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Rediff.com  » Business » I have given 25% of my wealth to charity: Premji

I have given 25% of my wealth to charity: Premji

Last updated on: April 19, 2013 17:18 IST

I have given 25% of my wealth to charity: Premji

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Wipro Chairman Azim Premji on Friday said he has already given more than 25 per cent of his personal wealth to charity, but acknowledged it's not easy to use money well in philanthropy.

"I have very clear views on what I intend to give to charity and today more than 25 per cent (of my personal wealth) has already been given to charity," Premji told reporters in response to questions.

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Image: Wipro Chairman Azim Premji.
Photographs: Jagadeesh Nv/Reuters.

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"...very often, it's more difficult to use money well in philanthropy than instituting money into philanthropy. We want to be sure that we continue to use it well and we don't continue to substitute the responsibility of government and that's very critical," he added.

"We supplement and enhance what they (government) are doing and don't substitute what they are doing," said Premji, who is the first Indian to join the 'giving pledge' club, set

up by Microsoft co-founder Bill Gates and billionaire invest Warren Buffet to encourage the world's wealthiest to donate at least half of their fortunes to charity.

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Image: Bill Gates (L) his wife Melinda Gates, Azim Premji (2nd L) and billionaire Warren Buffett (R) attend a news conference.
Photographs: B Mathur/Reuters.

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Premji was asked if he has committed more than 50 per cent of his wealth vis-a-vis 'giving pledge' club, for which he said: "They (the club) have different forms of pledge for different countries."

He hastened to add that whether or not he would pledge 50 per cent of his wealth to charity is a "completely personal question".

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Image: Azim Premji.
Photographs: Reuters.
Tags: Premji

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The IT czar had donated 8.7 per cent from his personal stock-holding in Wipro for philanthropy in 2010. This had formed the endowment for the Azim Premji Foundation, a not-for-profit organisation set up in 2001.

Giving more to philanthropy, Premji in February this year had announced transfer of 295.5 million equity Wipro shares worth Rs 12,300 crore (Rs 123 billion) held by certain entities controlled by him to an irrevocable trust.

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Image: Wipro chief Azim Premji with son Rishad.
Photographs: Rediff Archives.
Tags: Wipro , Premji

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