Early Life: A Journey Begins
Born into a middle-class family on 24 July 1945, Azim Premji took over his father’s company, Western India Vegetable Products Ltd, after his father’s sudden death and dropped out of his engineering studies at Stanford. Despite his young age, Premji showed resilience and vision. He expanded the company significantly, adding hydraulic cylinders, soaps and lighting products. In 1977, the company was renamed Wipro and began its rise in the IT industry.
Wipro’s Foray into IT
In 1980, Azim Premji took advantage of IBM’s withdrawal from India and led Wipro into the IT sector through a partnership with Sentinel Computers. This strategic shift towards software solutions, in addition to its hardware business, took Wipro into various sectors, including industrial cylinders and imaging products in partnership with General Electric. Under Premji’s leadership, Wipro also became a pioneer in offshore IT services. Emphasising ethical business practices and social responsibility, he built a culture of excellence that helped Wipro achieve the prestigious SEI Level 5 certification.
Recognition and Awards: A Testament to Premji’s Impact
Azim Premji’s impactful contributions have earned him many accolades. In 2019, Forbes Asia recognised him as Asia’s most generous philanthropist. He’s also been included in Business Week’s list of top entrepreneurs, Time’s 100 most influential people, and the Financial Times’ list of influential people. As the founder of Wipro Limited, he turned a humble cooking fat company into a global giant with revenues of over $10 billion. But it’s his commitment to philanthropy, donating 67% of his earnings to charity that makes him one of Asia’s top philanthropists.
Azim Premji Foundation: Catalysing Change in Education
In 2001, Azim Premji established the Azim Premji Foundation, a non-profit organisation focused on improving the quality and equity of India’s public school system. The Foundation works with more than 350,000 schools in seven Indian states to improve educational outcomes. Mr Premji has pledged 34% of Wipro’s shares to the foundation, valued at approximately $6.7 billion, making it one of Asia’s most significant philanthropic contributions.
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The Humble Titan: Azim Premji’s Modest Lifestyle
Despite his immense wealth, Azim Premji has chosen to live a modest and unassuming lifestyle. He shuns extravagant luxury and prefers to travel economy class, staying in the company’s guest houses during business trips. He is reported to often eat at the company canteen, further illustrating his down-to-earth nature.
A Lasting Legacy: The Impact of Premji’s Philanthropy
Azim Premji’s philanthropy extends beyond education to areas of human development such as nutrition, local governance and the welfare of vulnerable groups. His efforts have changed countless lives and made him one of the world’s leading philanthropists. Premji’s commitment to education and sustainable development has had a significant impact on Indian society. His ongoing contributions to the IT industry and philanthropy demonstrate the transformative potential of wealth used for the betterment of society.
