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BUSINESS
Few people come close to matching a vision as strong and farsighted as tech billionaire Azim Premji's. At the age of 21, Premji had to quit his studies at a top institute in the US to take care of his family business after his father's death. Read on to know his story.
Few people come close to matching a vision as strong and farsighted as tech billionaire Azim Premji's. At the age of 21, Premji had to quit his studies at a top institute abroad to take care of his family business after his father's death. But post that, there was no looking back for him. Premji eventually transformed the cooking oil firm into one of the biggest tech giants in the world. This is his story.
Personal life
Azim Hashim Premji was born on July 24, 1945 in Mumbai into a Muslim family originally from Gujarat. He is the son of Muhammed Hashim Premji, who was known as the "Rice King of Burma" for his significant control over rice trade in Burma (now Myanmar) in the 1940s. Premji completed a Bachelor of Science in Electrical Engineering from Stanford University in 1999 via distance learning mode, decades after having dropped out from the college in 1966. He is married to Yasmeen Premji and the couple has two sons, Rishad and Tariq.
Business and work
Premji took over the Western Indian Vegetable Products Limited at age 21 after his father’s death. The company at the time dealt in hydrogenated oils, bakery fats, toiletries, lighting, and hydraulic cylinders. In the 1980s, Premji shifted the company's focus to IT services, benefiting from IBM’s exit from India. Under his guidance, Wipro went on to become a global tech giant, specialising in software development, consulting, and outsourcing services.
Premji was the company's chairman from 1966 to 2019 and now serves as its founder-chairman and non-executive member.
Philanthropy and awards
Premji is renowned for his philanthropic ventures and contributions across various sectors. Some of the most prominent organisations founded by him include the Azim Premji Foundation and the Azim Premji University.
In 2013, Premji had committed to donate at least half of his wealth, and is often called one of the most generous philanthropists in India and across the globe. "Those of us who are privileged to have wealth should contribute significantly to create a better world," the billionaire once said.
Premji has been conferred with several major awards, including the Padma Bhushan in 2005 and the Padma Vibhushan in 2011 -- India's third- and second-highest honours for civilians. He was also awarded France’s highest civilian honour.
Net worth
Premji has an estimated net worth of USD 11.7 billion or over Rs 1 lakh crore, according to Forbes, ranking him among the wealthiest in India.