Azim Premji to donate over 50,000 Crore to the philanthropic field
Azim Premji, who ranks second in the list of richest people in India, announces the donation of billions to his philanthropic foundation.
Premji, who is also the chairperson of Wipro Limited added to the billions of dollars worth he has donated by promising 34 percent of shares in Wipro – worth 7.5 billion dollars or 52,750 crores.
Therefore, the total amount to be donated is nearly 1,45, 000 crores – or 21 billion dollars. This has been among the largest donations across the globe.
A non-profit foundation made back in 2000 aims at enhancing literacy in the country. This also led the formation of the Azim Premji University in 2010. The objective of the University is to “change the public education system rather than create ‘islands of excellence.”
Sharing the foundation’s views, officials of the Azim Premji Foundation stated: “The Foundation’s huge fieldwork in education has been in some of the most unprivileged parts of the country, to help give to the improvement of quality and equity of the public (government) schooling system. All this work has been in close collaborations with various State Governments. Presently, this fieldwork is spread across Karnataka, Uttarakhand, Rajasthan, Chhattisgarh, Puducherry, Telangana, and Madhya Pradesh, along with some work in the north-eastern states of India.”
The action to help other not-for-profits by giving multi-year grants was began in 2014 by the Foundation.
In the past five years, these grants have helped more than150 organisations engaged in various areas in India.
Azim Premji has also been the first Indian to sign the giving pledge initiated by American billionaires, Bill Gates and Warren Buffet to promise at least half of their fortune to philanthropic work.