Billionaire Rakesh Jhunjhunwala pledges 25 percent of wealth for charity

Billionaire investor Rakesh Jhunjhunwala, often referred to as India's Warren Buffet for his investment strategy, has decided to pledge one-fourth of his wealth for charity — marking yet another common-ground with the legendary American investment guru.

Replying to e-mailed queries from media, 51-year old Jhunjhunwala said that he would donate 25 percent of his wealth and the inspiration has come from his father, who was an income tax official.