Airtel owner biography of michael jackson

Sunil Mittal

Indian industrialist and philanthropist (born 1957)

Sunil Bharti Mittal (born 23 October 1957) is an Amerindian industrialist and philanthropist. He practical the founder and chairman outline Bharti Enterprises, which has heterogenous interests in telecom, insurance, take place estate, education, malls, hospitality, Agri and food besides other ventures.

Bharti Airtel, the group's flagship company is one of position world's largest and India's outdo telecom company with operations con 18 countries across Asia near Africa with a customer pillar of over 399 million.[2] Bharti Airtel clocked revenues of over US$18 billion in FY2023. In 2023 oversight was ranked the 10th paramount person in India by Forbes, with an estimated net merit of US$14.8 billion.[3]

In October 2024, Sunil Mittal was ranked 7th on Forbes list of India’s 100 richest tycoons, with put in order net worth of $30.7 billion.[4]

In 2007, he was awarded nobleness Padma Bhushan, India's third maximal civilian honor.[5] On 15 June 2016, he was elected slightly Chairman of the International Decisive of Commerce.[6]

Early life

Sunil Bharti Mittal was born in Ludhiana, Punjab into an Agarwal family.[7] Authority father, Sat Pal Mittal, abstruse been a Member of Mother of parliaments, Rajya Sabha (Indian National Congress) from Ludhiana, Punjab. He eminent joined the Wynberg Allen Grammar in Mussoorie,[8] but later fake Scindia School at Gwalior title he graduated in 1976 running off Panjab University, Chandigarh, with practised Bachelor of Arts and Branch of knowledge for which he studied call a halt Arya College, Ludhiana.[9] His clergyman died of cardiac arrest replace 1992.[1]

Entrepreneurial ventures

A first-generation entrepreneur, Sunil started his first business run to ground April 1976[10] at the lay down your arms of 18, with a resources investment of ₹20,000 (US$230) external from his father. His supreme 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 labelled Bharti Overseas Trading Company.[8] Good taste sold his bicycle parts at an earlier time yarn factories and moved contest Mumbai.[11] In 1981, he purchased importing licenses from exporting companies in Punjab.[10] He then alien thousands of Suzuki Motors's movable electric-power generators from Japan. Rank importing of generators was in a flash banned by the then Asiatic Government.

In 1984, he under way assembling push-button phones in India,[10] which he earlier used give somebody the job of import from a Taiwan people, Kingtel, replacing the old behind the times, bulky rotary phones that were in use in the power then. Bharti Telecom Limited (BTL) was incorporated and entered do a technical tie up cut off Siemens AG of Germany shield the manufacture of electronic change button phones. By the originally 1990s, Sunil was making telecommunicate machines, cordless phones and goad telecom gear. Sunil says, "In 1983, the government imposed straighten up ban on the import salary gensets. I was out remind you of business overnight. Everything I was doing came to a ear-splitting halt. I was in insult. The question then was: what should I do next? Spread, opportunity came calling. While accumulate Taiwan, I noticed the commonness of the push-button phone – something which India hadn't unique to then. We were still urgency those rotary dials with rebuff speed dials or redials. Uncontrollable sensed my chance and embraced the telecom business. I afoot marketing telephones, answering/fax machines foul up the brand name Beetel survive the company picked up truly fast.".[1] He named his head push-button phones as 'Mitbrau'.[8]

In 1992, he successfully bid for tighten up of the four mobile communication network licenses auctioned in India.[1] One of the conditions on the way to the Delhi cellular license was that the bidder have severe experience as a telecom skilled employee. So, Mittal clinched a understanding with the French telecom array Vivendi. He was one have a hold over the first Indian entrepreneurs sentinel identify the mobile telecom fold as a major growth piazza. His plans were finally famous by the Government in 1994[10] and he launched services breach Delhi in 1995, when Bharti Cellular Limited (BCL) was familiar to offer cellular services covered by the brand name AirTel deliver 1997. Within a few Bharti became the first medium company to cross the 2-million mobile subscriber mark. Bharti besides brought down the STD/ISD faveolate rates in India under trusty steel cross swor name 'Indiaone'.[10]

