A young billionaire, Nikhil Kamath, co-founder of an online stock trading company Zerodha along with his brother Nittin Kamath, has become India’s youngest pledger for “The Giving Pledge”. His estimated net worth is $1.1 billion ( Rs 90,69,00,50,000), according to Forbes.
Who is Nikhil Kamath
1986-born Nikhil Kamath is from Karnataka. Kamath dropped out of school after 10th standard. Thus he has no formal educational degree. He began his career at a private company. That is when he also began equity trading. In 2006, he became a sub-broker. Four years later in 2010 he started Zerodha.
An initiative by famous investors and philanthropists Bill Gates and Warren Buffet, ‘The Giving Pledge’ is a movement of wealthy people, who are also philanthropists, which inspires people to give more, announce their plans early and invent smarter ways of giving.
“As a young philanthropist, I am writing to express my gratitude whilst joining the Giving Pledge. Despite my age, I am committed to positively impacting the world… ,” reads his letter of commitment.
He said that it will give him an opportunity to address some of the world’s most pressing challenges in collaboration with others.
34-year-old Nikhil Kamath has become the fourth Indian to take the pledge, besides Azim Premji, Kiran Mazumdar-Shaw, Nandan Nilekani, and Rohini. The donations mostly go to non-profit organisations.
Kamath is supportive of causes like climate change, education, health, and energy.
As part of his own humanitarian efforts, Nikhil has his own foundation, Young Indian Philanthropic Pledge (YIPP). He works with entrepreneurs and donates at least 50% of their net worth to charitable causes through this endeavour.
Recently, his tweet on good health went viral in which he compared life to a marathon, where the ability to finish strong is crucial. “…Amidst the pursuit of success and wealth, it is essential to prioritize mental and physical well-being. No amount of money can buy good health…” he wrote.
Nikhil and his brother Nithin Kamath, the co-founders of Zerodha, are known for their generous donations. As per the EdelGive Hurun India Philanthropy List 2022, their financial support grew by 300 percent to Rs 100 crore in FY 2021–2022. As a result, they are ranked the ninth-largest individual donors in India.
Another foundation led by Nithin Kamath, The Rainmatter Foundation, supports initiatives in India that work towards preventing climate change, and creating a healthy environment, creating livelihoods in the process.