The Azim Premji Foundation was founded in 2000 to provide universal access to basic education. In 2014, the Azim Premji Philanthropic Initiatives division was established.
There are many top businessmen in India today including Mukesh Ambani, Ratan Tata, and Gautam Adani, among others. But, today we will tell you about one such India's ultra-high net worth businessman who is also the most generous Indian. According to the India Philanthropy Report 2023 by Dasra and Bain & Co, India's ultra-high net worth individuals (UHNIs) with a net worth of above Rs 1,000 crore declined to Rs 4,230 crore in FY22 from Rs 11,811 crore the previous year.
Reports state that this happened because the founder and chairman of Wipro, Azim Premji, donated less money overall by Rs 9,000 crore "due to the share buyback in 2021 benefiting the foundations directly."
Azim Premji was declared the most generous Indian and was at the top of the philanthropy charts in FY20 and FY21. On average, Azim Premji gave Rs 22 crore per day, or Rs 7,904 crore, in FY20 and Rs 27 crore a day, or Rs 9,713 crore per day in FY21.
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While Azim Premji fell to the second spot in FY22 with an annual donation of Rs 484 crore, he still is and remains India's leading philanthropist in 2023.
During the "unprecedented health and humanitarian crisis" during the Covid-19 pandemic, Azim Premji's Wipro committed Rs 1,125 crore. Out of this, Wipro Ltd committed Rs 100 crore, Wipro Enterprises Ltd Rs 25 crore, and the Azim Premji Foundation Rs 1,000 crore.
Azim Premji became a part of history when he donated a $7.6 billion stake in his IT outsourcing business to his nonprofit, The Azim Premji Foundation in 2019.
The Azim Premji Foundation was founded in 2000 to provide universal access to basic education. In 2014, the Azim Premji Philanthropic Initiatives division was established.
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Compared to anyone else in India, Azim Premji has given at least ten times as much money to charitable causes, as per the rankings of the world's top philanthropists from Hurun India and EdelGive Foundation, which placed him No 12 among them.
Azim Premji has contributed immensely to charitable motivations throughout his life. For his achievements, he has won various honours including the Carnegie Medal of Philanthropy and the Padma Bhushan, one of India's highest civilian decorations.
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