesterday pledged 10 per cent of their personal wealth for philanthropic purposes, which includes the setting up of Satya Bharti University, a world-class University to offer free education to deserving youth from economically weaker sections of society.

The family decided to pledge 10 per cent of their wealth, including three per cent of their stake in group flagship Bharti Airtel, towards supporting the activities of Bharti Foundation, the group’s philanthropic arm, which is one of the few professionallymanaged philanthropic bodies in India.

With the commitment, the Family envisions to significantly step up the scope and reach of Bharti Foundation’s activities, and further enable the Foundation to develop and execute innovative development models to support the aspirations of India’s underprivileged including students of Satya Bharti Schools.

Announcing the commitment, the Founder and Chairman, Bharti Enterprises and Chairman, Bharti Foundation, Sunil Bharti Mittal, said, “Today is a major milestone in the journey of the Bharti Family. Being first generation entrepreneurs, we feel absolutely privileged that this nation gave us the opportunity to imagine and build world-class businesses. Bharti’s DNA has always been about creating a deep positive impact on society through our businesses, and we are proud to have contributed to the India growth story.”

According to him, “As firm believers in Mahatma Gandhi’s concept of Trusteeship, we have always reckoned that ownership of business is a social responsibility, and wealth creation cannot be an end in itself.