Azim Premji: The Visionary Philanthropist Leader Who Transformed Wipro into a Global IT Powerhouse

One name that carries excellence in corporate and philanthropic contributions is Azim Premji. The man who transformed this small vegetable oil company into the largest IT service firm in the world was formerly the Chairman of Wipro Limited. Besides, he is widely known as a philanthropic giver and has been a contributing factor to making him one of the most effective change-makers in India. His life is the story of innovation, hard work, and love, a legend for any entrepreneur and humanitarian worldwide.

Earlier, he was popularly known as the Czar of the Indian IT industry; he managed Wipro for nearly four decades in the growth phases of diversification, where he allowed the brand to emerge as one of the world's leaders in the global software space.

By 2010, Asiaweek elected him the world's 20 most powerful man. He was featured on the list of Time magazine not once but twice: first in 2004 and secondly in 2011 in a list of its 100 most influential people in the world. By 2024 Forbes India ranked him as India's 19th richest leader with over $32.2 billion worth.

Azim Premji - Biography

Azim Premji - Early Life and Education
Azim Premji - Transforming Wipro
Azim Premji - Philanthropy
Azim Premji - Awards and Recognition
Azim Premji - Personal Life
Facts About Azim Premji
Azim Premji’s Legacy

Azim Premji - Early Life and Education

Azim Premji, from a well-established Nizari Ismaili Shia Muslim background, was born on July 24, 1945 in Bombay, India. His father, Muhammad Hashim Premji, was known as another celebrity businessman: The Rice King of Burma. He was the founder of Western India Vegetable Products Ltd, then renamed Wipro. He inherited the entrepreneurship spirit from his father and, in fact, proved it by assuming the family business at the age of 21. His father unexpectedly died.

Premji joined Stanford to pursue engineering courses. However, his father passed away in 1966 forcing him to head the family enterprise back in India. He later cleared his degree in Electrical Engineering via correspondence courses he was undertaking for himself.

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Azim Premji - Transforming Wipro

• Early Leadership: Premji led Wipro from a small company producing hydrogenated cooking fats to a diversified conglomerate to become the top IT services organization in the world. In the 1970s, an emerging IT sector was seen by Premji, which had enough potential and Wipro turned toward technology and software services.
• Growth and Global Success: Wipro became synonymous with innovation and quality in the IT industry. Wipro's sharp strategic vision helped Premji achieve his dream when the company got listed on the New York Stock Exchange in 2000-an important milestone marking the global aspiration of the company. As of the day he stepped down as chairman in 2019, Wipro has had operations in over 60 countries and over 170,000 workers.
• Business Philosophy: Premji supported ethical business practices, customer-focused strategies, and commitment to excellence. He believed in managing a culture of learning and innovation by empowering employees, hence contributing significantly toward the sustained growth of Wipro.

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Azim Premji - Philanthropy

Azim Premji is known as one of the most important philanthropists in the world and has received numerous awards and recognitions for them. Some of his philanthropic roles are:

• Azim Premji Foundation: His journey in philanthropy is as significant as his corporate successes. In 2001, he founded the not-for-profit organization Azim Premji Foundation aimed at improving rural children's education in India. December 2010; vowed to invest USD billion towards better schooling in India by transferring the equity shares holding in Wipro Ltd. The worth is 213 million equity shares, Azim Premji Trust. One of the biggest donations in Indian history.

He committed another 34% of his individual holding in Wipro in March 2019. His share, as of date worth $7.5 billion, will make the contribution from the founder to the tune of $21 billion. To respond to the requirements generated by the COVID-19 scenario, the foundation and its partners, the National Centre for Biological Sciences and the Institute for Stem Cell Science and Regenerative Medicine, upgraded the testing infrastructure in May 2020.

• Commitment to the Giving Pledge: He also became the first Indian in 2013 to enroll in the Giving Pledge created by Bill Gates and Warren Buffett, pledging at least half his wealth to give. So far, he has donated over $21 billion to his foundation which places him among the most generous philanthropists alive. He is the third non-American after David Sainsbury and Richard Branson in this club.
• EdelGive Hurun India Philanthropy List: Azim Premji tops the list of “India’s most generous” leaders released by Hurun India and EdelGive in November 2020. He is known to have donated INR 79.04 billion, for the financial year 2019-20, mainly towards improving education. He again donated INR9713 crore in the financial 2021.

