⬅ # 147 Ricardo Salinas Pliego|# 149 George Roberts

# 148 Sunil Mittal 

$13.6B

Real Time Net Worth
as of 4/12/2024
-$81.7M (-0.60%)

# 148 Sunil Mittal 

$13.6B

Real Time Net Worth
as of 4/12/2024
-$81.7M (-0.60%)
OccupationFounder and Chair, Bharti Enterprises
Source of WealthTelecom
Age66
ResidenceDelhi, India
Marital StatusMarried
Children3
EducationBS, Punjab University
Age-Adjusted Net Worth$9.09B
Sunil Mittal
Sunil Mittal
India
Net worth: $13.6B

Self-Made Score 

Wealth History

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Biography

Overview

Sunil Bharti Mittal, born on October 23, 1957, is an Indian billionaire businessman and philanthropist.
He is the founder and chairman of Bharti Enterprises, a diversified conglomerate with interests in telecom, insurance, real estate, education, malls, hospitality, Agri, and food, among other ventures.
Bharti Airtel, the flagship company of Bharti Enterprises, is one of the world's largest telecom companies, operating in 18 countries across Asia and Africa with over 399 million customers.
In FY2023, Bharti Airtel recorded revenues exceeding US$18 billion.
On June 15, 2016, Mittal was elected as Chairman of the International Chamber of Commerce.

Early Life

Sunil Bharti Mittal was born in Ludhiana, Punjab, into an Agarwal family. His father, Sat Pal Mittal, was a Member of Parliament, Rajya Sabha.
He attended Wynberg Allen School, Mussoorie, and later Scindia School, Gwalior, graduating in 1976 from Panjab University, Chandigarh, with a Bachelor of Arts and Science.
His entrepreneurial journey began in April 1976 at the age of 18, starting a business with a capital investment of ₹20,000 borrowed from his father.

Entrepreneurial Ventures

In 1980, Sunil Mittal, along with his brothers, founded Bharti Overseas Trading Company, later moving to Mumbai.
He started by importing portable electric-power generators from Japan and later shifted to assembling push-button phones in India in 1984, marking the entry into the telecom business.
Bharti Telecom Limited (BTL) was incorporated, and a technical tie-up with Siemens AG of Germany was established for the manufacture of electronic push-button phones.
In 1992, Mittal successfully bid for one of the four mobile phone network licenses auctioned in India, launching services in Delhi in 1995 under the brand name AirTel.
Under Mittal's leadership, Bharti became the first telecom company to surpass 2 million mobile subscribers and introduced innovative services like 'Indiaone.'
In 2010, Bharti, led by Mittal, acquired the African business of Zain Telecom for $10.7 billion, marking the largest-ever acquisition by an Indian telecom firm.
In 2012, Mittal took Bharti Infratel public with an IPO that raised $760 million.
Mittal made strategic moves to compete against new entrants like Jio in the Indian telecom industry, announcing the 'war on roaming' in 2017.

Global Investments

Sunil Mittal's Bharti Global, run by his son Shravin, invested in U.K. satellite provider OneWeb.
In 2022, Mittal agreed to merge OneWeb with France's Eutelsat in a deal valuing OneWeb at $3.4 billion.
Google announced a $1 billion investment in Bharti Airtel in 2022, with $700 million designated for a minority stake in the company.

Other Businesses

Mittal owns Airtel Payments Bank, initially a joint venture with Kotak Mahindra Bank.
In late 2013, Mittal announced the acquisition of Warid Congo, making Bharti Airtel the largest telecom provider in the Republic of Congo.
Sunil Mittal joined the board of OneWeb, a space internet company, in 2015, participating in a $500 million investment round.

How long would it take you to become as rich as Sunil Mittal?

If you started with $10,000 and invested an additional $500 each month at a 44.18% CAGR, it would take you 5 years to reach Sunil Mittal's net worth of $13.6B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 36.27% compared to 8.51% for the S&P 500 benchmark.

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Sunil Mittal is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Sunil Mittal, Telecom is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey