Azim Premji to donate half his wealth to charity

Business tycoon Azim Premji to donate 50% of his wealth in charity work after he signed up for the ‘Giving Pledge’, an effort initiated by Warren Buffet and Bill Gates .

‘Giving Pledge’ asks business magnets to donate majority of their wealth to philanthropy. Wipro Founder and Chairman Azim Premji becomes the first Indian to do so.

“I was deeply influenced by Gandhi’s notion of holding one’s wealth in trusteeship, to be used for the betterment of society and not as if one owned it”, he said in a note.

“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 that belief,” he added.

In 2010, Azim Premji has donated 8.7% of the total stock of Wipro worth almost $2 billion (9,000 crore) from his personal stockholding for charity.

Azim Premji Foundation works tirelessly to improve the public schooling system in India.

The Giving Pledge now has 12 new signatories from across the globe including Andrew Forrest, Vladimir Potanin, Victor Pinchuk, Richard Branson and Chris Cooper-Hohn.

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