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Azim Premji Success Story - Bio, facts, Net Worth, Family, Age, Wife Name, Career, Income, Property, Decisions, Wipro, Struggle of his life.
Not every legend has a silver spoon in their mouth from birth. Yes, some people have difficult and trying circumstances from birth. Azim Premji is a legendary figure who transformed the meaning of success via his unwavering perseverance, hard work, dedication, and consistency. Thus, the main focus of this article will be on the life of one of the greatest Indian philanthropists, business magnate, and entrepreneur, Mr. Azim Premji. Wipro is an Indian multinational company that offers business process, IT, and consulting services.
Some highlights of his life:
- Childhood: On July 24, 1945, in Bombay, Azim Premji was born into a Muslim Gujrati family. His father, who was also a prosperous businessman and was referred to as the "rice king" of Burma, gave him the business mindset. As an Indian, I am extremely grateful to God that Muhammad Hashem Premji declined the invitation from "Muhammed Ali Jinnah," the country's founding father, to come to Pakistan.
- Mohd Premji, the father of Azim Premji, founded Western India Vegetable Products as his own business in Maharashtra. This company used to produce laundry soap and cooking oil under the brand name Sunflower Oil.
- Azim Premji attended Stanford University to study electrical engineering after finishing his education in Mumbai. When he received the call about his father's untimely demise, he was just 21 years old. He left his engineering course in the middle and returned to India to take over his father's business.
- Marriage Life: He is wed to Yasmeen Premji, and together they have two kids, Tariq and Rashid. At the moment, Rishad Premji leads the IT division of his father's company, Wipro, as chief strategy officer.
Azim Premji struggled throughout his life.
At a yearly meeting, an investor in the company once suggested that Premji should step down. The business of the corporation, according to him, is too advanced and intricate for a 21-year-old boy to manage. Prior to this meeting, Azim Premji's abilities were uncertain. However, he became more confident and assured himself following this occurrence. He made a self-promise to himself that he would stop at nothing to increase this cooperation.
He lacked experience in managing the business. He had terrible problems over the first few years. He used to spend most of his time in the plant to have a deeper understanding of how things worked and to learn more about business. He quickly grasped everything and began operating the business according to his own rules.
After Azim Premji assumed leadership of companies such as Electric items and Hydraulic Cylinders, among others, the company began producing a number of new items. Many excellent chances were lost when IBM left India in 1977. Azim Premji seized the chance, and his business began producing IT services, software, hardware, and other related items. The company was renamed Wipro by him. Wipro eventually began producing microcomputers. It also began providing software fixes.
In 1989, the business of Azim Premji merged with General Electric to form Wipro G Medical System, a company that produced medical imaging equipment. IT services quickly took center stage at Wipro. Later, they started producing goods for babies, such as baby soaps, and expanded the company’s product line by engaging in business process outsourcing (BPO). He used his unwavering work ethic, commitment, and well-defined goal to propel his company to become one of India’s largest. The business reached new heights because it put more of an emphasis on quality and client happiness than on quantity production.
As stated by Mr. Azim Premji, hard effort, honesty, and perseverance are essential for success in life. These are the things in life that we usually don’t pay attention to. Mr. Premji was well-known for his adept commercial and managerial abilities. The example provided below gives you a notion of his business acumen and management style. Some years back, workers at one of Wipro’s factories in Amalner used to complain about the excessive heat, claiming that it affected the company’s ability to manufacture products during the summer. During a scorching, dry summer, Mr. Premji traveled to Amalner and spent many months interacting with the manufacturing workers. Following this, there was a cessation in employee complaints and an increase in production.
As of 2020, Mr. Azim Premji is the sixth richest person in India as a result of his commercial success. In 2020, Azim Premji’s net worth was estimated to be $6.6 billion. Wipro is listed on a number of stock market indices, including the Nifty and Sensex. Mr. Azim Premji established a company called family wealth management, and with it he makes investments in both the stock market and companies that are listed in startups. Premji has put $1 million into HDFC Bank. In 2014, he made joint investments in Myntra. Later, Flipkart was acquired by Walmart, and Myntra merged with it. He made a $25 million investment on Myntra. He made a 500% profit on his Flipkart investment. With his other ventures, he made huge gains. Premji made investments in a wide range of publicly traded businesses, including Lenskart, Policy Bazaar, and others. His primary investments are made in stocks of publicly traded corporations.
It was difficult to run a large business for a one-year-old youngster. Azim Premji’s adaptability, leadership quality, and efficiency make him a successful leader and businessman. Following his father’s untimely death, he was forced to master all of these abilities and was destined to inherit all of them in order to succeed alongside his father’s business.
This is the most significant accomplishment he has received in his entire life. We must all learn from Azim Premji how to face an issue and overcome it by solving it. He began to drive Wipro more into the computer business after founding the company. During the 1980s, his company formed a number of successful foreign partnerships to assist in the development of computer software for India.
Azim is the first Indian to receive the Faraday Medal aside from this. Honorary degrees were bestowed upon him by Michigan State University, Wesleyan University, and the Indian Institutes of Technology at Bombay, Roorkee, and Kharagpur. Azim Premji has received a number of prestigious honors and accolades. The Republic of France bestowed upon him the highest civilian honor, Knight of the Legion of Honor.
Wipro rose to prominence in the software industry under Azim Premji’s direction. On November 10, 2020, Premji topped the list of “India’s most generous.” He serves as an inspiration to many business owners worldwide. According to Premji, if you are wealthy, you should give to the less fortunate members of our community. The primary objective of his foundation is to educate the kids residing in rural India. He can serve as an inspiration to people everywhere, encouraging them to contribute to charitable initiatives. Giving back makes us feel better about ourselves and contributes to society at large.
