Mukesh Ambani is one of the world’s richest men. As the chairman of Reliance Industries, India’s one of biggest conglomerates, Ambani has played a significant role in putting India on the world’s business map and has made unimaginable advancements in the world of business.
The Ambanis are known for their ridiculous amount of wealth, their opulent lifestyle and larger-than-life celebrations. With a net worth of $96. 4 billion, as per Forbes, 2023, the business tycoon is the ninth-wealthiest man on the planet and has held the position of being the first or second in the country. An Indian would require almost 1.74 crore years to be as wealthy as Mukesh Ambani
How much does the Reliance head take home?
The 66-year-old billionaire has asked the company’s shareholders for permission to extend his current five-year term as chairman and managing director of the business until 2029. During this time, he has chosen to forgo any compensation. Yes! Ambani will be drawing nil salary during this tenure, as The Economic Times reports.
Ambani limited his annual compensation to Rs 15 crore from the financial year 2008-09 to FY20; and since FY21, he chose to forgo his salary. During the COVID-19 outbreak in India, which had a severe impact on the country’s societal, economic, and industrial health, he voluntarily opted to forgo his pay for the years 2020–2021. In addition to 2021–2022, he continued to forgo his pay in 2022–2023, as per The Hindu reports.
As Chairman and Managing Director of Reliance throughout these three years, Ambani did not receive any compensation from the company in the form of allowances, perks, retirement benefits, commissions, or stock options, as per reports.
Prior to that, in order to set an example of moderation in executive compensation levels, the Chairman and Managing Director’s salary was restricted to Rs 15 crore starting in 2008-09. The pay of Rs 15 crores in 2019–20 was the same as it was in the prior 11 years, The Hindu reports.
Reliance Executive Directors and Nita Ambani’s salary
PMS Prasad and Pawan Kumar Kapil, executive directors, witnessed an increase in compensation. Prasad earned Rs 13.50 crore in 2022–23, which included performance-related bonuses for 2021–22 that were given in 2022–23. He received Rs 11.89 crore in 2021–2022. In comparison to 2021–2022, Kapil received Rs 4.40 crore, an increase. On May 15, 2023, his five-year tenure came to an end, and he no longer serves as a director of the corporation, according to The Hindu.
Nita Ambani, Mukesh Ambani’s wife, was paid a sitting fee of Rs 6 lakh rupees and a commission of Rs 2 crore rupees for the fiscal year 2022-23. In 2020–2021, she received a sitting fee of Rs 8 lakh and a commission of Rs 1.65 crore, The Economic Times reports.
Mukesh Ambani is the chairman and CEO of Reliance Industries
The wealth of the Ambanis is reflected in their uber-rich lifestyle, luxurious possessions, and massive real estate portfolio. From swanky cars, to the most luxurious property in India, the stunning Antilia 27-storey tower, located in Mumbai, is among his most recognisable assets. It is recognised as one of the priciest private homes in the entire world and is worth a whopping, Rs 15,000 crores, as per Magicbricks. Beyond Antilia, Ambani has invested in opulent residences all over the world.
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