100 crore salary! That too during the Covid era, it was not Jeff Bezos and Elon Musk who achieved this feat, but two young men in the Indian start-up space. Those billionaires are Nithin Kamath and Nikhil Kamath, the founders of Fintech startup Zerodha. In addition, Nitin’s wife and full – time director Seema Patil too has an annual salary of Rs 100 crore.
Zerodha was founded in August 2010 by the Kamath brothers based in Bengaluru. Zerodha is a financial services company offering mutual funds, retail-institutional brokerage, currency-commodity trading and bonds.
According to Entrackr, Nitin and Nikhil are the highest paid Indian startup founders. The Zerodha Board passed a special resolution paying Nikhil, Nitin and Seema up to Rs 100 crore per annum. The three will get a basic salary of Rs 4.17 crore per month and up to Rs 100 crore per annum including preconditions and other allowances.
According to Entrackr, Zerodha had a revenue of Rs 1,000 crore and a profit of Rs 442 crore for the financial year 2020. Rs 950 crore in the financial year 2019 increased to Rs. 1,093.64 crore in 2020. Revenue grew by 15%. Zerodha is the largest equity brokerage firm in India with over 3.14 million clients, according to National Stock Exchange data. The Kamath Brothers and Seema lead the Rainmatter Foundation, which supports individuals and organizations working on climate change issues. The organization has $100 million in funding.
The highest paid Indian startup founders in 2020 are Vinay Sanghi of CarTrade, Deepinder Goyal of Zomato, Vijay Shekhar Sharma of Paytm, Harsh Jain of Dream11 and Bhupinder Singh of InCred. They earned a salary of Rs 3 crore to Rs 6 crore in the financial year 2020. These figures in the billions indicate that the crisis raised by the Pandemic has become an opportunity for growth for at least some. Or the real entrepreneurs who take advantage of the crisis.