Nikhil Kamath : Zerodha founder Nikhil Kamath has hit the headlines once again. Kamath, who writes witty LinkedIn articles is the news again for a separate reason.
Nikhil Kamath, 35, has announced that he would give away most of his wealth to create a more equitable society. He recently joined The Giving Pledge campaign founded by Warren Buffett and Bill Gates.
The Giving Edge campaign encourages its members to give away at least half of their wealth to philanthropic causes during their lifetime. Kamath is the fourth Indian to become a part of the Giving Edge community. The other members are Azim Premji, Kiran Mazumdar Shaw, and Nandan and Rohini Nilekani.
In a statement, Kamath – who didn’t receive any formal education- expressed his gratitude for joining this campaign He affirmed his intention to make a positive impact on society by donating a significant part of his wealth. He also said that his aim of creating a more equitable society aligns with the mission and values of Zerodha.
Humble beginnings
Nikhil and Nithin Kamath founded Zerodha more than a decade ago. The former had a humble salary of Rs. 8,000 when he started, but over a period, he and his brother have created India’s largest retail brokerage.
Nikhil Kamath hails from Shimoga and went to the Oxford Senior Secondary School in Bengaluru. He didn’t pursue a college education and began trading in stocks while being employed in a call centre.
He convinced his employer to buy and sell stocks and that’s how he began building up his brokerage firm.
Why do the rich donate their wealth?
Wealthy people donate a substantial part of their wealth for charity reasons. By doing this, they reduce their taxable income and taxes on capital gains.
Must Read: Babita Phogat Slams Wrestlers’ Exploitation, Says ‘They Were Misled and Used’
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER
