IT czar Azim Premji has earmarked economic benefits of about 34 percent of his shares in Wipro, worth Rs 52,750 crore, for his foundation involved in philanthropy. He has increased his commitment to philanthropy, by irrevocably renouncing more of his personal assets and earmarking them to the endowment corpus. Premji has swelled to staggering Rs 1.45 lakh crore, as well as other assets owned by him.
With this, the total value of the endowment corpus, which supports Azim Premji Foundation's philanthropic activities, contributed by Premji has swelled to a staggering Rs 1.45 lakh crore, which includes 67 percent of economic ownership of Wipro Ltd, it said.
Wipro Chairman Premji, who is also the chairman of Azim Premji Foundation, announced on Wednesday that he has increased his commitment to philanthropy, by irrevocably renouncing more of his personal assets and earmarking them to the endowment corpus.
"He has done this (contribution) by additionally earmarking all economic benefits for philanthropic purposes, in approximately 34 percent of the shares in Wipro Limited (current market value Rs 52,750 crore), held by certain entities controlled by him," according to the statement by the Azim Premji Foundation.