Monday, May 4, 2015Monday, May 4, 2015

India software tycoon donates $2.8b to education charity

Published on Feb 24, 2013 12:59 AM
Mr Azim Premji, chairman of Wipro Ltd, speaks as he presents the quarterly results at the Wipro campus in the southern Indian city of Bangalore on Jan 18, 2013. -- PHOTO: REUTERS

NEW DELHI (AFP) - Indian software tycoon Azim Premji said on Saturday that he has given US$2.3 billion (S$2.8 billion) to an education charity he controls, reportedly the biggest charitable donation in the country's recent history.

It is his second major recent donation after giving almost US$2 billion to the charity in 2010, and came shortly after he joined the Giving Pledge club set up by Microsoft co-founder Bill Gates and billionaire investor Warren Buffet.

In Saturday's donation, the chairman of software firm Wipro transferred shares worth US$2.3 billion from the company to a trust which controls the education charity Azim Premji Foundation, a company statement said.

The billionaire, who inherited a cooking oil company and transformed it into India's third-biggest outsourcing services firm, said the trust will use the funds to scale up the foundation's activities "significantly".

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!