Wipro founder, Azim Premji, whose net worth stands at $6.6 billion, turns 75 today. Premji is one of the world’s most generous billionaires and has opened his heart and purse strings as India fights the Covid-19 pandemic. His charitable initiative — Azim Premji Foundation and Wipro — the IT major he founded — set aside ₹1125 crore to fight the pandemic. This is the biggest donation made by any billionaire in India so far. Azim Premji donated as much as $16 billion of his wealth last year, and that affected the collective wealth number of 102 Indian billionaires.

In 2001, Azim Premji Foundation was established as a non-profit organisation and started conducting various charitable activities since then. He has a Ph.D. in electrical engineering and was awarded the Padma Shri in 2021. In 2018, Wipro was awarded with a landmark 10-year contract worth $1.6 billion from Alight Solutions of Illinois.

The nation has produced some outstanding industrialists and merchants, but when it comes to dedication and output, Mr. Azim Premji is the first name that springs to mind. In addition, he is referred to as the Czar of the Indian IT sector. In 2001, he established the non-profit Azim Premji Foundation. To create a more just and sustainable society, he hopes to contribute through this foundation to ensure that all rural Indians have access to high-quality education. The organization runs programs in several states, including Bihar, Pondicherry, Rajasthan, Karnataka, and Rajasthan. His father, the Rice King of Burma, was a well-known merchant.

But that is a universal limitation of wealth evaluation and applies as much to Bill Gates, the world’s richest man with a net worth of $90 billion. Some industry observers feel that in his pursuit for profit with pride, Premji has been slow to grab emerging business opportunities. Prahalad have also advised Wipro to sharpen the company’s focus and energies on infotech. He sees Wipro as an ideal blend of a “brick-and-mortar” and a “click-and-mortar” company.

• Some industry observers feel that in his pursuit for profit with pride, Premji has been slow to grab emerging business opportunities.
• He donated a further 18% of his Wipro investment in July 2015, bringing his overall donation to date to 39 percent.His lifetime donations total more than US$21 billion.
• Muhammed Hashim Premji established Western Indian Vegetable Products Ltd in 1945.
• The former has about 14 stocks in his bucket, while the latter has 3, with promoter holdings in Wipro.
• He got married to Yasmeen Premji, a famous businesswoman and philanthropist.

Not discarding his education, Azim went on to receive his degree from Stanford at the age of 55 in electrical engineering, the same degree he had previously postponed. However, he is a man who created his empire out of passion, not greed. With his pockets becoming full, Azim began his philanthropic endeavours with the pure intention of helping the needy. Aiming at developing the elementary education system in rural government schools, he established the Azim Premji Foundation, a non-profit organisation, in 2001.

Azim Premji foundation.(ThisDay.App)Azim continues to break barriers, for he is the first Indian to pledge for Bill Gates and Warren Buffett’s campaign titled The Giving Pledge. In March 2019, he also pledged an additional 34% of Wipro stock held by him to the foundation, a large share rarely given by anyone. ArcelorMittal chairman and CEO Lakshmi Mittal’s net worth also plunged to $10.4 billion to ninth spot this year.

Autoparts maker Vivek Chaand Sehgal’s net worth more than halved to $2.45 billion on account of weak consumer sentiment in the automobile industry. In 1967, when Azim Premji took over the family business which produced Vanaspati, he changed the name from Western Indian Vegetable Products Ltd to Wipro and began to diversify it slowly into several other consumer products. In 1979, he transformed Wipro into an IT powerhouse with successful international partnerships.

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Azim broadened the vision of the company from oil manufacturing to hair care soaps, lighting products, bakery fats, baby toiletries, ethnic ingredient based toiletries, and hydraulic cylinders. These are shares held by tariq azim premji as per the shareholding data filed with the exchanges. The latest quarter tends to have missing data since not all companies may have reported their shareholding data till now. However, Azim Premji later expanded the company’s product line to include baking fats, ethnic ingredient-based toiletries, hair care soaps, baby toiletries, lighting products, and hydraulic cylinders. As of March 2015, the corporation had operations in 67 nations and a market valuation of about $ 35 billion.

Known for his frugal lifestyle, it is believed that Premji zeroed in on a second hand Mercedez Benz E-class after his colleagues nudged him to replace his Toyota Corolla that he had been using for long. “I have never had the need or thrill for being wealthy,” he explained at an industry event. If you have any thoughts about Azim Premji Biography, Earning, Salary, rich status and Net worth.

As of now, his total contribution to philanthropy stands at $21 billion, and that includes 67% stake in Wipro.

He donated $2.2 billion of his total wealth in 2013 to set up the Azim Premji Foundation. According to Forbes, the wealth of all billionaires in India shrunk by 23% to $313 billion from $406 billion last year. A part of this happened because Premji’s wealth decreased from $22.6 billion in 2019 to $6.1 billion. Premji is one of the world’s most generous billionaires and has also opened his heart and purse strings as India fights the Covid-19 pandemic.

