Reliance Chairman Mukesh Ambani draws nil salary for 4th yr in a row

Asia's richest man Mukesh Ambani drew nil salary from his oil-to-telecom-and-retail conglomerate Reliance Industries for the fourth straight year in a row while his children earned a sitting fee and a commission for being on the board of India's most valuable company.

Ambani, 67, had capped his annual remuneration at Rs 15 crore from financial year 2008-09 (April 2008 to March 2009) to 2019-20 (FY20); and since FY21, he opted to forego his salary, due to COVID-19 pandemic, until the company and all its businesses were fully back to their earnings potential.

In 2023-24, he got 'nil' as salary, allowances, and perquisites as well as retiral benefits, according to the latest annual report of the company.

Ambani, who has been on the board of Reliance since 1977 and was elevated as chairman of the company after the death of his father and group patriarch Dhiburhai Ambani in July 2002, was just last year re-appointed as the head of Reliance for another five-year term till April 2029 - a .