India Markets closed

Bill Gates lauds Azim Premji for philanthropy, says his contribution will make a tremendous impact

1 / 1

Bill Gates lauds Azim Premji for philanthropy, says his contribution will make a tremendous impact

"I'm inspired by Azim Premji's continued commitment to philanthropy. His latest contribution will make a tremendous impact," Bill Gates tweeted.

Bill Gates has lauded Indian billionaire Azim Premji for his philanthropic activities and charitable contribution to the society.

Considered as a source of inspiration for philanthropists across the world, Gates took to Twitter to acknowledge Wipro chairman Azim Premji's continued commitment to philanthropy.

"I'm inspired by Azim Premji's continued commitment to philanthropy. His latest contribution will make a tremendous impact," Gates tweeted.

India's second-richest man, Premji, 73, has a fortune of more than USD 18 billion, according to the Bloomberg Billionaires Index.

Earlier this month, Premji had increased his commitment to philanthropy, by irrevocably renouncing more of his personal assets and earmarking them to the Endowment, which supports the Azim Premji Foundation's philanthropic activities.

Also Read: Azim Premji commits Rs 1.45 lakh crore, 67 per cent stake in Wipro to philanthropy

He has earmarked 34 per cent of Wipro shares worth Rs 52,750 crore (USD 7.5 billion) held by certain entities controlled by him for philanthropic activities. This is in addition to his earlier donations, which included Wipro's shares, as well as other assets owned by him.

With this, tech tycoon has donated a total of USD 21 billion (Rs 1.45 lakh crore) to the Azim Premji Foundation over several years, including 67 per cent of Wipro's shares, according to the statement by the Azim Premji Foundation.

The initiative to support other not-for-profits by providing multi-year grants was started in 2014 by the Foundation. The grants support efforts of partners that directly or indirectly help create tangible improvements in the lives of deeply disadvantaged, under-served and marginalised sections of our society. In the last five years, these grants have supported over 150 organisations engaged in a range of domains across India.

Edited by Chitranjan Kumar