Charitable trusts grow richer on dividends, share sales, buybacks
New Delhi, March 22 -- Billionaire Azim Premji's two philanthropic trusts earned '11,357 crore ($1.65 billion) over the past nine years by way of dividends, share sales and buybacks, becoming one of the richest and largest charitable trusts in India. The earnings of the two trusts-Azim Premji Philanthropic Initiatives Pvt. Ltd or APPI (earlier called Azim Premji Foundation) and Azim Premji Trusts or APT-go into the Azim Premji Endowment Fund. The fund, which releases money for all philanthropic work done by the two trusts, is now valued at '1.45 trillion or $21 billion, making it one of the largest private endowments in the world. Between March 2010 and March 2018, the fund received '2,100 crore in dividends from Wipro Ltd, according to Min...
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