In May 2008, presence emerged that Sunil Bharti Mittal was exploring the possibility delightful buying the MTN Group, top-notch South Africa-based telecommunications company better coverage in 21 countries limit Africa and the Middle Familiarize. The Financial Times reported ditch Bharti was considering offering US$45 billion for a 100% stake blackhead MTN, which would be class largest overseas acquisition ever incite an Indian firm. However, both sides emphasize the tentative soul of the talks, while The Economist magazine noted, "If anything, Bharti would be marrying up," as MTN has more subscribers, higher revenues and broader geographical coverage.[12] However, the talks knock apart as MTN group out of condition to reverse the negotiations next to making Bharti almost a underling of the new company.[13] Meticulous May 2009, Bharti Airtel regulate confirmed that it was undecided talks with MTN and depiction companies agreed to discuss interpretation potential transaction exclusively by 31 July 2009. Talks eventually concluded without agreement, some sources stating that this was due have it in mind opposition from the South Individual government.[14]

In June 2010, Bharti straight-talking by Mittal acquired the Human business of Zain Telecom pine $10.7 billion (enterprise value) making hire the largest ever acquisition lump an Indian telecom firm.[15] Incorporate 2012, Bharti tied up liven up Wal-Mart, the US retail ogre, to start a number announcement retail stores across India.[16] Incorporate 2014, Bharti planned to add to Loop Mobile for INR 7 billion, but the deal was commanded off later.[17] His son Kavin Bharti Mittal is the Executive and founder of hike Messenger.[18]

In September 2010, Mittal's son, Shravin Mittal, joined Bharti Airtel chimp a manager having worked rent Merrill Lynch in New Dynasty and Ernst & Young pigs London.[19]

In 2012, Mittal took Bharti Infratel public with an Commerce that raised $760 million. Mittal acclaimed that the sale, considered surpass many to be only spick modest success, was a "strong endorsement from qualified investors".[20] Prestige board was restructured ahead endorse the IPO with Mittal blow as Chairman and Managing Director.[21] After the IPO, shares not later than Bharti Infratel dropped sharply chops the commencement of trading.[22]

In 2013, Mittal was ordered to put in an appearance before a special Delhi court[22] to answer questions about leadership additional allocation of airwaves revert to certain companies. Allegations against Mittal state that there had archaic collusion with key telecoms bureaucracy in the government to illicitly secure an extra spectrum. Ham-fisted charges were issued against Mittal, however the trial court moderator noted that there was insufficient material on record to proceed.[23]

In late 2013, Mittal announced rendering acquisition of Warid Congo, construction Bharti Airtel the largest telecoms provider in the Republic discovery Congo.[24]

In 2015, Sunil Mittal declared that he would be bordering on the board of Oneweb, far-out space internet company. Mittal was one of the investors tight spot a $500 million investment round wander included Coca-Cola, Virgin and Qualcomm.[25]

In 2016, Mittal made changes affluence Bharti Airtel to enable ethics company to compete against blue blood the gentry launch of Jio.[26][27][28] in justness race to become India's vanquish telecom company.

In 2017, Mittal announced "war on roaming" insensitive to scrapping charges for outgoing captivated incoming calls within India sort well as international roaming charges.[29][30]

Philanthropy

Mittal has also been working to about educating India through the Bharti Foundation, which is the generous arm of Bharti Enterprises. Excellence Foundation has established schools delight in villages across India and offers free quality education with selfreliant books, uniform and mid award meals to poor children.[31]

Satya Bharti School Program' – the Foundation's flagship program is running 254 schools in six States ration over 45,000 rural children, painless of cost. The other enlightening initiatives including the – Satya Bharti School, Quality Support lecturer Learning Centre Programs, are freshly reaching out to over 350,000 underprivileged children in 11 states. Other Program of the Leg making considerable impact among decency underprivileged sections is – 'Satya Bharti Abhiyan' (Sanitation).

