How much did Mukesh Ambani earn without taking a salary from Reliance six years straight?

Reliance Industries Chairman and Managing Director Mukesh Ambani has once again chosen not to draw any salary from the company, extending a decision that began during the Covid-19 pandemic. FY 2025-26 marks the sixth consecutive year in which India's richest businessman has received no remuneration from Reliance Industries, despite the company reporting record profits and maintaining its position among India's most valuable firms.

The development raises a common question among investors and observers: If Mukesh Ambani has not taken a salary for six straight years, how much has he earned from Reliance during this period?

No salary since FY21

According to Reliance Industries' latest annual disclosures, Ambani has not received any salary, allowances, perquisites, commission, retirement benefits or stock options from the company since FY 2020-21. The company confirmed that FY26 is the sixth consecutive year of zero remuneration.

The decision was first taken in June 2020 when Ambani voluntarily gave up his pay package in view of the economic and social disruption caused by the pandemic. He has continued the practice every year since then.

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How much did he earn instead?

Although Ambani's salary from Reliance has been zero, he continues to earn from his ownership stake in the company through dividends declared to shareholders.

For FY25, Reliance announced a dividend of Rs 6 per share. Based on his personal holding of approximately 1.61 crore shares, Ambani earned around Rs 9.66 crore as dividend income from Reliance.

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In addition, the Ambani family and promoter group collectively own a significant stake in the company. The promoter group's holding of around 664.5 crore shares generated a dividend payout of nearly Rs 3,987 crore during the year.

While the exact dividend income earned by Ambani over the entire six-year period depends on annual dividend declarations and shareholding patterns, the latest figures underline that his wealth is primarily linked to dividends and the value of his Reliance shareholding rather than executive compensation.

Nita Ambani, a non-executive, non-independent director on Reliance Industries' board and wife of Chairman Mukesh Ambani, also saw her remuneration increase during the period. Her total compensation, including sitting fees and commission, rose from Rs 1.39 crore in FY2016-17 to Rs 1.56 crore in FY2017-18.

Wealth creation

For promoters of large listed companies, share ownership often plays a much bigger role in wealth creation than salary. As Reliance's largest shareholder, Ambani's net worth is largely tied to the company's market value and business performance.

Reliance's share price appreciation, combined with regular dividend payments, has significantly increased shareholder wealth over the years. This means that even without drawing a salary, Ambani continues to benefit from the growth of the company through his equity stake.

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Record numbers

Ambani's decision to forgo salary is particularly notable because it comes during a record year for Reliance Industries.

The company reported a consolidated net profit of Rs 95,754 crore in FY26, its highest-ever annual profit. Reliance also ended the year with a market capitalisation of approximately Rs 18.19 lakh crore (about $191.8 billion), reinforcing its status as one of India's most valuable companies.

Why it stands out

Reliance noted that Ambani's voluntary decision is unusual in a global corporate environment where executive compensation often attracts shareholder scrutiny. Even before opting for a zero-salary structure, he had voluntarily capped his remuneration at Rs 15 crore annually for 12 consecutive years despite the company's rapid growth.

The takeaway is clear: while Mukesh Ambani's salary from Reliance has remained at zero for six straight years, his earnings continue to come from dividends and, more importantly, from his substantial ownership in India's largest private-sector enterprise.

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