One seemingly ordinary day, Wipro CEO TK Kurien received an unexpected call from Azim Premji, the former chairman of India's third-largest IT company. The question? The cost of toilet paper used in Wipro’s offices. This peculiar inquiry was puzzling, considering Premji’s immense responsibilities.
This was typical of Premji, known for his meticulous nature and frugality. Remarkably, in 2019, he donated 67% of his Wipro shares in one fell swoop. Today, the value of those shares stands at a staggering ₹1.45 lakh crore. His philanthropy doesn't stop there; he regularly donates a significant portion of his earnings, He was once the richest man in India.
As Azim Premji celebrates his 79th birthday, let’s delve into some intriguing stories from his life.
Going back in time
Back in the 1940s, Premji’s father, Mohammed Hashim Premji, was dubbed the "Rice King of Burma." A chance deal with a small entrepreneur in Jalgaon, Maharashtra, led to the founding of Western India Vegetable Products Limited (WVPL). The company initially produced vegetable oil and laundry soap.
Born on July 24, 1945, in Mumbai, Azim Premji was studying engineering at Stanford University when his father passed away in 1966. At just 21, Premji returned to India to take over the family business. Finding the company name cumbersome, he shortened it to Wipro, blending elements from "Western India Products."
Under his leadership, Wipro diversified into IT, hardware, toiletries, and more. Today, it’s India’s third-largest IT firm with a market cap of ₹2.65 lakh crore.
Giving Freely, Living Simply
Despite being the 17th richest person in India, Premji is second to none in donations. In 2023, he and his family donated ₹1,774 crore, a 267% increase from the previous year. His foundation supports quality education, teacher training, digital classrooms, and scholarships for underprivileged children.
In 2019, Premji pledged 67% of Wipro’s shares to his foundation, then worth ₹50,000 crore, now valued at ₹1.45 lakh crore.
In 2024, Azim Premji ranked 165 on Forbes' list of the wealthiest people in the world, with a net worth of ₹10043 crore.
A Lesson in Humility
Premji’s simplicity is legendary. Raman Roy, who sold his BPO company to Wipro, recalls an incident where a guard didn’t let Premji in because he arrived in a modest Maruti Esteem. The guard couldn’t believe a millionaire would drive such a car.
Premji’s humility extends to his interactions. Nitin Mehta, a former Wipro employee, recounts a trip where Premji insisted on sharing a Maruti van with his family and a colleague, emphasising that they were no different from anyone else.
Azim Premji’s life is a testament to how simplicity and generosity can coexist with immense success and wealth.
