Azim Premji's life mantra: Wealth is a trusteeship, shouldn't be used as ownership
The 73-yr-old announced that he is giving 34% of his shares in Wipro to charity.
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In 2017, Wipro chairman Azim Premji received the Carnegie Medal of Philanthropy during a ceremony held at the New York Public Library. A couple of years ago, Premji became the first Indian to sign the Giving Pledge, sponsored by Warren Buffett and Bill Gates, an invitation to the world's wealthiest to donate a majority of their wealth to charity.
As he accepted the honour in NYC, Premji said, "When one is showered [with] wealth beyond what one deserves, I think the question really arises, what does one really do with this wealth? I was guided by the teachings of Mahatma Gandhi, which said that wealth is a trusteeship and it should not be used as ownership."
He added that his family - wife Yasmeen and sons, Tariq and Rishad - have been pillars of support in his philanthropic journey. At that time, Premji had committed 50 per cent of his stake in Wipro for philanthropic purposes, with a special focus on education.