Mukesh Ambani, chairman of Reliance Industries, has opted to attract no wage for the fifth consecutive yr, as detailed within the firm’s newest annual report. Ambani, who is without doubt one of the world’s richest people with an estimated internet value slightly below $100 billion, depends totally on dividend revenue from his intensive shareholding in Reliance Industries as his primary supply of earnings.
Ever because the onset of the COVID-19 pandemic in 2020, Ambani has voluntarily chosen to forgo his wage, allowances, and perquisites. His determination was initially motivated by the financial challenges posed by the pandemic, and he continues to take care of this stance as the corporate works to maximise its earnings potential absolutely.
Ambani’s monetary reliance on dividends was highlighted as he straight holds 1.61 crore shares in Reliance, leading to a dividend revenue of ₹8.85 crore on the declared price of ₹5.50 per share for the fiscal yr 2024-25. Moreover, the promoter group companies he controls possess a majority stake within the firm, which interprets to a considerable dividend revenue of ₹3,655 crore.
Earlier than choosing a zero wage, Ambani had capped his annual remuneration at ₹15 crore from the monetary yr 2008-09 as much as 2019-20, setting an instance of moderation in govt compensation. This transfer was a part of his broader technique to align with the corporate’s progress and societal welfare.
In distinction, Ambani’s kids, Isha, Akash, and Anant, appointed to the Reliance board in 2023, acquired nominal sitting charges and commissions. Anant, the youngest, has since been appointed as an govt director, with a brand new wage vary between ₹10 crore and ₹20 crore for this fiscal yr.
Different members of the board, together with unbiased administrators, acquired constant compensation with earlier years, sustaining a fee of ₹2.25 crore alongside sitting charges. This displays Reliance’s structured strategy to board member remuneration amidst broader strategic changes.
The remuneration packages of Ambani’s cousins, Nikhil and Hital Meswani, noticed a slight decline, whereas Government Director P M S Prasad loved a rise in his earnings, attributed to performance-linked incentives. These adjustments illustrate the corporate’s versatile but performance-driven compensation technique.
Ambani’s determination to proceed with out wage underscores a dedication to steering the corporate by sustained progress and stability. As Reliance navigates advanced market dynamics, the chairman’s actions resonate along with his longstanding strategy to balancing management duty with monetary prudence.
