The philanthropy mirage

Mr Premji's bequest conceals a dismaying picture

Wipro founder Azim Premji’s $21-billion bequest to his education-oriented trust has certainly raised the bar as far as Indian philanthropy is concerned. The latest bequest, in the form of donated earnings from 34 per cent of shares in Wipro, India’s fourth-largest software services firm, represents the fourth transfer of wealth by Mr Premji — after 2001, 2010 and 2013. With this, the reclusive billionaire, who has consistently stayed in the upper reaches of India’s rich lists, has committed 67 per cent of Wipro’s shares to his charitable foundation (out of 74.3 per cent that family-controlled entities own). It also places