KCM executive chairman to donate 75% of his wealth to charity

Anil Agarwal, the the founder and executive chairman of the United Kingdom-based Vedanta Resources PLC billionaire has announced late on Thursday that he and his family have agreed to give 75 per cent of their wealth to charity. 

Agarwal, a one-time scrap metal dealer, made the announcement at an event in London to celebrate the 10 year anniversary of Vedanta's listing on the London Stock Exchange. 

Agarwal told Reuters he would keep his stake in the mining company for now but might ultimately divest it. 

"We have decided we have to give back to society," he said on the sidelines of the Vedanta event. Forbes estimated that the 61-year-old entrepreneur has a net worth of $3.5 billion. 

(Reuters)