Forbes: Azim Premji’s Donation To His Charitable Foundation Rises To $21 Billion

March 13, 2019

To whom much has been given, much should be expected.

AzimPremjiTech tycoon Azim Premji just cemented his position as one of the world’s most large-hearted billionaires. The billionaire announced Wednesday that he has donated $21 billion to his education-focused charitable arm, the Azim Premji Foundation, The donation includes a 67% stake in his IT outsourcer, Wipro, worth $15 billion, plus assets including his stakes in consumer business Wipro Enterprises and PremjiInvest, his family office.

Premji had recently hinted to Forbes that he was planning to give away more, saying “ To whom much has been given, much should be expected.” After today’s announcement, Premji’s fortune, which was $22.6 billion, placing him at No.36 among the world’s billionaires, has reduced by 80% to $4.4 billion. Along with his family, he now owns a 7% stake in Wipro.

“ It’s an awesome gesture, “ says biotech billionaire Kiran Mazumdar-Shaw, Premji’s close friend and fellow Bangalore resident.  “Azim has taken Indian philanthropy to another level. ” Mazumdar-Shaw, who’s donated $30 million to date, has committed to giving away much more; like Premji, she’s signed the Giving Pledge and has pledged to donate 75% of her wealth.

Anu Aga, another billionaire noted for her charitable activities, calls Premji “ a role model for all of us. I wish more people would follow his example.”

Read more at the source

 

 

Author: ismailimail

Independent, civil society media featuring Ismaili Muslim community, inter and intra faith endeavors, achievements and humanitarian works.

3 thoughts

  1. Way to go Azim Premji. Keep it up, your generosity will be a tremendous help for the so many very less fortunate in this world. I pray you will be blessed with even more to keep donating.

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  2. Here is a short story ,a delegation from Prince Alykhan hospital in Then Bombay went to his mother for a donation to renovate operating theatre ,and asked for a donation of Rupees 75000 ,who was also a doctor in the hospital then ,she studied the blue prints ,and said this amount isn’t sufficient and donated Rupees 125,000 instead.

    Like

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