WEBVTT 00:00:00.000 --> 00:00:01.960 Welcome back to the Deep Dive, the place where 00:00:01.960 --> 00:00:04.000 we take stacks of source material and turn them 00:00:04.000 --> 00:00:06.540 into actionable, insightful knowledge for you, 00:00:06.599 --> 00:00:11.179 the listener. Today, we are profiling a titan 00:00:11.179 --> 00:00:13.939 whose career trajectory is so wild, if it were 00:00:13.939 --> 00:00:15.740 a fictional screenplay, you'd probably reject 00:00:15.740 --> 00:00:18.379 it as utterly implausible. It really is. It's 00:00:18.379 --> 00:00:21.160 a generational story of inheriting what seems 00:00:21.160 --> 00:00:24.399 like an immutable commodity empire, then executing 00:00:24.399 --> 00:00:27.280 a radical and frankly, highly risky corporate 00:00:27.280 --> 00:00:29.739 transformation. And then in the final act, committing 00:00:29.739 --> 00:00:32.340 that fortune to philanthropic efforts on a scale 00:00:32.340 --> 00:00:34.780 rarely seen anywhere else in the world. Exactly. 00:00:34.920 --> 00:00:37.539 We are diving deep into the life and work of 00:00:37.539 --> 00:00:39.880 Azim Premji, the renowned Indian businessman 00:00:39.880 --> 00:00:42.780 and founder chairman of Wipro. Our mission for 00:00:42.780 --> 00:00:44.840 you today is to explore the strategic genius 00:00:44.840 --> 00:00:48.280 behind really two massive career shifts. First, 00:00:48.439 --> 00:00:50.380 you have the pivot from being the son of the 00:00:50.380 --> 00:00:52.780 rice king of Burma to inheriting a commodity 00:00:52.780 --> 00:00:55.060 business. And then second, the transition of 00:00:55.060 --> 00:00:57.560 that very business from manufacturing of all. 00:01:00.990 --> 00:01:04.969 And perhaps most importantly, we'll devote significant 00:01:04.969 --> 00:01:08.150 time to unpacking the sheer magnitude of his 00:01:08.150 --> 00:01:10.609 philanthropic legacy. Absolutely. He has set 00:01:10.609 --> 00:01:13.469 a new standard for charitable giving outside 00:01:13.469 --> 00:01:16.349 the traditional Western model. I mean, we're 00:01:16.349 --> 00:01:18.549 talking about committing an immense personal 00:01:18.549 --> 00:01:22.030 fortune. mostly in company equity, to fundamentally 00:01:22.030 --> 00:01:24.030 change the infrastructure of public education 00:01:24.030 --> 00:01:27.230 across disadvantaged regions of India. So we're 00:01:27.230 --> 00:01:29.730 really distilling the core insights from his 00:01:29.730 --> 00:01:32.390 life and work. We're providing the crucial context 00:01:32.390 --> 00:01:34.730 that explains why these shifts were so monumental 00:01:34.730 --> 00:01:37.469 and, I guess, how he managed to pull them off. 00:01:37.629 --> 00:01:40.120 That's the mission. And the ultimate deep dive 00:01:40.120 --> 00:01:42.620 aha moment here, I think, is that origin story. 00:01:42.799 --> 00:01:44.920 The company that eventually became Wipro, the 00:01:44.920 --> 00:01:49.000 $11 billion IT superpower, the engine that generated 00:01:49.000 --> 00:01:51.640 this massive fortune he's now distributing. It 00:01:51.640 --> 00:01:54.079 started by making hydrogenated vegetable oil 00:01:54.079 --> 00:01:56.920 and a laundry soap. It's just incredible. That 00:01:56.920 --> 00:01:58.920 is the journey we are here to understand. It 00:01:58.920 --> 00:02:01.620 truly is. And we are talking about a man who 00:02:01.620 --> 00:02:04.540 remains a non -executive member and founder chairman 00:02:04.540 --> 00:02:07.799 of Wipro. and whose current net worth was estimated 00:02:07.799 --> 00:02:12.900 by Forbes at $11 .6 billion as recently as October 00:02:12.900 --> 00:02:15.659 2023. So to understand the man and the mission, 00:02:15.840 --> 00:02:17.819 we have to start at the beginning. We have to 00:02:17.819 --> 00:02:20.080 understand the ground he came from. That's the 00:02:20.080 --> 00:02:22.120 only way. Okay, let's unpack this incredible 00:02:22.120 --> 00:02:24.520 journey. Let's start with the origins of the 00:02:24.520 --> 00:02:28.060 man himself and the deeply rooted history of 00:02:28.060 --> 00:02:30.719 that family business. Okay, so we begin in British 00:02:30.719 --> 00:02:34.379 India. Azim Hashim Premji was born on the 24th 00:02:34.379 --> 00:02:37.539 of July 1945 in Bombay, which of course we now 00:02:37.539 --> 00:02:40.460 know is Mumbai, Maharashtra. And his family background. 00:02:40.719 --> 00:02:43.120 His family belonged to the Gujarati Ismaili Koja 00:02:43.120 --> 00:02:45.300 Muslim community. And that lineage is deeply 00:02:45.300 --> 00:02:47.759 associated with commerce and trade, especially 00:02:47.759 --> 00:02:50.379 along the Indian Ocean routes. This commercial 00:02:50.379 --> 00:02:52.960 grounding is really vital context for everything 00:02:52.960 --> 00:02:54.990 that comes later. And the roots of the family 00:02:54.990 --> 00:02:57.349 business were monumental. I mean, we're talking 00:02:57.349 --> 00:02:59.689 about a time when commodity trading really determined 00:02:59.689 --> 00:03:02.129 geopolitical influence, right? This operation 00:03:02.129 --> 00:03:05.490 was so vast, it actually earned his father, Muhammad 00:03:05.490 --> 00:03:08.789 Hashim Premji, a famous moniker. That's right. 00:03:08.849 --> 00:03:11.710 His father was a deeply influential figure known 00:03:11.710 --> 00:03:14.629 historically across Asia as the Rice King of 00:03:14.629 --> 00:03:17.469 Burma. The Rice King of Burma. That's not a subtle 00:03:17.469 --> 00:03:20.250 title. No. And this title isn't just an exaggeration. 00:03:20.539 --> 00:03:23.060 It really speaks to the comprehensive scope of 00:03:23.060 --> 00:03:25.599 the family's commodity trading operations. We're 00:03:25.599 --> 00:03:29.180 talking rice, cotton, oilseeds, spanning from 00:03:29.180 --> 00:03:31.860 the newly established Bombay port across to Burma, 00:03:31.879 --> 00:03:35.020 which is now Myanmar, and well beyond. So not 00:03:35.020 --> 00:03:38.159 a modest operation. Far from it. This was a complex 00:03:38.159 --> 00:03:40.879 logistical empire built on arbitrage and large 00:03:40.879 --> 00:03:43.539 -scale agricultural trade. It established the 00:03:43.539 --> 00:03:45.419 Premji name as one that was pretty much synonymous 00:03:45.419 --> 00:03:47.889 with industrial power in India at the time. That 00:03:47.889 --> 00:03:50.129 scale is so important because it shows the kind 00:03:50.129 --> 00:03:52.550 of legacy and structure young Azeem was born 00:03:52.550 --> 00:03:55.250 into. But there's an even more compelling early 00:03:55.250 --> 00:03:57.590 detail that speaks volumes about the family's 00:03:57.590 --> 00:04:00.590 dedication to India's future, made right in the 00:04:00.590 --> 00:04:03.969 middle of the chaos of partition in 1947. This 00:04:03.969 --> 00:04:07.289 is a crucial historical marker. It's a real fork 00:04:07.289 --> 00:04:10.050 in the road moment. Muhammad Ali Jinnah, the 00:04:10.050 --> 00:04:12.629 founder of Pakistan, personally invited Premji's 00:04:12.629 --> 00:04:15.289 father to move to the newly formed nation. Wow. 00:04:15.770 --> 00:04:18.569 Yeah, the idea was to secure his industrial might 00:04:18.569 --> 00:04:22.750 for Pakistan's economic future. But in a pivotal 00:04:22.750 --> 00:04:25.310 political choice, his father turned down the 00:04:25.310 --> 00:04:28.170 request. He very firmly chose to remain in India. 