Imagine being Asia's richest man and choosing to take zero salary. That's Mukesh Ambani for you, doing it for the fourth year in a row!
At 67, Ambani continues to forgo his salary, allowances, and benefits for the fiscal year 2023-24 while leading Reliance Industries, India’s most valuable company. His last salary was capped at 15 crore rupees annually from 2008 to 2020.
The decision to forgo his salary began in 2020 as a response to the COVID-19 pandemic, showing support for the company and its employees during challenging times.
His children, however, receive a sitting fee and commission for their roles on the board. Ambani, who has been on the board of Reliance since 1977 and was elevated as chairman of the company after the death of his father and group patriarch Dhiburhai Ambani in July 2002, was just last year re-appointed as the head of Reliance for another five-year term till April 2029 - a period during which he opted to draw nil salary.
Mukesh Ambani has also opted out of all allowances, benefits, and stock options, setting an example of moderation in executive compensation.
With a net worth of 109 billion dollars, Ambani is the 11th richest person in the world.