Early Life
Azim Hashim Premji was born on July 24, 1945, in Bombay, India, into a Gujarati Ismaili Khoja Muslim family. His father was a successful businessman known as the “Rice King of Burma.” Premji began his education in Mumbai and later pursued electrical engineering at Stanford University. However, he had to cut short his studies after his father's unexpected death in 1966.
Rise to Success
Returning to India at 21, Premji took charge of the family business, Western India Vegetable Products Limited, a manufacturer of cooking oils. Over the years, he steered the company through diversification and growth. In 1977, he renamed the company Wipro. In the 1980s, recognizing the potential in the burgeoning IT sector, Premji shifted Wipro's focus, capitalizing on the opportunities presented by IBM's exit from India. He transformed Wipro into a significant player in the IT industry, eventually becoming a global leader in software development and IT services. This strategic pivot was a pivotal moment in his career.
Key Business Strategies
Premji's business strategies included building a strong reputation for hiring top talent and providing them with excellent training. He also took advantage of India's large pool of skilled software developers. Wipro concentrated on developing custom software for export, primarily to the United States. Furthermore, the company expanded its offerings by diversifying into software services, establishing a name in the IT sector.
Philanthropy
Azim Premji is renowned for his significant philanthropic efforts. He founded the Azim Premji Foundation in 2001, which focuses on improving the quality of education in India, particularly in disadvantaged regions. He has pledged to donate a large portion of his wealth to charitable causes. Premji signed the Giving Pledge in 2013, committing to donate a substantial part of his wealth to philanthropy. Through the Azim Premji Foundation, he has contributed over $21 billion to education and social causes, making him one of the largest philanthropists in the world.
