Mukesh Ambani Drops Rs 24 Crore from His Annual Income

Image courtesy: BCCL

Wonder what India's richest man does with all the money he makes annually? Well, for starters we know that billionaire Mukesh Ambani has decided to drop almost Rs 24 crore from his annual pay last fiscal as chief of Reliance Industries Ltd (RIL), keeping his salary stumped at a mere Rs 15 crore for the fourth year in a row.

From what we know, Ambani's salary has stayed constant at Rs 15 crore since the fiscal 2008-09. According to a PTI report, in the latest RIL annual report for the year 2011-12, it said that Ambani's total pay package stood at Rs 15 crore, as against the Rs 38.82 crore that he is eligible for.

Ambani's Pay Package Deals

While breaking down Ambani's pay package, RIL said that his "compensation has been set at Rs 15 crore as against Rs 38.82 crore that he is eligible as per the shareholders' approval".

Also in the fiscal 2010-11 also, we heard that Ambani was eligible for a pay package of Rs 38.75 crore, but he took home only Rs 15 crore.

As the chairman and managing director, Ambani's total package for 2011-12 includes Rs 4.16 crore as salary, Rs 60 lakh as perquisites and allowances, Rs 78 lakh as retiral benefits and Rs 9.46 crore as commission.

Reliance's Highest Paid Execs

But Ambani is not the only guy from RIL taking home a big fat pay. While Ambani was RIL's top-paid executive in 2011-12, he was followed by directors Nikhil Meswani and Hital Meswani with total remuneration of Rs 10.99 crore each, PMS Prasad (Rs 5 crore) and Pawan Kumar Kapil (Rs 1.99 crore).