Azim Premji Explained

Azim Premji
Birth Name:Azim Hashim Premji
Birth Date:1945 7, df=yes
Birth Place:Bombay, Bombay presidency, British India[1]
Children:Rishad Premji, Tariq Premji[2]
Alma Mater:Stanford University (B.S.E)[3]
Occupation:Founder Chairman of wipro
Honours:Padma Vibhushan (2011)
Signature:Signature of Azim Premji.svg

Azim Hashim Premji (born 24 July 1945) is an Indian businessman and philanthropist, who was the chairman of Wipro Limited. Premji remains a non-executive member of the board and founder chairman.[4] He is informally known as the Czar of the Indian IT Industry.[5] [6] He was responsible for guiding Wipro through four decades of diversification and growth, to finally emerge as one of the global leaders in the software industry.[7] [8] In 2010, he was voted among the 20 most powerful men in the world by Asiaweek.[9] He has twice been listed among the 100 most influential people by Time magazine, once in 2004 and more recently in 2011.[10] For years, he has been regularly listed one among The 500 Most Influential Muslims.[11] [12] He also serves as the Chancellor of Azim Premji University, Bangalore. Premji was awarded Padma Vibhushan, India's second highest civilian award, by the Government of India.[13]

According to the Forbes and Bloomberg Billionaires Index, Premji's net worth is estimated at $9.3 billion and $25 billion, respectively, as of February 2023.[14] In 2013, he agreed to give away at least half of his wealth by signing the Giving Pledge. Premji started with a $2.2 billion donation to the Azim Premji Foundation, focused on education in India.[15] He topped the EdelGive Hurun India Philanthropy List for 2020.[16] In 2019, he dropped from the 2nd position in the Forbes India Rich list to 17th position after giving away a huge amount to charity.[17]

Early life and education

Premji was born in Bombay, India in an Ismaili Muslim family from Gujarat.[18] His father was a noted businessman and was known as Rice King of Burma. Muhammad Ali Jinnah, founder of Pakistan, invited his father Muhammed Hashim Premji to come to Pakistan, he turned down the request and chose to remain in India.[19]

Premji has a Bachelor of Science in Electrical Engineering degree from Stanford University.[20] He is married to Yasmeen Premji. The couple have two children, Rishad and Tariq. Rishad Premji is currently the Chairman of the IT business, Wipro.[21]

Career

In 1945, Muhammed Hashim Premji incorporated Western Indian Vegetable Products Ltd, based at Amalner, a small town in the Jalgaon district of Maharashtra. It used to manufacture cooking oil under the brand name Sunflower Vanaspati, and a laundry soap called 787, a byproduct of oil manufacture.[22] In 1966, on the news of his father's death, the then 21-year-old Azim Premji returned home from Stanford University, where he was studying engineering, to take charge of Wipro.[23] The company, which was called Western Indian Vegetable Products at the time, dealt in hydrogenated oil manufacturing but Azim Premji later diversified the company to bakery fats, ethnic ingredient based toiletries, hair care soaps, baby toiletries, lighting products, and hydraulic cylinders. In the 1980s, the young entrepreneur, recognising the importance of the emerging IT field, took advantage of the vacuum left behind by the expulsion of IBM from India, changed the company name to Wipro and entered the high-technology sector by manufacturing minicomputers in technological collaboration with an American company Sentinel Computer Corporation.[24] [25] Thereafter, Premji made a focused shift from soaps to software.[26]

Recognition

Philanthropy

Azim Premji Foundation

The Giving Pledge

Premji has said that being rich "did not thrill" him.[42] He became the first Indian to sign up for the Giving Pledge, a campaign led by Warren Buffett and Bill Gates, to encourage the wealthiest people to make a commitment to give most of their wealth to philanthropic causes. He is the third non-American after Richard Branson and David Sainsbury to join this club.[43]

In April 2013 he said that he has already given more than 25 per cent of his personal wealth to charity.[44] [45]

In July 2015, he gave away an additional 18% of his stake in Wipro, taking his total contribution so far to 39%.[46] [47]

The first Indian to sign the Giving Pledge, his lifetime giving now stands at US$21 billion.[48] In April 2019, Azim Premji became the top Indian philanthropist.[49]

EdelGive Hurun India Philanthropy List

Azim Premji topped the list of "India's most generous" released by Hurun India and EdelGive on 10 November 2020. He donated ₹79.04 billion in financial year 2019–20 which is a 17-fold jump from the ₹4.53 billion donated in FY19. Education is the primary cause for his donations.[50] He retained his position in FY21 by donating ₹9,713 crore (US$1.33 billion).[51]

Controversy

In 2022, legal proceedings were initiated by a court in Bengaluru against Azim Premji for alleged corruption.[52]

