After the donation, the Nilekanis will join the league of other Indian billionaires like Wipro Chairman Azim Premji, Biocon Chairman & Managing Director Kiran Mazumdar Shaw, and Sobha Ltd Chairman P N C Menon, who already are part of the global movement for philanthropy.
Infosys chairman Nandan Nilekani and his wife Rohini will donate a part of their wealth under Giving Pledge- a movement initiated by Microsoft founder Bill Gates and Melinda Gates.
After the donation, the Nilekanis will join the league of other Indian billionaires like Wipro Chairman Azim Premji, Biocon Chairman & Managing Director Kiran Mazumdar Shaw, and Sobha Ltd Chairman P N C Menon, who already are part of the global movement for philanthropy.
Reports suggest that the Nilekanis' wealth is estimated to be around USD 1.7 billion.
Explaining why the couple is donating to the global movement, in a statement they said, "We see that inequality is increasing sharply in most countries. We see the young and the restless in this interconnected globe, unsure of their future, wanting more but anticipating less. We see a growing politics of polarization, of divisions, of brinksmanship. It is as if the world holds its breath. What should we do at this time? That is a question every citizen must ask. Those of us who have wealth beyond all our wants must ask that very sharply. Wealth comes with huge responsibility and is best deployed for the larger public interest. So what must the super-wealthy do?"
"We thank Bill and Melinda for creating this unique opportunity for so many people to realise a moral aspiration inspired by the Bhagwad Gita- Karmanye Va dhikaraste Ma Phaleshu Kadachana, Ma karma phalaheturbhurma Te Sangostvakarmani," the Nilekanis added. Bill Gates welcomed Nilekanis for their pledge and said: "I'm amazed by how Nandan Nilekani has lent his entrepreneurial passion to philanthropy. I'm delighted to welcome him and his wife Rohini to the Giving Pledge," they added.
The Giving Pledge is an effort to help address society’s most pressing problems by inviting the world’s wealthiest individuals and families to commit to giving more than half of their wealth to philanthropy or charitable causes either during their lifetime or in their will.
The Giving Pledge started with 40 pledgers in the United States in 2010. As of November 2017, there are 171 pledgers from 21 countries:
Australia, Brazil, China (mainland and Taiwan), Cyprus, Germany, India, Indonesia, Israel, Malaysia, Monaco, Norway, Russia, Saudi Arabia, Slovenia, South Africa, Tanzania, Turkey, Ukraine, UAE, the United Kingdom, and the United States.
In the US, they are from 27 states and the District of Columbia.
The idea of Giving Pledge came from the reflections and input generated from many conversations that Bill and Melinda Gates and Warren Buffett had with other philanthropists in the US and abroad.
Earlier, Nandan Nilekani donated money to rebuild the hostel campus of IIT Bombay. He also set up the Indian Institute for Human Settlements with the aim of solving urban challenges for India.
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