Wipro chairman Azim Premji will donate Rs 8,846 crore to improve school education in India through his charitable institution Azim Premji Trust. This is the highest endowment by any person or corporation in India.
Premji, India’s third richest man with a net worth of $18 billion, will transfer 213 million equity shares of Wipro Ltd, held by a few entities controlled by him, to the Azim Premji Trust. It will fund educational activities of the Azim Premji Foundation (APF) which works mainly with schools in rural India including the Bangalore-based Azim Premji University.
The foundation will also create district-level institutions with 50-70 people in each and these state and district resource centres will support improvement in education.