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

Asia’s richest person Mukesh Ambani, who is also the Chairman and Managing Director of Reliance Industries Limited, has taken home zero salary from his company for the fourth straight year, as stated in the latest annual report of the company. On the other hand, Mukesh Ambani’s wife Nita Ambani and their children Akash Ambani, Isha Ambani, and Anant Ambani  earned a sitting fee and a commission for being on the company board in the last fiscal year.

It may be recalled that Mukesh Ambani decided to limit his annual compensation to Rs 15 crore in 2008-09 and took the same compensation next year too. In 2020-21 when Covid-19 hit the world, Mukesh Ambani decided that he will receive nil salary until Reliance and other companies headed by him regain good financial position. In 2023-24, Mukesh Ambani’s salary was listed as ‘nil.

Nita Ambani was the non-executive director on Reliance’s board until August 28, 2023 and she was paid a sitting fee of Rs 2 lakh and a commission of Rs 97 lakh for her services during the year 2023-24.