Sunil Mittal Net Worth

Sunil-Mittal-Net-Worth

Sunil Mittal net worth

Current Net Worth$14.2 Billion (USD – 1,420 Crores), (Rupees – 1.13 Lakh Crores)

Sunil Mittal short biography

Net Worth$14.2 Billion
BornOctober 23, 1957 (Age – 63)
Identified asFounder and chairperson of Bharti Enterprises
StatusIndian Entrepreneur
EducationPunjab University, Bachelor of Arts/Science
NationalityIndian
ResidenceDelhi, India
Spousal statusMarried (Nyna Mittal)
Children3 (Shravin, Kavin Bharti Mittal, & Eiesha)
Sunil Mittal short biography

Sunil Bharti Mittal has a net worth of $14.2 Billion (Rupees – 1,13,125 Crores), making him one of the richest people in India.

He is an Indian billionaire philanthropist and the founder and chairman of Bharti Enterprises, a conglomerate with investments in telecommunications, education, banking, real estate, food, malls, hotels, and agriculture, among other things.

The group’s flagship company, Bharti Airtel, is one of the world’s largest and India’s second-largest telecom firms, with over 399 million subscribers and operations in 18 countries spanning Asia and Africa.

He was elected Chairman of the International Chamber of Commerce on June 15, 2016.

Bharti Airtel, operated by telecom tycoon Sunil Mittal, is one of India’s top mobile phone providers, with more than 423 million subscribers.


Airtel, which is affiliated with SingTel, is engaged in a price war with Mukesh Ambani’s Reliance Jio.

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Mittal’s personal investment company bought a stake in classified AU Small Finance Bank in May 2020.


SoftBank-backed messaging service Hike is run by Mittal’s son Kavin.

He was elected for two terms (1976 and 1982) and nominated to the Rajya Sabha once (1988).

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Sunil Mittal biography

Full NameSunil Bharti Mittal
BirthplaceLudhiana, Punjab, India
Height5.7 feet, 170 cm
Weight85 Kg
FatherSat Paul Mittal
MotherLalita Mittal
Sunil Mittal Biography

Sunil Bharti Mittal was born on October 23, 1957, he is a Punjabi by birth.

Sat Paul Mittal, his father, was a Rajya Sabha (Indian National Congress) Member of Parliament from Ludhiana, Punjab.

In 1992, his father died of cardiac arrest.

Sunil Mittal social media handle:

Education

He started his schooling at the Wynberg Allen School in Mussoorie but later moved to the Scindia School in Gwalior, where he received a Bachelor of Arts and Science degree in 1976 from Panjab University in Chandigarh, for which he graduated at Arya College in Ludhiana.

Career

Sunil Mittal Net Worth
Sunil Mittal Net Worth (Image Source – ThePrint)

Sunil began his first company in April 1976, when he was 18 years old, with a capital investment of 20,000 (US$280) borrowed from his father.

His first endeavor was producing crankshafts for local cycling firms. The then-Indian government abruptly outlawed the manufacture of generators.

He founded the Bharti Overseas Trading Group, an import business, with his brothers Rakesh and Rajan Mittal in 1980. In 1981, he purchased importing licenses from Punjabi exporting companies.

In 1984, he began manufacturing push-button phones in India, which he had previously imported from a Taiwanese firm, Kingtel, to replace the country’s old-fashioned, bulky rotary phones. Sunil began manufacturing fax machines, cordless phones, and other telecom devices in the early 1990s.

He received one of the four cell phone network licenses that were auctioned in India in 1992.

When Bharti Cellular Limited (BCL) was established to provide cellular services under the brand name AirTel in 1997, his plans were eventually approved by the government in 1994, and he launched services in Delhi in 1995.

Sunil Bharti Mittal was rumored to be considering purchasing the MTN Corporation, a South African telecommunications firm with coverage in 21 African and Middle Eastern countries, in May 2008.

According to the Financial Times, Bharti is exploring a US$45 billion bid for a 100% stake in MTN, which will be the biggest international takeover ever by an Indian corporation.

Bharti Airtel announced it was in talks with MTN again in May 2009, and the companies agreed to negotiate the future deal exclusively by July 31, 2009.

Bharti, led by Mittal, bought Zain Telecom’s African sector for $10.7 billion (enterprise value) in June 2010, making it the largest-ever takeover by an Indian telecom group.