00:04:28.389 --> 00:04:30.430 Turning down an invitation from the founding 00:04:30.430 --> 00:04:32.990 father of a new nation at a time of such profound 00:04:32.990 --> 00:04:35.250 geopolitical upheaval, I mean, that signifies 00:04:35.250 --> 00:04:37.750 an unshakable allegiance. Exactly. It shows a 00:04:37.750 --> 00:04:39.970 deep, long -term faith in the Indian state and 00:04:39.970 --> 00:04:42.480 its trajectory. This commitment to the nation, 00:04:42.660 --> 00:04:44.740 established by the father, provides essential 00:04:44.740 --> 00:04:47.379 context for the son's later decision to focus 00:04:47.379 --> 00:04:50.019 his massive philanthropic efforts entirely on 00:04:50.019 --> 00:04:52.319 improving Indian public infrastructure. Specifically 00:04:52.319 --> 00:04:55.939 education. Specifically education. It's a generational 00:04:55.939 --> 00:04:58.439 dedication to building the future of the country 00:04:58.439 --> 00:05:00.759 they chose to belong to. A choice that really 00:05:00.759 --> 00:05:03.259 anchors the family firmly in India's future. 00:05:03.480 --> 00:05:06.230 Now... Let's look at the Sun's initial trajectory, 00:05:06.490 --> 00:05:09.910 because young Azeem Premji started down a very 00:05:09.910 --> 00:05:13.209 different path from rice, cotton, and commodity 00:05:13.209 --> 00:05:16.430 trading. He really did. Unlike the family tradition 00:05:16.430 --> 00:05:19.290 of commodity trade, Premji went to Stanford University 00:05:19.290 --> 00:05:22.410 in the United States. He was pursuing a Bachelor 00:05:22.410 --> 00:05:25.319 of Science in Electrical Engineering. A BSE. 00:05:25.540 --> 00:05:27.800 An engineering degree. And this initial specialized 00:05:27.800 --> 00:05:29.860 technical grounding is critically important. 00:05:30.100 --> 00:05:32.220 He wasn't trained to be a commodity broker or 00:05:32.220 --> 00:05:34.899 a traditional industrial manager. His training 00:05:34.899 --> 00:05:37.259 was in complex systems and technical sciences. 00:05:37.519 --> 00:05:39.560 Which you have to think gave him a completely 00:05:39.560 --> 00:05:42.379 different mindset. It absolutely did. This foundational 00:05:42.379 --> 00:05:44.920 engineering mindset allowed him to see opportunities 00:05:44.920 --> 00:05:47.720 and execute strategic pivots that would have 00:05:47.720 --> 00:05:50.300 been, well, invisible or maybe even possible 00:05:50.300 --> 00:05:52.680 to a traditional business inheritor. But that 00:05:52.680 --> 00:05:55.279 path, the formal engineering education in California, 00:05:55.540 --> 00:05:58.019 it was suddenly and dramatically cut short by 00:05:58.019 --> 00:06:00.860 tragedy. Precisely. Which brings us to the company 00:06:00.860 --> 00:06:03.540 he was suddenly called to lead. The company, 00:06:03.720 --> 00:06:06.379 which would later become Wipro, was founded in 00:06:06.379 --> 00:06:09.459 1945 by his father, and it was originally named 00:06:09.459 --> 00:06:12.500 Western Indian Vegetable Products Ltd., based 00:06:12.500 --> 00:06:15.259 in Amuner, Maharashtra. The name itself gives 00:06:15.259 --> 00:06:18.000 us the product line, a manufacturer of industrial 00:06:18.000 --> 00:06:22.220 goods. specifically fats and oils. How did this 00:06:22.220 --> 00:06:24.720 operation contrast with the global software giant 00:06:24.720 --> 00:06:27.319 it would become? It was a world apart. I mean, 00:06:27.319 --> 00:06:29.040 operating in an entirely different industrial 00:06:29.040 --> 00:06:31.699 complex. Their core business was manufacturing 00:06:31.699 --> 00:06:34.939 cooking oil, specifically hydrogenated fats. 00:06:35.180 --> 00:06:37.920 It was marketed under the brand name Sunflower 00:06:37.920 --> 00:06:40.189 Venice Body. And for our international audience, 00:06:40.350 --> 00:06:43.029 what exactly is Venice body? It's a type of hydrogenated 00:06:43.029 --> 00:06:45.389 vegetable oil, often used as a substitute for 00:06:45.389 --> 00:06:47.750 ghee in cooking. It requires some pretty heavy 00:06:47.750 --> 00:06:50.290 industrial processing. And crucially, they also 00:06:50.290 --> 00:06:52.790 manufactured a byproduct from this process. Right, 00:06:52.870 --> 00:06:55.069 the laundry soap. The laundry soap, called 787, 00:06:55.329 --> 00:06:57.430 which utilized the residuals of the oil manufacturing 00:06:57.430 --> 00:07:00.170 process. So they were a successful, capital -intensive, 00:07:00.209 --> 00:07:03.709 industrial -era commodity company. Then, in 1966, 00:07:04.189 --> 00:07:06.689 the entire course of his life and the company's 00:07:06.689 --> 00:07:10.060 was altered. Mohamed Hashim Premji died suddenly. 00:07:10.660 --> 00:07:13.480 Azim Premji was only 21 years old, and as we 00:07:13.480 --> 00:07:15.160 mentioned, he was completely immersed in his 00:07:15.160 --> 00:07:17.220 engineering studies at Stanford. He had to drop 00:07:17.220 --> 00:07:18.860 everything. Everything. He had to return home 00:07:18.860 --> 00:07:21.240 immediately and take charge of this sprawling 00:07:21.240 --> 00:07:23.819 operation. And this moment marked the abrupt 00:07:23.819 --> 00:07:26.180 end of his formal engineering education at the 00:07:26.180 --> 00:07:28.079 time. He actually went back and finished his 00:07:28.079 --> 00:07:30.660 degree decades later. And the start of his leadership 00:07:30.660 --> 00:07:32.740 role in an industry that was the polar opposite 00:07:32.740 --> 00:07:34.560 of the high -tech future he was being trained 00:07:34.560 --> 00:07:37.519 for. That is an immense personal challenge. A 00:07:37.519 --> 00:07:40.040 21 -year -old straight out of a modern American 00:07:40.040 --> 00:07:42.839 university setting, suddenly tasked with managing 00:07:42.839 --> 00:07:45.040 an established traditional industrial empire 00:07:45.040 --> 00:07:48.879 built on hydrogenated oils and soap in 1960s 00:07:48.879 --> 00:07:51.420 India. That's a weight of responsibility few 00:07:51.420 --> 00:07:53.939 people ever experience. What was his immediate 00:07:53.939 --> 00:07:57.000 focus? It speaks volumes about his inherent leadership 00:07:57.000 --> 00:07:59.939 capacity and, I think more importantly, his willingness 00:07:59.939 --> 00:08:02.439 to engage directly with unfamiliar territory. 