Azim Premji set up the Foundation in 2001. Over the past years, he has irrevocably donated most of his wealth for philanthropic purposes and created a philanthropic endowment valued (as of Jan 2023) at approximately USD 29 billion (INR 2,40,000 crore) to fund the work of the Foundation. As part of this endowment, along with other assets, 66 percent of the economic ownership of Wipro Ltd is with the Foundation.