Mukesh Ambani, Chairman and Managing Director of Reliance Industries
Reuters
Chairman and Managing Director of Reliance Industries, Mukesh Ambani has decided to forego his entire salary in 2024.
This is the fourth consecutive year that Mukesh has announced the decision to not draw any remuneration from his company. He first took this step during the Covid pandemic in 2020.
According to a report by the Times of India, the details of the annual report of the Reliance Industries suggest that though Mukesh didn't take his salary, the top executives at his company did receive their full wages.
Nikhil and Hital Meswani, Mukesh's cousins, along with Executive Director P M S Prasad, also received a raise.
According to TOI, remunerations of Nikhil and Hital rose to Rs 25.31 crore and Rs 25.42 crore in 2024 from Rs 25 crore in 2023.
Prasad's remuneration was raised to Rs 17.93 crore.
Mukesh's wife Nita Ambani also received Rs 2 lakh as sitting fee and also earned a commission of Rs 97 lakh in 2023.
According to the publication's report, the couple's children - Isha, Akash and Anant Ambani received Rs 4 lakh each as sitting fee and Rs 97 lakh as commission.
All the other independent directors in the company received a commission worth Rs 2.25 crore, up from Rs 2 crore in 2023.
Mukesh on August 7 had said that Reliance Industries Ltd has consolidated its balance sheet after the previous round of capex and is ready for the next level of growth.
Mukesh said the launch of Jio 4G mobile telephony services in 2016 "turned a data dark India into a data rich nation, supplying every Indian home with affordable, high-speed 4G data".
"Reliance has consolidated its balance sheet after the previous round of capex and is ready for the next level of growth," he then added.
Also, after the star-studded, pre-wedding celebrations (that stretched out over four months), Anant married Radhika Merchant on July 12 in Mumbai - one of the biggest weddings, globally, in recent times.