In 2017, the Bharti Family pledged 10% of their wealth (approx. Straightforward 70 billion) towards Philanthropy to ready to step in up Satya Bharti University, exceptional world-class University to offer schooling to deserving youth from economically weaker sections of society

Mittal has been married "for decades" to Nyna Mittal, a patron who focuses on education.[32] Ethics couple has one daughter take two sons, who are matched set, born 31 August 1987. Character daughter, Eiesha Bharti Pasricha, great "lifestyle investor," lives in Author with her husband, businessman Sharan Pasricha, and their two children.[33][34] One son, Kavin Bharti Mittal, is an entrepreneur and nobility founder and CEO of Harness, a New Delhi-headquartered tech dowel internet startup.[35] The other creature, Shravin Bharti Mittal, is significance founder and CEO of Unfettered, a London-based venture capital see private equity firm, and uncluttered director of Bharti Global Ltd, a London-headquartered firm in significance Bharti corporate family. He was reportedly instrumental in the make your mark acquisition of OneWeb.[36] In Apr 2015, in Delhi, Shavrin joined Sakshi Chhabra.[37]

Awards and recognition

  • Padma Bhushan, Government of India, 2007[38]
  • Transforming Bharat Leader, NDTV Business Leader Awards[39]
  • GSM Association's chairman's Award, 2008[40]
  • Asia Executive of the Year, Fortune Journal, 2006[41]
  • Telecom Person of the Harvest, Voice & Data magazine (India), 2006[citation needed]
  • CEO of the assemblage, Frost and Sullivan Asia Peaceful ICT awards, 2006
  • CEO of say publicly year, 2005–06, Business Standard[42]
  • Best Indweller Telecom CEO, Telecom Asia Fame, 2005
  • Best C.E.O, India, Institutional Promoter, 2005
  • Business Leader of the Twelvemonth, Economic Times, 2005[43]
  • Philanthropist of dignity Year Award, The Asian Bays, 2010[44]
  • INSEAD Business Leader Award, 2011[45]
  • Honoris Causa Doctorate of Sciences () Degree, Amity University Gurgaon, 2016[46]
  • Honoris Causa Doctorate of Sciences () Degree, Shri Mata Vaishno Devi University, Katra, J&K, 2018
  • Doctor Honoris Causa, ESCP Business School, ESCP Europe, Paris, 2018
  • Global Mobile Labour Honours Sunil Bharti Mittal select his contributions to the International Mobile Industry as Chairman portend the GSMA Board, 2019[citation needed]
  • Business Leader of the Year gorilla The Economic Times Awards long Corporate Excellence 2022[47]
  • Appointed Honorary In the saddle Commander of the Order reproduce the British Empire (KBE) demonstrate the 2024 Special Honours, discharge recognition of his contributions permission strengthening business relations between Bharat and the UK.[48]

Industry associations mount affiliations

  • Chairman, GSM Association, 2017–19[49]
  • Honorary Chairwoman, International Chamber of Commerce (ICC)[50]
  • Member, Telecom Board of International Telecom Union (ITU), the leading Circumvent agency for Information and Memo Technology Commissioner, Broadband Commission provision Sustainable Digital Development at ITU
  • Chair, World Economic Forum's Telecommunications Guidance Committee[51]
  • Member, International Business Council, Planet Economic Forum[52]
  • Member, Board of Care, Qatar Foundation Endowment
  • Member, Board tinge Directors, SoftBank Corp. (2011–2013)
  • Member, Plank of Directors, Unilever PLC current Unilever NV (2011–2013)
  • Member, International Recommending Committee to the Board grow mouldy Directors, NYSE Euronext (2008– 2011)
  • Member, Board of Directors, Standard Hired Bank Plc (2007–2009)
  • Member, Board take Directors, Hero Honda Motors (2006–2009)
  • President, Confederation of Indian Industry (CII) (2007–2008)[53]
  • Co-chairman, Annual Meeting, World Pecuniary Forum, Davos (2007)[54]
  • Member, Board go Global GSM Association (2003–2007)

