The year has proved challenging for India’s’ Billionaires’ as Forbes’ list of business tycoons in 2019 has seen an 8 percent drop in their total wealth. Wipro chairman Azim Premji dropped out of this year’s Forbes Top-10 Rich List. Last year he was in second place. He now ranks 17th in this list after donating a part of his wealth. His wealth declined from Rs 1.53 lakh crore in the previous year to Rs 51,104 crore.
He is a well-known business tycoon of India and has also consistently held the position of number one businessman in the country for many years. He also runs the Azim Premji Foundation, which does philanthropic work. In a statement issued by his foundation this year, it was said that the Wipro chairman decided to donate 34 percent shares of his company Wipro Limited for social work. These shares were valued at around Rs 52,750 crore.
People have also given him the title of Corporate Robin-hood. This is not the first time that Azim Premji has announced a large donation. The needy are assisted from time to time by their foundation. He is known for the work of spreading education in backward areas of the country. This foundation also works with several state governments and is active in several states.
There are also many interesting things about Azim Premji. He is very gracious and often travels in an economy class of flight. Not only he prefers to stay at the company’s simple guest house instead of luxury hotels. Premji agreed to give at least half of their assets in 2013 by signing “The Giving Pledge.” Premji started his foundation with a donation of $ 2.2 billion, which focuses on education in the country.
The wealth of the rich has decreased this year compared to last year due to India’s sluggish economy. According to Forbes, the wealth of the rich has fallen by 8% to 32 lakh crore rupees ($ 452 billion). Not only this, half of the 100 richest Indians in the country have fallen in net worth. The wealth of more than 14 rich has decreased by more than 1 billion dollars. 9 people have been left out of last year’s Top-100 list.