00:08:03.060 --> 00:08:05.779 Initially, the focus wasn't on revolution. It 00:08:05.779 --> 00:08:08.180 was on rationalizing and growing the existing 00:08:08.180 --> 00:08:11.399 business footprint. Stability first. Right. He 00:08:11.399 --> 00:08:13.319 couldn't just immediately pivot to high tech. 00:08:13.399 --> 00:08:16.519 So the strategy was stability and measured diversification 00:08:16.519 --> 00:08:19.379 within that commodity space. OK, so let's look 00:08:19.379 --> 00:08:21.779 at that crucial intermediary step because you 00:08:21.779 --> 00:08:25.000 don't go from sunflower Venice Betty to software 00:08:25.000 --> 00:08:28.180 overnight. Let's move into part two, the high 00:08:28.180 --> 00:08:31.850 tech transformation. What were those early diversification 00:08:31.850 --> 00:08:35.269 steps? Because they show his expansive vision 00:08:35.269 --> 00:08:37.970 even before the big software break. They were 00:08:37.970 --> 00:08:40.570 expansive, but they were still tied to industrial 00:08:40.570 --> 00:08:43.870 or consumer products. After Premji took over 00:08:43.870 --> 00:08:47.029 in 1966, he branched out into bakery fats, which 00:08:47.029 --> 00:08:49.049 are just variations of his core oil products. 00:08:49.210 --> 00:08:51.230 Makes sense. Then he moved into various ethnic 00:08:51.230 --> 00:08:53.269 ingredient -based toiletries, different hair 00:08:53.269 --> 00:08:56.389 care soaps, baby toiletries, even lighting products 00:08:56.389 --> 00:08:58.889 and hydraulic cylinders for industrial machinery. 00:08:59.250 --> 00:09:02.730 So a very broad portfolio. Exactly. The key takeaway 00:09:02.730 --> 00:09:05.909 is that Wipro was growing rapidly. By the 1970s, 00:09:05.909 --> 00:09:08.049 it was still fundamentally an industrial products 00:09:08.049 --> 00:09:10.129 manufacturer. It was using traditional manufacturing 00:09:10.129 --> 00:09:12.759 plants and supply chains. It was definitely not 00:09:12.759 --> 00:09:15.299 a high tech company yet. So the company is stable, 00:09:15.440 --> 00:09:17.759 diversified, successful in its legacy field. 00:09:17.899 --> 00:09:20.500 But success in the 70s doesn't guarantee survival 00:09:20.500 --> 00:09:23.600 in the 80s. And the history books tell us the 00:09:23.600 --> 00:09:26.200 external environment provided the crucial opportunity 00:09:26.200 --> 00:09:28.919 that Premji would seize to redefine his company 00:09:28.919 --> 00:09:32.519 entirely. We're talking about a massive geopolitical 00:09:32.519 --> 00:09:35.279 and economic event. This is where the story gets 00:09:35.279 --> 00:09:37.879 really, really interesting. The pivotal moment 00:09:37.879 --> 00:09:41.100 was the aftermath of the expulsion of IBM from 00:09:41.100 --> 00:09:44.570 India. In 1977, IBM gets kicked out. Right. And 00:09:44.570 --> 00:09:46.629 this event was driven largely by regulatory changes, 00:09:46.850 --> 00:09:48.830 specifically something called a Foreign Exchange 00:09:48.830 --> 00:09:52.730 Regulation Act or FARA. This act mandated that 00:09:52.730 --> 00:09:54.529 foreign companies had to dilute their equity 00:09:54.529 --> 00:09:56.629 down to 40 percent if they wanted to operate 00:09:56.629 --> 00:09:59.850 in India. A huge change. And IBM refused. IBM 00:09:59.850 --> 00:10:03.259 refused to comply. They viewed these equity restrictions 00:10:03.259 --> 00:10:05.679 as completely unacceptable constraints on their 00:10:05.679 --> 00:10:08.620 global operational model. So they left. And IBM's 00:10:08.620 --> 00:10:11.059 refusal to dilute their equity led to their complete 00:10:11.059 --> 00:10:13.600 withdrawal from the Indian market, which created 00:10:13.600 --> 00:10:16.059 an absolute void in high technology manufacturing 00:10:16.059 --> 00:10:18.039 and maintenance. It sounds like a sudden massive 00:10:18.039 --> 00:10:21.600 vacuum. It was exactly that. It created a massive 00:10:21.600 --> 00:10:24.759 immediate void, particularly for domestic businesses 00:10:24.759 --> 00:10:28.299 that needed computer hardware and support. This 00:10:28.299 --> 00:10:30.769 was Premji's moment. He didn't just see a gap 00:10:30.769 --> 00:10:34.230 to fill. He saw an opportunity to redefine Wipro's 00:10:34.230 --> 00:10:36.490 very identity. He saw the future. He realized 00:10:36.490 --> 00:10:39.129 that the future was in technology, and the government 00:10:39.129 --> 00:10:41.509 had just cleared the entire playing field for 00:10:41.509 --> 00:10:44.070 domestic players. That pivot requires enormous 00:10:44.070 --> 00:10:47.289 foresight and courage. What specifically did 00:10:47.289 --> 00:10:49.269 Premji understand about the Indian market at 00:10:49.269 --> 00:10:51.929 that exact moment that allowed him to make that 00:10:51.929 --> 00:10:54.669 radical jump from soap to circuits? Well, I think 00:10:54.669 --> 00:10:57.129 he understood three things. First, the regulatory 00:10:57.129 --> 00:10:59.309 environment was shifting to favor domestic production, 00:10:59.529 --> 00:11:01.789 which protected local enterprises from immediate 00:11:01.789 --> 00:11:04.250 global competition. A protected market. A protected 00:11:04.250 --> 00:11:07.450 market, yes. Second, he recognized that the foundational 00:11:07.450 --> 00:11:10.309 need for technology in Indian industry and government 00:11:10.309 --> 00:11:13.230 was only going to grow exponentially. And third, 00:11:13.389 --> 00:11:15.230 and this is the most crucial part, he had the 00:11:15.230 --> 00:11:17.850 capital base from the successful commodity business, 00:11:18.110 --> 00:11:21.269 the soaps and oils, to finance the massive research 00:11:21.269 --> 00:11:23.649 and development and the retraining required for 00:11:23.649 --> 00:11:27.049 the pivot. So he used the old economy to fund 00:11:27.049 --> 00:11:29.429 the new one. He took the capital generated by 00:11:29.429 --> 00:11:32.049 the industrial economy and injected it directly 00:11:32.049 --> 00:11:34.870 into the future knowledge economy. And so the 00:11:34.870 --> 00:11:37.070 brand identity followed the strategic shift. 