Discover how Azim Premji transformed a modest vegetable oil firm into Wipro, a global IT giant, while donating $21 billion to transform India's education system.
Rashmeet Kaur Chawla
The man who proved that true success isn't about what you keep, but what you give away.
In an era of corporate scandals and questionable business practices, how did Azim Premji build Wipro into a global IT powerhouse while maintaining a reputation for unwavering integrity? What makes a billionaire fly economy class and scrutinize company expenses down to the last rupee?
Azim Hashim Premji transformed a modest cooking oil company into Wipro, a global IT services powerhouse, while simultaneously becoming one of the world's most generous philanthropists. This comprehensive analysis examines his unprecedented business transformation, leadership philosophy, and commitment to social impact through education reform.
Born July 24, 1945, in Bombay to entrepreneur Mohamed Hashem Premji, founder of Western Indian Vegetable Products Limited, Azim grew up immersed in values of education, hard work, and ethical business practices. His journey shifted dramatically in 1966 when, at age 21 and studying electrical engineering at Stanford University, his father's sudden death forced him home to lead a company generating under $2 million annually.
Critics doubted whether someone so young, with an incomplete degree, could succeed. Premji's response would rewrite Indian corporate history.
Premji initially consolidated the hydrogenated cooking fats business, diversifying into soaps, bakery fats, toiletries, and lighting products. The transformative moment arrived in the late 1970s when regulatory restrictions forced IBM's exit from India.
Recognizing the vacuum in India's nascent computer industry, Premji made a decision that seemed almost fantastical: pivoting from vegetable oils to information technology. In 1980, Western India Palm Refined Oils Limited—now Wipro—began manufacturing minicomputers under technology licenses.
The 1980s saw Wipro establish itself in IT hardware manufacturing. But Premji's vision extended beyond domestic markets. He identified India's true competitive advantage: software services leveraging the country's vast engineering talent pool.
The 1990s economic liberalization enabled Wipro's emergence as a global IT services powerhouse. Premji aggressively pursued international clients across the United States and Europe, pioneering offshore software development in application development, systems integration, and business process outsourcing.
Riding globalization and the Y2K boom, Wipro grew exponentially through the late 1990s and early 2000s. As the company went public and its stock soared, Premji's personal wealth exceeded $25 billion, placing him among the world's wealthiest individuals.
By 1998, Wipro was India's second-largest software exporter marking its successful transition from hardware to high-margin software services. The company strategically shifted focus to offshore software development in 1990, positioning itself perfectly for the coming IT boom.
Key Milestone - NYSE Listing: In October 2000, Wipro was listed on the New York Stock Exchange a testament to its growing global stature and a pivotal moment in accessing international capital markets.
During the dot-com boom of the early 2000s, Wipro became the largest company in India by market capitalization, reaching a value three times that of Infosys its nearest competitor. This period represented the peak of Wipro's market dominance.
Wipro, like many IT services companies, faces pressure from changing technology landscapes, automation, and shifting client demands. Company growth has slowed compared to some competitors, raising questions about long-term strategic direction.
Some critics question whether education-focused philanthropic work adequately addresses the full spectrum of India's social challenges. Others note that despite decades of work, India's education system still faces enormous challenges, suggesting even massive philanthropic investments may be insufficient without deeper systemic reforms.
These criticisms require context. Transforming a country's education system is a multi-generational challenge; Premji's foundation emphasizes long-term commitment rather than quick fixes. While Wipro faces competitive challenges, it remains a significant global IT services player, employing hundreds of thousands and serving major corporations worldwide.
Premji distinguished himself through a foundation of strong ethical values, meritocracy, and innovation. Unlike many insular, nepotistic family-run Indian businesses, Wipro embraced professional management, recruited top talent regardless of background, and maintained exemplary corporate governance standards.
Despite immense wealth, Premji became known for flying economy class, staying in modest hotels, and scrutinizing expenses to the smallest detail. This wasn't penny-pinching but reflected his belief that resources require efficient deployment and leaders must model expected behaviour.
His leadership combined strategic vision with operational excellence. Deeply involved in business operations, Premji asked penetrating questions and demanded accountability at all levels while empowering managers and building strong second-line leadership capable of executing his vision amid rapidly changing market conditions.
