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Let us study more about Azim Premji, his family, achievements, books, foundations, etc. through this article. Azim Premji ranks third in the list of India’s richest Businessman and known to be a Business tycoon and a very smart investor too. The richest Indian business tycoon was born in Mumbai to a Gujarati Muslim Family, i.e. his ethnicity lies in the nerves of Gujarati. Azim Premji is married to Yasmeen and the couple has two childrens, named Rishad and Tariq. Currently he is 70 years old and has led the company since 1966.

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He was awarded an honorary doctorate in 2009 from Wesleyan University, Middletown, Connecticut for his exceptional work as a philanthropist. In 1966, the sudden demise of his father compelled him to leave his bachelor’s degree in-between and to take charge of Western Indian Vegetable Products Ltd, later abbreviated as WIPRO Ltd . Azim Premji’s father, Muhammad Hashem Premji, was permitted by Muhammad Ali Jinnah, the neighboring country’s founder, and first governor-general, to travel to Pakistan. His father, however, declined the invitation and remained in India.

Business Takeover

Author Yasmeen Premji is the wife of Azim Premji is a businessman from India. Yasmeen’s marriage to Azim Premji brought her into a completely new world, although it was not different. He is one of the most influential Indian leaders of the modern era. In addition to founding the non-profit Azim Premji Foundation, Azim Premji founded Azim Premji University. The 300,000 schools that make up the Azim Premji Foundation are spread throughout seven states in India. Premji graduated from Stanford University with a Bachelor of Science in Electrical Engineering.

Muhammed Hashim Premji established Western Indian Vegetable Products Ltd in 1945. The company is headquartered in Amalner, a tiny village in Maharashtra’s Jalgaon district. It used to produce laundry soap with the brand name 787 as well as frying oil under the Sunflower Vanaspati label as a by-product. After learning of his father’s passing in 1966, Azim Premji, who was 21 at the time and attending Stanford University to study engineering, went home to take over Wipro.

Yet this wasn’t all, for he went on to donate 2 billion dollars to this cause which became one of the largest donations ever made in India. According to the Forbes real-time net worth data, Premji has a net worth of $9.2B as of May 4, 2023. Apart from his stake in Wipro, Premji has also invested in several other companies, including ICICI Bank and HDFC Bank.

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He got married to Yasmeen Premji, a famous businesswoman and philanthropist. In 2001, he came up with Azim Premji Foundation with a vision of developing the elementary education system in rural government schools. This organisation works jointly with the six state governments and one UT . He carved a worldwide niche for himself after making Wipro one of the most massive information technology consulting and outsourcing firms in the world. In 2000, he completed his engineering degree, which he had to leave in-between in 1966. Azim Premji received an honorary doctorate from Middletown’s Wesleyan University in 2009.

Premji was conferred with an honorary doctorate by Mysore University. As of now, his total contribution to philanthropy stands at $21 billion, and that includes 67% stake in Wipro. He was also ranked 9th in the list of India’s 50 most powerful people of 2017 by India Today. He was honoured with Padma Vibhushan — one of the country’s highest honours — for his contribution to the IT industry in India. Azim Premji was born on July 24, 1945, which makes him 77 years old right now.

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@urbanaffairskerala.org is not related to any government body. We do not claim to be any government body and we are just a news portal that covers various updates and stories. Wesleyan University in Middletown gave him an honorary doctorate for all the good things he did for other people. He thinks that one’s values are the most important part of a business. Premji has said many times that it is important to stick to your values because he is sure that business success will come in the end.

His company’s IT division known as Wipro technologies ranks third among the largest software development company in India which generates the maximum revenue. According to an annual survey conducted, it is the 9th most valuable brand in India. He is known for his modesty and frugality in spite of his wealth and still Azim Premji drives a Toyota Corolla and prefers to fly in an economy class. This year spelled an 8% drop in the total wealth of business tycoons on the Forbes’ 2019 list to $452 billion. It had been a “challenging year for the nation’s wealthies” owing to the economic slowdown.

In 2010, Asiaweek voted him as the 20 most powerful men in the world. In fact by the Time Magazine he was listed twice among the 100 most influential people. Despite all his great achievements he is known for his modest lifestyle and humane personality.

