Azim Premji Net Worth: Founder Chairman of Wipro LTD.

If you have a particular interest in the business scene of India, and you don’t know about Azim Premji, then you should reconsider your interests. That’s because Azim Premji is the one behind Wipro, one of the biggest IT and Consultation businesses in the country. Yes, he is the Founder Chairman of Wipro, and his life story is sure something everyone should look into because that’s pretty much the definition of inspiration. And just so you know, as of 2024, Azim Premji holds almost $11.9 billion net worth.

Early Life and Education

It was back in July of 1945 when Azim Premji was born in Bombay and yes, he is part of a family that is already rich and prosperous in business. His father, who is known as a man of his time, you know, as the “King of Rice in Burma” due to his prominence in the rice industry at that time. And if you still don’t get it, yes, we are talking about none other than Muhammed Hashim Premji. Coming back to Azim, well, he has also been academically smart. He was an Electrical Engineer at Stanford University, USA. Unfortunately, he had to cut short his studies because his father died unexpectedly in 1966. And yes, before he turned 21 Premji was already back in India to take the family company which then was only producing vegetable oil and soap.

Transformation of Wipro

And it is kinda a fun fact that initially, Wipro was called Western India Vegetable Products and it operated as a company manufacturing oil and soap. Yes, it was far from being one of the top IT and Consultancy companies in India, but who could have thought that a business that produces oil and soaps would make it this big in the IT industry, right? Back in those days, when Azim Premji joined the company, however, it began to make new breakthroughs. Like, in the 1980s, when the IT industry was still in its initial days, he came to the conclusion that it had a set of potential that was very fast and easy to plug into anything that required it. So he introduced rapid growth of other divisions like technology development, in fact, he called them the ‘division of technology’. Sure, it really was a bold move as it meant changing Wipro from being a manufacturer of everyday household products to being a major player in the IT sector. And we all know how that turned out for Wipro, and the credit for that really goes to none other than Azim Premji.

Philanthropy and the Giving Pledge

Not only has he been a successful businessman, but Azim Premji has also secured his position as one of the most philanthropic individuals worldwide, but how? Well, just for an example, the Azim Premji Foundation, formed in 2001, works to enhance the educational infrastructure of India. The NGO partners with school education institutions that serve over 350,000 students in various states, thus improving the opportunities for the children to receive better schooling, you know?

And yes, signing the Giving Pledge, a worldwide effort initiated by Bill Gates and Warren Buffett, in 2013 made Premji the first Indian to join this initiative. By adding his name to the list, Premji vowed to provide a majority of his assets to charity. As a result, throughout the years, he has donated a whopping $21 billion to his foundation, making it one of the largest charitable foundations globally.

Leadership and Legacy

After leading Wipro for decades, Azim Premji stepped down as Executive Chairman in 2019, passing the leadership to his son, Rishad Premji. It had to be done because Azim Premji had done his part, now it was time for the next generation to step up. Sure, Azim Premji may not get involved in the day-to-day operations at Wipro, but he is still the Founder Chairman of the company. Because of what he achieved throughout his lifetime, and how brought change to many lives in the country and on a global stage, he was awarded Padma Vibhushan, which is the second-highest civilian award from India. All in all, his legacy and his vision still stand beside our eyes, and Wipro is a living and functional example of that.