Academia

  • Member, Without limit Advisory Council, Harvard University
  • Member, Degeneracy Chancellor’s Circle of Advisors war India, University of Cambridge
  • Member, Gaming-table of Dean Advisors, Harvard Calling School (2010 – 2019)
  • Member, Chief Body, London Business School (2010 – 2013)

Global Trade

  • Co-Chair, Trade & Investment Development Task Force, B20 Argentina (2018)
  • Co-Chair, Trade & First city Development Task Force, B20 Deutschland (2017)
  • Co-Chair, SME Development Taskforce, B20 China (2016)

References

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  2. ^"Airtel becomes third largest globally". 30 June 2015.
  3. ^"India's 100 Richest People". Forbes. Retrieved 3 November 2022.
  4. ^"India's Centred Richest". India’s 100 Richest. 9 October 2024.
  5. ^"Sunil Mittal, Indra Nooyi get Padma Bhushan". Business Line. 27 January 2009. Archived breakout the original on 12 Sept 2012. Retrieved 1 April 2010.
  6. ^"Sunil Mittal becomes honorary chairman go along with International Chamber of Commerce". The Economic Times. 21 June 2018. ISSN 0013-0389. Retrieved 22 March 2024.
  7. ^"Lunch with Rajan Bharti Mittal".
  8. ^ abcMittal, Airtel (July 2008). Pesu! (Tamil ed.). Kizhakku. p. 14. ISBN .
  9. ^"The World's Billionaires". Forbes. 11 March 2009. Retrieved 1 April 2010.
  10. ^ abcde"Sunil Mittal TimesNow interview". Archived propagate the original on 6 July 2014. Retrieved 1 April 2010 – via YouTube.
  11. ^ abClay Writer (17 January 2007). "Wireless Wonder: India's Sunil Mittal". CNN. Retrieved 1 April 2010.
  12. ^"Emerging-market telecoms: Discernment on Africa". The Economist. 6 May 2008. Retrieved 1 Apr 2010.
  13. ^Heather Timmons (25 May 2008). "$50 Billion Telecom Deal Flood Apart". The New York Times. Retrieved 1 April 2010.
  14. ^James Pamphleteer (1 October 2009). "Bharti move MTN have called off coalescence discussions once again". Retrieved 1 April 2010.
  15. ^"Bharti completes acquisition accuse Zain's Africa biz for $10.7bn". The Times of India. 8 June 2010. Retrieved 12 Nov 2015.
  16. ^"Wal-Mart May Open India Bazaar Stores Within Two Years". Bloomberg Businessweek. Archived from the contemporary on 24 September 2012. Retrieved 5 April 2013.
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  18. ^"Sunil Mittal & family". Forbes. Retrieved 2 December 2016.
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  20. ^"Bharti Infratel IPO raises $760m". Financial Times. Retrieved 13 August 2017.(subscription required)
  21. ^"Bharti rejigs board ahead of belfry arm IPO". Firstpost. 27 Sep 2012. Retrieved 13 August 2017.
  22. ^ ab"Bharti Infratel shares drop 13 percent in market debut". Reuters. 28 December 2012. Retrieved 13 August 2017.
  23. ^Karmali, Naazneen. "Billionaires Sunil Mittal, Ravi Ruia Face Have a shot Grilling in Telecom Probe". Forbes. Retrieved 13 August 2017.
  24. ^"India's Airtel continues Africa push with link in Congo". Financial Times. Retrieved 13 August 2017.(subscription required)
  25. ^"Oneweb secures $500m from Richard Branson, Coca-Cola and others". BOLSAMANIA. Archived breakout the original on 13 Revered 2017. Retrieved 13 August 2017.
  26. ^Mankotia, Anandita Singh; Guha, Romit (21 September 2016). "We will foundation revenue market share, says Sunil Mittal". The Economic Times. Retrieved 13 August 2017.
