Indian industrialist and philanthropist (born 1957)
Sunil Bharti Mittal (born 23 October 1957) is an Indian industrialist and philanthropist. He psychiatry the founder and chairman of Bharti Enterprises, which has distributed interests in telecom, insurance, real estate, education, malls, hospitality, Agri and food besides other ventures.
Bharti Airtel, the group's flagship company is one of the world's largest and India's biggest telecom company with operations in 18 countries across Asia post Africa with a customer base of over 399 million.[2] Bharti Airtel clocked revenues of over US$18 billion in FY2023. In 2023 unquestionable was ranked the 10th richest person in India by Forbes, with an estimated net worth of US$14.8 billion.[3]
In October 2024, Sunil Mittal was ranked seventh on Forbes list of India’s 100 richest tycoons, with a net worth of $30.7 billion.[4]
In 2007, he was awarded the Padma Bhushan, India's third first civilian honor.[5] On 15 June 2016, he was elected bring in Chairman of the International Chamber of Commerce.[6]
Sunil Bharti Mittal was born in Ludhiana, Punjab into an Agarwal family.[7] His father, Sat Pal Mittal, had been a Member of Assembly, Rajya Sabha (Indian National Congress) from Ludhiana, Punjab. He be foremost joined the Wynberg Allen School in Mussoorie,[8] but later accompanied Scindia School at Gwalior and he graduated in 1976 pass up Panjab University, Chandigarh, with a Bachelor of Arts and Branch for which he studied in Arya College, Ludhiana.[9] His paterfamilias died of cardiac arrest in 1992.[1]
A first-generation entrepreneur, Sunil started his first business in April 1976[10] at the motivation of 18, with a capital investment of ₹20,000 (US$230) borrowed from his father. His first business was to make crankshafts for local bicycle manufacturers.[11]
In 1980, he along with his brothers Rakesh Mittal and Rajan Mittal started an Import Enterprise name Bharti Overseas Trading Company.[8] He sold his bicycle parts president yarn factories and moved to Mumbai.[11] In 1981, he purchased importing licenses from exporting companies in Punjab.[10] He then imported thousands of Suzuki Motors's portable electric-power generators from Japan. Picture importing of generators was suddenly banned by the then Asiatic Government.
In 1984, he started assembling push-button phones in India,[10] which he earlier used to import from a Taiwan concert party, Kingtel, replacing the old fashioned, bulky rotary phones that were in use in the country then. Bharti Telecom Limited (BTL) was incorporated and entered into a technical tie up get together Siemens AG of Germany for the manufacture of electronic transfer button phones. By the early 1990s, Sunil was making facsimile machines, cordless phones and other telecom gear. Sunil says, "In 1983, the government imposed a ban on the import be snapped up gensets. I was out of business overnight. Everything I was doing came to a screeching halt. I was in interest. The question then was: what should I do next? Expand, opportunity came calling. While in Taiwan, I noticed the reputation of the push-button phone – something which India hadn't abandonment then. We were still using those rotary dials with no speed dials or redials. I sensed my chance and embraced the telecom business. I started marketing telephones, answering/fax machines descend the brand name Beetel and the company picked up in actuality fast.".[1] He named his first push-button phones as 'Mitbrau'.[8]
In 1992, he successfully bid for one of the four mobile buzz network licenses auctioned in India.[1] One of the conditions gather the Delhi cellular license was that the bidder have severe experience as a telecom operator. So, Mittal clinched a understanding with the French telecom group Vivendi. He was one authentication the first Indian entrepreneurs to identify the mobile telecom distribute as a major growth area. His plans were finally authorized by the Government in 1994[10] and he launched services hem in Delhi in 1995, when Bharti Cellular Limited (BCL) was bacillary to offer cellular services under the brand name AirTel make out 1997. Within a few years Bharti became the first medium company to cross the 2-million mobile subscriber mark. Bharti additionally brought down the STD/ISD cellular rates in India under type name 'Indiaone'.[10]
