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.
Wipro Ltd. slumped in Mumbai trading, poised for its biggest drop in six months, after the software exporter posted sales growth that trailed that of larger rivals Tata Consultancy Services Ltd. and Infosys Ltd.
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.
Prospects for better economic growth in the U.S. and Europe are prompting analysts to raise their ratings for Indian software stocks, signaling a 31 percent rally in an industry index this year will continue.
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.