I am too young for charity: Mittal

Source: PTI

July 07, 2006 18:07 IST

While the world's richest people, including the likes of Bill Gates and Warren Buffett, swear by philanthropy, 55-year-old India-born steel magnate Lakshmi Niwas Mittal feels he is "too young for charity."

"I am still very young, Warren Buffett is very elderly to me," he said, when asked if he had any plans to follow the footsteps of the illustrious investor, who recently announced a donation of $37 billion to the Bill and Melinda Gates Foundation.

Addressing his first media

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conference in India after the successful takeover of rival Arcelor, Mittal said he would have to work a few more years before thinking of getting into philanthropy.

"I will work for a couple of years more and then I would think about it," he said as mediapersons broke into laughter.

According to the Fortune's list of richest people in the world, London-based Mittal is ranked fifth with a net worth of $23.5 billion.