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Telecom tycoon Mittal pledges over $1bn for philanthropy

Bharti Airtel chief plans to build tech-focused university for underprivileged

Sunil Bharti Mittal, flanked by his brothers, announces on Nov. 23 that the family is earmarking 10% of its wealth for philanthropy. (Photo by Kiran Sharma)

NEW DELHI -- India's telecom tycoon Sunil Bharti Mittal has pledged 10% of his family wealth, which corresponds to 70 billion rupees ($1.08 billion), toward education for the underprivileged. A substantial part of the amount will go into setting up and running a "new-age" science and technology university on the lines of MIT, Stanford and Berkeley.

The personal wealth earmarked for charity, which includes a 3% stake in Bharti Enterprises' flagship company Bharti Airtel, will support the activities of the Bharti Foundation, the group's philanthropic arm, which has focused on the education of disadvantaged children since its inception in 2000.

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