Indian mining magnate Anil Agarwal announced Thursday that his family has agreed to turn over 75 percent of their wealth to a charitable trust, the Financial Times writes. The principal owner of London-based Vedanta Resources has a fortune estimated by Forbes at $3.5-billion, placing him 24th among Indian billionaires.
Among other philanthropic causes, Mr. Agarwal said he wants to establish a world-class university in his home country. "What we earn must be returned for the greater good of society. Life is not only about wealth," Mr. Agarwal said in revealing the planned donation on the 10th anniversary of Vedanta's listing on the U.K. stock market.