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Meet man, an Indian, who used to get Rs 50 as stipend, now gets Rs 15 crore salary, he is CEO of...
Shah's mother was a major influence in his upbringing, instilling in him the values of perseverance, modesty, and diligence.
Updated : Jul 30, 2024, 03:45 PM IST
 "Meet man, an Indian, who used to get Rs 50 as stipend, now gets Rs 15 crore salary, he is CEO of...")
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The life story of Kotak Mutual Fund's MD and CEO, Nilesh Shah, exemplifies fortitude and the transformational potential of education. Shah talked about his experiences growing up in the Mumbai chawls of Kalbadevi, where he endured many hardships, in a podcast with Kushal Lodha. When Nilesh was very small, his father, a mill worker, died. Notwithstanding these obstacles, Shah's school principal saw his potential and made sure his education went on by offering to cover his fees as long as he stayed a top student.
Shah's mother was a major influence in his upbringing, instilling in him the values of perseverance, modesty, and diligence. The family frequently faced hardships while residing in a 250 square foot room, but his mother's unwavering support and communal support. She made him believe that education is the only way to handle difficult situations.
Shah made a calculated decision to pursue Chartered Accountancy (CA) rather than an MBA because he needed to support himself while he was in school. He started an articleship at a firm and was paid Rs. 50, which his mentor Praful Bhai later increased to Rs. 250. Shah was able to concentrate on his studies thanks to the financial support, and he eventually achieved All India Rank One in the CA finals.
Shah has demonstrated a resolute dedication to managing trust rather than just money throughout his career. He highlights how important it is for investors to have faith in him and the Kotak brand. He feels that money follows the destruction of trust. His approach to fund management, where safeguarding the interests of investors is his first concern, is based on this philosophy.
The life of Nilesh Shah is proof of the value of learning, perseverance, and modesty. His journey inspires many, from the chawls of Kalbadevi to managing Rs. 4 lakh crores. Shah reportedly receives an annual salary of Rs 15.78 crore, according to media reports. He keeps arguing that education is essential for success and overcoming hardship, stressing the importance of every effort no matter how small.
