An Indian business tycoon, Azim Premji’s net worth is a staggering $4.5 billion, which is quite impressive.

According to sources, he was India’s third-richest person, with a net worth of $31.3 billion.

Azim Premji, born in Mumbai, British India, on July 24, 1945, is not just a business tycoon but also a philanthropist and the chairman of Wipro Limited, a worldwide IT consulting and system integration services company.

Moreover, Premji was one of the wealthiest Indians and one of the world’s wealthiest persons at various points in his life.

Before he began donating large sums of money to charity, his net worth peaked at roughly $23 billion.

Moreover, Asiaweek named him one of the world’s 20 most powerful men. In addition, TIME Magazine also named him one of the 100 most influential people twice (2004 and 2011, respectively).

In addition, Wesleyan University in Middletown, Connecticut, awarded an honorary degree to him in 2009.

Likewise, Premji graduated from Stanford University with a bachelor’s degree in electrical engineering. He was in charge of steering Wipro through four decades of diversification and expansion to become one of the software industry’s worldwide leaders.

Also, he has since received honors from the Indian government and the Economic Times Lifetime Achievement Award.

Premji has two children, Rishad and Tariq, with his wife, Yasmeen. Rishad is the Chief Strategy Officer of Wipro’s IT Business.

So, let’s get to know Azim Premji a little better, starting with some basic facts about him.

Quick Facts

Azim Premji’s Net Worth and Income

Azim Premji’s Net Worth

An Indian business tycoon, Azim Premji’s net worth is a staggering $4.5 billion, which is quite impressive.

Also, Wipro, an Indian information technology, outsourcing, and consulting firm, is owned by Azim Premji, who controls 56 percent.

Likewise, Premji holds an extra 18 percent of the Azim Premji Foundation’s irrevocable charity trusts. Moreover, he owns 3% of JM Financial, and his investment firm, PremjiInvest, has a $1 billion portfolio.

Azim Premji’s Income

Premji’s annual income is estimated to be 90000 Crore+ that mostly comes from his business.

In addition, it has been noted that Mr. Premji’s net worth has increased by 30% in recent years. Mr. Azim Premji also controls 73 percent of Wipro and a private equity fund called “Premji Invest,” which controls his personal portfolio worth $2 billion.

Azim Premji: House and Cars

House

Mr. Premji lives in a magnificent property in Bangalore, India, that he purchased in 2005. This real estate property is believed to be worth 350 crore Indian rupees. He also has several real estate holdings across the country.

The specialty of this property is the traditional architecture of brick and stone houses with lofty ceilings.

In detail, the house is built in a farmhouse style, with large rooms, verandahs, high ceilings, and pitched roofs. Moreover, it’s asymmetrical design with a brick and stone interplay.

In addition, the home has two faces: an east elevation with brick cladding and an arid landscape outside, and a west elevation with stone cladding and lush green vegetation.

Because the owner, Azim, is environmentally conscientious, the property incorporates several recovered and repaired historical pieces.

Cars

Premji’s impressive net worth allows him to have a luxurious car for his day-to-day life.

However, Wipro’s chairman is a regular guy who prefers the simple things in life and intends to contribute the majority of his wealth to charity.

As far we know, Mr. Premji’s first car was a Ford Escort, which is worth $2,400 to $4,070. He drove an Escort for nine years before switching to a Toyota sedan.

For nearly a decade, Mr. Premji’s daily driver automobile was the Toyota Corolla, which is the world’s bestselling car of all time. The price for it ranges from $23,615-$25,925.

After some years, senior executives and well-wishers persuaded Mr. Premji that it was time for an upgrade because his Toyota was becoming old and acting up.

So, in true Mr. Premji fashion, he purchased an old Mercedes E-Class from one of his own workers who wanted to sell his old Mercedes. Its price ranges from $45,800 to $90,000.

Also, when you complain that economy class seats are too small for you, keep in mind that one of India’s wealthiest men, Azim Premji, chooses to fly in the same so-called “cattle class.”

Mr. Premji is well-known for taking public transportation. He’s taken buses and is known to ride in a three-wheeled auto rickshaw occasionally.

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Azim Premji: Lifestyle and Vacation

Lifestyle

Even though Azim Premji’s net worth is estimated to be on billions, he is known for his thrifty lifestyle, frequently flying economy, staying in cheap hotels, and avoiding the high life.

Azim Premji likes chocolates and will eat a couple even if it’s at midnight in the cafeteria of a company Wipro is interested in acquiring.

Even though it’s probable that he won’t pay for them because he rarely carries cash, since he isn’t picky about the chocolate brand, it’s unlikely to be too expensive.

Despite being a multi-billionaire, his tastes are straightforward. For example, he and his wife have never shown any interest in gold or other jewelry.

Moreover, he would fly economy class and stay at poor motels until a few years ago, often insisting that if Rishad accompanied him, they would share a room.

Specifically, it’s a level of frugality that included taking the train in New York even on a high-speed trip and eschewing all of the trappings of the wealthy in his personal life.

