Indian tech billionaire gives an incredible £5.7BILLION to charity - the country's biggest ever donation to good causes
One of India's wealthiest billionaires has given £5.7 billion to charity, in the country's largest single charitable donation.
It brings the total donated by Wipro chairman Azim Premj, 73, to nearly £16 billion in cash and shares.
Mr Premj is India's second-richest person with an estimated current net worth of £14 million.
The tycoon, who built his father's vegetable oil business into global software conglomerate Wipro, has made several donations to his own charitable trust over the years.
The Azim Premji Foundation now owns 67 per cent of Wipro's shares, the foundation said in a statement reported on CNN.
Mr Premji was the first Indian to sign the Giving Pledge, a campaign started by Warren Buffett with Bill and Melinda Gates to encourage billionaires around the world to commit most of their wealth to charity.
His foundation works directly in education and supports over 150 other non-profits serving under-privileged and marginalized Indians through financial grants, Bloomberg reported.
The foundation set up the Azim Premji University to develop professionals in education and related human development domains, offer degree and education programs, and conduct research.
The foundation will scale up significantly in the coming years, it said in the statement.
The team working in education will grow from the current 1,600 people and grant-making activities will triple.
The Bengaluru-based university will expand to 5,000 students with over 400 faculty members. The foundation intends to set up another university in northern India.
Anurag Behar, chief sustainability officer at Wipro and chief executive officer of the Azim Premji Foundation, said: 'The visibly wealthy and the newly wealthy in India are clearly not as generous as the wealthy in, say, America.
'But India also has a substantial culture of philanthropy that is not conspicuous.'
zbc123, Gibraltar, Gibraltar, 4 days ago
Good guy Azim!
Jupiter1, London, United Kingdom, 4 days ago
Great to see kind people in the world. Other rich people take ne.
ExPat2003, Nanaimo, Canada, 5 days ago
He should set up a foundation that ex tes rapists. There's certainly enough of them in India.
Cenzored, Laguna Hills, United States, 5 days ago
Faith in humanity nudged a little in the direction today.
dlin2709, London, United Kingdom, 5 days ago
Why not food
Nnull, londinium, United Kingdom, 5 days ago
Well they won¿t be needing our aid then hopefully ,but no doubt this stupid country will carry on giving while people live on the streets here.
magic man, manchester, United Kingdom, 5 days ago
Uk stopped aid to india a while back. Lol
llII, East, United States, 5 days ago
Wow! Fantastic news!
Bob Smith III, columbus, United States, 5 days ago
sounds like a wait and see situation. he gave the capital in shares to his foundation, which did not sell them to raise cash for charitable purposes. now this charity donation is just idle stock in his own charity's hands.
On2Thought, Bury St. Edmunds, United Kingdom, 5 days ago
The share wouldn't be worth such an amount, if the company wasn't highly profitable. Consequently the foundation can do a lot of good just spending the dividends from the share. this is great news.
stephenjjj2, Tampa, United States, 5 days ago
Awesme. Well done mate.
Brylcreamboys, WORCESTER, United Kingdom, 5 days ago
Remind me how much we give to India in charity donations
Themeaningoflife, Toronto, Canada, 4 days ago
Did you study history? Do you have any idea how much your country loed from us?
James GG, Boston, United States, 5 days ago
That is what a call a great man and a real human being.
SandyPandyBrown, London, United Kingdom, 5 days ago
He is a good person. Bless him.
kafka85, Newcastle, United Kingdom, 5 days ago
Wow that's an incredible donation. Hopefully the money is put to good use. India has a lot of problems.
Ré Cee, Brooklyn, United States, 5 days ago
Dude, how about you spend it fing on your SEVERELY POLLUTED WATERWAYS like the Ganges? It's one of the most tragic things happening on the planet, and nobody is talking about it.
Version9, Naughty Corner UK, United Kingdom, 5 days ago
A billion people? Still reproducing at an unsustainable rate. Most of them poor and uneducated. His actions are generous but Indias problems are HUGE.