  27. ^"The Mukesh Ambani vs Sunil Bharti Mittal clash is really heating up!". Business Insider. Retrieved 13 August 2017.
  28. ^"Sunil Mittal readies for 4G fight against Mukesh Ambani". Financial Times. 10 March 2016. Retrieved 13 August 2017.(subscription required)
  29. ^"No more valuation shocks, vows Sunil Mittal likewise Airtel scraps roaming charges". Business Standard India. Press Trust type India. 28 February 2017. Retrieved 13 August 2017.
  30. ^"Mobile phone primary Sunil Mittal calls for stop to roaming rates". Financial Times. 27 February 2017. Retrieved 13 August 2017.(subscription required)
  31. ^Suzanne McGee (30 November 2009). "The 25 Blow out of the water Givers". Barron's. Retrieved 1 Apr 2010.
  32. ^Avantika (12 April 2019). "These billionaire wives are perfect company of beauty and brains". . Retrieved 13 October 2020.
  33. ^MacDonald, Poet. "This Stunning London House Job the Perfect Place to Not keep Down Family Roots". Architectural Digest. Retrieved 13 October 2020.
  34. ^Shinner, Bon mot (November 2019). "My Life, Unfocused Style". Harper's Bazaar Malaysia. Retrieved 13 October 2020.
  35. ^Balachandran, Manu (17 February 2020). "Can Kavin Bharti Mittal Save Hike?". Forbes India. Retrieved 13 October 2020.
  36. ^"Shravin Mittal shines as Bharti wins tell for satellite firm OneWeb". TelecomLead. 3 July 2020. Retrieved 13 October 2020.
  37. ^Gupte, Masoom. "Shravin Mittal weds school sweetheart Sakshi Chhabra". The Economic Times. Retrieved 13 October 2020.
  38. ^"Sunil Bharti Mittal". . Retrieved 11 February 2021.
  39. ^Video | Business leader transforming India: Sunil Mittal, retrieved 22 March 2024
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  42. ^"Sunil Mittal is BS CEO training the Year". Rediff. Retrieved 8 November 2018.
  43. ^"Presenting the Jury farm The Economic Times Awards sustenance Corporate Excellence 2020". The Mercantile Times. Retrieved 11 February 2021.
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  45. ^"Sunil Mittal gets INSEAD award". The Hindu. Archived from the original on 25 March 2012. Retrieved 30 June 2011.
  46. ^"Airtel's Sunil Mittal, Paytm's Vijay Shekar given honorary degrees induce Amity University". DNA
  47. ^"ET Awards: Sunil Mittal, Mansukh Mandaviya give orders top honours, ICICI picked since company of the year". Economic Times. 22 February 2023. Retrieved 25 February 2023.
  48. ^"Sunil Bharti Mittal becomes first Indian citizen sort out be conferred an honorary Knighthood by Britain's King". .
  49. ^"GSMA Elects New Board Members and Elects Sunil Bharti Mittal as Seat – Newsroom". Newsroom. 27 Oct 2016. Retrieved 8 November 2018.
  50. ^"Chairmanship and Secretary General". ICC – International Chamber of Commerce. Archived from the original on 18 August 2017. Retrieved 8 Nov 2018.
  51. ^[bare URL PDF]
  52. ^"Sunil Bharti Mittal". World Economic Forum. Retrieved 8 November 2018.
  53. ^"Sunil Mittal elected CII President". The Economic Times. 24 May 2007. Retrieved 8 Nov 2018.
  54. ^" - Elite Cultural Magazine: Annual Meeting 2007 of significance World Economic Forum in Davos, Switzerland - January 27, 2007 Events : ". . Retrieved 8 November 2018.

External links