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HindustanTimes Thu,02 Oct 2014

Premji to commit more of his wealth to philanthropy Bangalore

PTI  Bangalore, February 19, 2013
First Published: 16:09 IST(19/2/2013) | Last Updated: 16:17 IST(19/2/2013)

Wipro Chairman Azim Premji  said on tuesday that he will commit more of his wealth to philanthropy, as his Foundation scales up work to improve equity and quality of the primary education system in the country.

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The business tycoon who is also the Chairman of Azim Premji Foundation, has donated 8.7 per cent of the total stock of Wipro from his personal stock-holding for philanthropy in 2010. This formed the endowment for the Foundation.

In a letter for the first international "Giving Pledge", group, he said the Foundation currently has 800 people spread across the country: most of whom are working for the betterment of some of the most disadvantaged regions of the country, and others at the Azim Premji University here.

"The Foundation plans to scale up to 4000-5000 people over the next five years", Premji said. "The developments of the past two years have given me confidence in our scaled up and institutional strategy.

Even as we execute this strategy, I am aware that ensuring stable funding source is critical for its success. I am committed to transferring more of my wealth to scale up the Endowment of the Foundation," he said.

"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. I will continue to act on this belief," Premji added.


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