See also

External links

Notes and References

  1. News: G. Craine. Anthony. Azim Premji. Encyclopædia Britannica. 14 May 2010. 10 August 2021.
  2. Web site: What you didn't know about Rishad Premji. 7 June 2007. Rediff.com. 7 December 2009.
  3. News: Forbes List Directory. 3 November 2009. Forbes. 7 December 2009. https://web.archive.org/web/20091129090553/http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Azim-Premji_1UFS.html. 29 November 2009 . live.
  4. News: 6 June 2019. Wipro's Azim Premji to hand over baton to son Rishad Premji. The Hindu. limited. 30 September 2020.
  5. Web site: Reddy. Bhupathi. 30 August 2015. Top 10 Entrepreneurs in India. dead. https://web.archive.org/web/20160126161619/https://www.entrepreneurssolutions.com/top-10-entrepreneurs-in-india-1-penchal-reddy-born13th-march-1990residencesingapore-nationalityindianyears-active-years-active-2012-to-presentqualificati/. 26 January 2016. 10 August 2021. entrepreneursolutions.com.
  6. Web site: The List of Great Entrepreneurs in India 2015 . mybtechlife.com . Srikar . Muthyala . 29 September 2015 . dead . https://web.archive.org/web/20160114000446/http://mybtechlife.com/the-list-of-great-entrepreneurs-in-india-2015/ . 14 January 2016 .
  7. Web site: Azim Premji. Forbes. 13 August 2021.
  8. News: The World's Billionaires. 3 March 2009. Forbes. 16 March 2009. https://web.archive.org/web/20090316053019/http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Azim-Premji_1UFS.html. 16 March 2009 . live.
  9. Web site: Azim Premji: Latest News, Videos and Azim Premji Photos. The Times of India. 26 May 2020.
  10. Bill . Gates . Bill Gates . Azim Premji – The 2011 Time 100. Time. https://web.archive.org/web/20110424130953/http://www.time.com/time/specials/packages/article/0,28804,2066367_2066369_2066101,00.html. 24 April 2011. 21 April 2011. 11 August 2021.
  11. Web site: Azim Premji. themuslim500.com. 11 August 2021.
  12. Web site: Syed. Amin Jafri. 22 Indians among world's influential Muslims. The Times of India. 12 October 2015. 11 August 2021.
  13. Web site: Premji happy to win Padma Vibhushan . 26 January 2011 .
  14. News: Bloomberg Billionaires Index – Azim Premji. Bloomberg.com . Bloomberg. 11 August 2021.
  15. News: Azim Premji Donates $2.3 Billion After Signing Giving Pledge. Karmali. Naazneen. Forbes. 23 February 2013. 11 August 2021.
  16. News: Azim Premji tops EdelGive Hurun India Philanthropy List 2020, Shiv Nadar & Mukesh Ambani follow. The Economic Times. 10 November 2020. 11 August 2021.
  17. News: Forbes India Rich list: Azim Premji drops from 2nd to 17th position after huge donation to charity. Business Today. 11 October 2019. 14 January 2022.
  18. Web site: Azim Premji, Chairman/CEO, Wipro. worldofceos.com. 10 August 2021. https://web.archive.org/web/20131227000058/http://www.worldofceos.com/dossiers/azim-premji. 27 December 2013. dead.
  19. Web site: Mandovi. Menon. Billionaire Profile: Azim Premji. 23 June 2011. mensxp.com. 10 August 2021.
  20. Web site: Azim H. Premji. Wipro. 10 August 2021.
  21. News: Azim Premji to retire as executive chairman of Wipro, son Rishad to take over . . 7 June 2019 . 7 June 2019.
  22. Web site: When Azim Premji's father said no, and no again . 20 July 2009 . 10 August 2021 . churumuri.wordpress.com.
  23. News: 7 June 2019. Such a long journey: Azim Premji and Wipro. The Economic Times. 2 June 2020.
  24. Chakravarty, 1998:2
  25. Web site: Home Page – Sentinel Technologies, Inc. https://web.archive.org/web/20210513070215/https://sentinel.com/. 13 May 2021. 13 August 2021. dead.
  26. Web site: Azim Premji Profile – Biography of Azim Premji – Information on Azeem Premji Wipro Technologies. iloveindia.com. 10 August 2021.
  27. News: Surojit. Chatterjee. Wipro chief features in Business Week's "30 Greatest Entrepreneurs of all Time" list. https://web.archive.org/web/20090705133216/http://www.ibtimes.co.in/articles/20070704/wipro-chief-features-in-business-week-30-greatest-entrepreneurs-of-all-time-list.htm. 5 July 2009. dead. International Business Times. 4 July 2007. 14 January 2022.
  28. News: India's best business minds converge at NITIEs Lakshya. Financial Express. 21 October 2006. 10 August 2021.
