Winning Bizness Desk
Mumbai: HCL Technologies founder Shiv Nadar has set a new benchmark in philanthropy, surpassing some of India’s wealthiest individuals. In the financial year 2023-24, Nadar donated ₹2,153 crore, a 5% increase from the previous year, according to the EdelGive Hurun India Philanthropy List. His contribution places him at the top of the list, ahead of Reliance’s Mukesh Ambani, who donated ₹407 crore and holds the second spot, and Adani Group’s Gautam Adani, who is fifth with ₹330 crore. The report, released on Thursday, shows that Nadar’s contributions alone exceed the combined philanthropic efforts of other Indian billionaires, including Ambani, Adani, and the Birla family. The Bajaj family, prominent in the automotive and finance sectors, donated ₹352 crore, a 33% increase from last year, securing the third position. Kumar Mangalam Birla and his family contributed ₹334 crore, marking a 17% rise from the previous year, and placed fourth on the list.
A Growing Culture of Giving Among India’s Wealthy
The EdelGive Hurun India report highlights a positive trend of rising philanthropy among the wealthy. This year, 203 individuals donated over ₹5 crore each. The report also noted a 46% increase in the total wealth of 1,539 individuals, each with net worths exceeding ₹1,000 crore. Despite ranking third in terms of total wealth, Nadar’s charitable contributions outshine those of Mukesh Ambani, whose net worth stands at ₹10.14 lakh crore, and Gautam Adani, whose net worth is the highest at ₹11.6 lakh crore. With a wealth of ₹3.14 lakh crore, Nadar demonstrates a strong commitment to philanthropy, setting an example in the business community. The data underscores a significant increase in giving among India’s billionaires, reflecting their growing responsibility to support societal causes and give back to the community.
Who is Shiv Nadar?
Shiv Nadar is an Indian billionaire industrialist, philanthropist, and the founder of HCL Technologies, one of India’s largest IT services companies. Born on July 14, 1945, in Tamil Nadu, Nadar is recognized as a pioneer of the Indian IT industry. His career began with a focus on technology and innovation, and he established HCL in 1976 as a hardware company, which eventually evolved into a global IT services provider. HCL is now among the top technology companies in India and operates in more than 40 countries worldwide.
