Premji owns 78 percent of Bangalore-based Wipro, India's third-largest software exporter. His technology company employs more than 100,000 people and has annual revenue of more than $7.7 billion. He also owns a private equity fund, PremjiInvest—which manages his $1 billion personal portfolio—and stakes in JM Financial and Himatsingka Seide.
Flipkart, India’s largest online retailer, will buy competitor Myntra.com, according to people with knowledge of the talks, to gain a business with higher margins and boost competitiveness against Amazon.com Inc.
Azim Premji, chairman of Wipro Ltd., India’s third-largest software-services provider, has invested $15 million in billionaire Vinod Khosla’s clean-tech fund for his first overseas investment, the Economic Times reported, citing people it didn’t identify.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
Wipro Ltd., the Indian software-to- soaps company controlled by billionaire Azim Premji, said Chinese demand for cosmetics containing bird’s nest extracts will help its consumer unit counter slowing growth at home.