Karnataka: Premji to commit more of his wealth to philanthropy

February 21, 2013

Wipro chairman Azim Premji on February 19 said he will commit more of his wealth to philanthropy, as his Foundation scales up work to improve equity and quality of the primary education system in the country. The business tycoon who is also the chairman of Azim Premji Foundation, has donated 8.7 percent of his personal stock-holding in Wipro for philanthropy in 2010, which formed the endowment for the Foundation.

In a letter to the first international “Giving Pledge”, group, he said the Foundation currently has 800 people spread across the country, most of whom are working for the betterment of some of the most disadvantaged regions of the country.

“The Foundation plans to scale up to 4000-5000 people over the next five years”, said Premji “The developments of the past two years have given me confidence in our scaled up and institutional strategy. Even as we execute this strategy, I am aware that ensuring stable funding source is critical for its success. I am committed to transferring more of my wealth to scale up the endowment of the Foundation,” he said.

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