Sunday, March 24, 2019
ADVT 
India

Indian Tech Billionaire Azim Premji Gives $7.5 Billion To Charity

Darpan News Desk IANS, 14 Mar, 2019
  • Indian Tech Billionaire Azim Premji Gives $7.5 Billion To Charity

Wipro Ltd Chairperson Azim Premji on Wednesday gave away 34% of his shares in the company, worth $7.5 billion (Rs 52,750 crore) to charitable causes.


“With this action, the total value of the philanthropic endowment corpus contributed by Mr Premji is $21 billion [Rs 1.45 lakh crore], which includes 67% of economic ownership of Wipro,” the company said in a press release


The statement added that the Azim Premji Foundation will scale up its activities in the next few years.


“ The team driving the field work in education is expected to grow significantly from the current 1,600 people, while the Azim Premji University [in Bengaluru] will expand to have 5,000 students with 400 faculty members across multiple programs,” it added.


“The grant-making activities will also continue to expand rapidly, growing three times from its current levels, supporting good work across multiple domains of social importance in India.”

 

In a release, the Azim Premji Foundation said: "The Foundation's extensive field work in education has been in some of the most disadvantaged parts of India, to help contribute to the improvement of quality and equity of the public (government) schooling system.


All this work has been in close partnership with various State Governments. Currently this field work is spread across Karnataka, Uttarakhand, Rajasthan, Chhattisgarh, Puducherry, Telangana, and Madhya Pradesh, along with some work in the north-eastern states of India.

 

The foundation works in the education sector, and supports over 150 other non-profit organisations serving underprivileged Indians through financial grants for a number of years, the press release said.


Indian households with over $50 million in net worth are expected to double by 2022, Mint reported. In 2017, there were 1,60,600 such households with a net worth of Rs 1.53 trillion. In 2022, this will rise to 3,30,400 households with a combined net worth of Rs 3.52 trillion.

MORE India ARTICLES

Man Kills Brother-In-Law For Allegedly Beating His Pregnant Sister

Man Kills Brother-In-Law For Allegedly Beating His Pregnant Sister

Both the men had an argument following which the accused allegedly beat up his brother-in-law and hit his head on a cement block, causing injuries to him, police said.

 

Man Kills Brother-In-Law For Allegedly Beating His Pregnant Sister

AAP Leader Chetan Singh Shot At In Tarn Taran While Trying To Save Girl From ‘Kidnapping’

AAP Leader Chetan Singh Shot At In Tarn Taran While Trying To Save Girl From ‘Kidnapping’

AAP’s Patiala (rural) unit president was shot at by unidentified assailants in Punjab’s Tarn Taran district on Thursday while he was trying to prevent them from kidnapping a girl, police said.

AAP Leader Chetan Singh Shot At In Tarn Taran While Trying To Save Girl From ‘Kidnapping’

Telugu Film Actor Among 3 More Arrested In NRI's Murder Case

Telugu Film Actor Among 3 More Arrested In NRI's Murder Case

Three more persons, including Telugu film comedian Surya Prasad, were arrested on Thursday in the murder case of Florida-based NRI businessman Chigurupati Jayaram, police said.

 

 

Telugu Film Actor Among 3 More Arrested In NRI's Murder Case

Manmohan Singh Not As Strong As Modi In Dealing With Terror: Sheila Dikshit

Manmohan Singh Not As Strong As Modi In Dealing With Terror: Sheila Dikshit

Delhi Congress chief Sheila Dikshit on Thursday said, “Manmohan Singh, yes I agree with you, was not as strong and as determined as he (Modi) is.”

Manmohan Singh Not As Strong As Modi In Dealing With Terror: Sheila Dikshit

Jaish Chief Stayed In Ashok & Janpath Hotels In Delhi In 1994

Jaish Chief Stayed In Ashok & Janpath Hotels In Delhi In 1994

The Jaish supremo arrived in India on a Portuguese passport in 1994. Over the next 15 days, he stayed at Hotel Janpath, then Karol Bagh and visited Darul-uloom Deoband in Saharanpur and Lucknow.

Jaish Chief Stayed In Ashok & Janpath Hotels In Delhi In 1994

Pennsylvania Father Gets Flooded With Birthday Messages After Sons’ Billboard Prank

Pennsylvania Father Gets Flooded With Birthday Messages After Sons’ Billboard Prank

At first, Chris Ferry’s two sons couldn’t decide what to get him for his 62nd birthday. Then one of them had a quirky idea to make it special but also pulling his legs a little. Now, the father has received over 15,000 calls!

 

Pennsylvania Father Gets Flooded With Birthday Messages After Sons’ Billboard Prank