Bharti partnered with Wal-Mart, the world’s largest retailer, in 2012 to open a number of retail stores across India. Bharti agreed to purchase Loop Mobile for INR 7 billion in 2014, but the transaction fell through.

Shravin Mittal, Mittal’s uncle, joined Bharti Airtel as a manager in September 2010, after working for Merrill Lynch in New York and Ernst & Young in London.

Mittal took Bharti Infratel public in 2012, raising $760 million in the process. Mittal said the deal, which many people felt was just a small achievement, was a “solid endorsement from accredited buyers.

Mittal was summoned by a special Delhi court in 2013 to address concerns regarding the allocation of additional airwaves to some firms.

Mittal announced the purchase of Warid Congo in late 2013, making Bharti Airtel the Republic of Congo’s biggest telecom provider.

Sunil Mittal revealed his intention to join the board of OneWeb, a space internet firm, in 2015. Mittal was a part of a $500 million funding round that included Coca-Cola, Virgin, and Qualcomm, among others.

Mittal made improvements to Bharti Airtel in 2016 to help the firm contend against Reliance Jio Infocomm Ltd.’s launch for the position of India’s largest telecoms company.

Mittal launched an “attack on roaming” in 2017, declaring that charges for outgoing and incoming calls within India, as well as overseas roaming charges, will be abolished.

Private & early life

Mittal has been married to Nyna Mittal, a philanthropist who is focused on education, for “decades.”

The couple has one daughter and two sons, who were born on August 31, 1987, and are twins.

Eiesha Bharti Pasricha, a “lifestyle investor,” and her partner, businessman Sharan Pasricha, live in London with their two daughters.

Kavin Bharti Mittal, one of the family’s sons, is an entrepreneur and the founder and CEO of Hike, a New Delhi-based software and internet startup.

Shravin Bharti Mittal, the other parent, is the founder and CEO of Unbound, a London-based venture capital, and private equity company, and a director of Bharti Global Ltd, a London-based Bharti corporate family firm. Shavrin married Sakshi Chhabra in Delhi in April 2015.

Philanthropy

Sunil has worked to educate India through the Bharti Foundation, which is Bharti Enterprises’ philanthropic arm.

The Foundation has founded schools in villages across India, providing poor children with free quality education, including books, mid-day meals, and uniforms.

The Foundation’s flagship initiative, the Satya Bharti School Program, runs 254 schools in six states, serving over 45,000 rural children at no expense.

They are currently reaching out to over 350,000 underprivileged children in 11 states. The Foundation’s Satya Bharti Abhiyan’ is another initiative that has a huge effect on the underprivileged.

In 2017, the Bharti family donated 10% of their fortune (roughly Rs 70 billion) to philanthropy in order to create Satya Bharti University, a world-class university that will provide education to deserving youth from economically deprived backgrounds.

Awards

YearAwards
2005Business Standard named him CEO of the Year
2005Telecom Asia Awards, Best Asian Telecom CEO
2006Fortune Magazine called him Asia Businessman of the Year
2006Voice & Data magazine (India) called him Telecom Person of the Year
2006Frost and Sullivan Asia Pacific ICT Awards, CEO of the Year
2007Government of India, Padma Bhushan
2008Chairman’s Prize from the GSM Association
2010The Asian Awards, Philanthropist of the Year Award
2011INSEAD Market Leader Award
2016Amity University Gurgaon, Honoris Causa Doctorate of Sciences (D.Sc.) Degree
2018Doctor Honoris Causa, ESCP Business School, ESCP Europe, Paris
Jack Ma Awards

Net worth statistics

  • March 2011 – $8.3 B
  • March 2012 – $8.1 B
  • March 2013 – $6.8 B
  • March 2014 – $5.7 B
  • March 2015 – $6.6 B
  • March 2016 – $5.7 B
  • March 2017 – $7.5 B
  • March 2018 – $8.8 B
  • March 2019 – $6.5 B
  • April 2020 – $8.8 B
  • April 2021 – $10.5 B
  • April 2022 – $13.9 B

Sunil Mittal Quote

For me, relationship is very important. I can lose money, but I cannot lose a relationship. The test is, at the end of a conversation or a negotiation, both must smile.

– Sunil Mittal

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