Unlike many other Indian billionaires, Premji has no significant holdings outside of India, not even an apartment. This is even more shocking given that Wipro receives roughly 93% of its revenue from outside India.

Similarly, these are also the types of things for which he has been dubbed a miser—a man who, rather than giving his clothing to the hotel laundry. Also, he would wash them himself using soap sachets acquired from coworkers when traveling overseas.

Vacation

Despite his popularity, he has very little personal information flashed out on the internet.

However, he does go to various locations throughout the county for his work and spends his free time there.

Investment and Book Publications

Investment

On Jun 30, 2020, Tube Investments of India (TII), a subsidiary of the INR 38,000 crore Murugappa Group, announced that it had acquired Rs 350 crore from several investors Azim Premji Trust as part of the company’s preferential offer.

According to a statement released, TII received an aggregate value of roughly INR 350 crore from Subscribers for subscription to the Equity Shares, based on which 4,783,380 equity shares were allotted.

Moreover, Azim Premji Trust will receive 2,733,360 equity shares, each of which will be fully paid at INR 731.70 and include a premium of INR 730.70.

Similarly, the entire investment is expected to be in the range of INR 200 crore. SBI Focussed Equity Fund will hold 2.34 percent, up from 1.60 percent, and SBI Magnum Midcap Fund will hold 0.28 percent.

Furthermore, Azim Premji Trust will hold 1.42 percent.

Book Publications

On the other hand, Azim Premji has yet to write a book.

However, a biography of him, “Azim Premji: The Man Beyond the Billions,” is written by two authors, Sundeep Khanna and Varun Sood.

Specifically, the first biography of Premji reveals how he is a philanthropist at heart and a businessman by choice – a guy who wanted to give away his billions.

However, he recognized early on that he would have to earn them first. Moreover, it pulls back the layers of Premji’s life while recording his career and charitable endeavors in light of his many strengths and flaws.

Charity

Foundation

Firstly, he established the Azim Premji Foundation, a non-profit organization, in 2001. Firstly, he promised to donate $2 billion to improve India’s school education in December 2010.

Then, Premji accomplished this by transferring 213 million equity shares of Wipro Ltd to the Azim Premji Trust, which a few corporations owned by him held. In addition, this is India’s greatest donation of its sort.

Similarly, Premji pledged an extra 34 percent of his Wipro stock to the foundation in March 2019.

As a result, a donation valued at over US$7.5 billion will increase his entire gift to the foundation to US$21 billion.

Moreover, the Azim Premji Foundation teamed up with the National Centre for Biological Sciences and the Institute for Stem Cell Science and Regenerative Medicine in May 2020.

To improve testing infrastructure in response to the coronavirus epidemic.

The Commitment to Giving

Being wealthy, according to Premji, “did not delight” him.

He was the first Indian to sign up for the Giving Pledge, a movement spearheaded by Warren Buffett and Bill Gates to persuade the world’s wealthiest people to pledge to give away the majority of their fortune to charitable organizations.

Also, after Richard Branson and David Sainsbury, he is the third non-American to join the club.

In April 2013, he announced that he had already donated more than 25% of his personal riches to charity.

Likewise, he gave up another 18 percent of his Wipro shareholding in July 2015, bringing his total donation to 39 percent.

Similarly, his lifetime philanthropy totals US$21 billion, making him the first Indian to sign the Giving Pledge.

Furthermore, Azim Premji was named India’s best philanthropist in April 2019.

Hurun India Philanthropy List by EdelGive

Hurun India and EdelGive announced a list of “India’s Most Generous” on November 10, 2020, with Azim Premji at the top.

In addition, in the financial year 2019-20, he donated INR 7,904 crore, up from INR 453 crore in the previous year.

Also, his gifts are primarily for educational purposes.

Career

After his father died in 1966, Azim Premji moved to India and assumed control of Wipro.

Also, Azim Premji then expanded the Western Indian Vegetable Goods company.

In addition, it includes baking fats, ethnic ingredient based toiletries, hair care soaps, baby toiletries, lighting products, and hydraulic cylinders.

Following IBM’s ejection from India in the 1980s, he grasped the importance of the IT business and renamed his company Wipro.

Eventually, he got into the IT field and started making minicomputers with the help of an American company called Sentinel Computer Corporation.

Azim Premji’s net worth is estimated to be $4.5 billion. 

3 Facts About Azim Premji

• Azim Premji was awarded the Padma Bhushan in 2005 for his outstanding contribution to Indian trade and business.
• Also, Azim Premji received the Padma Vibhushan, the second-highest civilian honor, in 2011.
• Even after knowing everything about a company, Azim Premji is believed to avoid intervening in the day-to-day operations of independent business owners.

FAQS

When did Premji graduate?

He only received his Bachelor of Science in Electrical Engineering from Stanford University after 30 years.

When did he start his business?

Azim Premji dropped out of Stanford University at the age of 21 to join his family’s business after his father died.

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