#412

Rakesh Mittal

India 70 years old

Overview

Source of Wealth
Telecom
Industry
Telecom
Residence
Delhi
Education
Punjab University (Bachelor of Arts/Science)
Marital Status
Married

Assets

  • Bharti Airtel Ltd.
    369,135,000 shares @ -
    -
    532454-IN
  • BT Group
    704,613,000 shares @ -
    -
    BT.A-GB
  • Eutelsat Communications
    59,675,000 shares @ -
    -
    ETL-FR
  • ICICI Lombard General Insurance Company
    0 shares @ -
    -
    540716-IN
  • Sundrop Brands
    2,133,000 shares @ -
    -
    500215-IN

Biography

Rakesh Mittal is a non-executive director of Bharti Airtel, one of India's largest mobile phone operators. It has more than 600 million customers across South Asia and Africa.

Airtel, which has SingTel as its partner, competes with Mukesh Ambani's Reliance Jio and Kumar Birla's Vodafone Idea.

In 2022, Google announced a $1 billion investment in Bharti Airtel,of which $700 million was for a minority stake in the company.

In March 2024, Indian-American billionaire investor Rajiv Jain's GQG Partners bought a $713 million stake in Bharti Airtel from SingTel.

Their Bharti Global, run by his nephew Shravin, has stakes in France's Eutelsat and U.K. telecoms company BT.

About

Bharti was set up in 1976 as a maker of bicycle parts.

Mittal and his two siblings have pledged $1.1 billion to their charitable foundation, mainly to set up a new university to provide free education for the poor.