Zerodha cofounder Nikhil Kamath to donate 50% of his wealth to charity
Nikhil Kamath, Co-Founder, Zerodha
Zerodha co-founder Nikhil Kamath has joined a number of wealthy people around the world in signing the Giving Pledge and pledging to donate 50 percent of his money to charitable causes, such as tackling climate change, advancing education, and improving healthcare.
In 2010, Warren Buffett, Bill Gates, and Melinda French Gates launched the Giving Pledge project.
“I am committed to positively impacting the world. The mission of creating a more equitable society is aligned with my values and aspirations,” Kamath said in his pledge letter.
Kamath is the youngest Indian philanthropist in the Giving Pledge, and the only Indian in this year’s list of signatories.
Other Indians who have signed the pledge in the past include Rohini and Nandan Nilekani, founder of Rohini Nilekani Philanthropies and co-founder of Infosys, respectively. Azim Premji, President of Wipro. Kiran Mazumdar Shaw, CMD, Biocon; Anil Agarwal, Founder and Chairman of Vedanta; PNC and Sobha Menon of Sobha Developers; Healthcare Barons Dr. BR Shetty and Dr. C.R. Shetty.
Nearly 241 philanthropists from 29 countries signed up this year, including LinkedIn co-founder Reid Hoffman, Tesla CEO Elon Musk, and Canva founders Melanie Perkins and Cliff Obrecht.
Kamath, along with his brother and co-founder of Zerodha Nithin Kamath, donated Rs 100 crore of personal wealth in 2022, according to the EdelGive-Hurun India Philanthropy List 2022, which was a 300% increase over the previous year.
He has launched the Young India Philanthropic Pledge (YIPP), wherein signatories, under the age of 45, will pledge 25 per cent of their wealth with a minimum spending of Rs 1 crore per annum.
The brothers announced, in 2021, that they will pledge a quarter of their personal wealth to charity, with plans to give back Rs 750 crore over the next three years.
First published: Jun 06 2023 | 11:56 p.m ist