Rakesh Jhunjhunwala pledges a fourth of his wealth to charity at an event that saw donors and crusaders share the difficulties and concerns of giving
On Monday evening, Rakesh Jhunjhunwala, investor and visionary at Rare Enterprises, often referred to as India’s Warren Buffet, made an announcement that added to his similarities with the US investor and philanthropist. Jhunjhunwala, ranked 1,062 among the world’s richest by Forbes, said he would pledge a fourth of his wealth to charity.
“I don’t really know how Forbes found out how much money I have… You should never ask a man his worth and a woman her age,” he said, laughing. “I have three children. But I will now think that I have four. Charity is my fourth child. And I shall divide my wealth between all four of them.”
Jhunjhunwala’s declaration has put him in a rare category of givers, but he admits it is a tough call. Giving is not quite as easy as it sounds. Writing the cheque is probably the easiest part. The serious concern is how that money is going to be used, for what purpose, and whether or not it has any impact.