Sobha Group Founder PNC Menon to Give 50% of Fortune to Charity

According the news reports, PNC Menon, the founder of Sobha Group of Companies, with an estimated fortune of $600 million plans to give half of his personal wealth to charity.

Dubai-based Menon, a first generation entrepreneur who began his professional career by setting up an interior decoration firm in the Sultanate of Oman in 1976, told Arabian Business that he plans to open education institutes in India and Oman.

“Once you make all of the money I don’t think you should keep all of it for your family, a large portion of it should go to society. I have decided that 50 per cent of mine should go to society,” he was quoted as saying in the report.

“My view is very simple; I am lucky to have made my money. After a certain point in time, money cannot make a difference in your life. I feel that its not even called charity, it’s about accountability and the responsibility of society,” he said.

Menon was ranked the Gulf Cooperation Council’s 21st richest Indian with a fortune of $600 million, in a list published last month by Arabian Business, the news report stated.

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