Award: Outstanding Philanthropist
Why He Won: For making India’s biggest philanthropic contribution for achieving universal quality education.
His Trigger: Was deeply disturbed by growing inequity between haves and have-nots; was afraid growing disparity would threaten society.
His Mission: Improving quality of education; which would improve social and economic conditions.
His Action Plan: Working with government schools, bringing change at the top, improving quality of teachers, increasing capacity of education officers.
His next move: Set up institutions like Azim Premji University, to
produce education professionals, focus on research, set up 200 rural schools to showcase good education.
So when exactly did Azim Hashim Premji, the third richest Indian and ‘Asia’s most generous man’ feel the first tug of philanthropy? Was it when, as a young man studying at Stanford University, he dreamt of joining an international development agency like the World Bank? Or maybe it was when his mother, a doctor, set up a philanthropic children’s hospital in the 1940s. Or was it in the 1950s and ’60s when he was soaking in the spirit of nation building growing up in Nehru’s India? Or did it come much later, when in the late ’90s he watched his millions grow into billions, thanks to the IT boom, all the while becoming aware of the distance between his wealth and the average Indian’s income?
No one knows the answer, not even Premji.
Dileep Ranjekar, who has worked with Premji for close to four decades and started the Azim Premji Foundation (APF), says Premji first started talking about working in the social sector in 1998-99. Ranjekar, who was then head of Wipro’s HR, and Premji were staying in the Wipro guesthouse at Brunton Road, Bangalore. Premji was shifting Wipro’s HQs from Mumbai to Bangalore.
Both of them would sit late in the evenings talking and it was on one such evening that Premji first broached the idea. He had spent the last 30 years building Wipro, which was successful and stable, and now at 54 he felt that he needed to do something more.
After a lot of deliberation he chose to work in education and told Ranjekar to come up with a plan, but with one clear instruction: Whatever area they picked in education, it must have widespread impact.
The conversation that started in that guesthouse has today resulted in one of the largest programmes backed by individual giving in India and perhaps Asia. Premji has pledged close to $2 billion from his personal wealth to APF, which is working to improve elementary education across government schools in India. APF today has 800 employees. Last year the Azim Premji University started three post graduate courses in education and development to beef up capacity in the education sector.
It may take several more years, if not decades, to truly feel the impact of Premji’s efforts, but the work has left a deep impression on him. “As a person I have become more hopeful and optimistic… When you see teachers, government officials, my own colleagues in the Foundation, working in the toughest circumstances possible… it reaffirms faith in the goodness of man,” he says.
Now at 67, he has only one regret. That he waited too long to embark on this journey. “I wish I had started earlier, maybe in 1990, not in 2000,” he told Forbes India in an email interview.
His role as chairman of Wipro takes up most of his time today, but that is set to change. “He is spending more and more time on this [philanthropy]; it will increase going forward,” says older son Rishad who is also on APF’s board. Premji has talked to people about giving away most of his wealth (estimated at about $12 billion) to philanthropy. Rishad says that everyone in his family understands that the wealth does not belong to them. “He’s always told us, ‘I am comfortable giving you something in life but if you want anything above that, you have to earn it for yourself. The rest is meant to be given away, it is an obligation to give it away’,” says Rishad.
Close friend and associate Narayanan Vaghul, former chairman of ICICI Bank who is on the board of both Wipro and APF, says, “Premji is one of those rare people who sincerely believe that philanthropy is not a hobby. Even 20 years ago he was a hardcore businessman, and he is not particularly religious. But this work has changed him spiritually, it has made him a better person.”
Unlike Wipro where he kept his family out for a very long time (Rishad joined in 2007), every member of his family is involved in APF. Wife Yasmeen and Rishad are board members, while younger son Tariq works in APF’s endowment office. Premji says that having the family’s support is crucial in this work. “Your immediate family must resonate with the ideas, the purpose and philosophy. Else, the impact will be much less than it could be,” he says.
After maintaining a laser like focus on education for most of the last decade, he is now thinking of expanding into other areas like health care and livelihoods. “He is deeply worried about the state of governance in the country today,” says Vaghul, and some of his close associates say that he may choose to work in that field next. In January last year he joined 13 eminent citizens in India, such as former RBI governor Bimal Jalan, HDFC Chairman Deepak Parekh, and Godrej & Boyce Chairman Jamshyd Godrej to write an open letter to national leaders on governance deficit and corruption in the country. On November 2, while announcing Wipro’s quarterly results, he exhorted Bangaloreans to protest against non-clearance of tonnes of garbage lying on the streets.
He understands that a strong philanthropic movement needs partnerships. On June 1, he invited about 40 of India’s leading businessmen and philanthropists to join him, Bill Gates and Ratan Tata to share ideas about philanthropy. Attended by people like Sunil Mittal of Bharti Group and Rajshree Birla of the Aditya Birla family, “discussions revolved around the areas of education, health, water and agriculture”, according to a statement by APF.