  29. Web site: Padma Awards Directory (1954–2013) . . 21 July 2015 . dead . https://web.archive.org/web/20151015193758/http://mha.nic.in/sites/upload_files/mha/files/LST-PDAWD-2013.pdf . 15 October 2015.
  30. News: Michael. S. Roth. Studying Abroad. roth.blogs.wesleyan.edu. Wesleyan University. 8 January 2010. 10 August 2021.
  31. News: Shankar. Bennur. Mysore varsity doctorate for Premji, Bhyrappa, Nagathihalli Chandrashekar. The Hindu. 16 April 2015. 11 August 2021.
  32. News: Padma Awards 2011: The winners. . 26 January 2011. 10 August 2021.
  33. News: India's 50 most powerful individuals; Mukesh Ambani tops. India Today. 14 April 2017. 11 August 2021.
  34. Web site: Meet Azim Premji, the wipro founder who donated 39% of his shares to a charitable trust. Business Insider India. 24 July 2019. 11 August 2021.
  35. News: Forbes Asia names Azim Premji Asia's most generous philanthropist . . 4 December 2019 . 11 August 2021.
  36. Web site: Çam. Deniz. From Azim Premji to Carlos Slim: The World's Most Generous Billionaires Outside Of The U.S.. 26 March 2019. 23 July 2021. Forbes.
  37. Web site: Azim Premji Foundation. azimpremjifoundation.org. 11 August 2021.
  38. News: Arnab. Paul . Wipro Chairman Premji pledges 34 percent of company shares for philanthropy . . Bengaluru, India . 13 March 2019 . 14 March 2019 .
  39. Web site: 18 May 2020. PTI. Azim Premji Foundation, NCBS, inStem ink partnership on enhanced testing for COVID-19. live. 11 August 2021. Deccan Herald. https://web.archive.org/web/20200614154934/https://www.deccanherald.com/business/business-news/azim-premji-foundation-ncbs-instem-ink-partnership-on-enhanced-testing-for-covid-19-839027.html . 14 June 2020 .
  40. Web site: Azim Premji Foundation, NCBS, InStem join hands to augment COVID-19 testing – eHealth Magazine. 19 May 2020. 11 August 2021. ehealth.eletsonline.com.
  41. Web site: Alerts on online scams / fraudulent mails. azimpremjifoundation.org. 11 August 2021.
  42. Web site: 28 June 2016. PTI. Premji to donate more to philanthropic causes. live. 11 August 2021. Indian Express. https://web.archive.org/web/20160826144033/http://epaper.indianexpress.com/c/11343877 . 26 August 2016 .
  43. News: Azim Premji donates half of his wealth. 10 August 2021. 20 February 2013. https://web.archive.org/web/20130310062218/http://www.in.com/news/business/azim-premji-donates-half-of-his-wealth-50187456-in-1.html. 10 March 2013. dead. IBN Live.
  44. News: Anshul. Dhamija. I have given 25% of my wealth to charity, Wipro chairman Azim Premji says . 11 August 2021 . 19 April 2013 . PTI . https://web.archive.org/web/20130419183337/https://timesofindia.indiatimes.com/india/i-have-given-25-of-my-wealth-to-charity-wipro-chairman-azim-premji-says/articleshow/19633650.cms . 19 April 2013 . . live.
  45. News: Anshul. Dhamija. I believe those of us who are privileged should contribute significantly to try and create a better world: Noble words and noble deeds of Azim Premji. 11 August 2021 . 23 February 2013 . .
  46. News: Azim Premji gives half of his stake in Wipro for charity. 8 July 2015 . . 9 July 2015.
  47. News: Arundhati. Ramanathan. Wipro's Azim Premji gives 18% of his stake in company for charity. https://web.archive.org/web/20150709104229/http://www.hindustantimes.com/business-news/philanthropist-aziz-premji-gifts-18-more-wipro-stake-to-charity/article1-1367284.aspx . dead . 9 July 2015 . 9 July 2015 . . 11 August 2021.
  48. Web site: Chung. Grace. Asia's 2019 Heroes Of Philanthropy: Catalysts For Change. 2 December 2019. 11 August 2021. Forbes.
  49. News: 2 April 2019. Why India's rich don't give their money away . BBC News. 14 June 2020.
  50. News: 10 November 2020. Wipro's Premji emerges as most generous Indian in FY20 . The Hindu. 11 November 2020. 0971-751X.
  51. Web site: Jaiswal. Priya. 29 October 2021. Azim Premji retains 'India's most generous' tag, donated ₹27 crore per day Full List. 4 January 2022. indiatvnews.com. India TV. en.
  52. Web site: Bengaluru court initiates criminal cases against Azim Premji for corruption allegations . Mid-day . 2022-01-28 . 2023-12-28.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Azim Premji".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.