Shiv Nadar crowned ‘Most Generous Indian’ for the first time
Kris Gopalakrishnan of Infosys shoots into second place with INR 313 Cr donation
Kiran Mazumdar Shaw – the only self made woman philanthropist in the Hurun India Philanthropy List 2016
all, but one of the philanthropists are also listed in the Hurun India Rich List 2016
Hurun Report launches the fourth edition of Hurun India Philanthropy List (28 MARCH 2017, Mumbai)
The Hurun Research Institute today released the Hurun India Philanthropy List 2016, a ranking of the most generous individuals from India. Donations were measured by the value of their cash or cash equivalent from 1 January 2016 to 31 December 2016. This is the fourth year of the list and it follows on from the Hurun India Rich List, a ranking of 339 richest individuals in India, released in September 2016 for the fourth year.
With the same cut-off as last year of INR 10 Cr, the Hurun India Philanthropy List has 27 individuals, down by 9 from last year.
• HCL founder Shiv Nadar (71) tops the Hurun India Philanthropy list with INR 630 Crores donation towards education.
• Infosys co-founder Kris Gopalakrishnan (61) and wife, Sudha Gopalakrishnan came in second with a donation of INR 313 Crores primarily towards healthcare, social development and education.
• Mukesh Ambani (59) of Reliance-The Business Mogul, came in third with a donation of INR 303 Crores made towards causes such as education, rural development, sports , health and has also contributed to Swach Bharat.
• Ajay Piramal (61), donated INR 111 Crores towards education, healthcare rural development and women empowerment.
• Kiran Mazumdar-Shaw (63) of CMD Biocon and the only self-made woman entrepreneur in the list, donated INR 45 Crores to healthcare, education and social development.
• Accounting for 35% of the donations, education remains the most favored philanthropic cause.
• With 10 individuals, Mumbai is home to most of the Hurun philanthropists, followed by Bengaluru and Delhi.
• The average age is 65 years, four years older than the average age of the Hurun India Rich List 2016.
• With a donation of INR 21 Crores, Kumar M Birla (49) of Aditya Birla Group is the youngest philanthropist on the list; eldest being Pallonji Mistry (87) of Shapoorji Pallonji Group who contributed INR 68 Crores.
• With 9 dropouts from the list, Indian philanthropy is at INR 2,334 Crores, with an average donation per philanthropist being INR 86 Crores.
• 18 Self-made and 8 Inherited in the Hurun Philanthropy List 2017
• Only 2 women philanthropists compared to 4 last year.
Shiv Nadar (71): The founder and Chairman of HCL donated INR 630 Crores to various charitable activities through the Shiv Nadar Foundation out of which INR 458 Crores was spent on infrastructure projects i.e. building for additional capacity creation for Shiv Nadar University.
Kris Gopalakrishnan (61): Infosys co-founder, Kris Gopalakrishnan and his wife, Sudha secure second position in the Hurun India philanthropy List and has donated INR 313 Crores through his trust, The Pratiksha Trust, which includes projects in education, healthcare, research and entrepreneurship. They also provide scholarships to medical and engineering students and monthly pensions to senior citizens.
Mukesh Ambani (59): Indian business magnate and the richest Indian is third in Hurun India Philanthropy list. Mukesh Ambani, donated INR 303 Crores towards healthcare. He channelizes his philanthropic initiative through Reliance foundation, his philanthropic arm. The primary aim of the foundation is to promote sustainable growth in India. Besides healthcare, his philanthropic interests include social & rural development and education.
Cyrus S Poonawalla (71): Vaccine billionaire, Cyrus S Poonawalla, who set up Serum Institute has donated INR 250 Crores. The funds raised are used for his philanthropic work, including setting up educational institutes and hospitals. His vision “Health for all with affordable vaccines” is revolutionizing the world saving millions of children around the world.
Rahul Bajaj & family (78): The Indian businessman, politician and philanthropist billionaire has contributed INR 244 Crores through his CSR spending towards Education, Healthcare and Social development.
Ronnie Screwvala (54): The founder of the Swades Foundation and Unilazer Ventures donated INR 160 Crores. The sole purpose of the foundation is to provide livelihood, water and sanitation, education and health.
Ajay Piramal (61): Ajay Piramal donated INR 111 Crores through his philanthropic initiative through Piramal Foundation. It includes activities for education (PFEL), health care (Swasthya), water purification (Sarvajal), rural development (Udgam) and Women Empowerment (Piramal Udgam). Piramal Foundation develops innovative solutions to resolve issues that are critical roadblocks towards unlocking India’s economic potential.
Godrej Family (76): Industrialist, Adi Godrej has contributed INR 74.5 Crores out of which INR 44.60 Crores have been donated through Pirojsha Godrej Foundation and Soonabai Godrej Foundation for causes such as education and medical aid. He has also contributed INR 4.5 Crore in his personal capacity.
