Premji gives half of his stake in Wipro to charity

The latest <g data-gr-id="35">philanthrophic</g> initiative by Premji would pump in an additional Rs 530 crore by way of dividends into the Azim Premji Trust’s corpus this year. 69-year old Premji is the first Indian to sign the Giving Pledge, sponsored by billionaires Warren Buffett and Microsoft co-founder Bill Gates to invite the world’s wealthiest to donate <g data-gr-id="43">majority</g> of their wealth to charity.

“Over the past fifteen years, I have tried to put this belief into action through my personal philanthropic work...,” Premji said in a letter to shareholders published in the company’s annual report for the year ended March 2015.

Premji said, “Over these years I have irrevocably transferred a significant part of the shareholding in Wipro, amounting to 39 <g data-gr-id="32">per cent</g> of the shares of Wipro, to a Trust (of which ownership in 21.14 <g data-gr-id="33">per cent</g> was transferred and for the balance the Trust is entitled to beneficial interest of dividends and 

sale proceeds).”