Meet Indian man with ZERO salary, who never sells his shares, still lives lavish life
This man has voluntarily forgone his salary since the Covid-19 crisis, relying on dividends and investments for income while leading his company.
Meet the man who is not only the richest tycoon in Asia but also among the wealthiest individuals globally. He has built an empire that spans across various industries, from telecommunications to retail, and his business acumen has earned him a top spot on the world stage. Known for his strategic thinking, innovation, and leadership, he has led his company through challenging times, including global crises. Yet, despite being at the helm of one of the largest corporations in the world, this man made a surprising decision during the Covid-19 pandemic, a decision that reflected his commitment to his company and its employees. This man is none other than Mukesh Ambani, the Chairman and Managing Director of Reliance Industries.
Mukesh Ambani, who ranks 11th on the list of worldwide billionaires, made headlines when he voluntarily decided to forgo his salary. As the Covid-19 pandemic swept across the globe, Ambani announced that he would no longer accept any form of remuneration, a decision he has stuck to since the fiscal year of 2020-21. His salary for that year was marked as nil, and he hasn’t taken any payments since, even though his regular salary before the pandemic was a substantial Rs 15 crores per year until 2019.
The big question that many have asked is how Mukesh Ambani manages his financial commitments without taking a salary or selling any of his shares. While it may seem surprising, the answer lies in his other sources of income. One of the primary ways Ambani earns is through the dividends he receives from his substantial shareholding in Reliance Industries. With his family holding about 50.39% of the company, the dividends paid by Reliance provide a significant income stream.
In addition to dividends, Ambani’s wealth is also boosted by profits from his other ventures, such as the Indian Premier League (IPL) team, the Mumbai Indians, which he owns. Furthermore, he has personal investments that contribute to his income, ensuring that he maintains his financial stability without needing to liquidate shares or draw a salary.
When it comes to shareholding within the Ambani family, Mukesh’s mother, Kokilaben Ambani, holds the largest individual stake, with 0.24% of the company, amounting to 1.6 million shares. Mukesh himself, along with his wife Nita Ambani and their children Akash, Isha, and Anant, each hold 0.12% of Reliance’s shares, which translates to approximately 800,000 shares per family member. The dividends paid on these shares, typically ranging from Rs 6.30 to Rs 10 per share, form a steady income for the Ambani family.
Since the start of the pandemic, Mukesh Ambani has set an example of leadership and solidarity by choosing not to take any salary until Reliance Industries is back at its full capacity. According to the company’s latest annual report for 2023-24, Ambani has also foregone benefits, perks, and pension contributions, demonstrating his selfless commitment to the company and its employees during these challenging times.
In essence, while Mukesh Ambani may not draw a salary, his wealth remains intact through his strategic investments, dividends, and ownership of successful ventures like the Mumbai Indians. His leadership, both in business and through his actions during the Covid crisis, continues to inspire many.
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