This man’s generosity crashed the wealth of Indian billionaires by $16 billion
- Premji’s donations have left a dent of $16 billion in the collective wealth of Indian billionaires.
- According to Forbes, the wealth of Indian billionaires shrunk by 23% to $313 billion due to coronavirus.
- A part of this is because
Premji’s wealth decreased from $22.6 billion in 2019 to $6.1 billion this year.
- Recently, his charitable initiative —
Azim Premji Foundationand Wipro — the IT major he founded — set aside ₹1125 crore to fight the coronavirus pandemic.
Azim Premji donated as much as $16 billion of his wealth, and that has affected the collective wealth number of 102 Indian billionaires.
According to Forbes, the wealth of all
Last year, Indian billionaires lost as much as $93 billion, and Premji’s donations had a small but impactful effect on their collective wealth.
Premji is one of the world’s most generous billionaires and has also opened his heart and purse as India fights the Covid-19 pandemic.
His charitable initiative —
In March 2019, Premji set aside 34% of his Wipro shares worth $7.5 billion for charity. Until last June 2019, Premji’s total contribution to philanthropy stood $21 billion — which was 30% greater than his net worth at that time.
In 2013, he also agreed to give away half of his wealth to support an initiative led by Warren Buffet and Bill Gates two of the richest men in the world
In 2001, Premji started Premji Foundation, a not-for-profit organization which aims to improve public school education in India. Currently, foundation works out of seven Indian states with over 350,000 schools.
See also: Azim Premji – India's most generous billionaire – and companies donate ₹1,125 crore to fight Covid-19
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