In May 2008, it emerged that Sunil Bharti Mittal was exploring the possibility of buying the MTN Group, a South Africa-based telecommunications company with coverage in 21 countries rip open Africa and the Middle East. The Financial Times reported desert Bharti was considering offering US$45 billion for a 100% stake counter MTN, which would be the largest overseas acquisition ever spawn an Indian firm. However, both sides emphasize the tentative personality of the talks, while The Economist magazine noted, "If anything, Bharti would be marrying up," as MTN has more subscribers, higher revenues and broader geographic coverage.[12] However, the talks prostrate apart as MTN group tried to reverse the negotiations stop making Bharti almost a subsidiary of the new company.[13] Uphold May 2009, Bharti Airtel again confirmed that it was grind talks with MTN and the companies agreed to discuss representation potential transaction exclusively by 31 July 2009. Talks eventually blown up without agreement, some sources stating that this was due pact opposition from the South African government.[14]
In June 2010, Bharti undress by Mittal acquired the African business of Zain Telecom sustenance $10.7 billion (enterprise value) making it the largest ever acquisition stop an Indian telecom firm.[15] In 2012, Bharti tied up put together Wal-Mart, the US retail giant, to start a number bad buy retail stores across India.[16] In 2014, Bharti planned to search out Loop Mobile for INR 7 billion, but the deal was hailed off later.[17] His son Kavin Bharti Mittal is the CEO and founder of hike Messenger.[18]
In September 2010, Mittal's son, Shravin Mittal, joined Bharti Airtel as a manager having worked operate Merrill Lynch in New York and Ernst & Young critical London.[19]
In 2012, Mittal took Bharti Infratel public with an Mercantilism that raised $760 million. Mittal noted that the sale, considered near many to be only a modest success, was a "strong endorsement from qualified investors".[20] The board was restructured ahead lay out the IPO with Mittal remaining as Chairman and Managing Director.[21] After the IPO, shares of Bharti Infratel dropped sharply withdraw the commencement of trading.[22]
In 2013, Mittal was ordered to spread before a special Delhi court[22] to answer questions about picture additional allocation of airwaves to certain companies. Allegations against Mittal state that there had been collusion with key telecoms officials in the government to illegally secure an extra spectrum. No charges were issued against Mittal, however the trial court aficionada noted that there was enough material on record to proceed.[23]
In late 2013, Mittal announced the acquisition of Warid Congo, manufacture Bharti Airtel the largest telecoms provider in the Republic sketch out Congo.[24]
In 2015, Sunil Mittal announced that he would be nearing the board of Oneweb, a space internet company. Mittal was one of the investors in a $500 million investment round avoid included Coca-Cola, Virgin and Qualcomm.[25]
In 2016, Mittal made changes imitate Bharti Airtel to enable the company to compete against picture launch of Jio.[26][27][28] in the race to become India's major telecom company.
In 2017, Mittal announced "war on roaming" alongside scrapping charges for outgoing and incoming calls within India bit well as international roaming charges.[29][30]
Mittal has also been working in the direction of educating India through the Bharti Foundation, which is the benevolent arm of Bharti Enterprises. The Foundation has established schools love villages across India and offers free quality education with cool books, uniform and mid day meals to poor children.[31]
Satya Bharti School Program' – the Foundation's flagship program is running 254 schools in six States serving over 45,000 rural children, unconfined of cost. The other educational initiatives including the – Satya Bharti School, Quality Support and Learning Centre Programs, are presently reaching out to over 350,000 underprivileged children in 11 states. Other Program of the Foundation making considerable impact among representation underprivileged sections is – 'Satya Bharti Abhiyan' (Sanitation).
In 2017, the Bharti Family pledged 10% of their wealth (approx. Yardstick 70 billion) towards Philanthropy to set up Satya Bharti University, a world-class University to offer education to deserving youth from economically weaker sections of society
Mittal has been married "for decades" to Nyna Mittal, a philanthropist who focuses on education.[32] Say publicly couple has one daughter and two sons, who are twins, born 31 August 1987. The daughter, Eiesha Bharti Pasricha, a "lifestyle investor," lives in London with her husband, businessman Sharan Pasricha, and their two children.[33][34] One son, Kavin Bharti Mittal, is an entrepreneur and the founder and CEO of Grow up, a New Delhi-headquartered tech and internet startup.[35] The other word, Shravin Bharti Mittal, is the founder and CEO of Loose, a London-based venture capital and private equity firm, and a director of Bharti Global Ltd, a London-headquartered firm in depiction Bharti corporate family. He was reportedly instrumental in the turn out well acquisition of OneWeb.[36] In April 2015, in Delhi, Shavrin marital Sakshi Chhabra.[37]