With a dedication to his principles and perseverance, he has transformed a 2-million-dollar hydrogenated cooking fat company into an 8-billion-dollar enterprise with operations in 58 nations. Azim Premji is a leading business tycoon in India and the former chairman of Wipro Limited, among India’s largest software services providers. Premji inherited Wipro at the age of 21 from his father and diversified the company from producing vegetable oil to providing IT services, software solutions, and consulting services. He is also a well-known philanthropist who has so far given away $21 billion to his charitable foundation. In 2020, his Azim Premji Foundation pledged $150 million to provide aid for those affected by the Covid-19 pandemic.
- In 1966, just before Premji was about to complete his degree in engineering at Stanford University, his father died unexpectedly.
- He claimed to have donated more than 25% of his wealth to charities as of April 2013.
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- The story of this unstoppable tycoon began in Mumbai on this day in 1945, where he was born to a Gujarati Muslim family.
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.
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.
To contribute to systemic changes in the way of learning in the azim premji net worthn 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.
Azim Premji continued to hold the top rank among Indian philanthropists by giving Rs 9,713 crore in donations in FY21, or Rs 27 million per day. Azim Premji was born in Bombay in a Shia Muslim family with roots from Kutch in Gujarat. In the years 2004 and 2011, he was listed in the Top 100 Most Influential People.
Did You Know Wipro Founder Azim Premji Is A College Dropout? He Is Now One Of Richest Indians; Check His Net Worth
The city of Bombay, in the Bombay Presidency of British India, is both stunning and bustling with life. After finishing his education, Azim Hashim Premji immediately dove into the business world. The foundation aims to improve the quality of education in India and has been involved in several initiatives to promote literacy and primary education. He has committed to donating most of his fortune to charitable causes and has already distributed $21 billion towards enhancing primary education in India.
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.
Since 2001, Azim Premji Foundation has been working to ensure that children from underprivileged communities receive quality education. His family office venture Premji Invest bets on companies ranging from start-up unicorns like Purplle to traditional ones like Shubham Housing Development Finance. He has now retired from his position of Chairman of Wipro, letting his sons take over, continuing the legacy of the Premji household. However, his influence and philanthropy continue to prevail, making Azim have a rare mixture of being humble and rich, setting an example for other largely selfish billionaires. Business magnates in the auto and consumer goods space also saw a steep drop in their wealth.
He was awarded an honorary doctorate in 2009 from Wesleyan University, Middletown, Connecticut for his exceptional work as a philanthropist. In 1966, the sudden demise of his father compelled him to leave his bachelor’s degree in-between and to take charge of Western Indian Vegetable Products Ltd, later abbreviated as WIPRO Ltd . Azim Premji’s father, Muhammad Hashem Premji, was permitted by Muhammad Ali Jinnah, the neighboring country’s founder, and first governor-general, to travel to Pakistan. His father, however, declined the invitation and remained in India.
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.
To be sure, nobody – including Premji – would doubt that at current share prices Wipro is massively overvalued. The company has done nothing to deserve a 200 per cent rise in its value in 20 days. By that reckoning, much of Premji’s wealth too is notional and transitory.
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.
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Its sandalwood soap brand Santoor has now become the second largest player in the segment in India with sales of over Rs 2,650 crore. The NCLT is looking at the company’s proposal to merge Wipro Technologies Austria, Wipro Information Technology Austria, NewLogic Technologies SARL and Appirio India Cloud Solutions with itself. If the NCLT’s approval comes through, the company might consider a proposal to buy back shares worth $1-1.2 billion in the Jan-March quarter, sources said. Adani Group chairman Gautam Adani has committed to donate Rs 60,000 crore ($7.7 billion) to social causes. Adani’s corpus will be administered by the Adani Foundation, making it one of the biggest transfers to a philanthropic trust in India. Adani’s corpus will be administered by the Adani Foundation, making it one of the biggest transfers to a philanthropic trust in India.
- He is the fourth wealthiest person in India and the 61st richest person in the world.
- In no time he made Wipro position itself as a leading IT competitor, making the company reach a global status and himself as one of the richest men worldwide.
- His father, Mohamed Hashem Premji, was a well-renowned businessman and was titled “Rice King of Burma.” He chose to remain in India the time Jinnah invited him to Pakistan at the time of partition.
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.
Author Yasmeen Premji is the wife of Azim Premji is a businessman from India. Yasmeen’s marriage to Azim Premji brought her into a completely new world, although it was not different. He is one of the most influential Indian leaders of the modern era. In addition to founding the non-profit Azim Premji Foundation, Azim Premji founded Azim Premji University. The 300,000 schools that make up the Azim Premji Foundation are spread throughout seven states in India. Premji graduated from Stanford University with a Bachelor of Science in Electrical Engineering.
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.
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.
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.
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.
In no time he made Wipro position itself as a leading IT competitor, making the company reach a global status and himself as one of the richest men worldwide. India’s richest person has a net worth of $150 billion, while the richest woman has a net worth of $16.4 billion. Business tycoon and the former chairman of Wipro Limited Azim Premji inherited control of Wipro from his father in 1966 at the age of 21. Under his leadership, Wipro diversified from producing vegetable oil to providing IT services, software solutions, and consulting services.
His company’s IT division known as Wipro technologies ranks third among the largest software development company in India which generates the maximum revenue. According to an annual survey conducted, it is the 9th most valuable brand in India. He is known for his modesty and frugality in spite of his wealth and still Azim Premji drives a Toyota Corolla and prefers to fly in an economy class. This year spelled an 8% drop in the total wealth of business tycoons on the Forbes’ 2019 list to $452 billion. It had been a “challenging year for the nation’s wealthies” owing to the economic slowdown.
Yet this wasn’t all, for he went on to donate 2 billion dollars to this cause which became one of the largest donations ever made in India. According to the Forbes real-time net worth data, Premji has a net worth of $9.2B as of May 4, 2023. Apart from his stake in Wipro, Premji has also invested in several other companies, including ICICI Bank and HDFC Bank.
@urbanaffairskerala.org is not related to any government body. We do not claim to be any government body and we are just a news portal that covers various updates and stories. Wesleyan University in Middletown gave him an honorary doctorate for all the good things he did for other people. He thinks that one’s values are the most important part of a business. Premji has said many times that it is important to stick to your values because he is sure that business success will come in the end.