Mukesh Ambani Salary Cut

Mukesh Ambani Salary Cut

Mukesh Ambani, chairman and MD of Reliance Industries Ltd has voluntarily reduced his overall compensation for 2008-09 by 66% to Rs15 crore.

Last year (2007-08), Mukesh Ambani has taken Rs.44 Crore of salary. But in the Financial year 2008-09, he will receive 66% less salary. He will only receive Rs. 15 Crore as a salary of 2008-09. This is almost two0thirds of Salary Cut.

As a result of scaling down of his package from over Rs 44 crore in 2007-08 to Rs 15 crore, Mukesh Ambani would get a lot less than many other industrialists and executives heading companies with a size less than one-tenth of RIL.

See How Mukesh Ambani taken salary of Rs.44 Crore in Fiscal 2007-08.

Mukesh Ambani receives less than 1% of his Total wealth as a salary from his great Fortune 500 Company, Reliance Industries (RIL). Great Promoters like Mukesh Ambani take very less salaries from their companies. This is because they believe in Growth of the Business rather than taking fat salaries from their publicly listed Businesses.