Azim Premji - Awards and Recognition

• Ranked one of the "Greatest Entrepreneurs" by Business Week for Wipro
• Manipal Academy of Higher Education, (2000) Honorary Doctorate Awarded
• Business Week (2004): Ranked in "Greatest Entrepreneurs of All Time".
• Time Magazine, (2004 & 2011): Named to 100 most influential people in the world.
• Awardee of National Institute of Industrial Engineering 2006 Lakshya Business Visionary
• Padma Bhushan, 2005: for distinguished service to trade and commerce.
• Honorary Doctoral Degree from Wesleyan University, Middletown, Connecticut, 2009, for distinguished philanthropic efforts.
• Padma Vibhushan, India's second most prestigious civilian honor (2011) For exceptional service to the nation
• Lifetime Achievement Award from Forbes India Philanthropy Awards 2012
• Asian Business Leaders Award 2013 for excellence in corporate social responsibility.
• Mysore University, 2015: Honorary doctorate
• India Today Magazine (2017): Ranked him 9th in India's most powerful 50 people
• Knight, Legion d'Honneur of France (2018): highest French civilian award conferred by French Govt
• Featured on "Heroes of Philanthropy list of 20 altruists" in Asia-Pacific region - Forbes Magazine 2019. Additionally, he features in the lists of the World's most charitable philanthropists outside of the USA.

Azim Premji - Personal Life

Azim Premji is married to Yasmeen Premji, who is also a well-renowned writer and philanthropist. He and Yasmeen have two children, Rishad and Tariq. Rishad Premji today is the executive chairman of Wipro, just like his father before him.

Premji is a man of simple living and dislikes ostentation. This is one reason why he still flies economy class and drives an ordinary car even though he is one of the richest men in India. He is the epitome of humility and responsibility.

Facts About Azim Premji

• Azim Premji took over Wipro at the age of 21 when his father died suddenly. Then, Wipro was mainly a company dealing in vegetable oils and soaps. Under his vision, it turned into a global IT giant.
• Although he is one of India's richest individuals, Premji is a thrift. He saved money by employing such simple austerity measures as sticking paper clips into documents instead of staples and reserving office furniture for reuse.
• The Azim Premji Foundation alone has given away more than 66% of its wealth to charity. It thus makes him the largest philanthropist individual in India and indeed one of the greatest philanthropists in the world.
• In 2019, Premji released shares to the tune of $7.5 billion to his foundation, which made him the biggest individual philanthropic giver in that country.
• Corporate governance and transparency are highly advocated for by Premji. He believes that long-term profitability in business is guaranteed through adherence to principles that are right and just.
• He is credited with pioneering the Indian IT outsourcing model that has enabled the bringing in of global clients into Indian tech companies, and in fact, transformed the way Indian tech businesses function.
• He has also made Wipro one of the first companies in India to bring in structured employee training programs and developmental workshops so that their employees are constantly being upskilled.
• The Azim Premji Foundation operates with more than 500,000 teachers across India, hoping to improve the quality of government schools.
• Premji believes that wealth should not be inherited indiscriminately but rather used to serve the greater good. His foundation’s structure reflects this philosophy.
• Premji still has a humble life, from taking a basic Toyota Corolla around to staying at budget hotels.
• During his time as a head, Wipro began practicing sustainability, thus it is considered among the earliest Indian businesses that embraced an intent toward utilizing renewable sources and non-environmentally friendly businesses.
• Premji is reported to mentor young entrepreneurs and help them understand what ethical business and long-term sustainability mean.
• Under the leadership of Azim Premji, Wipro has entered the digital age with all its emerging trends like cloud computing, AI, and data analytics, even ahead of their going mainstream.

Azim Premji’s Legacy

The life story of Azim Premji exemplified the power of vision, tenacity, and compassion. A global giant due to his inspiring leadership at Wipro, with a philanthropy touch, Premji has transformed millions of lives. Not only an ethical practitioner but also a tireless champion for social responsibility, and innovation, a whole generation of entrepreneurs and social changemakers has been inspired by Premji.

His legacy in business and philanthropy together underlines the transformative potential of wealth when it is accompanied by a sense of responsibility toward society.

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FAQs

Who is Azim Premji?

Azim Premji is an Indian business tycoon, philanthropist, and former chairman of Wipro.

How did Premji take over Wipro?

He inherited the company at the young age of 21 after the sudden death of his father in 1966.Wipro was then a small vegetable oil company.

What is the Azim Premji Foundation?

It's a philanthropic organization focused on improving the quality of education in India, primarily in rural areas.