Azim Premji to commit more of his wealth to philanthropy

Azim Premji

Wipro Chairman Azim Premji today 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 per cent of the total stock of Wipro from his personal stock-holding for philanthropy in2010. This formed the endowment for the Foundation.

In a letter for 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, and others at the Azim Premji University here.

"The Foundation plans to scale up to 4000-5000 people

over the next five years", Premji said. "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.

"I strongly believe that those of us who are privileged to

have wealth should contribute significantly to try and create

a better world for the millions who are far less privileged. I

will continue to act on this belief," Premji added.

Premji recalled how he got influenced by a sense of idealism and genuine sense of nation building during India's

independence period."I was deeply influenced by Gandhi's notion of holding one's wealth in trusteeship, to be used for the betterment of society and not as if one owned it", Premji said.

In 1966 Premji dropped out from his studies at Stanford on

his father's untimely death (though he completed his

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