Infosys founder NR Narayana Murthy has gifted his four-month old grandson Ekagrah Rohan Murthy shares of Infosys worth Rs. 240 crore. This makes him in all probability, the youngest millionaire in India, as per Moneycontrol.
Murthy’s grandson received 15 lakh shares or 0.04 percent stake in Infosys which is currently India’s second-largest information technology services company.
Post gifting, Narayana Murthy’s own stake in the company reduced from 0.40 percent to 0.36 percent, not valued at around Rs. 1.51 crore.
Recently, Murthy had said that Indians should embrace a 70 hour work week. This statement wasn’t received well by many. In an interview With CNBC-TV18, Murthy defended his statement, emphasising that hard work is needed in a country where many are in demanding professions such as farming and factory work.
Speaking on the criticism he received for his statement, he said, “I rationalised it this way. If anybody that 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. A lot of my western friends, a lot of NRIs, a lot of good people in India called me, and without exception, they were all very happy.”
Defending this, he gave reference of the hard work that the less privileged in India put in. Murthy said, “The issue is that we have to work hard in this country because the poor farmer works very hard. You know, the poor factory worker works very hard. So, therefore, those of us who received education at a huge discount, thanks to the subsidy from the government for all these education, owe it to the less fortunate citizens of India to work extremely hard.”