00:11:37.330 --> 00:11:40.659 Exactly. He capitalized on this vacuum. changed 00:11:40.659 --> 00:11:43.679 the company name to the modernized Wipro, which 00:11:43.679 --> 00:11:45.539 is a contraction of Western Indian vegetable 00:11:45.539 --> 00:11:48.519 products, and formally launched the company into 00:11:48.519 --> 00:11:51.159 the high technology sector. Now let's talk specifics. 00:11:51.480 --> 00:11:54.240 They didn't jump straight into global outsourcing, 00:11:54.440 --> 00:11:57.279 which is what Wipro is famous for today. What 00:11:57.279 --> 00:11:59.879 was their initial technical product and how on 00:11:59.879 --> 00:12:02.909 earth did they acquire the capability? That seems 00:12:02.909 --> 00:12:04.529 like the most challenging part of the pivot. 00:12:04.730 --> 00:12:06.509 It was incredibly challenging. Their initial 00:12:06.509 --> 00:12:09.149 product was manufacturing mini computers. But 00:12:09.149 --> 00:12:11.549 Wipro fundamentally was a company that understood 00:12:11.549 --> 00:12:14.549 hydrogenated oils. It did not understand integrated 00:12:14.549 --> 00:12:18.009 circuits. So to bridge this huge capability gap, 00:12:18.309 --> 00:12:20.789 Premji sought out crucial technological partnerships. 00:12:21.250 --> 00:12:23.269 Right. He couldn't build it from scratch. No 00:12:23.269 --> 00:12:25.830 way. He collaborated specifically with an American 00:12:25.830 --> 00:12:27.690 company named Sentinel Computer Corporation. 00:12:28.250 --> 00:12:30.350 Let's expand on that partnership. I mean, how 00:12:30.350 --> 00:12:33.669 do you go from licensing technology to actually 00:12:33.669 --> 00:12:36.289 manufacturing complex hardware successfully? 00:12:36.730 --> 00:12:39.110 Was this a full transfer of technical knowledge? 00:12:39.370 --> 00:12:43.669 It was a complex and iterative process built 00:12:43.669 --> 00:12:46.500 on a licensing arrangement. Wipro essentially 00:12:46.500 --> 00:12:49.139 acquired the necessary technology and know -how 00:12:49.139 --> 00:12:51.620 from Sentinel to manufacture and assemble the 00:12:51.620 --> 00:12:53.980 minicomputers locally. This allowed them to bypass 00:12:53.980 --> 00:12:56.539 years and years of R &D. But the real genius 00:12:56.539 --> 00:12:58.419 was in the adaptation, right? That's it. They 00:12:58.419 --> 00:13:01.279 had to adapt the Sentinel technology to the uniquely 00:13:01.279 --> 00:13:04.419 challenging infrastructure of 1980s India. You're 00:13:04.419 --> 00:13:06.519 dealing with inconsistent power supply, humidity, 00:13:06.779 --> 00:13:09.360 a very limited domestic component supply chain. 00:13:09.759 --> 00:13:12.139 So they developed an internal engineering culture 00:13:12.139 --> 00:13:14.620 capable of localized manufacturing and maintenance, 00:13:14.799 --> 00:13:17.580 building market credibility rabidly as a reliable 00:13:17.580 --> 00:13:19.740 domestic alternative to the departed international 00:13:19.740 --> 00:13:22.759 giants. The strategic genius is just undeniable. 00:13:22.960 --> 00:13:25.759 Premji used an external economic event, IBM's 00:13:25.759 --> 00:13:27.840 expulsion, and merged it with his own latent 00:13:27.840 --> 00:13:29.799 engineering knowledge and his company's existing 00:13:29.799 --> 00:13:32.840 cackle, facilitating a what you called a focused 00:13:32.840 --> 00:13:35.720 shift from soaks to software. And that focus 00:13:35.720 --> 00:13:38.279 shift worked. Because it started with a tangible 00:13:38.279 --> 00:13:40.299 physical product, the mini computer hardware. 00:13:40.879 --> 00:13:43.460 This gave Wipro immediate revenue streams in 00:13:43.460 --> 00:13:46.360 the tech sector and a platform to really understand 00:13:46.360 --> 00:13:48.620 the needs of their clients, which set the stage 00:13:48.620 --> 00:13:51.379 for the later, more lucrative shift into software 00:13:51.379 --> 00:13:54.379 services and IT outsourcing as global connectivity 00:13:54.379 --> 00:13:57.759 improved. This adaptability is the hallmark of 00:13:57.759 --> 00:14:00.639 true visionary entrepreneurship. It really is. 00:14:01.019 --> 00:14:03.320 And the success of that pivot was so profound 00:14:03.320 --> 00:14:06.100 that it required restructuring the way the family 00:14:06.100 --> 00:14:10.399 managed the resulting wealth. Yes. By 2006, Wipro's 00:14:10.399 --> 00:14:12.740 success had generated a level of financial might 00:14:12.740 --> 00:14:15.220 that required dedicated management beyond the 00:14:15.220 --> 00:14:17.960 traditional corporate structure. So Premji established 00:14:17.960 --> 00:14:21.019 his family office. named Premji Invest or PI. 00:14:21.259 --> 00:14:24.299 And this signaled the transition of wealth management 00:14:24.299 --> 00:14:26.600 and strategic investment into its own dedicated 00:14:26.600 --> 00:14:29.419 large scale structure. It was managing the scale 00:14:29.419 --> 00:14:31.919 of the fortune generated by the tech pivot. And 00:14:31.919 --> 00:14:34.120 importantly, it was differentiating the wealth 00:14:34.120 --> 00:14:36.740 from the operational company. Wipro became a 00:14:36.740 --> 00:14:39.320 global player and Azim Premji, by extension, 00:14:39.500 --> 00:14:42.019 became an international figure recognized not 00:14:42.019 --> 00:14:44.600 just for his wealth, but for his visionary leadership. 00:14:45.039 --> 00:14:48.080 So what does this all mean for his global stature 00:14:48.080 --> 00:14:50.820 and influence? It means he's consistently sided 00:14:50.820 --> 00:14:53.919 alongside global figures, not just in tech, but 00:14:53.919 --> 00:14:56.879 in world affairs and humanitarian efforts. The 00:14:56.879 --> 00:14:59.240 international recognition he received really 00:14:59.240 --> 00:15:01.259 underscores the impact of his success story. 00:15:01.580 --> 00:15:03.980 Can you give us some of those high profile details, 00:15:04.139 --> 00:15:05.899 the ones that speak to his influence outside 00:15:05.899 --> 00:15:08.299 of just pure business circles? Certainly. In 00:15:08.299 --> 00:15:11.000 2010, he was voted among the 20 most powerful 00:15:11.000 --> 00:15:14.600 men in the world by Asia Week. And that's a recognition 00:15:14.600 --> 00:15:17.460 of geopolitical, not just commercial influence. 