Mukesh Ambani, the richest Indian with a net worth of $40.1 billion, has not taken a pay hike for the 10th year in a row. The Reliance Industries chairman had capped his salary in October 2009 and it remains unchanged.
So what is Mukesh's annual salary? According to the companies' annual report, Mukesh's compensation has been set at Rs 15 crore. This decision shows his desire to continue to set a personal example. While Mukesh's package remains the same, other directors and key managerial personnel got a pay hike of around 13 percent.
"Compensation of Shri Mukesh D. Ambani, Chairman, and Managing Director, has been set at Rs 15 crore, reflecting his desire to continue to set a personal example for moderation in managerial compensation levels," the annual report said.
His salary package includes the salary of Rs 4.49 crore, perquisites, and allowance of Rs 27 lakh, retiral benefits of Rs 71 lakh and commission payable of Rs 9.53 crore.
Mukesh's cousins Nikhil and Hital's compensation increased to Rs 19.99 crore each from their Rs 16.58 crore package in 2016-2017, while one of his key executives' director PMS Prasad's compensation increased from Rs 7.87 crore in 2016-17 to Rs 8.99 crore this year.
Mukesh's wife Nita Ambani, a non-executive director on the company's board, also received a revised commission of Rs 1.5 crore this year from last year's Rs 1.3 crore.
Recently, when Forbes released a list of world's billionaires, as many as 119 Indians featured in the list and Mukesh Ambani topped the list with a net worth of $40.1 billion. His net worth went up from last year's $38 billion.
He retained his position as the richest person and made it in the top 20 list of world's billionaires of 2018.