The Great Khali Net Worth 2020

The city of Bombay, in the Bombay Presidency of British India, is both stunning and bustling with life. After finishing his education, Azim Hashim Premji immediately dove into the business world. The foundation aims to improve the quality of education in India and has been involved in several initiatives to promote literacy and primary education. He has committed to donating most of his fortune to charitable causes and has already distributed $21 billion towards enhancing primary education in India.

Additionally, it has been noted that Mr. Premji’s net worth has increased by 30% in recent years. In addition, Mr. Azim Premji owns 73 percent of Wipro and a private equity fund called Premji Invest, which looks after his portfolio, which is worth 2 billion USD. He claimed to have donated more than 25% of his wealth to charities as of April 2013.

At the age of 21, Azim Premji enrolled in Stanford University’s Bachelor of Science degree. He left school and took over Wipro after his father’s sudden demise. The Azim Premji Foundation, managed by Mr. Azim Premji, is a non-profit organization that has been assisting rural government schools with elementary education for the past 17 years. He has received recognition as both one of the nation’s powerful men and the most influential individual. According to the Bloomberg Billionaires Index, he has an estimated net worth of $32.8 billion, making him one of the wealthiest people in India. Both holding companies of Damani and Premji — DMart and Wipro, respectively, fall under the large-cap category with a market capitalization of about Rs 2.76 lakh crore and Rs 2.35 lakh crore as of today.

“All kinds of online giving, including crowdfunding, are growing, especially among younger givers,” the paper notes, citing a study by Charities Aid Foundation that shows India has added more than 100 million new donors since 2009 . ‘Retail’ or individual giving by India’s burgeoning middle-class is also increasing, the paper says, saying “this may be the biggest story in Indian philanthropy, and the area with the greatest potential”. This number was actually 12% less than in 2018, when a record 121 Indians had made it to the list, an 18% increase over 2017, making India the country with the third highest number of ultra-rich individuals, behind China and the US. Long Reads The Agtech Transformation How a combination of government push and private sector enthusiasm is changing Indian agriculture.

azim premji net worth has an innovation centre in Silicon Valley, which is focused on developing new technologies and collaborating with startups. Ever since he took control of Wipro, he diversified the company from producing vegetable oil to providing IT services, software solutions, and consulting services. He participated in the Giving Pledge, a campaign that encourages wealthy people to donate a massive amount of their wealth to philanthropic causes and he became the first Indian to become the part of it. WIPRO was incorporated by his father in 1945 at Amalner, a small town in Maharashtra. The company produced a laundry soap named 787 and cooking oil with the brand name Sunflower Vanaspati. This is a custom search result for pattern tariq azim premji.To see full superstar portfolios of large investors like Jhunjhunwala, Damani and others, click here.

There is sentimental reason to continue in traditional businesses. The consumer care business is Premji’s inheritance from his father, which just like the zest for made-in-India products, has stayed with the family. Jinnah had tried hard to convince Premji’s father to migrate to Pakistan and even offered him the post of finance minister. Not to say that Premji was not ambitious in pursuit of entrepreneurial success.

With a dedication to his principles and perseverance, he has transformed a 2-million-dollar hydrogenated cooking fat company into an 8-billion-dollar enterprise with operations in 58 nations. Azim Premji is a leading business tycoon in India and the former chairman of Wipro Limited, among India’s largest software services providers. Premji inherited Wipro at the age of 21 from his father and diversified the company from producing vegetable oil to providing IT services, software solutions, and consulting services. He is also a well-known philanthropist who has so far given away $21 billion to his charitable foundation. In 2020, his Azim Premji Foundation pledged $150 million to provide aid for those affected by the Covid-19 pandemic.

To be sure, nobody – including Premji – would doubt that at current share prices Wipro is massively overvalued. The company has done nothing to deserve a 200 per cent rise in its value in 20 days. By that reckoning, much of Premji’s wealth too is notional and transitory.

