Indian telecom baron Sunil Bharti Mittal will donate 10% of his family's wealth, or some 70 billion rupees (approximately $1.08 billion), to fund education for the underprivileged. A large part of this amount will be used to set up and run a science and technology university modeled along the lines of U.S. institutions as MIT, Stanford and Berkeley.
These funds will be used to support the activities of the Bharti Foundation, the group's philanthropic arm, which has focused on providing education for disadvantaged children since its inception in 2000.
Mittal, accompanied by his brothers, Rakesh and Rajan, announced the move on Nov. 23. The new Satya Bharti University for Science and Technology, he said, will complement the foundation's existing primary and secondary education programs.
While the bulk of the 70 billion rupees will go towards setting up and running the university, the bequest will also be used to help the foundation expand its primary and secondary school programs.
The university's first courses will start in 2021, and in five years it plans to be a fully fledged university, Mittal said.
Image courtesy - The Guardian
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