In the world of business, he is one of the most respected businessmen. He is estimated to have a net worth of $22.3 billion.
Introduction
Azim Premji is the chairman of Wipro Limited, one of the largest software companies in India. His father had started the company in 1958.
Based on the latest info available, Premji’s net worth is estimated to be four and a half billion dollars.
Azim Premji is the richest Indian currently in the world, and holds a rank of 6th in the Forbes’ list of billionaires. He was listed with a net worth of $4.5 billion making himself to the richest Indian.
Early Life
He is the chairman and chief executive officer of Wipro and the co-chairman of Azim Premji University.
Mohamed Hashem Premji worked for 25 years in Burma. He built several mosques and a lot of schools and hospitals in Burma. His family is a Gujarati Muslim, and they come from Kutch, an area of Gujarat in India.
Azim Premji graduated from Stanford University with a degree in Electrical Engineering. He’s one of the richest people in India.
Career
In 1966 when Premji had just turned 22, his father passed away. He took his father’s company, W.B. & T. Premji, and led the company to become a world leader in the textile industry. Premji had to cut short his education at Stanford to help his father. He returned home to run the company.
In Amalner, there was not much scope for business. Wipro, being a large company, decided to start a business there. The business plan, which involved manufacturing of Sunflower Vanaspati, failed and the business shut down in a few years. The employees were not paid for those years, the bank was not paid for those years.
Premji also diversified its offerings when it started to make products like toiletries, hydraulic cylinders, hair care soaps but also started selling toiletries made from locally available ingredients like cocoa butter, honey, almonds and the like.
He changed his company’s name to Wipro and started to make microcomputers to gain entry into the sector for high technology products.
He also started building personal computers as their sales were slow.
He created a new company and started to make personal computers.
He wanted to be a major player in the IT sector.
He came across a company called Sentinel Computer Corporation. And they were developing a very powerful software called a Computer Aided Dispatching System (CAD) and that was their business card.
At the end of July, Azim Premji’s net worth is $4.5 Billion.
There are many more examples and we could keep adding to it.
Highlights
The CEO here is Azim Premji, he has been in the Indian business for many years and he has been a very successful businessman.
Favorite Quotes From Azim Premji
At India’s third-biggest private company, the chairman of the 3-billion-dollar Infosys says the global attention that he has received on his wealth has instead encouraged fellow CEOs to emulate him.
“When you integrate with your neighbours, you stop wearing an ethnic costume. You start calling yourself French, Canadian or Indian. The issue is that we are still Indians in North America; we are still here.” – Azim Premji
But if we take a look at some other quotes, we can see that Premji also feels the need to separate himself from Indianness in an attempt to distance himself from India.
If we want access to the other countries, we have to give them access to us. Protectionism is a very subtle argument, but it is very much there.
I think that wealth creates a sense of stewardship; it’s characteristic of the new generation which has created wealth to have some amount of responsibility for it.
3 Leadership Lessons From Azim Premji
How to build a net worth which can last an entrepreneur for a long time and a business for several generations.
1. Be Smart
While the world is coming to change, Mark Zuckerberg says we have to learn to change with the world. You have to have your early warning system, which then can prepare you for changes ahead.
2. Know Your Strength
Having one’s strengths and weaknesses clearly understood allows one to see where and how one might be able to improve oneself.
3. Stick To Your Values
He believes that one’s values form the core of the business because he firmly believes that business success eventually but inevitably follows if you stick to them.
He also has a quality of resilience, in the sense that he takes the stance of standing firm to his beliefs and doesn’t succumb against them for anything at any point in time.
Summary
Premji is also one of the richest people in India, which is in a way a contradiction. Premji is also a philanthropist and gives away large amounts of money to different charities. Premji has a net worth of $30 billion, and $30 billion is a lot of money.
Based on the latest info available, Premji’s net worth is estimated to be four and a half billion dollars.
Azim Premji is the richest Indian currently in the world, and holds a rank of 6th in the Forbes’ list of billionaires. He was listed with a net worth of $4.5 billion making himself to the richest Indian.