Azim Premji commits $21 Billion to philanthropy by adding Rs 53,000 cr more

Wipro chairman Azim Premji on Wednesday announced an increase in his philanthropic commitment by Rs 52,750 crore ($7.5 billion), taking his overall commitment to his endowment to a humongous Rs 145,000 crore ($21 billion). This makes it one of the biggest foundations in the world. The Bill & Melinda Gates Foundation has investment assets of about $40 billion, and the Ford Foundation about $12 billion, according to the website Pensions & Investments. Premji’s largesse comes at a time when the ultrarich in India are giving less for social causes than they did five years ago, according to estimates by management consultancy firm Bain & Co in its recent India Philanthropy Report 2019.

Courtesy : The Times Of India