00:15:17.820 --> 00:15:20.789 That's a big deal. It is. Furthermore, Time magazine 00:15:20.789 --> 00:15:23.169 listed him among the 100 most influential people, 00:15:23.350 --> 00:15:25.490 reflecting his dual status as a business leader 00:15:25.490 --> 00:15:28.009 and later as a philanthropist. They honored him 00:15:28.009 --> 00:15:31.789 in both 2004 and again in 2011. And the 2011 00:15:31.789 --> 00:15:34.809 Time 100 entry is a fascinating detail. It speaks 00:15:34.809 --> 00:15:37.009 to the level of peer respect he garnered from 00:15:37.009 --> 00:15:38.789 the international tech community. Absolutely. 00:15:39.009 --> 00:15:40.950 The entry was written by Bill Gates. Bill Gates 00:15:40.950 --> 00:15:44.340 himself. The co -founder of Microsoft. When someone 00:15:44.340 --> 00:15:46.779 who fundamentally changed the global tech landscape 00:15:46.779 --> 00:15:49.440 writes your tribute in a magazine like Time, 00:15:49.659 --> 00:15:52.360 it confirms that your impact is recognized as 00:15:52.360 --> 00:15:54.820 being on par with the greatest business and social 00:15:54.820 --> 00:15:57.240 architects of the age. That's incredible. He's 00:15:57.240 --> 00:15:59.080 also been recognized by Businessweek as one of 00:15:59.080 --> 00:16:01.559 the greatest entrepreneurs and is regularly listed 00:16:01.559 --> 00:16:04.200 among the 500 most influential Muslims globally, 00:16:04.399 --> 00:16:06.879 which highlights his cross -cultural and religious 00:16:06.879 --> 00:16:09.340 influence. And, of course, the honors piled up 00:16:09.340 --> 00:16:12.299 in India and abroad, recognizing both the decades 00:16:12.299 --> 00:16:15.210 of business success and the scale of his later 00:16:15.210 --> 00:16:18.230 profound philanthropic efforts. The recognition 00:16:18.230 --> 00:16:20.750 from the Indian government reflects the national 00:16:20.750 --> 00:16:23.429 importance of Wipro and his contributions to 00:16:23.429 --> 00:16:25.889 the Indian economy. He received India's third 00:16:25.889 --> 00:16:28.889 highest civilian award, the Padma Bhushan, for 00:16:28.889 --> 00:16:31.529 his work in trade and commerce in 2005. And then 00:16:31.529 --> 00:16:33.809 an even higher one. Just six years later, in 00:16:33.809 --> 00:16:36.570 2011, he was elevated to India's second highest 00:16:36.570 --> 00:16:39.870 civilian award, the Padma Vipushan. These awards 00:16:39.870 --> 00:16:41.830 represent the deepest gratitude of the nation 00:16:41.830 --> 00:16:45.049 for his industrial and economic impact. And the 00:16:45.049 --> 00:16:47.990 diplomatic recognition extended far beyond India's 00:16:47.990 --> 00:16:50.970 borders as well. Indeed. In 2018, the French 00:16:50.970 --> 00:16:53.610 government conferred upon him the highest French 00:16:53.610 --> 00:16:57.370 civilian distinction, the Chevalier de la Légion 00:16:57.370 --> 00:16:59.450 d 'Honneur, the Knight of the Legion of Honor. 00:16:59.549 --> 00:17:02.370 The Legion of Honor. Yes. This is reserved for 00:17:02.370 --> 00:17:04.670 individuals who have made exemplary contributions 00:17:04.670 --> 00:17:08.480 to France or, you know, globally. This kind of 00:17:08.480 --> 00:17:10.480 honor is a testament to the international diplomatic 00:17:10.480 --> 00:17:14.059 acknowledgement of WIPRO's global footprint and 00:17:14.059 --> 00:17:16.980 Premji's personal stature. And it's clear that 00:17:16.980 --> 00:17:19.140 the academic world also weighed in, recognizing 00:17:19.140 --> 00:17:21.740 this dual trajectory, the builder of the empire 00:17:21.740 --> 00:17:24.519 and the giver of the fortune. It seems like they 00:17:24.519 --> 00:17:27.119 recognized his business acumen separately from 00:17:27.119 --> 00:17:29.599 his commitment to philanthropy. That separation 00:17:29.599 --> 00:17:31.980 and recognition is extremely telling. It's about 00:17:31.980 --> 00:17:34.559 his two distinct legacies. He received an honorary 00:17:34.559 --> 00:17:36.980 doctorate from Manipal Academy of Higher Education 00:17:36.980 --> 00:17:40.319 in 2000 for his business achievements. Then later, 00:17:40.440 --> 00:17:42.740 Wesleyan University in Connecticut specifically 00:17:42.740 --> 00:17:46.000 awarded him an honorary doctorate in 2009 for 00:17:46.000 --> 00:17:47.900 his philanthropic work. For the philanthropy 00:17:47.900 --> 00:17:51.079 specifically. Yes. And then Mysore University 00:17:51.079 --> 00:17:53.579 conferred an honorary doctorate on him in 2015. 00:17:54.099 --> 00:17:56.380 This demonstrates a clear line of recognition, 00:17:56.680 --> 00:17:58.940 first for building one of the world's most impressive 00:17:58.940 --> 00:18:01.759 IT companies, and second for making the conscious 00:18:01.759 --> 00:18:04.680 choice to systematically distribute that wealth 00:18:04.680 --> 00:18:07.220 for public benefit. That systematic distribution 00:18:07.220 --> 00:18:09.380 is where we need to turn now. It is arguably 00:18:09.380 --> 00:18:13.039 his most defining and enduring legacy. Let's 00:18:13.039 --> 00:18:16.039 shift our focus to part three, the zenith of 00:18:16.039 --> 00:18:19.069 philanthropy. This isn't just about writing checks. 00:18:19.170 --> 00:18:21.910 This is about structural generational commitment. 00:18:22.130 --> 00:18:24.849 That's the crucial distinction. Unlike many billionaires 00:18:24.849 --> 00:18:27.250 who approach philanthropy later in life or primarily 00:18:27.250 --> 00:18:30.369 through immediate donations, Premji formalized 00:18:30.369 --> 00:18:32.710 his commitment to systemic change relatively 00:18:32.710 --> 00:18:35.410 early in the 21st century. He recognized that 00:18:35.410 --> 00:18:38.569 truly fixing problems takes time and scale. He 00:18:38.569 --> 00:18:40.869 founded the Azeem Premji Foundation in 2001. 00:18:41.130 --> 00:18:43.390 When you have a philanthropic vehicle funded 00:18:43.390 --> 00:18:45.880 by a multi -billion dollar fortune, You have 00:18:45.880 --> 00:18:48.140 to be highly selective about your focus. What 00:18:48.140 --> 00:18:50.480 is the foundation's precise mission and, well, 00:18:50.599 --> 00:18:53.299 why education? The foundation is a non -profit 00:18:53.299 --> 00:18:56.240 organization focused specifically and almost 00:18:56.240 --> 00:18:59.400 exclusively on improving the public school system 00:18:59.400 --> 00:19:02.480 in disadvantaged regions of India. This focus 00:19:02.480 --> 00:19:05.259 on systemic foundational change is the main thrust. 