Four-month-old millionaire? Narayana Murthy gifts grandson Infosys shares worth $28.9 million
NR Narayana Murthy
The founder of Infosys, NR Narayana Murthy, gifted his four-month-old grandson, Ekagrah Rohan Murthy, 15,00,000 shares of his tech company which are worth Rs 240 crore ($28.9 million). This may make the infant India’s youngest millionaire.
Youngest millionaire?
Ekagrah, son of Rohan Murthy and Aparna Krishnan, is now the owner of a 0.04 per cent stake in India’s second-largest IT services company, according to regulatory filings.
Born in November, Ekagrah is Narayana and philanthropist Sudha Murthy’s third grandchild. Their first two grandkids are the two daughters of Akshata Murthy and the UK Prime Minister Rishi Sunak.
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After the transaction, Narayana Murthy’s own stake in Infosys decreased from 0.40 per cent to 0.36 per cent amounting to around 15 million shares.
According to the filing, the transfer of shares was conducted “off-market”.
About Infosys
NR Narayana Murthy is the founder of Infosys, a company which began with a small investment of $120 (Rs 10,000).
Today it is the second biggest tech company in India.
His wife, author and philanthropist Sudha Murthy, took oath as a member of the Upper House of the Indian Parliament (Rajya Sabha), earlier this month.
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In late 2023, Narayana Murthy’s remark advising the Indian youth to work for 70 hours a week to boost the country’s economy sparked a debate and even backlash. However, earlier this year, he defended his remarks.
“I rationalised it this way. If anybody has performed much better than me in their own field, not necessarily in my field, I would respect, I would call them, and I would say, where do you think I was wrong in saying this? But I didn't find it,” he told CNBC-TV18.
He added, “A lot of my Western friends, a lot of NRIs, and a lot of good people in India called me, and without exception, they were all very happy. They all said whether it is 70 or 60, that's not the issue.”
(With inputs from agencies)