India’s billionaire chief of Wipro Ltd. Azim Premji, is getting set to make a record high of generous donations in the country of 34 percent of the shares in his company amounting to $7.5 billion solely for philanthropic activities.
One of the richest industrialists of India, Premji announced his plan of generosity on Wednesday through his Azim Premji Foundation.
“With this action, the total value of the philanthropic endowment corpus contributed by Mr. Premji is $21 billion, which includes 67% of economic ownership of Wipro,” read the foundation’s statement.
Presently the business tycoon’s foundation is embroiled in India’s education sector providing educational facilities to over 150 NGOs and individuals hailing from adverse roots.
Presently the foundation is looking to uplift the contributions in the coming years and aiming to take the numbers to at least three times higher.
While it is presently looking to expand Bangalore-based university to over 5,000 students and more than 400 faculty members, another university in northern India is on the cards as well.
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