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Azim Premji has given 25% of his wealth to charity

Posted by on November 21, 2013 0 Comment

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Wipro chairman Azim Premji, who is having an estimated excess wealth $13 billion, said that a little over 25% of his fortune has already been plunged in social conscience.

Premji is among world’s bollionaire who have signed the Giving Pledge, a philanthropic brainchild of Bill Gates and Warren Buffett. According to the pledge one should donate 50% or more of one’s wealth to philanthropy. But Premji said the 50% obligation was only for US billionaires. “That pledge is not articulated for countries other than the US. They (Giving Pledge) have different forms of the pledge for different countries,” he said.

In February this year Premji transferred 12% of his stake in Wipro worth $2.2 billion to the Azim Premji Foundation, a philanthropic trust with a focus on education. In 2001, while setting up the trust, Premji transferred $125 million worth of Wipro shares, which was followed by Premji gifting additional shares worth $2 billion.

Premji said he was open to giving more, but was currently focused more on its utilization and whether he would pledge 50% of his wealth or not giving 50% is a completely personal question.

He has an obvious views on his intention of giving charity. Very often it is more difficult to use money well in philanthropy than it is to give money to philanthropy. We must supplement and enhance what they do and not substitute what they are doing.”

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