High population growth rate is one of the major reasons for poverty in India. This further leads to high level of illiteracy, poor health care facilities and lack of access to financial resources. In fact, all issues with respect education, healthcare, and employment widespread in India are associated with the lack of suitable infrastructure and governance. Sadly, there isn’t much the government can do with limited resources and unlimited needs.
All taxpayers are contributors to the growth of the economy and creating a better world for people who do not have. Unfortunately, the velocity of this change has been very restricted. And then we have people, like Mr. Azim Premji, who dreams even bigger for fellow citizens and the world at large. How does one decide to just give away a large portion of wealth to a foundation to improve the lives of people?
As Kathy Calvin said, “Giving is not about making a donation, but it’s about making the difference.” And, Azim Premji is surely making the difference. Among numerous Indian magnates, he has one of the most generous heart and has broken all stereotypes in extending his helping hand to those in need.
A Little About Azim Hashim Premji
Seventy-four-year-old tech magnate Azim Hashim Premji has a net worth of US Dollars 22.6 billion. He is the second richest Indian in the world and holds #36 rank in the Forbes World’s Billionaire’s list of 2019 and was listed among the 100 most influential people for two years by TIME magazine. In 1966, due to the untimely death of his father he dropped out of education from the famous Stanford University. He took over his family’s cooking oil business and expanded it into a successful global software powerhouse.
In addition to serving as the chairman of Indian consulting and IT company Wipro, Azim Premji coined the Azim Premji Foundation in 2001. This foundation is an education-focused non-profit firm which actively works to improve access to primary education in India, including some of its most disadvantaged parts. This foundation operates through Premji’s reserved Wipro stock, and has introduced initiatives like the Computer Aided Learning program, which provides computer training in 18 languages, and Azim Premji University, a nonprofit university that awards degrees in teacher training.
One of the most interesting things about Premji is that, despite being one of the world’s richest men he sill fly’s economy class, avoids costly cars and brazen displays of wealth.
Azim Premji Donation – Biggest Single Donation Of India
Well, rich people indulging on luxury is no news today. What may come as a surprise is the fact that many of the millionaires take to philanthropy. What sets Azim Premji stout in Indian Philanthropy is his eponymous initiative – India biggest single donation ever of $7.5 billion.
Early this year, Premji made this astounding announcement that that all earnings from approximately 34% shares of India’s 4th largest software company Wipro which is worth about Rs 52,750 crore ($7.5 billion) — would be transferred the Azim Premji Foundation. With the latest contribution, the total value of funds committed by Premji to his foundation’s philanthropic activities is INR 1.45 trillion (i.e. $21 billion) – among the largest in the world.
In terms of philanthropic contributions in India, Azim Premji donation and contributions surpasses others by good margin. When it comes to total individual donations in India, Azim Premji donations alone account for more than 80%.
Premji was the first Indian to sign the Giving Pledge started by American billionaires, Bill Gates and Warren Buffet to commit at least 50% of their fortune to philanthropic work.
Premji – Taking Philanthropy To The Next Level
Philanthropy is not something new to our country because India is a nation that is built through great philanthropy of the Tatas, Birlas and others. When it comes to the next-gen tycoons, Azim Premji leads the way. He indeed has taken generosity to the next level.