Investor pledges quarter of his wealth

Investor pledges quarter of his wealth

Rakesh Jhunjhunwala, India’s most famous investor, has pledged to give away 25% of his wealth during his lifetime.

He is the fourth Indian businessperson — after Azim Premji, Shiv Nadar and GM Rao — to make a statement of intent to give away a substantial part of their personal wealth to philanthropy.

The 51-year-old says he planned to route all his charity through his R Jhunjhunwala Foundation. He has set a 2020 corpus target of $1 billion (about Rs 4,400 crore) for his foundation, which is currently inactive. “I treat charity as my fourth child and will divide my wealth equally among all my children,” the father of three said.