GMR group’s chairman, GM Rao has promised to donate Rs 1,540 crore to the GMR Varalakshmi Foundation, a non-profit organization set up by GMR to serve the underprivileged in India and abroad.
The amount is equivalent to his entire personal share in the company. GM Rao ranked 440 on Forbes rich list with $2.6 billion. He is placed at number 22 in India. Dr Reddy’s Labs founder – chairman K Anji Reddy ranked 833 in the world with wealth of $1.5 billion.
GM Rao was born in Rajam, Srikakulam district of Andhra Pradesh. Rao started his career with jute yarn business, followed by a foray into banking. GMR Infrastructure operates New Delhi, Hyderabad and Istanbul airports.