It is also expected to use the capital to bolster its technology platform and offer a software product to corporate partners helping them to monitor supply-chain distribution. A few spirited conversations later, six like-minded people came together to pledge half their wealth. They include an actor, a public relations consultant, some techies, state government employees and a sexual health educator.

He was honoured with Padma Vibhushan — one of the country’s highest honours — for his contribution to the IT industry in India.

In azim premji net worth 2022 quarter, both the renowned investors have kept their portfolios mostly unchanged with minor rejig. Both investors have slashed minute stakes from their holding companies DMart and Wipro during the quarter. In the last two years, the share price of DMart has more than doubled from Rs 2,139 levels at the start of August 2020 versus Tuesday’s closing at Rs 4,250.

India’s rich are getting richer, as IndiaSpend reported on the 24th of January. The wealth held by the nation’s wealthiest 1% increased by Rs 20,913 billion ($303 billion) during the year 2017, an amount equal to the central government’s total budget that year, as per this report by Oxfam India. The contribution of India’s richest to philanthropic activities has grown at a much slower pace than the increase in their wealth. Since last Thursday, $3.2 billion has been wiped off from the promoters’ holdings of companies such as HCL, Wipro and Infosys. HCL’s Shiv Nadar and Wipro’s Azim Premji are the biggest losers in the market rout, with the net worth of their holdings being shaved off by $1.6 billion and $1.4 billion respectively.

Premji was able to expand its product line by making bakery fat, different kinds of lights and products that go with them, toiletries made from locally available ingredients, hydraulic cylinders, hair care soaps, and baby toiletries. He changed the name of his company to Wipro and started making microcomputers so that he could sell high-tech products. When Azim Premji gave his education-focused Azim Premji Foundation his Wipro shares worth $7.6 billion in 2019, Forbes Asia named him Asia’s most generous philanthropist. Mukesh Ambani, for instance, topped Barclay’s Hurun India Philanthropy List in 2018 by donating Rs 437 crore for education, healthcare and rural development. This was just 0.1% of his wealth, which grew by $10 billion in 2019 over 2018, placing him 13th in the global ranking of individuals with net worth of $50 billion or above.

To contribute to systemic changes in the way of learning in the Indian education that facilitates in bringing an equitable and a sustainable society. In Operation since 2001, this Foundation has constantly been engaged with over 2.5 million children in 20,000 schools across 13 states through a committed workforce. The hundreds of paid volunteers and more than 250 professionals have joined hands and are working with this foundation. Mr. Azim was considered the “most generous Indian” in the year 2014, according to the Hurun India Philanthropy List. Supply chain financing startup Mintifi raises $110 million in funding led by Premji InvestAccording to Mintifi, it will use a large part of the current raise to expand its loan book, and focus on growth of disbursals on its platform.

On the contrary, Wipro’s share price jumped over 50 per cent during the same period. As of Tuesday, the owner of retail chain DMart under Avenue Supermarts Radhakishan Damani has a net worth of over Rs 175,454.5 crore against Azim Premji’s net worth of Rs 172,432.3 crore. The former has about 14 stocks in his bucket, while the latter has 3, with promoter holdings in Wipro.

As of March 31, 2020, the Premji family owns 74.04% shares of Wipro Ltd. In 1966, a 21-year-old Azim Hasham Premji had to abort engineering studies in Stanford University when he was forced to return to India following his father’s death. As a kid, Premji was known for being a prankster, regularly getting himself scolded for his mischief. This force of nature soon completed his schooling and got him admitted to Stanford University for further studies.

A philanthropist by nature, a tech tycoon and who is also known as the Czar of the Indian IT sector is none other than Azim Hashim Premji. Born on 24th of July in 1945 to Mohamed Hashem Premji in Mumbai is the one who currently is the chairman of an IT consulting company, Wipro Limited. Mainly responsible for the enlightenment of IT consulting and system integration Wipro Limited through four decades from diversification to growth. Finally at last, he led successfully and made his company emerged as one of the global leaders in the Software Industry.

Even after being underprepared for the role, he successfully led Wipro and put it on the world map as one of the most successful IT ventures. His generous charity through his own foundation – Azim Premji Foundation – has made him one of Asia’s biggest philanthropist mainly since the introduction of a new bequest earlier in 2019. Remarkably, according to the Economic Times, he also strode into the list of the top five philanthropists all over the world.

He, later on, completed his education after more than 30 years. He diversified the cooking oil business and took it into a software company. Today, Wipro is one the leading global IT services giant, with a presence in over 50 countries. Premji renamed the company Wipro in 1977, and in 1979, when the government asked IBM to leave the country, he started to steer the company towards the computer business. Wipro established several successful international partnerships in the 1980s to aid it build computer hardware for sale in India.

Wipro, a provider of outsourcing and information technology services with more than 220,000 staff members, is headed by Premji, who is also the company’s largest shareholder. After transferring shares valued at more than $4 billion to his foundation and private equity fund Premji Invest, he now holds majority ownership in the Bangalore, India-based company.Mr. Azim Premji is the chairman of one of India’s largest business conglomerates, WIPRO, as well as a business tycoon, investor, and philanthropist.