Sunil Bharti Mittal

About Sunil Bharti Mittal

Who is it?: Chairman and Group CEO of Bharti Enterprise
Birth Day: October 23, 1957
Birth Place: Ludhiana, Indian
Birth Sign: Scorpio
Residence: New Delhi, India
Alma mater: Punjab University
Occupation: Founder & Chairman Bharti Enterprises
Spouse(s): Nyna Mittal
Children: Eiesha, Shravin, Kavin Bharti Mittal
Parent(s): Sat Paul Mittal (father)
Relatives: Sharan Pasricha (son-in-law)
Website: Sunil Bharti Mittal - Bharti.com

Sunil Bharti Mittal Net Worth

Sunil Bharti Mittal was bornon October 23, 1957 in Ludhiana, Indian, is Chairman and Group CEO of Bharti Enterprise. Sunil Bharti Mittal is an Indian entrepreneur who founded the Bharti Enterprises, a business conglomerate headquartered in New Delhi, India. The corporation which deals in multiple industries across sectors including telecom, retail, and financial services is India’s largest telecom company. Born as the son of a politician, Mittal was the first one from his family to venture into the business sector. Being a first generation entrepreneur is no easy task and he had to face several challenges before reaching the height of success that he has reached today. Blessed with a high level of ambition and an astute sense of business, he dared to tread into the business sectors dominated by industrial giants like the Tatas, Birlas, and the Ambanis. With his relentless hard work and sheer determination not only did he manage to carve a niche for himself, but also emerged as one of the industry leaders in the telecom sectors with his flagship company Bharti Airtel which operates in countries across South Asia and Africa. In fact the success of his business prompted the Prime Minister of India to select him as Co-Chair of the India-Africa Business Council. He is also a philanthropist who believes in giving back to the society. He has been working towards educating the weaker sections in India through the Bharti Foundation, the philanthropic arm of his enterprises.
Sunil Bharti Mittal is a member of Telecommunication

💰 Net worth: $7.8 Billion

Some Sunil Bharti Mittal images

Biography/Timeline

1976

A first-generation Entrepreneur, Sunil started his first Business in April 1976 at the age of 18, with a capital investment of 20,000 (US$310) borrowed from his Father. His first Business was to make crankshafts for local bicycle manufacturers.

1980

In 1980, he along with his brothers Rakesh Mittal and Rajan Mittal started an Import Enterprise named Bharti Overseas Trading Company. He sold his bicycle parts and yarn factories and moved to Mumbai. In 1981, he purchased importing licences from exporting companies in Punjab. He then imported thousands of Suzuki Motors's portable electric-power generators from Japan. The importing of generators was suddenly banned by the then Indian Government.

1984

In 1984, he started assembling push-button phones in India, which he earlier used to import from a Taiwan company, Kingtel, replacing the old fashioned, bulky rotary phones that were in use in the country then. Bharti Telecom Limited (BTL) was incorporated and entered into a technical tie up with Siemens AG of Germany for manufacture of electronic push button phones. By the early 1990s, Sunil was making fax machines, cordless phones and other Telecom gear. Sunil says, "In 1983, the government imposed a ban on the import of gensets. I was out of Business overnight. Everything I was doing came to a screeching halt. I was in trouble. The question then was: what should I do next? Then, opportunity came calling. While in Taiwan, I noticed the popularity of the push-button phone -- something which India hadn't seen then. We were still using those rotary dials with no speed dials or redials. I sensed my chance and embraced the Telecom Business. I started marketing telephones, answering/fax machines under the brand name Beetel and the company picked up really fast.". He named his first push-button phones as 'Mitbrau'.

1992

In 1992, he successfully bid for one of the four mobile phone network licences auctioned in India. One of the conditions for the Delhi cellular license was that the bidder have some experience as a Telecom operator. So, Mittal clinched a deal with the French Telecom group Vivendi. He was one of the first Indian entrepreneurs to identify the mobile Telecom Business as a major growth area. His plans were finally approved by the Government in 1994 and he launched services in Delhi in 1995, when Bharti Cellular Limited (BCL) was formed to offer cellular services under the brand name AirTel. Within a few years Bharti became the first Telecom company to cross the 2-million mobile subscriber mark. Bharti also brought down the STD/ISD cellular rates in India under brand name 'Indiaone'.

2009

In May 2008, it emerged that Sunil Bharti Mittal was exploring the possibility of buying the MTN Group, a South Africa-based telecommunications company with coverage in 21 countries in Africa and the Middle East. The Financial Times reported that Bharti was considering offering US$45 billion for a 100% stake in MTN, which would be the largest overseas acquisition ever by an Indian firm. However, both sides emphasize the tentative nature of the talks, while The Economist magazine noted, "If anything, Bharti would be marrying up," as MTN has more subscribers, higher revenues and broader geographic coverage. However, the talks fell apart as MTN group tried to reverse the negotiations by making Bharti almost a subsidiary of the new company. In May 2009, Bharti Airtel again confirmed that it was in talks with MTN and the companies agreed to discuss the potential transaction exclusively by 31 July 2009. Talks eventually ended without agreement, some sources stating that this was due to opposition from the South African government.

2010

In September 2010, Mittal’s son, Shravin Mittal, joined Bharti Airtel as a manager having worked for Merrill Lynch in New York and Ernst & Young in London.

2012

In 2012, Mittal took Bharti Infratel public with an initial IPO that raised $760 million. Mittal noted that the sale, considered by many to be only a modest success, was a “strong endorsement from qualified investors”. The board was restructured ahead of the IPO with Mittal remaining as Chairman and Managing Director. After the IPO, shares of Bharti Infratel dropped sharply at the commencement of trading.

2013

Satya Bharti School Program' - the Foundation's flagship program is running 254 schools in six States serving over 43,000 rural children, free of cost. The other educational initiatives including the – Satya Bharti School, Quality Support and Learning Centre Programs, are currently reaching out to over 1,24,000 underprivileged children in 11 states. Two more Programs of the Foundation making considerable impact among the underprivileged sections are – 'Satya Bharti Abhiyan' (Sanitation) and 'Nyaya Bharti' (Legal aid).

2015

In 2015, Sunil Mittal announced that he would be joining the board of Oneweb, a space internet company. Mittal was one of the Investors in a $500 million investment round that included Coca-Cola, Virgin and Qualcomm.

2016

In 2016, Mittal made changes at Bharti Airtel to enable the company to compete against the launch of Reliance Jio Infocomm Ltd. in the race to become India’s largest telecoms company.

2017

In 2017, Mittal jokingly announced that Bharti Airtel would be “declaring war on roaming” by scrapping charges for outgoing and incoming calls within India as well as international roaming charges.