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IN Lifestyle ON 10 Jul, 2015
Azim Premji donates more than half of his stake in Wipro to charity. The big news has a lot more to tell about the great men and his words.
Humanity is still alive, and Azim Premji is the best example of this. Azim Premji being the emperor of IT industry owned 73.39 % stake in India's third-largest exporter of software services company "Wipro". The IT hub is expanding at a high rate, but the philanthropy rate of this man is at a higher peak than anything else. Mr. Azim Premji turning to 70 years (this month) is the first business tycoon of India to sign the Giving Pledge. This initiative is being sponsored by billionaires Warren Buffett and Bill Gates to invite the world's wealthiest for contributing towards the world prosperity. And Azim Premji is a man of his words. His actions have always supported the charitable work, and he believes to transform the world into a better place. Wipro's founder has contributed an additional 18% of his stake in Wipro to charity. This results in raising the funds for a total of 39% of his stake (valuing at Rs.53,284 crores) to the trust. Out of these 39% shareholding allowed to the trust, 21.14% is being transferred to the trust and the remaining portion of the stake is being allocated in the form of dividends and sale proceeds. The Trust supports the work of The Azim Premji Foundation and Azim Premji Philanthropic Initiative and the wealth created by Wipro is being contributed to resolving social causes.
Although this is a big news covered by every newspaper, this didn't surprise much to the shareholders of the company and to the people who are close to Premji. Mr. Azim Premji wrote a letter to the shareholders of Wipro. The letter is being published in the Company's Annual Report for the year ending March 2015 stating, "Over the past fifteen years, I have tried to put this belief into action through my personal philanthropic work.." Even if the Government Of India wouldn't have introduced Section 135 (Corporate Social Responsibility) of the Companies Act 2013, this man understands his valuable participation to initiate towards the social benefit. And that's the reason, he was considered the 'Most Generous Indian' of 2014, according to the Hurun India Philanthropy List. What Premji wants to convey the message is simple, but still is a misconception to many of the business class families. Lending a helping hand to the needy can aid to the economic growth of the nation and motive to serve the society must be fulfilled. It isn't the richest or the most famous person in the world that become prominent. And the purpose of our birth isn't flourished unless we contribute to integrate towards the sustainable development and social causes. Without this, neither the economic expansion can take place nor do we can become great. Riches must understand and exercise "Right to ownership" to apportion their valuable shareholding for the charity. This one man's hand has today led to serve the millions of poor people (especially children). Imagine if the number of helping hands get multiplied, then, good days are just a few months ahead. Till yet Premji, Anil Agarwal, Shiv Nadar and Ratan Tata were the most generous givers in India, according to the Hurun India Philanthropy List 2014. The list truly depicts that you don't need to be the richest person in the world, all you need is to be big-hearted. The generosity to shower love and care towards the poor should be alive in everyone's heart.