Thread by @chandrarsrikant

On December 29th, 1945, Muhamed Husein Hasham Premji, registered Western India Vegetable Products Limited after buying an oil mill in Amalner, Maharashtra. His son, Azim Premji would go on to build a diversified conglomerate worth billions, and give most of it away 🧵

https://twitter.com/ETNOWlive/status/1343740110756429824

Few would have imagined that a company that made vegetable and refined oils would go on to become a conglomerate that today houses a listed software giant, Wipro and an unlisted Wipro Enterprises- which has its consumer care, infrastructure engineering and medical equipment biz

21-year old Azim Premji returned to India in 1966 after his father's sudden demise, to take charge .Premji diversified the company to hydraulics, soaps and lighting. He spotted the IT opportunity in the late 70s and 80s, and forayed into making computers after IBM exited India.

Western Indian Vegetable Products Limited became Wipro, with a focus on software and technology. A $2 million hydrogenated cooking fat business today earns revenue of over $8 Billion from IT services, while Wipro Enterprises has revenues of close to $2 Billion.

"What inspired me was just ambition to be better than what we were doing in the past and to grow much faster. Hard work and a lot of luck- two major things helped in my success. The only way to have sustained success is to keep competing with yourself" Azim Premji a few yrs ago

Premji, famously frugal in his personal life, is India's most generous billionaire. Till date, he has made a total commitment of $21 Bn, making it one of the largest private endowments in the world. He believes the wealthy must remain 'trustees' of wealth for society, not owners.

In 2001, Premji established the Azim Premji Foundation, which has been training government school teachers in various parts of India in an effort to improve learning outcomes. Azim Premji Philanthropic Initiatives supports not-for-profits, through financial grants.

Truth & Integrity- the 2 values that Premji cherishes the most. He recently said, "Truth and integrity are the foundation of everything. In the absence of integrity everything falls apart. From 1966, ever since I took over Wipro, I have tried to practice this. It is not easy."

Azim Premji stepped down as chairman of @Wipro last year, though he continues as Founder Chairman. His elder son, @RishadPremji took over as chairman. Wipro also has a new CEO - Paris-based Thierry Delaporte, tasked with turning around Wipro's fortunes.

Even as Wipro charts a turnaround story, its biggest legacy on its 75th anniversary is its indelible mark as a torchbearer of integrity, ethics, and societal impact, long before ESG (environmental, social and governance) became a buzzword globally. #WiproTurns75