Mr. Azim Premji , Indian billionaire ( Total Wealth- $ 12.2 Billion, 41st richest man in the world as per Forbes list 2012 ) , Stanford graduate and Chairman of Wipro Group has announced donation of about $2 billion (~ Rs. 12300 Crores market value), which is 12% of Company’s shares for kids’ education , teacher’s education , improve school conditions and other social works in India through his non-profit organization – Azim Premji Foundation . He is focused on one of the important investments in life i.e. Education. His foundation will form collaboration with state government , especially in rural areas, to improve the quality of education. Programme is planned to reach around 25000 schools and over 2.5 million children. Foundation will train about 3500-4000 teachers and professionals in 5 years. He has already established Azim Premji University and stared some courses like Master of Arts (M.A.) in Development and M.A. in Education. In terms of philanthropy , he is also called India’s Bill Gates . Interesting to see Mr Azim Premji is also following Warren Buffet and Bill Gates like Charitable giving path.
We need more billionaires like Mr. Azim Premji for better social and economic future!
Lesson learnt: Give back some portion of your earnings to society/people in need.
About Wipro group: Wipro (NYSE and BSE) is a $7.37 billion information technology; consulting and outsourcing firm having 140000 employees in 57 countries with headquarter at India’s Silicon Valley, Bangalore, India. Company has diversified portfolio with other subsidiary engages into consumer care, lighting, health care and infrastructure engineering.
WIPRO’s Headquarter at Bangalore ( For Guitar and Piano lovers Clip contains a nice tune) :
See this News X group news. This is an old news when Mr. Premji had committed to this charity. But, current value, when he has fulfilled the promise, is about Rs. 12300 Crores than previous estimated Rs. 8946 Crores mentioned in this clip.
Mr. Azim Premji talks regarding “The role of public private partnerships in providing quality education to India’s masses “at CFR CEO Speakers series. Also, how he has transformed 4 million company to 7 billion group, his simple life style, etc. See Wipro channel collection video:
Watch more videos at Wipro’s official Youtube Channel
- India’s third richest man gives 1.27 bn pounds to children’s education charity
- Premji’s massive donation highlights importance of education
- Premji’s foundation to set up schools
- Forbes: Billionaire Azim Premji Is spending Big to close India’s teacher gap
- Forbes: Indian billionaire Follows Buffet, Gates Into Greater Charitable Giving
- Azim Premji pledges to donate huge chunk of his wealth to charity
- Azim Prmji to donate more wealth to philanthropy
- Azim Premji pledges more money for foundation
- BBC: Are India’s rich not philanthropic enough?
- NYtimes: Skipping rote memorization in Indian schools:
- IB Times: India’s Azim Premji of Wipro donates $2 bln for philanthropic activity
- Hindusthan Times: Premji says son Rishad will not be CEO of Wipro
Note: This is not an advertisement but an effort to highlight concept of doing business by giving back some portion to society. Hope this will be a role model for other big organizations and rich businessmen.
Sources: Wipro sites and foundation website, google search, YouTube, Wikipedia and other hyperlinks mentioned in the post.