Forbes has published its 17th annual list of philanthropists who, throughout the previous year, demonstrated a dedication to causes of their choice and made large donations. The Asia-Pacific region's names are featured on the unranked list. Kushal Pal Singh, former chairman of DLF donated from personal funds, showcasing his commitment to various causes. Let's read more about him.
The former chairman of DLF gained notoriety when he raised $89 million by selling his last direct share in the Delhi-based real estate company. According to Forbes, the money raised will assist charitable projects and the KP Singh Foundation, which was founded in 2020.
With an estimated net worth of $14.3 billion, Singh, 92, is credited with propelling DLF's growth and Gurgaon's development as a technology centre, the report added.
All about K.P Singh:
Kushal Pal Singh was born in 1931, in Bulandshahr, UP. He graduated in Science from Meerut College. He pursued aeronautical engineering in the UK and was subsequently selected to the Indian Army by the British Officers Services Selection Board, UK. He was commissioned into the Deccan Horse in 1951. His father, Chaudhary Mukhtar Singh, was a renowned lawyer in Bulandshahr.
The billionaire Kushal Pal Singh has had an extremely prosperous career. Property magnate Kushal Pal Singh left his army assignment in 1961 and joined DLF Limited, a company started by his father-in-law in 1946.
Subsequently, Singh bought land from farmers to build his showcase city, DLF City, in Gurgaon. Today, the biggest publicly traded real estate business in India is DLF, which has its headquarters in Delhi and currently Rajiv, KP Singh's son is the chairman of the Delhi-headquartered DLF, the real estate development company. Rajiv's wife Kavita Singh became an advisor to DLF Commercial Developers Ltd in November 2002.
In June 2020, after serving as chairman for more than 5 decades, Singh announced his resignation. During his tenure, Kushal Pal Singh built a large number of earthquake-resistant business buildings, residences, retail centres, and recreational spaces in Gurgaon. The company also went for one of India's biggest initial public offerings (IPOs) in 2007 and raised around US$2.24 billion. He currently serves as chairman emeritus of DLF and divides his time between Dubai and London.
Singh sold his one-third stake in DLF's rental arm to GIC, Singapore's sovereign wealth fund in August 2017, for $1.9 billion. In 2022, DLF launched a luxury residential project in Delhi with GIC.
K.P Singh was ranked the 8th richest person in the world in Forbes 2008. His autobiography, named Whatever the Odds: The Incredible Story Behind DLF, was published in 2011.
