The Lux List / Billionaires

India’s richest man takes pay cut

India’s richest man took a 66 percent pay cut to “set a personal example of moderation” after India’s government called for austerity in salaries of executives Mukesh Ambani, the head of Reliance Industries, said he would cap his pay at 150m rupees ($3.3m) this year. He received 440m rupees in 2008. With a net worth […]

Oct 19, 2009 | By Anakin

India’s richest man took a 66 percent pay cut to “set a personal example of moderation” after India’s government called for austerity in salaries of executives

Mukesh Ambani, the head of Reliance Industries, said he would cap his pay at 150m rupees ($3.3m) this year. He received 440m rupees in 2008.

With a net worth of $19.5 billion, Mukesh Ambani has been ranked seventh in the global list, topped by Microsoft founder Bill Gates ($40 billion).

Mukesh, who has lost more than $23 billion, was ranked at fifth position last year.

Source: BBC

Mukesh Ambani


 
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