Billionaire Mukesh Ambani sticks to Covid habit of not taking any salary from RIL
Mukesh Ambani, who had voluntarily decided to forego his salary from Reliance Industries (RIL) during the peak of the Covid crisis in 2020, continues to draw no salary from the conglomerate for the fourth year in a row.
RIL's latest annual report shows that Ambani did not take any salary from the company in his capacity as the Chairman and Managing Director.
In June 2020, Ambani voluntarily decided to forego his entire remuneration including salary, allowances, perquisites, retiral benefits as well as any commissions for the year 2020-21 in light of the COVID-19 outbreak in India, which exacted a huge toll on the societal, economic and industrial health of the nation.
He continued to forgo his entire remuneration in 2021-22, 2022-23, and now in 2023-24 as well.
Before that, Ambani had his remuneration capped at Rs 15 crore since 2008-09 to set a personal example of moderation in managerial compensation levels.
Put together, the Ambani family owns over 50% stake in India's most valued company and the only one to have crossed the Rs 20 lakh crore in market capitalization.
The 61-year-old business tycoon's net worth is estimated to be about $109 billion and is the 11th richest person in the world, behind the likes of Warren Buffett, Google cofounders Sergey Brin, and Larry Page.
Having consolidated its balance sheet after the previous round of capital expenditure, RIL is now ready for the next level of growth. «Our constant endeavor to find solutions for India and Indians has helped us spot multiple growth
