Azim Premji tops in Hurun India philanthropy listing

India CSR News Netowrk

MUMBAI: The Hurun Research Institute today released the Hurun India Philanthropy List 2015, a ranking of the most generous individuals from India. Donations were measured by the value of their cash or cash equivalent from 1 November 2014 to 31 October 2015. This is the third year of the list and it follows on from the Hurun India Rich List, a ranking of the 296 richest individuals in India, released in September for the third year running.

With the same cut-off as last year of Rs 10 Cr, the Hurun India Philanthropy List has 36 individuals, down by 14 from last year.

Azim Hashim Premji (70) the most generous Indian of the year donated INR 27,514 Cr for education. The Azim Premji foundation is working for empowering education in India.” A girl child who is even a little bit educated is more conscious of family planning, health care and, in turn, her children’s own education”, he says. The foundation works in 8 states and has more than 350,000 schools.

Nandan (60) and Rohini Nilekani (56) take the second spot in the list with a contribution of INR 2,404 Cr. Nandan Nilekani is an Indian entrepreneur, bureaucrat and politician. He left Infosys and joined Unique Identification Authority of India (UIDAI) as the chairman. Although developing entrepreneurship ecosystem has been their primary area of interest, they are also involved in social & rural development and education in India.  Rohini Nilenkani is the chairperson and founder of Arghyam, an organisation that grants funds to implement and manage ground water and sanitations projects in India.

NR Narayana Murthy & family (69) Nagavara Ramarao Narayana Murthy, an IT industrialist, donated INR 1,322 Cr for encouraging entrepreneurship, social development and education. He says “The real power of money is the power to give it away.”

Mukesh Ambani (58) of Reliance Industries is sixth in Hurun India Philanthropy List. Ambani, the richest man in India, donated INR 345 Cr 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.

K Dinesh (61) retired from Infosys in 2011. K Dinesh has been actively involved in philanthropic ventures in education, entrepreneurship encouragement and healthcare. With donations of INR 1,238 Cr Dinesh shot into the top ten for the first time.

Shiv Nadar (70), promoter of India’s fourth-largest software company donated INR 525 Cr to various charitable activities through the Shiv Nadar Foundation. “Samudhay” an initiative to develop a replicable model of development for villages across five critical parameters – education, employability, health, infrastructure and water – is the dream project of the chairman of $6.3 billion HCL Technologies.

“I had the opportunity to visit Mr. Nadar’s foundation and university. His mission to impart contemporary education in poorest villages sets a good example for practical philanthropy in India”, said Anas Rahman Junaid, Business Head, Hurun Report India

The Wedding Philanthropy – Dr Ravi Pillai (62) donated INR 12.5 Cr towards conducting mass weddings. This donation coincided with his daughter’s wedding Dr. Arathi Ravi Pillai.

Some other key highlights

The total contribution of top 3 in Hurun India Philanthropy List 2015, shot up by 53% (INR 16,491 Cr) more than previous year.

The philanthropists made their money mainly from the tech sector, also one of the biggest wealth creators on the Hurun India Rich List.

With 6 individuals, Infosys has created the highest number of philanthropists on the list.

Rohan Murthy is a good example of the new generation of Indian philanthropists. His transition from IT professional to philanthropist demonstrates a new wave of philanthropy in India by donated INR 32 Cr towards the education

“Despite weak corporate earnings in 2015 compared to last year, the increasing speed of wealth creation seems to promise a bright future for Indian philanthropy”, said Anas Rahman Junaid, Business Head, Hurun Report India.

However, according to Charity Aid Foundation UK, as per the World Giving Index, India came down in its ranking from 93^rd in 2013 to 106 in 2014, demonstrating an overall reduction in Indian philanthropy.

Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, said “Education is the cause that India’s philanthropists feel they can make the biggest difference in.”

Tables & Stats:

Top 10 Philanthropists of 2015

é Increase in Rankings; − Retained Ranking;  ê Down compared with last year; NEW New to the Top 10

Source: Hurun India Philanthropy List 2015

Favored Philanthropic Causes:

Source: Hurun India Philanthropy List 2015

Geographical Spread

Source: Hurun India Philanthropy List 2015

Methodology:

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 India’s most successful entrepreneurs, including the 300 from the Hurun India Rich List 2015, 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 November 2014 to 31 October 2015. In the event that a pledge has been made, we assume a yearly donation made on average ife expectency.

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, JP Associates in the period made donations of INR 49 Cr, and Jaiprakash Gaur holds 45% of the shares of the company, so Hurun Report recorded Gaur’s donations as INR 22 Cr.

The list includes only individuals born and bred in India regardless of the passport they currently hold. Values are rounded, and past figures are subject to exchange rate fluctuations. 1 USD = 66.74 (Dated on 9-12-15)

IT tycoon Azim Premji is the ‘Most Generous Indian”, donating INR 27,514 Cr36 Indians on the list, down from 50 last year. 12 new entrants and 26 drop outs

With a net worth of INR 9000 Cr, ‘Education King’ Sunny Varkey, 58, joins Gates and Buffett by pledging half his wealth to the ‘Giving Pledge’.

Nandan, Rohini Nilekani & Family, came in second with a donation of INR 2404 Cr, primarily towards the cause of urban governance, public policy and education.

Education remains the most favoured philanthropic cause, accounting for 84% of donations

Led by Azim Premji, South Indians in the list donated more than the North Indians 

Average donation increased from INR 300 crores last year to INR 900 crores this year, mainly on the back of Premji’s donation

With 10 individuals, Mumbai is home to most of the Hurun philanthropists, followed by Bengaluru and Delhi

Anu Aga and Family of Thermax donate 30% of family’s income to their flagship intiative Teach for India Campaign.

With a donation of INR 35 Cr, Rohan Murthy (32) of Infosys is the youngest philanthropist on the list; Oldest being Pallonji Mistry (86) of Shapoorji Pallonji who donated INR 96 crores.

5 do not live in India. Of the non residents, 4 made their donations in India.

Average age of 63 years, one year older than the average age of the Hurun India Rich List 2015.

33 of the Top 36 are also listed in the Hurun India Rich List 2015.