It feels very good when Top Billionaires from India donate their wealth to a cause. As such it has happened to one of the leading company owner Azim Premi. He is the founder of Wipro IT Services.
What is WIPRO? What are its services?
Wipro Technologies, also known as Wipro Limited, is an India-based software and technology service provider that targets the global market. The company later diversified into the manufacture of soaps and other consumer products and ventured into technology in 1985, selling locally-made computers.
At present the yearly Net profit of Wipro is Rs. 7000 Crore. This is huge and even the donation given by him is also very huge. Compared to other Billionaires Azim Premji has done a lot in terms of comparison to them.
Like, say some stats of other Billionaires. We will take the example of Mukesh Ambani. The total Net Income of Reliance Industries is around Rs. 33,612 Crores. But he had donated Rs. 434 Crore in the year 2018.
Wipro consumer care business mainly includes soaps, toiletries, personal care products, baby care products, wellness products, electrical wire devices, domestic and commercial lighting and modular office furniture.
The key brand in-home care includes:
The key brands in led bulbs:
How much Azim Premji has donated?
Before that let me explain to you the meaning of Philanthropy.
Philanthropy in simple words ” Love towards Mankind”. For example: If you donate your money towards any welfare it can be any means or any donation towards anything. You will be called as Philanthropist.
The main core concept of Philanthropist is not categorized into a specific cause. So the donated amount can be divided into many diversified fields. It can be under health, Education, Food so on.
Philanthropy in India has increased during the last few decades. According to Bain and Company’s India Philanthropy Report 2019, philanthropic funding from people has witnessed strong growth of 21 percent each year in the previous five decades.
Wipro chairperson Azim Premji’s recent contribution to philanthropic causes has brought him in the league of top philanthropists billionaires like Warren Buffett and Bill Gates.
These individuals donate over 60% of the total private funding estimated at Rs. 43,000 Crore. A significant portion comes from some of the leading giants. One such person is Azim Premji. He has single-handedly contributed nearly 80 percent of the large contributions by individuals since 2014.
This year Azim Premji gave away 34 percent of his Wipro Shares worth Rs.53,000 crore to philanthropic causes. He has donated USD 21 billion to charitable causes till date which is way more than any other Indian billionaire.
Premji’s total donation towards charity is nearly twice India’s private sector funds raised towards social causes in the past five years. In fact, Premji’s donation pledge is thrice what is mandated as the corporate social responsibility of corporates in the last 5 years.
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