Reliance Boss Mukesh Ambani Forgoes Salary for 4th Year
Reliance Industries, the country’s most valuable company, has released its annual report revealing that its chairman, Mukesh Ambani, has not taken a salary for the past four consecutive years. The 67-year-old business tycoon relinquished his salary in 2020-21 due to the COVID-19 pandemic and has not received any compensation since.
Despite his selflessness, Ambani’s close relatives, Nikhil and Hital Meswani, received salaries of Rs 25.31 crore and Rs 25.42 crore respectively in the most recent financial year. Their compensation included a commission of Rs 17.28 crore. Hital Meswani emerged as the highest-paid individual in Reliance.
The Meswani family has played a pivotal role in Reliance’s success. Rasiklal Meswani, the father of Nikhil and Hital, was the son of Reliance founder Dhirubhai Ambani’s elder sister. Mukesh Ambani himself credited Rasikbhai as his first boss, stating that he was instrumental in guiding him when he first joined Reliance.
Reliance’s annual report also revealed that the company’s contributions to the government treasury exceeded the annual budget of the state of Haryana. This further underscores Reliance’s significant economic impact on the nation.
Profile of Hital Meswani:
Hital Meswani, the highest-paid individual at Reliance, has been working with the company since 1990 and has been on the board since 1995. He has played a crucial role in numerous major projects, including Hazira Petrochemicals and Jamnagar Refinery Complex. His expertise and leadership have been instrumental in Reliance’s growth and success.