How India’s New Philanthropists Are Working to Bring About Systemic Change (Knowledge@Wharton)
Published: May 19, 2011 in India Knowledge@Wharton
When steel baron Lakshmi Niwas Mittal, then the fifth richest man in the world and the richest Indian, was asked at a media interaction in Mumbai about his views on philanthropy, he had a simple answer. "I am too young for charity," he said. That was in 2006 and Mittal was 55. One year later, it was the turn of his son Aditya, a Wharton alumnus and chief financial officer in his father's empire, to be asked the same question by The Sunday Times of London. Aditya Mittal, then 33, had a slightly different take on the issue. "At some point I may want to do something completely different, like dedicate my life to philanthropy," he said. His plan is to establish a string of health centers in India to reduce infant mortality. Father and son may be based in London now, but when Mittal Jr. gets into giving, it won't be long distance.
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