Shapoorji Pallonji Mistry (87): Construction Magnate and chairman of Pallonji Group, Shapoorji Pallonji Mistry has made donations for social development, livelihood enhancement, healthcare, education and environment sustainability. His contribution is mainly attributable to the Corporate Social Responsibility (CSR) spending of Tata group companies on account of his 18.40% stake.
Kiran Mazumdar-Shaw (63): The only self-made Indian women entrepreneur, Kiran Mazumdar-Shaw’s personal philanthropy spending is spread across healthcare and education, promoting science, encouraging startups, supporting civic and social issues , encouraging art and artists and other relative areas. She has contributed INR 40 Crores in her personal capacity for the same. Her total philanthropic contribution is INR 45 Crores.
Anas Rahman Junaid, Managing Director and Chief Researcher, Hurun Report India, said “India being a young country would take a few more years before consistent philanthropic donations from the entrepreneurs. We would have missed some of the major donors, however, based on the information received 2016 has been a dull year for Indian philanthropy. If we were to consider the international CSR and philanthropic donations, the list would be much longer”
Other interesting donations:
• Rakesh Jhunjhunwala has pledged INR 5,000 Crore for the welfare of the society. He is often referred to as the India’s Warren Buffet. A big supporter of various Non-Profit organizations and education trusts including Agastya and Ashoka University
• An Indian diamantaire and philanthropic social activist, Laljibhai Patel, has pledged a donation of INR 200 Crore for the welfare of 10,000 girls of the Patidar community. He said an amount of INR 2 Lakh would be transferred to the second daughter born in the Patidar community when they would attain 21 years of age.
Most preferred Philanthropic Cause - 2016:
Education remains the most favored philanthropic cause followed by Healthcare and Social Development. Shiv Nadar is the highest Individual contributor for education and his primary objective is to create a measureable impact in the lives of the children and youth.
With initiatives such as Digital India, rural electrification, Modi government has been pushing the need for overall societal development. Taking advantage of such schemes, the Indian entrepreneurs are investing more into rural areas as part of long term business goals.
Cyrus S Poonawalla’s Clean City vision for Pune has made him contribute INR 130 Crores towards social responsibility and he aspires to make Indian Urban Cities more livable.
“My philanthropic efforts are directed towards building a society, where everyone has equal access to quality healthcare irrespective of person’s economic and social status.” - Kiran Mazumdar-Shaw, CMD Biocon to Hurun Report India
In 2016, there has been a rise of philanthropic contribution towards social and rural development, livelihood enhancement and sanitation; this is led by Mukesh Ambani contributing INR 49.74 Crores towards Social and Rural Development, Cyrus Poonawalla donating INR 130 Crores towards sanitation and Anil Agarwal contributing INR 8.7 Crores towards livelihood enhancement.
Mumbai Top again
With 27 individuals, Mumbai is the capital for India’s Philanthropist, followed by New Delhi and Bengaluru
Comparison of China and India Philanthropy List
The key philanthropists in China are Pony Ma and Chen Yidan from the Tencent Group who contributed $2150m and $615m respectively towards social welfare and education. He Qiaonv, a self-made female billionaire, donated $450m for social development has secured third position in the China Rich List. Despite the difference in number of philanthropists, the primary cause of philanthropy of China and India remains the same.
To put together a comprehensive list of the largest philanthropists of India is an almost impossible task. However, we believe at Hurun Report that, the Hurun India Philanthropy List is the most serious and authoritative effort to date, identifying the individuals and highlighting the causes they donate to.
To make this list, the Hurun Report surveyed 300 of India’s most successful entrepreneurs, including those from the Hurun India Rich List 2016, meticulously cross referencing the results with media reports and charitable foundations. In the course of the research, Hurun Report attended non-profit related seminars, as well as meeting with scholars, experts, philanthropists and senior members of charitable foundations. Hurun Report includes cash and cash equivalents pledged with legally binding commitments for the twelve month period from 1 January 2016 to 31st December 2016.
Hurun Report included donations made by companies in which an individual had a significant share by applying the percentage the individual has of the company on the donations. So, for example, Biocon for the period made donations of INR 8Cr, and Kiran Mazumdar-Shaw holds 60.68% of the shares of the company, so Hurun Report recorded Shaw’s donations as INR 4.92CR.
In 2015, Azim Premji had transferred a significant part of his shareholding amounting to 39% of the shares of Wipro to a trust and foundation, which has been taken into account last year. Since this is a one-time philanthropic donation, it has not been included this year. The list includes only individual born and bred in India regardless of the passport they currently hold. Values are rounded, and past figures are subject to exchange rate fluctuations.