India’s second-richest man, Azim Premji, on Wednesday gave away 34 per cent of his shares in Wipro Ltd to charitable causes, cementing his status as the most philanthropic Indian. He has earmarked economic benefits of shares worth Rs 52,750 crore, for his foundation involved in philanthropy, according to a statement. With this, the total value of the endowment corpus, which supports Azim Premji Foundation’s philanthropic activities, contributed by Premji has swelled to a staggering Rs 1.45 lakh crore, which includes 67 per cent of economic ownership of Wipro Ltd, it said.
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“He has done this (contribution) by additionally earmarking all economic benefits for philanthropic purposes, in approximately 34 per cent of the shares in Wipro Limited (current market value Rs 52,750 crore), held by certain entities controlled by him,” according to the statement by the Azim Premji Foundation.