However, pertaining to his magnanimous donations, he has dropped to the 17th position, with a current net worth of Rs 50,000 Cr., according to Forbes. As for his company, Wipro, their annual revenue generation of Rs 58,000 Cr. Coming from a middle-class family, the 74-year-old had in 1966 enrolled himself for a degree in Engineering from Stanford. However, unfortunately, he had to leave it midway after being victim to unfavourable circumstances. His father, Mohamed Hashem Premji, suffered an untimely death and a young Premji had to drop his education to take over the baton at Wipro.

Let your tee do the talking – The Financial Express

Let your tee do the talking.

Posted: Sun, 23 Apr 2023 07:00:00 GMT [source]

Azim Premji continued to hold the top rank among Indian philanthropists by giving Rs 9,713 crore in donations in FY21, or Rs 27 million per day. Azim Premji was born in Bombay in a Shia Muslim family with roots from Kutch in Gujarat. In the years 2004 and 2011, he was listed in the Top 100 Most Influential People.

Its sandalwood soap brand Santoor has now become the second largest player in the segment in India with sales of over Rs 2,650 crore. The NCLT is looking at the company’s proposal to merge Wipro Technologies Austria, Wipro Information Technology Austria, NewLogic Technologies SARL and Appirio India Cloud Solutions with itself. If the NCLT’s approval comes through, the company might consider a proposal to buy back shares worth $1-1.2 billion in the Jan-March quarter, sources said. Adani Group chairman Gautam Adani has committed to donate Rs 60,000 crore ($7.7 billion) to social causes. Adani’s corpus will be administered by the Adani Foundation, making it one of the biggest transfers to a philanthropic trust in India. Adani’s corpus will be administered by the Adani Foundation, making it one of the biggest transfers to a philanthropic trust in India.

  • By signing the Giving Pledge in 2013, he committed to giving away at least half of his wealth.
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  • The steel baron had bagged third place last year with a net worth of $18.3 billion.
  • Adding to his existing contributions, this contribution raised his donations to a whopping 67%.
  • If you have any thoughts about Azim Premji Biography, Earning, Salary, rich status and Net worth.

In no time he made Wipro position itself as a leading IT competitor, making the company reach a global status and himself as one of the richest men worldwide. India’s richest person has a net worth of $150 billion, while the richest woman has a net worth of $16.4 billion. Business tycoon and the former chairman of Wipro Limited Azim Premji inherited control of Wipro from his father in 1966 at the age of 21. Under his leadership, Wipro diversified from producing vegetable oil to providing IT services, software solutions, and consulting services.

Azim Premji remains India’s top philanthropist despite a deceptive low in FY22 – CNBCTV18

Azim Premji remains India’s top philanthropist despite a deceptive low in FY22.

Posted: Thu, 02 Mar 2023 08:00:00 GMT [source]

This hearty contribution aided Premji in joining the elite list of biggest philanthropists that includes Warren Buffet, Bill Gates and his wife Melinda Gates among others. He is both a philanthropist and the proprietor of Wipro Limited. He is the fourth wealthiest person in India and the 61st richest person in the world. Premji is renowned for his simple living and kind demeanor despite all of his outstanding accomplishments. Ambani, 63, who has been selling stakes in telecom and retail arms, is also in the global top five.

The steel baron had bagged third place last year with a net worth of $18.3 billion. This steep decline came on account of falling steel prices and muted demand. The rise of Wipro Ltd from producing consumer goods to transforming it into one of the world leaders in the IT sector was possible only by Azim Premji and his vision. He not only became one of the richest people in India but also continues to use his wealth to make the lives of less privileged people better. Identifying the importance of emerging IT field in the 1980s, he started manufacturing minicomputers in collaboration with Sentinel Computer Corporation, an American company and shifted his focus from soaps to software.

Meanwhile, due to substantial increases in technology stocks at that time, Wipro’s value skyrocketed in the late 1990s, making Premji one of the richest entrepreneurs in the world. But Azim Hasham Premji – estimated personal wealth $35 billion – does none of that. In fact, the only power he emits is to the meaning of the term self-effacing. The chairman of the Bangalore-based Wipro Corporation – estimated current value $47 billion – is both embarrassed and dismissive of being rated among the five richest persons in the world and the richest Indian ever on earth. Wipro shares with a face value of Rs 2 had touched a high of Rs 9,600 on the stock markets last week.