The establishment of the Azim Premji Foundation took place in 2000 with the aim of ensuring universal access to fundamental education. Later, in 2014, the organization expanded its efforts with the creation of the Azim Premji Philanthropic Initiatives division.
India is home to several prominent businessmen, including Mukesh Ambani, Ratan Tata, and Gautam Adani, among others. However, I will focus on one particular Indian businessman who stands out not only for his immense wealth but also for his exceptional generosity. The India Philanthropy Report 2023, conducted by Dasra and Bain & Co, reveals that India’s ultra-high net worth individuals (UHNIs) with a net worth exceeding Rs 1,000 crore witnessed a decline from Rs 11,811 crore in the previous year to Rs 4,230 crore in FY22.
According to reports, the decrease in donations by Rs 9,000 crore can be attributed to the founder and chairman of Wipro, Azim Premji. This reduction is primarily attributed to the direct benefit received by the foundations through a share buyback in 2021.
Azim Premji emerged as the most generous Indian, leading the philanthropy charts in both FY20 and FY21. His remarkable contributions amounted to an average of Rs 22 crore per day, totaling Rs 7,904 crore in FY20. In FY21, his philanthropic efforts increased further, averaging Rs 27 crore per day, with a total contribution of Rs 9,713 crore.
In FY22, Azim Premji occupied the second spot in terms of annual donations, with a contribution of Rs 484 crore. However, he continues to hold the position of India’s leading philanthropist in 2023.
During the challenging period of the Covid-19 pandemic, marked by an unprecedented health and humanitarian crisis, Wipro, under Azim Premji’s leadership, committed a total of Rs 1,125 crore. Among the contributions, Wipro Ltd pledged Rs 100 crore, Wipro Enterprises Ltd contributed Rs 25 crore, and the Azim Premji Foundation generously donated Rs 1,000 crore.
In 2019, Azim Premji made a significant contribution to philanthropy by donating a stake worth $7.6 billion from his IT outsourcing business to his nonprofit organization, The Azim Premji Foundation.
Founded in 2000, The Azim Premji Foundation aims to ensure universal access to basic education. In 2014, the organization further expanded its initiatives with the establishment of the Azim Premji Philanthropic Initiatives division.
Azim Premji stands out in India for his exceptional philanthropic contributions, surpassing the charitable donations of most individuals in the country. According to the rankings of top philanthropists by Hurun India and EdelGive Foundation, he secured the 12th position among them, having given at least ten times more to charitable causes.
Throughout his lifetime, Azim Premji has made significant contributions to charitable endeavors, receiving recognition and honors for his achievements. He has been awarded prestigious accolades such as the Carnegie Medal of Philanthropy and the Padma Bhushan, which is one of India’s highest civilian decorations.