Rakesh Jhunjhunwala, nicknamed India's Warren Buffett, whose net worth is about Rs.48,000 crore, had plans to give away a large portion of his wealth to charity - starting from 2025.
Jhunjhunwala claimed that he had a philosophical outlook on life and his place in it.
Must read some of his answers to an interview
1.I realise that I have far less wealth than people think I have, but far more than what I actually need.
2. Money is the harsh reality of life. Some love for it, some die for it, some use it well, some waste it, most fight for it, but most others desire it.
3. After having earned so much, I have realised one thing -- that money cannot be an end to itself.
4. Money has got five crore good things, just one really bad thing: you can't take it with you.
5.I belonged to a middle class family. When I was young, I had very rich friends. But my father taught me: Always aspire, never envy.
So, if you meet someone who is rich or powerful, always aspire (to be like them), but never envy. Because envy causes anger and disputes.
6. When my father came to know that I was among the Forbes list of billionaires, he said, "I am very happy to know that you are on the list. But aren't you shameful? You have billions of dollars of money, but you can't give away a few dollars in charity? Go and die in a pail of water,
Today I donate 25 per cent of my income to charity.
7. What has money done for me?
It has allowed me to travel in a Mercedes instead of a Maruti car, I live in a 5,000 sq foot flat instead of a 1,000 sq feet flat. In place of smoking a Four Square cigarette, I now smoke India Kings, I drink Blue Label whiskey instead of Diplomat. Besides that, money hasn't made much difference to my life.
8. Let it not change you as a human being. Let it not change your attitude towards your friends, family and the people who you've grown up with.
The things money can buy are certainly important, but the things money can't buy are the most important in the world -- integrity, love and happiness.
What else can I say about money? Strive for it, fight for it and use fair means. Love, but don't love for it.
And the last one .. Today, I have far better things in life than money, but not health. God has given me everything -- wealth, success, a good wife and good friends.I wish He gives me good health.