Asia’s richest person Mukesh Ambani, who is also the Chairman and Managing Director of Reliance Industries Limited, has taken home zero salary from his company for the fourth straight year, as stated in the latest annual report of the company. On the other hand, Mukesh Ambani’s wife Nita Ambani and their children Akash Ambani, Isha Ambani, and Anant Ambani earned a sitting fee and a commission for being on the company board in the last fiscal year.
It may be recalled that Mukesh Ambani decided to limit his annual compensation to Rs 15 crore in 2008-09 and took the same compensation next year too. In 2020-21 when Covid-19 hit the world, Mukesh Ambani decided that he will receive nil salary until Reliance and other companies headed by him regain good financial position. In 2023-24, Mukesh Ambani’s salary was listed as ‘nil.
Nita Ambani was the non-executive director on Reliance’s board until August 28, 2023 and she was paid a sitting fee of Rs 2 lakh and a commission of Rs 97 lakh for her services during the year 2023-24.
Mukesh Ambani and Nita Ambani’s children – Isha Ambani, Akash Ambani and Anant Ambani were made Reliance board member in October 2023 but they were not given any salary. Isha Ambani, Akash and Anant Ambani each received a sitting fee of Rs 4 lakh and were paid a commission of Rs 97 lakh. So we can say that no member of Ambani family received any salary from Reliance in last year.
Mukesh Ambani became Reliance chairman after the death of Dhirubhai Ambani in July 2002. Notably, Ambani family owns 332.27 crore shares or 50.33 per cent stake in Reliance.
Mukesh Ambani’s cousins Nikhil Meswani and Hital Meswani’s remuneration jumped to Rs 25.31 crore and Rs 25.42 crore respectively in 2023-24. The remuneration for Meswani brothers was Rs 25 crore each in FY23.
