Latest news with #ShravinMittal
India.com
27-05-2025
- Business
- India.com
Meet Shravin Mittal; Heir To Rs 2.56 Lakh Crore Business Empire, Leaves THIS Country Amid Aggressive Tax Reforms
Bharti Group chairman Sunil Bharti Mittal's son Shravin Mittal has relocated to the UAE from the UK amid increased taxes on the wealthy in the UK. By leaving London, Shravin, the heir of the Rs 2.56 lakh crore empire, has joined the list of people who have left the country amid aggressive tax reforms. Shravin has moved from the UK to the United Arab Emirates, according to a Bloomberg report According to filings cited by the news agency, the 37-year-old billionaire registered an Abu Dhabi branch for Unbound, an investment firm he founded in London. One of India's richest families, the Mittal family owns 24.5 percent of BT Group through their Bharti Global holdings. Sunil Mittal & Family has a net worth of 30.7 billion dollars, according to the Bloomberg Billionaire Index. Shravin is the only child of Sunil Mittal and therefore he is the heir of the Rs 2.56 lakh crore empire. Who Is Shravin Mittal? Shravin Mittal is the founder and CEO of Unbound, an investment firm headquartered in London. The firm specialises in fintech, enterprise software and logistics. The firm is supported by Bharti Global. Shravin started his career as an analyst at J.P. Morgan Cazenove in London. He then served as a manager at Airtel where he oversaw operations in Africa and India. Shravin became the managing director of Bharti Global Limited in 2017 and continues to serve in that capacity. Shravin founded Unbound in 2017 and continues to lead the company as its CEO. Shravin graduated from Harvard Business School with an MBA. He graduated from the University of Bath with a BSc in Accounting and Finance.
India.com
25-05-2025
- Business
- India.com
Indian-origin billionaire, heir to Rs 2.30 lakh crore business empire, relocates to UAE from UK due to…; know reason behind exodus of uber rich from UK
Shravin Mittal, the son of Indian telecom magnate Sunil Mittal, has relocated to the UAE from the UK. (File) Shravin Mittal UAE Relocation: Shravin Bharti Mittal, the son and heir of Indian telecom tycoon, Sunil Mittal, has relocated to the United Arab Emirates (UAE) from the United Kingdom (UK), joining the growing list of uber-rich individuals who left Britain amid a sweeping tax overhaul that targets the country's non-domiciled residents. Why Shravin Mittal moved to UAE? According to a Bloomberg report, Shravin Mittal, heir to one of India's wealthiest business families and the top shareholder in BT Group Plc, has recently moved to the UAE, presumably to escape UK's new tax reform laws. The 37-year-old, who previously listed the UK as his residence, now calls the UAE his home, as per regulatory filings by Bharti Enterprises. Shravin Mittal's departure from Britain is being seen as part of surging trend among the ultra-rich who have left the country after the British government recently introduced sweeping tax reforms, abolishing the non-domicile (non-dom) status, which previously allowed wealthy foreign-born residents to avoid paying UK taxes on foreign income for up to 15 years. After assuming office in July 2024, the Labour government expanded crackdown by also removing inheritance tax breaks on overseas wealth, as announced by Chancellor Rachel Reeves. Experts believe that these 'discriminatory' tax laws are the reason behind the surging exodus of high-net-worth individuals from the UK, which would have a negative impact on the British economy in the long run. According to the Centre for Economics and Business Research, the economic cost would far any anticipated tax windfall, even if a quarter of the country's estimated 74,000 non-doms left. Why the ultra-rich are moving to the UAE? According to Bloomberg, the primary reason for high-net worth individuals to choose the UAE as their preferred residence are the country's low tax rates, coupled with a favorable environment for investments. The UAE imposes zero personal, in addition to no tax on capital gains, or inheritance tax. In April, Shravin Mittal founded the established an Abu Dhabi branch for his investment firm, 'Unbound', originally founded in London, and while the Mittal family has not publicly commented on the matter, Shravin's sister, Eiesha Bharti Mittal, has taken over her brother position at Bharti Global from April 1, which coincides with the Mittal scion relocation to the UAE, Bloomberg reported. Who is Shravin Bharti Mittal? Shravin Mittal is the younger son of Indian billionaire and telecom tycoon Sunil Bharti Mittal, who heads Bharti Airtel– India's second-largest telecom provider after Mukesh Ambani-owned Jio– which is ranked among the country's 10 most valuable domestic firms, with a market of Rs 10,44,682.72 crore. Sunil Mittal is one of the richest men in India with a net worth of $13.5 billion, as per Forbes, while the combined wealth of the Bharti Mittal family is pegged at $27.2 billion, according to the Bloomberg Billionaires Index . Additionally, Shravin Mittal's family, under Bharti Global, holds a 24.5 percent stake in BT Group, which they acquired from French billionaire Patrick Drahi in 2023.
News18
25-05-2025
- Business
- News18
Who Is Shravin Mittal, The Heir To A Rs 2.56 Lakh Crore Empire, Who Relocated To UAE From UK?
Last Updated: Shravin Bharti Mittal is the Founder and CEO of Unbound, an investment firm headquartered in London that focuses on fintech, enterprise software, and logistics on a global scale. Meet Shravin Mittal: Bharti Group chairman Sunil Bharti Mittal's son Shravin Mittal has shifted his residence to the UAE from the UK, adding among those who have recently left the British territory to save taxes. At 37 years old, Shravin now lists the United Arab Emirates as his residence after previously residing in the UK, according to Bloomberg report. According to a registry filing for part of his billionaire family's namesake conglomerate, which owns 24.5% of one of Britain's largest mobile and broadband companies, he set up an Abu Dhabi branch last month for Unbound, an investment firm he founded in London. According to Bloomberg Billionaire Index, Sunil Mittal & Family has a net worth of 30.7 billion dollars or Rs 2.56 lakh crore, marking it as one of India's richest families. Shravin, being the only child of Sunil Mittal, is the hier of the empire. Who Is Shravin Mittal? advetisement Shravin Bharti Mittal is the Founder and CEO of Unbound, an investment firm headquartered in London that focuses on fintech, enterprise software, and logistics on a global scale. Unbound is supported by Bharti Global, along with a prominent sovereign wealth fund and several large conglomerates and families. Shravin began his professional journey as an Analyst at J.P. Morgan Cazenove in London, where he worked from July 2009 to June 2010, focusing on Investment Banking in TMT. He then served as a Manager at Airtel from June 2010 to August 2012, overseeing operations in Africa and India. In the summer of 2013, Shravin gained further experience as a Partner Intern at Dropbox in the San Francisco Bay Area. Following this, he took on the role of Assistant Director at Better Capital LLP from September 2014 to February 2014. Shravin then joined SoftBank Group International as an Investor from March 2016 to February 2017. In March 2017, he became the Managing Director of Bharti Global Limited, a position he holds to this day. Concurrently, he founded Unbound in October 2017 and continues to lead the firm as its CEO. Shravin holds a Master of Business Administration (MBA) from Harvard Business School, which he earned between 2012 and 2014. Prior to this, he completed his Bachelor of Science (BSc) in Accounting and Finance at the University of Bath from 2005 to 2009, where he also served as the President of the Bath Asian Student Society (BASS). Watch India Pakistan Breaking News on CNN News18. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! Location : New Delhi, India, India First Published: May 25, 2025, 15:59 IST News business Who Is Shravin Mittal, The Heir To A Rs 2.56 Lakh Crore Empire, Who Relocated To UAE From UK?
