Meet man who borrowed Rs 20000, built billion-dollar empire, survived Mukesh Ambani’s biggest challenge, now lives in…; he is…
The Indian billionaire’s company stands out as India’s fourth most valuable company in the country.
Many Indian billionaires started from scratch and later built a billion-dollar empire. One of these people is Sunil Mittal, owner of Bharti Airtel. Mukesh Ambani RelianceJio. Today, Airtel is India’s second largest telecom company with a market capitalization of Rs 12.68 lakh crore as of November 27. With this, Bharti Airtel stands out as India’s fourth most valuable company in the country. Becoming a successful businessman was not easy for Mittal. The Indian billionaire founded Bharti in 1976 as a bicycle parts manufacturer in Ludhiana. He borrowed Rs 20,000 from his father to start his business.
Sunil Mittal’s background
Born in Ludhiana in 1957, Sunil Mittal grew up with the typical expectations that come with political heritage. His father Satpal Mittal was a politician. But Sunil quietly chose a different path. At the age of 18, he borrowed Rs 20,000 from his father and started a small bicycle parts manufacturing business with a friend. Within three years the business grew into three units. Mittal then decided to sell everything and embarked on a new line by importing electrical generators. However, this situation lasted until 1983, when the government suddenly banned the import of generators.
When Sunil Mittal launched telecom services
In 1992, when India opened its doors to private telecom operators, Mittal applied for and won the Delhi cellular licence. By 1995, Bharti Cellular Limited started providing services under the Airtel brand. In 2008, Airtel was among the world’s largest telecom companies, spanning 18 countries and serving millions of customers.
Airtel and Jio
In 2016, Mukesh Ambani launched Reliance Jio, offering free voice calls and low-cost data. Falling profits have shaken the IT industry. Airtel has also faced intense pressure, with revenues falling and market share shrinking. But Mittal did not give up and still runs Airtel, India’s second largest telecom company.
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Sunil Mittal net worth
According to Forbes, the 68-year-old industrialist’s net worth is $14.9 billion as of November 27. Airtel has more than 500 million customers in South Asia and Africa. He currently lives in one of the most expensive bungalows in Delhi.
