HCL’s Shiv Nadar leads Hurun’s philanthropy list with $245 million donation

HCL founder Shiv Nadar and his family have emerged as the top philanthropists on the EdelGive Hurun India Philanthropy List 2023, making a remarkable donation of  ₹2,042 crore ($245 million). 

The Nadars contributed 76% more than their donations in the previous years. Their philanthropic endeavors have predominantly centered around Arts and culture through the Shiv Nadar Foundation. Noteworthy initiatives by the foundation include the SSN Institutions, VidyaGyan, Shiv Nadar University, Shiv Nadar School, Shiksha Initiative, and Kiran Nadar Museum of Art. The Foundation has dedicated a total of US$1.1 billion across its various impactful initiatives, Hurun India said. 

The Bajaj family, along with Cyrus S Poonawalla and Adar Poonawalla, as well as Rohini Nilekani, broke into the top 10 of the list for the first time. They were ranked 6th, 9th, and 10th respectively. 

With a donation of ₹1,774 crore ($215 million), Azim Premji and his family continue to occupy the second position on the list. Their contribution marks a 267% increase year-on-year, attributed to a significant 400% rise in dividend payouts by Wipro in FY 2023. Premji’s philanthropy strategy involves monetary benefits from the shares to go to trusts while he retains the voting rights. 

The third on the list is Mukesh Ambani and his family, who donated ₹376 crore ($45 million). Their philanthropic endeavors are channeled through the Reliance Foundation, which works in the field of education and healthcare. 

Aditya Birla group’s Kumar Mangalam and family occupy the fourth spot in the list with a donation of ₹287 crore ($34.5 million), ₹75 crore ($9 million) of which came from their personal funds. On a global scale, the group’s Corporate Social Responsibility (CSR) expenditure surpasses ₹500 crore ($60 million). 

They are followed by Gautam Adani and the family, who donated  ₹285 crore ($34.2 million), and the Bajaj family with a donation of  ₹265 crore ($31.8 million). Vedanta Group’s Anil Agarwal and family donated  ₹241 crore ($28.9 million). At the eighth spot is Infosys co-founder and the non-executive chairman of the company, Nandan Nilekani, who donated ₹189 crore ($22.7 million), while his wife Rohini donated ₹170 crore ($20.4 million) through her philanthropic ventures. Rohini Nilekani, who is placed 10th on the EdelGive Hurun India Philanthropy List 2023 is on the top of the list of women philanthropists in India. 

Serum Institute of India’s Cyrus Poonawalla and his son Adar Poonawalla donated ₹179 crore ($21.5 million)and are placed 9th on the list. 

The top 10 in the EdelGive Hurun India Philanthropy List 2023 cumulatively donated ₹5,806 crore ($697.4 million) in FY23, as against a combined donation of ₹3,034 crore ($364.4 million) in the previous list. Donations were measured by the value of their cash or cash equivalents from 1 April 2022 to 31 March 2023.

Anas Rahman Junaid, MD and chief researcher, Hurun India, highlighted the number of donors contributing over ₹100 crore ($12 million) has surged from two to 14 in the last five years,  and those donating over ₹50 crore ($6 million) has risen from five to 24.

“Given India’s potential for wealth creation and assuming a continued commitment to philanthropy by billionaires, I anticipate these figures to potentially double over the next five years,” he said.