00:19:05.559 --> 00:19:08.259 And why education? Premji fundamentally believes 00:19:08.259 --> 00:19:11.140 that poverty is often a consequence of poor access 00:19:11.140 --> 00:19:15.380 to quality education. So, fixing the basic educational 00:19:15.380 --> 00:19:18.240 foundation, the quality of teachers, the school 00:19:18.240 --> 00:19:20.740 environment, the curriculum, is the highest leverage 00:19:20.740 --> 00:19:23.660 way to enable millions of underprivileged Indians 00:19:23.660 --> 00:19:27.049 to participate fully in the modern economy. It's 00:19:27.049 --> 00:19:29.269 about creating a sustainable pipeline out of 00:19:29.269 --> 00:19:31.630 generational poverty. So it's a long -term strategy 00:19:31.630 --> 00:19:33.890 for systemic overhaul, not just providing immediate 00:19:33.890 --> 00:19:36.369 relief. And his involvement isn't passive, right? 00:19:36.430 --> 00:19:38.750 He's actively involved in the institutions he 00:19:38.750 --> 00:19:41.029 funds. His active involvement is critical to 00:19:41.029 --> 00:19:43.170 the foundation's credibility and its ability 00:19:43.170 --> 00:19:45.930 to attract high -quality talent. He serves as 00:19:45.930 --> 00:19:47.849 the chancellor of the Azim Premji University 00:19:47.849 --> 00:19:50.349 in Bangalore. The chancellor. And this university 00:19:50.349 --> 00:19:52.789 is not just a high -prestige institution. It 00:19:52.789 --> 00:19:55.809 is the operational arm for his mission. It serves 00:19:55.809 --> 00:19:58.490 as a training ground for teachers, educational 00:19:58.490 --> 00:20:00.970 researchers, and professionals who will staff, 00:20:01.210 --> 00:20:03.970 study, and ultimately improve the very public 00:20:03.970 --> 00:20:07.289 education systems the Foundation targets. This 00:20:07.289 --> 00:20:09.089 shows a commitment to sustainability funding, 00:20:09.269 --> 00:20:11.569 not just the infrastructure, but the intellectual 00:20:11.569 --> 00:20:14.480 capital required to run it effectively. The ultimate 00:20:14.480 --> 00:20:17.180 public declaration of his intent came in 2013 00:20:17.180 --> 00:20:20.039 when he became the first Indian to sign the Giving 00:20:20.039 --> 00:20:22.440 Pledge. Right. The Giving Pledge, as many listeners 00:20:22.440 --> 00:20:24.839 will know, is the campaign initiated by Warren 00:20:24.839 --> 00:20:27.660 Buffett and Bill Gates, urging the world's wealthiest 00:20:27.660 --> 00:20:30.079 individuals to commit to giving away the majority 00:20:30.079 --> 00:20:33.140 of their net worth to philanthropic causes, either 00:20:33.140 --> 00:20:36.279 during their lifetime or in their will. And contextually, 00:20:36.339 --> 00:20:38.779 that placed him immediately in extremely elite 00:20:38.779 --> 00:20:41.990 international company. It really did. When he 00:20:41.990 --> 00:20:44.410 signed, Premji was only the third non -American, 00:20:44.569 --> 00:20:46.710 following Richard Branson and David Sainsbury, 00:20:46.930 --> 00:20:49.829 to join this highly visible global movement. 00:20:50.349 --> 00:20:53.170 This instantly placed him on the global map of 00:20:53.170 --> 00:20:56.730 elite, impactful philanthropists. It was a signal 00:20:56.730 --> 00:20:58.349 that his efforts were going to be on the same 00:20:58.349 --> 00:21:01.410 scale as the largest American charitable foundations. 00:21:01.910 --> 00:21:04.609 He captured his commitment rationale with a quote 00:21:04.609 --> 00:21:07.210 that speaks directly to a sense of moral obligation 00:21:07.210 --> 00:21:11.329 tied to extreme success. That quote is so profound 00:21:11.329 --> 00:21:15.130 in its simplicity and clarity. He said I strongly 00:21:15.130 --> 00:21:17.069 believe that those of us who are privileged to 00:21:17.069 --> 00:21:19.650 have wealth should contribute significantly to 00:21:19.650 --> 00:21:21.930 try and create a better world for the millions 00:21:21.930 --> 00:21:24.609 who are far less privileged. It's not framed 00:21:24.609 --> 00:21:26.869 as mere generosity. It's framed as an ethical 00:21:26.869 --> 00:21:29.650 responsibility. Exactly. An ethical responsibility 00:21:29.650 --> 00:21:31.950 that comes with immense privilege. Now, we need 00:21:31.950 --> 00:21:33.670 to spend some real time on the numbers because 00:21:33.670 --> 00:21:36.009 the staggering scale of his commitment is defined 00:21:36.009 --> 00:21:39.329 by how he executed this pledge. It wasn't through 00:21:39.329 --> 00:21:42.049 cash transfers, but through an escalating systematic 00:21:42.049 --> 00:21:44.740 transfer of corporate ownership. That's the most 00:21:44.740 --> 00:21:47.680 powerful and I think unusual aspect of his philanthropy. 00:21:48.500 --> 00:21:50.960 The scale is monumental because he committed 00:21:50.960 --> 00:21:52.960 not just the equivalent of his net worth in cash, 00:21:53.140 --> 00:21:57.119 but the very equity of Wipro itself. By transferring 00:21:57.119 --> 00:21:59.519 shares into the foundation trust, he ensured 00:21:59.519 --> 00:22:01.940 that the giving would continue to grow and generate 00:22:01.940 --> 00:22:04.779 income alongside the company's success, making 00:22:04.779 --> 00:22:06.519 the foundation sustainable in the long term. 00:22:06.680 --> 00:22:08.460 Let's track the evolution of these commitments. 00:22:09.130 --> 00:22:10.990 The initial pledge was to give away at least 00:22:10.990 --> 00:22:13.369 half of his wealth, which started with a $2 .2 00:22:13.369 --> 00:22:17.049 billion donation in 2013. But the transfers actually 00:22:17.049 --> 00:22:19.569 started earlier. They did. Back in December 2010, 00:22:19.809 --> 00:22:22.369 even before he formally joined the pledge, he 00:22:22.369 --> 00:22:25.069 initially committed $2 billion by transferring 00:22:25.069 --> 00:22:29.230 8 .7 % of his stake in Wipro, that's 213 million 00:22:29.230 --> 00:22:32.309 equity shares, to the Foundation Trust. An incredible 00:22:32.309 --> 00:22:35.150 start. Then, in February 2013, he transferred 00:22:35.150 --> 00:22:38.089 an additional 12 % stake. This is Premji systematically 00:22:38.089 --> 00:22:40.410 handing over ownership of the company he built. 00:22:40.490 --> 00:22:42.750 So he's just continuously adding these major 00:22:42.750 --> 00:22:44.750 chunks of the company to the Foundation's ownership. 00:22:45.250 --> 00:22:48.470 Precisely. In July 2015, he gave away yet another 00:22:48.470 --> 00:22:51.589 18 % stake. So if you combine these three major 00:22:51.589 --> 00:22:55.430 transfers, the 8 .7%, the 12%, and the 18%, it 00:22:55.430 --> 00:22:57.769 brought his total corporate contribution at that 00:22:57.769 --> 00:23:00.990 time up to an already staggering 39 % of his 00:23:00.990 --> 00:23:04.680 Wipro ownership. 