Wipro became renowned for robust training programs, continuous learning emphasis, and internal leadership development—all reflecting Premji's belief in investing in people and maintaining the highest ethical standards.
While building a global IT giant would constitute sufficient legacy for most, Premji's greatest contribution may lie in philanthropy. His journey began earnestly in 2001 with the Azim Premji Foundation, dedicated to improving quality and equity in India's education system.
Starting in rural Karnataka districts, the foundation expanded across multiple states, focusing on elementary education by working with government schools to improve learning outcomes for underprivileged children through district institutes collaborating directly with teachers, administrators, and education officials.
Rather than building parallel systems or private schools, the foundation works within the government education system to strengthen it from inside through research, educational materials development, teacher training, and policy advocacy—aiming for systemic, sustainable change in public education.
In 2010, Premji signed the Giving Pledge alongside Bill Gates and Warren Buffett, promising to give away at least half his wealth to charitable causes. However, he exceeded this commitment dramatically. Over subsequent years, Premji transferred billions in shares to his foundation. In 2019, he made his most significant gesture: transferring approximately $7.5 billion in shares, bringing total philanthropic contributions to around $21 billion—representing the majority of his wealth. This act placed him among history's most generous individuals and established a new benchmark for Indian giving.
Established in 2010 in Bangalore, Azim Premji University focuses on education and development, offering programs preparing professionals for work in education, social development, and public policy. It embodies Premji's belief that India's development challenges require well-trained, committed professionals capable of working effectively in complex social contexts.
Despite public stature, Premji remains relatively private. Married to Yasmeen Premji, with two sons—Rishad and Tariq—he has ensured continuity through Rishad Premji's role as Wipro Limited's Executive Chairman while maintaining professional management structures.
Deeply spiritual, Premji draws inspiration from various philosophical and religious traditions, including Islam and Gandhian principles of simple living and service. His lifestyle reflects these values through relative simplicity, avoiding ostentatious wealth displays common among many billionaires. Reading widely and thinking deeply about social issues has been central to Premji's approach.
He frequently speaks about education's importance in creating just, equitable society, wealth creators' responsibility toward social development, and the need for ethical, sustainable business conduct.
As Azim Premji enters his later years, his impact on India and the world becomes increasingly clear. He demonstrated that Indian companies can compete globally, that ethical business can be profitable, and that great wealth carries great responsibility.
His philanthropic model — patient, systemic, focused on building capacity and institutions rather than merely distributing funds — offers important lessons for other philanthropists and the broader development sector. The Azim Premji Foundation and University represent institutional legacies that will continue his work for generations.
Premji's contributions have earned numerous honours, including India's Padma Vibhushan (2005) and Padma Bhushan (2005), honorary doctorates from prestigious universities, and recognition on various lists of the world's most influential people.
In 2013, Time magazine named him among the 100 most influential people globally. He received France's Legion of Honour and numerous international awards recognizing his business leadership and philanthropic work.
In a country where wealth has often been closely guarded within families and dynasties, he demonstrated an alternative model: business success creating not just private wealth but public good, where meaningful legacy derives from societal contribution rather than dynastic inheritance.
For young Indians, particularly those from modest backgrounds, Premji's story offers profound inspiration. He proved that vision, hard work, and integrity can build something enduring and meaningful. His life demonstrates that success is measured not just by accumulation but by contribution, and that the greatest wealth is that which is shared.
In Indian business history, Azim Premji's name will always occupy a place of honour—not just as a successful entrepreneur who built a global company, but as a visionary who understood that true success means lifting others as you rise, and that the ultimate measure of a life is what you leave behind for future generations.
https://en.wikipedia.org/wiki/Azim_Premji
https://azimpremjifoundation.org/
https://en.wikipedia.org/wiki/Wipro
https://en.wikipedia.org/wiki/Business_Week
https://www.bioglance.in/azim-premji-biography/
https://www.weforum.org/people/azim-h-premji/
https://aliceblueonline.com/azim-premji-from-family-business-to-global-it-leader/
https://azimpremjifoundation.org/who-we-are/where-we-work/karnataka/
https://azimpremjiuniversity.edu.in/our-story
https://en.wikipedia.org/wiki/Azim_Premji
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