Wipro Founder azim premjiK’s grandfather built one of the largest rice trading businesses, which after 75 years grew into a diversified, multi-billion dollar enterprise, starting at Rs.2 a week. “But (it was) on a simple principle – he was honest,” Premji said in the coffee table book, The Story of Wipro.
Wipro, one of the largest IT companies in India, recently celebrated its 75th anniversary. Premji launched a coffee table book named The Story of Wipro. The story of Wipro, published by Westland Publications, encapsulates the tremendous journey of Wipro, which has reached multiple businesses over the years. The journey of an IT major from a vegetable oil manufacturing company to a diversified business. Azim Premji said on Twitter, ‘The Story of Wipro’ is also the story of Azim Premji as he was at the top for 53 out of 75 years.
“I probably learned the most from my mother. Because she was a qualified doctor, she devoted her time to building the Children’s Orthopedic Hospital for children with disabilities. She used to run to Delhi to fund it and we were not rich at that time. She will fight the government and fight with rich industrialists to give her donations,” Premji said in an interview.
Talking about his family and parents, Premji said that his family followed a principle of not compromising on values. Talking about his father, Mohammad Hussain Hashem Premji, who took over the trading company at the age of just 21. Premji’s mother Gulbanu Premji also did not face the challenges, who struggled to build a hospital for the children.
Azim Premji’s father Mohammad Husain Hashem Premji started Western India Products Limited on 29 December 1945 in Amalner, Maharashtra for the manufacture of vegetable and refined oils. After the death of his father in 1966, Premji left Stanford University and took over the reins of the company. Like his father, Azim Premji was at the helm of the company at the age of 21.
Premji said, “The concept of standing up for something and being persistent and not compromising on anything was born in my mind long back.”
The success of the IT giant can be gauged from the fact that in 2000, Wipro reached a revenue milestone of $1 billion and got listed on the New York Stock Exchanges. The company’s revenue in fiscal year 2011 was $8.1 billion.
After leading the firm for nearly 53 years, Premji stepped down from his role as Wipro’s executive chairman on July 31, 2019, with his elder son Rishad Premji, then chief strategy officer at Wipro, taking over as executive chairman. took over as Following his resignation, the company appointed Thierry Delaporte, who took over as CEO in July 2020 following the exit of Abidali Neemuchwala in early 2020.
Apart from a simple and simple lifestyle, frugality, Premji is a man of golden heart, he is known for his compassion and benevolence.
According to the EdelGive Hurun India Philanthropy List 2020, Premji has donated Rs 7,904 crore, followed by HCL co-founder Shiv Nadar who has donated Rs 795 crore. Presently, Premji’s network is around $39.2 billion and he has donated a large part of his wealth. The report said that the Azim Premji Endowment Fund holds 13.6 per cent of the promoter holding in Wipro and is entitled to receive the money earned from the promoter shares. Azim Premji Endowment Fund is an entity set up by Premji to carry out his philanthropic activities.
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