Sunil Bharti Mittal is a well-known Indian billionaire and entrepreneur who started his journey with a small investment of Rs. 20,000 ($270) and built an empire worth billions of dollars. Today, his net worth is estimated to be around Rs. 148 billion ($2 billion).
Mittal was born on October 23, 1957, in Ludhiana, Punjab, India. He is the son of Sat Paul Mittal, who was a Member of Parliament, and Lalita Mittal. Mittal completed his early education at Wynberg Allen School in Mussoorie and later attended Punjab University in Chandigarh, where he graduated with a Bachelor of Arts and Science degree.
In 1976, Mittal started his career by importing and selling parts for bicycles in Punjab. He later diversified into manufacturing and selling portable generators, which he imported from Japan. Mittal’s entrepreneurial spirit was evident from a young age, and he was determined to make his mark in the business world.
In 1981, Mittal founded Bharti Telecom Limited, which was initially a manufacturer of push-button telephones. However, the company faced tough competition from state-owned telecommunications companies and struggled to make a profit. In 1984, Mittal decided to pivot the company’s focus to the services sector and launched India’s first mobile phone service company in 1995, called Bharti Airtel Limited.
Bharti Airtel was initially launched in Delhi, and within a few years, it expanded its services to other parts of India. Today, it is the second-largest mobile phone service provider in the world, with over 400 million subscribers across 18 countries in Asia and Africa.
Mittal’s success with Bharti Airtel was not without its challenges. In the early days, he faced tough competition from state-owned telecommunications companies that had a monopoly on the market. However, Mittal persevered, and with his entrepreneurial skills, he managed to turn his company into a global leader in the telecommunications industry.
Over the years, Bharti Airtel has diversified its business interests and expanded into other sectors, such as digital TV services, broadband, and mobile wallets. Mittal has also invested in other ventures, such as retail, agriculture, and insurance. He has a significant stake in the joint venture with Walmart, Bharti Walmart Private Limited, which operates wholesale stores in India.
In addition to his entrepreneurial pursuits, Mittal is also known for his philanthropic work. He has set up the Bharti Foundation, which focuses on providing education to underprivileged children in rural India. The foundation has built over 200 schools and has provided education to more than 50,000 children.
Mittal’s success in business has not gone unnoticed. He has received numerous awards and accolades over the years, including the Padma Bhushan, one of India’s highest civilian honors, in 2007. He has also been included in Forbes’ list of the world’s richest people several times, and in 2017, he was named the Entrepreneur of the Year at the Economic Times Awards for Corporate Excellence.
Despite his success, Mittal remains humble and grounded. He believes in working hard and staying focused on his goals. He is known for his innovative ideas and his ability to take risks, which has helped him build an empire worth billions of dollars.
Thus, Sunil Bharti Mittal is an inspiration to many aspiring entrepreneurs. He started his journey with a small investment and built a global empire through hard work, perseverance, and innovation. Mittal’s success with Bharti Airtel has made him one of the richest people in India, and his philanthropic work has helped improve the lives of thousands of children. He is a true testament to the power of entrepreneurship and the impact it can have on society. Mittal’s story is a reminder that anyone can achieve success if they are willing to take risks and work hard towards their goals.
Mittal’s journey also highlights the importance of adaptability and innovation in business. When faced with tough competition in the telecommunications industry, he pivoted his company’s focus and launched India’s first mobile phone service, which ultimately led to his success. This is a valuable lesson for aspiring entrepreneurs, who should always be willing to adapt to changing market conditions and innovate to stay ahead of the competition.
Furthermore, Mittal’s philanthropic work with the Bharti Foundation serves as an example of the responsibility that comes with success. He understands the importance of giving back to society and has used his wealth to make a positive impact on the lives of underprivileged children. This is a message that all successful entrepreneurs should heed, as they have the power to make a significant difference in the world.