In today’s era, more than 1000 employees work in his foundation. Premji had established the Azim Premji Foundation in the year 2000 with the aim of providing proper education to the needy people.
Azim Premji is considered to be the 12th biggest donor in the world
The name of Wipro’s Azim Premji has been counted among the most donating businessmen of the country. But do you know that their charitable organizations have got 18000 rupees in the last 5 years. That too from share buyback and dividend. In fact, Azim Premji’s two charitable companies, Azim Premji Trust and Azim Premji Philanthropic Initiative, have done 4 buybacks in 5 years.
These institutions have received huge amount through share buyback. This means that Azim Premji’s Wipro has repurchased the shares of these two companies 4 times in the last 5 years, due to which these two companies have earned a lot.
This is how big money became
Talking about the last four years, in the years 2017, 18, 2020 and 2021, the buyback amount of these institutions has been Rs 1964 crore, Rs 5894 crore, Rs 1318 crore and Rs 8156 crore. In the same year 2020, the buyback done by Wipro was of 9500 crores, of which 86 percent of the amount has been received by Azim Premji’s charitable organizations.
who will benefit
It is not clear whether the other companies controlled by Azim Premji will get the benefit of the philanthropic companies of Azim Premji during the last 5 years. At the same time, it is believed that Azim Premji donates 70 percent of the total earnings from his IT company Wipro to charity.
world’s 12th largest donor
Azim Premji is known for making donations. Recently, Hurun India in one of its reports had described Azim Premji as the 12th biggest donor in the world. The purpose of Azim Premji’s philanthropic companies is to improve the primary education of the country. In today’s era, more than 1000 employees work in his foundation. Premji had established the Azim Premji Foundation in the year 2000 with the aim of providing proper education to the needy people. Apart from Azim Premji, there are some other businessmen of the country who have created institutions for the benefit of the people. The Gates Foundation of Bill Gates is also one of these.
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