Did You Know Mukesh Ambani Took No Salary For 4Th Year In A Row? Check His Previous Income, Net Worth And More
(MENAFN- AsiaNet News) Salary is a significant portion of one's income. In our daily lives, we often calculate individual's income by their salaries. However, did you realise that this isn't always the case with billionaires? Mukesh Ambani, who is ranked as the 11th richest person in Asia, did not receive a salary for the fourth year in a row.
The most recent annual report from Reliance Industries states that the chairman did not receive a remuneration for the current fiscal year either. Since the COVID-19 epidemic began in the fiscal year 2020–21, Ambani, 67, has made the decision to forgo his pay until Reliance's enterprises have fully recovered their revenue potential.
What was the previous salary of Mukesh Ambani?
Ambani had fixed his yearly compensation at Rs 15 crore for the period April 2008 to March 2020, however he chose to forgo receiving a salary beginning in FY21. He did not receive any pay, allowances, perks, or retirement benefits during the fiscal year 2023–2024.
Mukesh Ambani's stake in Reliance
With 50.33 per cent of Reliance's shares owned by him and his family, they would have been entitled to Rs 3,322.7 crore in dividends for the 2023–24 fiscal year, assuming a declared dividend of Rs 10 per share.
Ambani has been with Reliance since 1977 and became the chairman after his father, Dhirubhai Ambani, passed away in 2002. Last year, he was reappointed as the head of Reliance for another five years, a period during which he will not draw a salary.
Security expenses
Reliance will support Ambani and his family financially even if he does not get a salary; these costs are not considered perquisites.
Mukesh Ambani, with a net worth of $109 billion, is the 11th richest person in the world.
Nita Ambani, the spouse of Ambani, received a commission of Rs 97 lakh along with a sitting fee of Rs 2 lakh while serving as a non-executive director till August 28, 2023. Isha, Akash, and Anant, his three children, were named to the board in October of last year. A sitting fee of Rs 4 lakh and an annual commission of Rs 97 lakh were given to each.
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