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September 13, 2002 

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THE MILLIONAIRE WHO USES HIS MONEY FOR HELPING OTHERS

Joseph Chandy, Ayarkunnam, Kottayam

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While the rich are often engaged in multiplying their riches, here is a millionaire who has earmarked his wealth for philanthropic purposes.

Joseph Chandy (51) of Ayarkunnam, Kottayam, worked for 20 years in USA and made a bank balance of Rs.10 crores.  He uses interest from this savings to fund his aid schemes.

In 1997 Chandy formed a Trust, which gives Rs.1000 to Rs.3000 per year to poor students in all the 14 districts of Kerala.  He hands over the amount to the students personally every year.  In Thiruvananthapuram District more than 10 students from Neyyattinkara Taluk are recipients of his largesse for the past 3 years.

From next year he has plans to expand the beneficiary net to 10000 plus school students and 1000 plus college students.

Chandy was born into a poor family.  After Pre Degree, he was forced to study B.Com though his liking was for Chemistry.

On graduation he got employment in a bank.  Even at that time he started a tutorial college that charged only nominal fees.  In 1978 he went to USA and made his millions.

Although Chandy can well afford it, he lives a spartan life.  He wears ordinary dresses and footwear.  There is not even a telephone at his residence.

This year, on the occasion of the silver jubilee of his wedding, he is providing Rs.10000 each to 25 couples to start jobs on their own.

 

Courtesy: Kerala Kaumudi, August 5, 2002

Contributed by: Administrator

 

"God plants his saints sometimes in unexpected soil."