39%. That is an enormous amount 00:23:04.680 --> 00:23:07.160 of personal wealth and control to cede to a public 00:23:07.160 --> 00:23:09.740 trust. It's huge. But the real record setter, 00:23:09.740 --> 00:23:11.700 the one that cemented his place among the world's 00:23:11.700 --> 00:23:13.779 most generous philanthropists, came a few years 00:23:13.779 --> 00:23:16.039 later. This was the big one. Yes. The capstone 00:23:16.039 --> 00:23:18.980 commitment was made in March 2019 when Premji 00:23:18.980 --> 00:23:21.759 pledged an additional 34 % of his remaining Wipro 00:23:21.759 --> 00:23:23.930 stock to the foundation. So you combine all those 00:23:23.930 --> 00:23:27.289 transfers, the 8 .7%, the 12%, the 18%, and now 00:23:27.289 --> 00:23:30.710 this massive 34%. What is the crucial resulting 00:23:30.710 --> 00:23:33.109 figure for the total endowment that the Ezim 00:23:33.109 --> 00:23:35.890 Premji Foundation now stewards? This final large 00:23:35.890 --> 00:23:38.250 transfer dramatically increased the total endowment 00:23:38.250 --> 00:23:40.650 from Premji to the foundation to a massive consolidated 00:23:40.650 --> 00:23:45.450 value of U .S. $21 billion. $21 billion. This 00:23:45.450 --> 00:23:48.769 figure. noted by Forbes in 2019, instantly made 00:23:48.769 --> 00:23:51.069 him the undisputed top Indian philanthropist 00:23:51.069 --> 00:23:53.529 by an immense margin and placed him right among 00:23:53.529 --> 00:23:55.509 the world's most generous philanthropists outside 00:23:55.509 --> 00:23:58.990 the United States. This kind of systematic, equity 00:23:58.990 --> 00:24:01.890 -based giving, totaling over 60 % of his holding, 00:24:02.049 --> 00:24:05.250 is truly world -leading. To help our international 00:24:05.250 --> 00:24:08.430 audience grasp the scale, we need to contextualize 00:24:08.430 --> 00:24:10.789 the massive figures in Indian currency that we 00:24:10.789 --> 00:24:12.890 see in the source material, like the daily donation 00:24:12.890 --> 00:24:16.809 figures. This amount, $21 billion, is transformational. 00:24:16.890 --> 00:24:19.089 I mean, it's not a sum that supports. It's a 00:24:19.089 --> 00:24:21.410 sum that fundamentally restructures, enabling 00:24:21.410 --> 00:24:24.250 deep, sustainable, systemic change in public 00:24:24.250 --> 00:24:26.710 education, which is exactly the foundation's 00:24:26.710 --> 00:24:29.109 goal. Absolutely. And the commitment is ongoing, 00:24:29.410 --> 00:24:31.069 which is why he constantly tops philanthropy 00:24:31.069 --> 00:24:34.059 lists. The source material highlights this. ongoing 00:24:34.059 --> 00:24:36.579 effort, noting that he topped the Elgif Huron 00:24:36.579 --> 00:24:39.140 India philanthropy list multiple times, including 00:24:39.140 --> 00:24:42.980 2020 and 2021. For instance, in 2021, the analysis 00:24:42.980 --> 00:24:45.299 calculated that he was donating 27 crore per 00:24:45.299 --> 00:24:48.220 day. That number, 27 crore per day, sounds enormous. 00:24:48.400 --> 00:24:50.240 Can we put that into immediate context for the 00:24:50.240 --> 00:24:52.359 international listener? We absolutely should. 00:24:52.480 --> 00:24:56.400 One crore is 10 million Indian rupees. So 27 00:24:56.400 --> 00:24:59.660 crore is 270 million rupees. Depending on the 00:24:59.660 --> 00:25:01.640 exchange rate at the time, that equates to roughly 00:25:01.640 --> 00:25:05.400 3 .5 to 4 million US dollars being donated every 00:25:05.400 --> 00:25:08.960 single day in 2021 alone. Every day. Every single 00:25:08.960 --> 00:25:11.769 day. This isn't just a passive endowment. It 00:25:11.769 --> 00:25:14.190 is an active, massive engine of social good, 00:25:14.309 --> 00:25:16.930 spending millions daily to affect change. That 00:25:16.930 --> 00:25:19.789 is a staggering detail that truly brings home 00:25:19.789 --> 00:25:22.289 the operational force of the foundation. It's 00:25:22.289 --> 00:25:25.069 not just a reserve of funds. It's a constant 00:25:25.069 --> 00:25:27.769 expenditure of capital directed at social impact. 00:25:28.109 --> 00:25:30.390 And this rapid mobilization capability proved 00:25:30.390 --> 00:25:32.670 essential during national crises, most notably 00:25:32.670 --> 00:25:35.269 the devastating COVID -19 pandemic. The foundation 00:25:35.269 --> 00:25:37.650 stepped up immediately and with serious multilevel 00:25:37.650 --> 00:25:39.839 resources, showing that its systemic approach 00:25:39.839 --> 00:25:42.339 can also be nimble when required. Let's discuss 00:25:42.339 --> 00:25:44.460 the specific commitments the Azim Premji Foundation 00:25:44.460 --> 00:25:47.440 and Wipro made during the crisis response. It 00:25:47.440 --> 00:25:49.460 shows how the corporate and philanthropic vehicles 00:25:49.460 --> 00:25:53.059 collaborated. Right. In April 2020, at the start 00:25:53.059 --> 00:25:55.740 of the initial wave, the Azim Premji Foundation, 00:25:56.200 --> 00:25:59.279 Wipro, and Wipro Enterprises jointly committed 00:25:59.279 --> 00:26:04.359 a massive sum of 1 ,125 crore. Using the general 00:26:04.359 --> 00:26:06.440 exchange rate at the time, this was equivalent 00:26:06.440 --> 00:26:10.279 to about U .S. $140 million, specifically dedicated 00:26:10.279 --> 00:26:13.019 to immediate COVID -19 relief efforts across 00:26:13.019 --> 00:26:16.019 the country. $140 million. And this money was 00:26:16.019 --> 00:26:18.640 directed toward frontline response, medical supplies, 00:26:18.859 --> 00:26:21.259 and aid distribution. And their commitment didn't 00:26:21.259 --> 00:26:23.519 end with the initial relief efforts. They followed 00:26:23.519 --> 00:26:26.539 up as the pandemic evolved into a massive vaccination 00:26:26.539 --> 00:26:30.180 effort. They did. In June 2021, they made an 00:26:30.180 --> 00:26:32.480 additional substantial commitment of 1 ,000 core. 00:26:32.829 --> 00:26:36.789 That's over $120 million USD, focused specifically 00:26:36.789 --> 00:26:38.930 on supporting the universal vaccination program 00:26:38.930 --> 00:26:41.970 across the country. This consistent, large -scale 00:26:41.970 --> 00:26:43.829 investment directed toward public health and 00:26:43.829 --> 00:26:46.150 systemic improvement shows that while their primary 00:26:46.150 --> 00:26:48.470 focus is education, the underlying philosophy 00:26:48.470 --> 00:26:51.009 is national infrastructural support. The consistent 00:26:51.009 --> 00:26:53.269 recognition topping those philanthropy lists 00:26:53.269 --> 00:26:55.990 year after year seems simply a byproduct of his 00:26:55.990 --> 00:26:58.529 sustained scale and sincerity. The recognition 00:26:58.529 --> 00:27:00.930 is consistent because the investment is relentless. 