“It is perhaps the first time in India that the endowment model is being used to finance a not-for-profit entity,” says KR Lakshminarayana, chief endowment officer. Lakshminarayana’s instructions are to preserve capital and make investments that are safe and extremely liquid. The annual requirements of APF are met through dividend earned on these shares, around Rs 120-140 crore.
Azim Premji: If We Want A Better Society, We Can’t Be Bystanders
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(This story appears in the 07 December, 2012 issue of Forbes India. To visit our Archives, click here.)
I believe all peoples are connected, one God, if we educate the people to make that step forward, we could end wars, and then the stars are there waiting for us...Love is the most powerful force on earth..on Sep 6, 2015
I am very much impressed the work is done by respected Premji sir,who wants to eliminate poverty from the country.I also from core of the heart want to serve the poor people specially poorest of the poor through education and livelihood.The statess like Bihar, Jharkhand, Chatishgarh etc are very poor states and also disparity has widened. I want to serve in these states. At present I am working as a Chief Manager in a nationased bank at Jamshedpur.I have also worked in Rashtriya Mahila Kosh,N Delhi as a Dy. director for two years . The Kosh works exclusively for poor women under the Ministry of Women and child development.G O I. Can I get some chance to work with your foundation (APF) for the help of the poor. I had also sent an idea to our Hon'ble Prime Minister as how to eradicate the poverty from the country upto 2025. I hope that I will get some response at your end. With thanks and regard Nitya nand Jha M No 9471642378on Jul 8, 2015
God has a reason for you letting you live in this generation. I wish you long life and good health... you have touched so many lives within and outside india inshort all over the world in General..i am among the living beneficiary of you generosity. May good grant you more wisdom.on Feb 14, 2015
So wonderful to know that Mr. Premji is that generous to people specially to those less fortunate even on other country outside India. May God Bless You,Good Health and Happiness .on Jan 26, 2015
It is wonderful to know that there are still real gentlemenon Dec 22, 2014
learning of mr premji moved me to tears its really awesome to see someone who really sees the bigger picture when his nose cud just be in the air all day.its mr.premjis morals that makes him rich.on Dec 11, 2014
I is wonderful to know that there are still real gentlemen out there who are prepared to go that extra mile for the less fortunate people in his country and other countries God Bless Karlon Oct 29, 2014
it is nice articleon Aug 24, 2014
Hip, Hip Hooray for Azim for taking a giant leap in the field of Philanthropy. I am sure, it wasn\'t long ago, when he discovered that Money is like Blood, it has to circulate, otherwise, it can coagulate and give you stroke.He has also realized, well ahead of his time,as well as other Billionaires in India, that when you have been bequeath with enormous wealth, it is incumbent upon that person, to share it for the betterment of the Humankind!--Let us hope, Azim\'s endeavours will propel others in his league to come forward to help millions of down trodden in India-on Oct 9, 2013
I am very proud to be in the age to have great person like you around me. You are doing very good job. And i hope your sons will continue this. I hope they will not like ambanis who just like to become rich. You told very nice.. Wealth will give peace if you spread it. Good luck. Have a 1000 yrs life.. So u can see ur imaginations to come true...:)on Sep 7, 2013
Dear Azim, Congrats ,you are doing a great service to humanity.We are all proud of you and your family. May God Bless You,Good Health and Happiness . Kind Regards, Paddy Menon.on Aug 17, 2013
I feel we are all the beneficiaries of our society,hence we all have to contribute our resources to the needy areas and people as our respected Premji family is doing, according to our capacities.May God bless the family of Premji.on Dec 30, 2012
Pls give the great Premji one more award but request him to hire his own buses for transporting Wipro employees in Bangalore. His company takes away hundreds of BMTC - public transport buses- just when school children go to or return from school. Instead of talking of charity, these $12 billion persons should run companies without taking concessions from public.on Dec 6, 2012
It is wonderful to know that a man of your calibre is willing to improve the lives of others and unselfishly share your wealth with others so thaton Apr 22, 2019
How to appreciate you sir how many times i appriciate that i coudent understand really such a great person i have never seen in my life sir i am also coming from poor family but what a goal and how your commite and you are working such a great sir i have read all the stories about yiur life and bussiness in each points tells something useful in life and to understand and follow in our life really great work Azim premji sir and your foundation for best success and i will tell that your company will do more growth in future and rank will be 1 so thanks a lot thank you very much for your work and aim to success peoples ...students ..workers and all you have thought about each and every member whos in trouble in family we are not serving properly and defenately its difficut and your aim is too long so thank you very much sir...have a nice journeyon Nov 7, 2019
Thankyou Sir to have doing great work for the welfare of the society as well as country to remove poverty ..i wish you live long and blessed..hope more and more of us be like you..on Nov 28, 2019
You are really being Humanon Nov 28, 2019
Is Mr. Azim Premji a Parsi Zoroastrian?on Feb 15, 2020
I would like to join hands with you in the effort of fighting illiterate which is the key to almost everything .on Jun 7, 2020