At first glance, you’d expect the wealthiest family in Asia to be drawing astronomical salaries from their business empire. After all, the Ambani's—Mukesh, Nita, and their children Isha, Akash, and Anant—are at the wheel of Reliance Industries Limited, one of India’s largest conglomerates. But the truth is quite the opposite. The total earnings they took home for the fiscal year 2024 might leave you questioning the conventional wisdom of wealth.
Mukesh Ambani, the chairman and managing director of Reliance Industries, hasn't drawn a single rupee as salary from the company for four consecutive years. This decision, which first took shape in the fiscal year 2020-2021 amidst the COVID-19 pandemic, was driven by his desire to help the company regain financial stability during turbulent times. It has continued through the years 2021-2022, 2022-2023, and now, 2023-2024. For over three years, Ambani has dropped all allowances, perquisites, retiral benefits, commissions, and stock options—an unusual move for a man who controls one of the world’s most powerful business entities.
Nita Ambani, who served as a non-executive director on the company’s board until August 28, 2023, also kept her earnings modest. For her role in FY2024, she received a sitting fee of Rs 2 lakh and a commission of Rs 97 lakh—figures that stand in stark contrast to the wealth her family commands.
Mukesh and Nita’s children, who joined the Reliance board in October 2023, followed suit. Akash, Isha, and Anant Ambani, despite being groomed as the next generation of leaders for the Reliance empire, earned only a sitting fee of Rs 4 lakh and a commission of Rs 97 lakh each. None of the siblings received a fixed salary, highlighting the family's commitment to a philosophy that values corporate responsibility over personal gain.
Reliance Industries, with its extensive portfolio spanning petrochemicals, telecommunications, retail, and more, continues to be a global giant. Yet, the Ambani's’ financial choices reflect a surprising humility, particularly in an era where corporate leaders are often criticised for excessive compensation. With a net worth of $113.5 billion, the Ambani family's restraint in drawing salaries underscores a narrative of responsible leadership—one that perhaps holds lessons for corporate giants worldwide.
