Azim Hashim Premji (born 24 July 1945) is an Indian billionaire businessman and philanthropist, who was the chairman of Wipro. Premji remains a non-executive member of the board and founder chairman.[4][5][6] In 2010, he was voted among the 20 most powerful men in the world by Asiaweek.[7] He was listed among the 100 most influential people by Time magazine, in 2004 and 2011.[8] For years, he has been regularly listed one among The 500 Most Influential Muslims.[9][10]
In October 2023, Forbes estimated Premji's net worth at $11.6 billion.[12] In 2013, he signed the Giving Pledge, committing to give away at least half of his wealth, starting with a $2.2 billion donation to the Azim Premji Foundation, focused on education in India.[13] He has topped the EdelGive Hurun India Philanthropy List on multiple occasions.[14][15]
Premji was born in Bombay, British India in a Gujarati Ismaili Khoja Muslim family.[1][16] His father was a noted businessman and was known as Rice King of Burma. Muhammad Ali Jinnah, founder of Pakistan, invited his father Muhammed Hashim Premji to come to Pakistan, he turned down the request and chose to remain in India.[17]
Premji has a Bachelor of Science in Electrical Engineering degree from Stanford University.[18] He is married to Yasmeen Premji. The couple have two children, Rishad and Tariq. Rishad Premji is currently the Chairman of the Wipro.[19]
In 1945, Muhammed Hashim Premji incorporated Western Indian Vegetable Products Ltd, based at Amalner, a small town in the Jalgaon district of Maharashtra. It used to manufacture cooking oil under the brand name Sunflower Vanaspati, and a laundry soap called 787, a byproduct of oil manufacture.[20] In 1966, on the news of his father's death, the then 21-year-old Azim Premji returned home from Stanford University, where he was studying engineering, to take charge of Wipro.[21] The company, which was called Western Indian Vegetable Products at the time, dealt in hydrogenated oil manufacturing but Azim Premji later diversified the company to bakery fats, ethnic ingredient based toiletries, hair care soaps, baby toiletries, lighting products, and hydraulic cylinders. In the 1980s, in the aftermath of the expulsion of IBM from India, Premji changed the company name to Wipro and entered the high-technology sector by manufacturing minicomputers in technological collaboration with an American company Sentinel Computer Corporation.[22][23] Thereafter, Premji made a focused shift from soaps to software.[24]
In 2006, Premji set up his family office named PremjiInvest (PI).[25][26]
In 2001, he founded the Azim Premji Foundation, a non-profit organization[36] focused on improving the public school system in disadvantaged regions of India.[37]
In December 2010, he pledged to donate US$2 billion for improving school education in India by transferring 213 million equity shares or 8.7% stake in Wipro, held by a few entities controlled by him, to the Azim Premji Trustee Company.[38] In February 2013, he transferred a 12% stake in Wipro to the Azim Premji Foundation.[39][40] In July 2015, he gave away an additional 18% of his stake in Wipro to the foundation, taking his total contribution to 39%.[41][42]
In March 2019, Premji pledged an additional 34% of Wipro stock held by him to the foundation, increasing the total endowment from him to the foundation to US$21 billion,[43][44] which made him the top Indian philanthropist.[45]
In April 2020, the Azim Premji Foundation, Wipro, and Wipro Enterprises committed ₹1,125 crore (US$140 million) to COVID-19 relief efforts.[46] This was followed by an additional commitment of ₹1,000 crore in June 2021 to support the universal vaccination program.[47]
In 2013, Premji became the first Indian to sign up for the Giving Pledge, a campaign led by Warren Buffett and Bill Gates, to encourage the wealthiest people to make a commitment to give most of their wealth to philanthropic causes. He is the third non-American after Richard Branson and David Sainsbury to join this club.[48][49]
"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."
Beginning in 2020, Premji was named in a series of lawsuits filed via the NGO India Awake for Transparency.[50] The Karnataka High Court characterized the suits as "frivolous", dismissed them, and jailed two complainants for contempt.[51] In March 2022, the Supreme Court noted an unconditional apology from the principal complainant and closed the remaining matters.[52]