00:27:01.450 --> 00:27:04.309 As we noted, he was recognized for donating the 00:27:04.309 --> 00:27:06.049 equivalent of three and a half to four million 00:27:06.049 --> 00:27:10.369 U .S. dollars per day in 2021 alone. This high 00:27:10.369 --> 00:27:13.769 volume of sustained, targeted giving validates 00:27:13.769 --> 00:27:15.750 his status as a leader in global philanthropy. 00:27:16.200 --> 00:27:18.480 He built a tech empire out of a soap company 00:27:18.480 --> 00:27:21.000 and then transformed the majority of that empire 00:27:21.000 --> 00:27:23.779 into an unprecedented philanthropic engine for 00:27:23.779 --> 00:27:26.259 public good, focusing rigorously on one of the 00:27:26.259 --> 00:27:29.319 most fundamental needs, education. It's an incredible 00:27:29.319 --> 00:27:31.779 story. We've covered the three massive pivot 00:27:31.779 --> 00:27:34.400 narratives of his life. The unexpected start 00:27:34.400 --> 00:27:36.680 as the inheritor of a vegetable oil and soap 00:27:36.680 --> 00:27:39.220 company, the savvy and crucial pivot enabled 00:27:39.220 --> 00:27:42.140 by the geopolitical vacuum left by IBM's expulsion, 00:27:42.279 --> 00:27:45.259 and the unmatched, staggering scale of his commitment. 00:27:45.519 --> 00:27:48.460 to equity -based philanthropy. It's truly a story 00:27:48.460 --> 00:27:50.880 of constant, radical, and successful evolution. 00:27:51.299 --> 00:27:54.599 It is a profound legacy, defined equally by vision 00:27:54.599 --> 00:27:57.440 and adaptability. And while Azam Premji retired 00:27:57.440 --> 00:28:00.119 from his day -to -day operational role in 2019, 00:28:00.380 --> 00:28:02.880 stepping into the role of founder chairman and 00:28:02.880 --> 00:28:05.400 a non -executive member of the board, the company's 00:28:05.400 --> 00:28:08.519 transition is also a story of successful, successional 00:28:08.519 --> 00:28:11.619 planning. It ensures the corporate entity he 00:28:11.619 --> 00:28:14.690 transformed remains strong. That's an important 00:28:14.690 --> 00:28:16.890 final detail for the business aspect of his life, 00:28:16.950 --> 00:28:19.410 the continuity of Wipro as a functioning global 00:28:19.410 --> 00:28:23.029 entity. Yes. His son, Rashad Premji, currently 00:28:23.029 --> 00:28:25.430 serves as the chairman of Wipro, ensuring the 00:28:25.430 --> 00:28:27.750 continuity of the business leadership. And this 00:28:27.750 --> 00:28:30.049 allows Azeem Premji to focus his energy entirely 00:28:30.049 --> 00:28:32.470 on the stewardship of the foundation and its 00:28:32.470 --> 00:28:35.329 monumental $21 billion mission. A mission which 00:28:35.329 --> 00:28:37.750 has essentially become his life's singular focus. 00:28:37.910 --> 00:28:40.049 That's right. So what does this all mean for 00:28:40.049 --> 00:28:42.609 us, the learner? We have discussed Premji's foundational 00:28:42.609 --> 00:28:44.650 belief. that those who are privileged to have 00:28:44.650 --> 00:28:47.109 wealth should contribute significantly to create 00:28:47.109 --> 00:28:49.289 a better world for the millions who are less 00:28:49.289 --> 00:28:52.230 privileged. His $21 billion endowment is focused 00:28:52.230 --> 00:28:54.670 almost entirely on systemic improvements in public 00:28:54.670 --> 00:28:57.269 education in disadvantaged regions of India. 00:28:57.509 --> 00:28:59.710 It raises a crucial question about the optimal 00:28:59.710 --> 00:29:02.849 use of exponential capital for social good. Primji 00:29:02.849 --> 00:29:05.049 applied the scale and systemic thinking of a 00:29:05.049 --> 00:29:08.289 tech billionaire to one singular social problem 00:29:08.289 --> 00:29:11.259 education. He believes that education is the 00:29:11.259 --> 00:29:14.240 fundamental lever for mass upward mobility. So 00:29:14.240 --> 00:29:16.099 if we consider the implications of this scale 00:29:16.099 --> 00:29:19.180 and focus this methodology of systemic overhaul, 00:29:19.380 --> 00:29:22.480 what is the right singular area of social impact? 00:29:22.779 --> 00:29:24.660 It really encourages you to think beyond just 00:29:24.660 --> 00:29:27.460 scattered charity and look towards systemic overhaul. 00:29:27.700 --> 00:29:30.400 Was Premji right that education is the ultimate 00:29:30.400 --> 00:29:32.700 lever providing the highest return on investment 00:29:32.700 --> 00:29:34.839 for the future? Or given the urgency of global 00:29:34.839 --> 00:29:37.359 challenges today, would focusing that kind of 00:29:37.359 --> 00:29:40.339 resource, $21 billion on an immediate systemic 00:29:40.339 --> 00:29:42.880 problem, say clean water access, basic maternal 00:29:42.880 --> 00:29:45.400 health care. infrastructure or sustainable energy 00:29:45.400 --> 00:29:47.940 adoption in developing nations create an even 00:29:47.940 --> 00:29:50.079 faster, more fundamental change for the most 00:29:50.079 --> 00:29:52.700 disadvantaged populations worldwide. It's the 00:29:52.700 --> 00:29:55.059 challenge Primji has laid down, not just to other 00:29:55.059 --> 00:29:58.339 global billionaires, but to all of us. How can 00:29:58.339 --> 00:30:01.059 we move from relief efforts to systemic solutions? 00:30:01.359 --> 00:30:03.500 And where should we place our biggest bets for 00:30:03.500 --> 00:30:06.519 the future? He has given us a clear model for 00:30:06.519 --> 00:30:08.700 applying corporate scale to social necessity. 00:30:09.259 --> 00:30:13.059 A profound thought to end on. We hope this deep 00:30:13.059 --> 00:30:16.319 dive into the life of Azim Premji, from the rice 00:30:16.319 --> 00:30:18.920 king's son to the soap magnate to the software 00:30:18.920 --> 00:30:22.019 titan and finally the philanthropic giant, has 00:30:22.019 --> 00:30:24.420 provided you with the necessary context and insight 00:30:24.420 --> 00:30:26.700 to appreciate the sheer magnitude and strategic 00:30:26.700 --> 00:30:29.019 brilliance of his contributions. Thank you for 00:30:29.019 --> 00:30:30.960 joining us for this in -depth exploration of 00:30:30.960 --> 00:30:32.740 the source material. We'll be back soon with 00:30:32.740 --> 00:30:34.680 another stack of sources and another deep dive 00:30:34.680 --> 00:30:36.980 tailored just for you. Until then, keep digging.