Azim Premji, India’s most generous billionaire, gave away $7.5 billion to support philanthropic activities. Let’s take a look at the article below for further information!

Azim Premji commits another 34 percent of his shares for philanthropy!

Azim Premji is Indian’s second richest with an estimated net worth of US $15.6 billion as of October 2018. Additionally, he is the Chairman of Wipro Ltd. Moreover, he is also the chairman of the Azim Premji Foundation. Recently, the Wipro Chairman has earmarked 34 percent of Wipro shares worth Rs. 52, 750 crore, which is about US $7.5 billion for his philanthropic activities.

“Azim Premji has increased his commitment to philanthropy, by irrevocably renouncing more of this personal assets and earmarking them to the endowment, which supports Azim Premji Foundation’s philanthropic activities,” the city-based Foundation said in a statement. With the latest contribution, the total value of funds is Rs. 1, 45 trillion (US $21 billion). It is one of the five largest private endowments in the world and the biggest in Asia.

In addition, it includes 67 percent of economic ownership of Wipro Limited. As you can know, the education-focused philanthropic initiative launched by the Wipro’s chairman over a decade ago is focused on improving the quality of teachers in some of the country’s most remote locations and also runs on the Azim Premji University in Bengaluru. Besides, the foundation-funded Azim Premji University, which today has 1300 students, is set to expand with a bigger campus and another university in Madhya Pradesh state.

All this work has been in close partnership with various State Governments. Currently, this field work is spread across Karnataka, Uttarakhand, Rajasthan, Chhattisgarh, Puducherry, Telangana and Madhya Pradesh, along with some work on the north-eastern states of India.