An Indian fintech company, CRED Chief Executive Officer (CEO) Kunal Shah took to Instagram to hold an ‘Ask Me Anything’ session.
In the ‘Ask Me Anything’ session, Kunal Shah revealed his monthly salary. He stated that his salary is Rs 15,000 per month and he also provides a reason for it.
Kunal Shah wrote on Instagram, “I don’t believe I should get a good salary till the company is profitable. My salary at CRED is Rs 15,000 per month and I can survive as I sold my company FreeCharge in the past.”
A Twitter user Ajeet Patel shared the post, “There are CEOs who take salaries in crores then we have Kunal Shah.”
There are CEOs who take salaries in crores then we have Kunal Shah. 💖 pic.twitter.com/aahaDJmdAm— Ajeet Patel | Leetcode ⚡ (@Iampatelajeet) February 26, 2023
In response, Anish De another twitter user wrote, “Bro what are you talking about most of his startups are loss making and burning investor’s money he should take 0 salary and focus on making the startups profitable rather than making bonfire the fundings that he gets.”
“Being humble and flexing in the same sentence. His words always poke me to be curious,” a user commented.
“Bro, it’s called tax saving, He definitely spending millions on his lifestyle,” another user said.
However, Kunal Shah wrote on Twitter, “People are asking me to take more salary but guys don’t you remember I sold my previous startup freecharge to Snapdeal for 3000 crores. So I don’t need to take salaries like otger highly paid CEOs.”
People are asking me to take more salary but guys don’t you remember I sold my previous startup freecharge to Snapdeal for 3000 crores. So I don’t need to take salaries like otger highly paid CEOs.https://t.co/V8N9UTkI95— Not Kunal Shah (@IamNotKunalShah) February 27, 2023
Other tech giants’ CEOs’ salary package
Meta CEO Mark Zuckerberg reportedly takes home USD 12 billion per year. Google CEO Sundar Pichai reportedly earns USD 242 million per year. The current salary of Apple’s Chief Executive Officer (CEO) is USD 49 million (Rs 3,98,75,71,000) in 2023. Goldman Sachs Group Chief Executive Officer David Solomon’s compensation was $25 million for 2022.
However, the CEO instead of taking a lower package companies are laying off employees. So far in 2023, there have been 550 layoffs at tech companies with 154,910 people impacted (2,626 people per day). In 2022, there were 1,535 layoffs at tech companies 241,176 people were impacted.