The Azim Premji Foundation was founded in 2000 to provide universal access to basic education. In 2014, the Azim Premji Philanthropic Initiatives division was established.
Many prominent businesspeople, including Ratan Tata, Gautam Adani, and Mukesh Ambani, are currently based in India. We’ll now share with you the story of one of these incredibly successful Indian businessmen who also happens to be the most charitable Indian. According to Dasra and Bain & Co.’s India Philanthropy Report 2023, the number of ultra-high net worth individuals (UHNIs) in India with a net worth of more than Rs 1,000 crore declined to Rs 4,230 crore in FY22 from Rs 11,811 crore the year before.
The whole gift sum made by Wipro founder and chairman Azim Premji was reportedly lowered by Rs 9,000 crore as a result, “due to the share buyback in 2021 benefiting the foundations directly.”
Despite falling to second position in FY22 with a donation of Rs 484 crore, Azim Premji remained still India’s top philanthropist in 2023.
During the “unprecedented health and humanitarian crisis” brought on by the Covid-19 epidemic, Wipro, owned by Azim Premji, contributed Rs 1,125 crore. Wipro Ltd. offered $1 billion, followed by Wipro Enterprises Ltd.’s $25 billion and the Azim Premji Foundation’s $1 billion.
Azim Premji created history in 2019 when he donated a $7.6 billion portion of his IT outsourcing business to his nonprofit, The Azim Premji Foundation.
The Azim Premji Foundation was founded in 2000 with the goal of ensuring that everyone has access to a basic education. 2014 saw the establishment of the Azim Premji Philanthropic Initiatives division.
According to the Hurun India and EdelGive Foundation’s rankings of the world’s finest philanthropists, where Azim Premji was placed No. 12, he has donated at least ten times as much to charitable causes as anyone else in India.
Azim Premji has made major contributions to humanitarian causes throughout his life. He has won various honours for his achievements, including the Carnegie Medal of Philanthropy and the Padma Bhushan, one of India’s highest civilian accolades.