Zerodha, a bootstrapped business founded in 2010, was estimated at $2 billion (then Rs 15,612 crores) in 2022; check the whopping monthly salary of CEO Nithin Kamath here.
Over the past several years, entrepreneurs have significantly boosted the Indian economy, and a few names have risen as shining stars in various industries. You will be motivated by the success of Nithin Kamath's Zerodha, the biggest brokerage business in India. Zerodha, a bootstrapped business founded in 2010, was estimated at $2 billion (thenRs 15,612crores) in 2022.
Along with his brother Nikhil Kamath and his wife Seema Patil, Nithin Kamath manages the business. Zerodha has advanced significantly from a team of five to hundreds of workers. Zerodha is the country's first "discount brokerage," according to MoneyControl.
A new feature that allowed users a unified family portfolio was introduced by the business in 2022. It allowed users to add up to 10 family portfolios and provided them with learnings on sector specified risks, capital budgeting, and other topics.
The creators of Zerodha would receive a yearly salary of Rs. 100 crore per in 2021, according to the news. The board of Zerodha reportedly approved a special resolution authorising a base monthly compensation of Rs 4.7 crore as well as other benefits, making the total pay Rs 300 crore annually, according to Times Now. The revelation of their receiving such a big paycheck, however, was met with criticism on social media.
In order to make clear that this was an allowing decision that permits the three working entrepreneurs to draw wages up to the sum in case of cash flow, Nithin Kamath posted a clarification on Twitter. He explained that starting a business is similar to trading in that you can quickly go up or down.
When you are ready to de-risk, you should remove liquidity. 15% of profits is what we have always done. This aids us in sustaining our individual investments in start-ups and charitable organisations, he added.
He tweeted information about salary and de-risking, saying that they are facilitating this de-risking for all members of our team via our ESOP (employee stock ownership plan) buyback. Every year, a large sum is set aside for the buyback. It amounts to about Rs 200 crores this year.
The PAT (profit after tax) for the fiscal years 2020-21 was about Rs 1000 crores. He added that although the actual income would be more than the average, it would be less than what was mentioned.
Nithin Kamath receives a monthly base salary of Rs. 4.16 crore, according to a salary breakup by Hindu Business Line. Additional compensation includes Rs 2 crore for housing rent, Rs 1.6 crore for other perks, and Rs 41 lakh for extra allowances.
Not only that, but he also receives a bonus amount and profit sharing dependent on his work, the board's approval, and the company's standards and policies. According to the article, Seema and Nikhil each earn the same amount of money.
The CEO of Zerodha is quite active on social media; most recently, he commented on SEBI's decision to ban actor Arshad Warsi and others from manipulating stocks through YouTube. According to him, the SEBI's order should serve as a clear warning. According to Kamath's tweet, these techniques have evolved into the easiest game in town for manipulators.
READ |Zerodha CEO reacts to SEBI banning Arshad Warsi, others in stock price manipulation via YouTube
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FAQs
Nithin Kamath receives a monthly base salary of Rs. 4.16 crore, according to a salary breakup by Hindu Business Line. Additional compensation includes Rs 2 crore for housing rent, Rs 1.6 crore for other perks, and Rs 41 lakh for extra allowances.
How much does Nithin Kamath earn? ›
According to their company's filings with the ministry of corporate affairs (MCA), Nithin Kamath and Nikhil Kamath – founders of investment firm Zerodha – drew in an annual salary of ₹72 crore each in Financial Year 2023 (FY23).
How much does Nikhil Kamath make a year? ›
The company's co-founders and whole-time directors, including Nithin and Nikhil Kamath, collectively withdrew Rs 195.4 crore as annual remuneration. Zerodha's Nithin and Nikhil Kamath took home a salary of Rs 72 crore each in FY23, said a report on Friday.
What is the net worth of Nikhil and Nithin Kamath? ›
In the list of India's 100 richest people released by Forbes on October 11, 2023, the families of Nithin and Nikhil Kamath were ranked at 40 with a combined net worth of Rs 45.754. 5 crore ($5.5 billion).
What is the total worth of Zerodha? ›
Today it is Rs 3 and a half lakh crore,” said Kamath in the podcast. “Rs 10,000 crore is not much…in a sense that it is not your money, it is customers holding assets with you. But at Rs 3.50 lakh crore, we are in the league of some of the bank brokers today.
Is Nikhil Kamath a billionaire? ›
Nikhil Kamath, India's youngest billionaire, leads the pack with a net worth of $3.1 billion, according to the Forbes Billionaires List 2024. Alongside him, his brother and Zerodha co-founder Nithin Kamath, and Flipkart co-founders Sachin and Binny Bansal, have also emerged as the country's youngest billionaires.
How much does Zerodha earn per day? ›
The company was adding close to 250,000 customers every month, showcasing its dominance in the retail brokerage sector. The online stockbroker held a market share of 19.6 per cent at the end of FY23 and its daily average turnover, according to the National Stock Exchange (NSE), was Rs 2,000 crore.
Who is the youngest billionaire in India Nikhil Kamath? ›
Synopsis. Nikhil Kamath, the youngest billionaire in India and co-founder of Zerodha, recently imparted his life philosophy to a group of young entrepreneurs. With a staggering net worth of $3.1 billion, Kamath's journey from dropping out of school to becoming a thriving entrepreneur serves as a source of inspiration.
Is Nithin Kamath a billionaire? ›
Nithin Kamath, the 44-year-old founder and CEO of Zerodha, is this fourth-youngest Indian billionaire in this year's Forbes list. His wealth has been pegged at $4.8 billion. His brother Nikhil Kamath, 37, is the youngest Indian billionaire and his wealth has been pegged at $3.1 billion by Forbes.
Who is the girlfriend of Kamath? ›
But, looks like the duo has now broken off and Kamath has found love in Rhea Chakraborty. Rumour mills are abuzz that the duo is seeing each other. Rhea was recently spotted arriving at a party with her rumoured beau.
Currently I drive…
“I drive either an Audi or a Porsche. I picked a black Audi A6 around four to five years ago because it's very practical and makes sense in a city and a white Porsche Boxter S convertible, about a year-and-a- half back because it's fun.
Who is India's youngest billionaire? ›
Meet Pearl Kapur, at 27, he stands as India's youngest billionaire, carving his name in the annals of entrepreneurship. Pearl Kapur, a Queen Mary University of London graduate with an MSC in Investment Banking (CFA Pathway), started his entrepreneurial voyage in May 2023.
How did Nikhil Kamath get rich? ›
He started his career with a job at a call center. He was also engaged in equity trading on the side. Nikhil Kamath eventually decided to become a sub-broker and started his own brokerage firm in 2006 with his brother Nithin Kamath. In 2010, Nikhil Kamath co-founded Zerodha along with his brother Nithin Kamath.
How much profit does Zerodha make? ›
SUMMARY. Nithin and Nikhil Kamath-led stock broking platform zerodha 's net profit rose 37% to INR 2,908.9 Cr in the financial year 2022-23 (FY23) from INR 2,120.3 Cr in the previous fiscal year as the business continued seeing strong growth.
Is Zerodha 100% safe? ›
It's important for investors to conduct their own research and understand the risks associated with investing in the stock market. Overall, Zerodha is considered safe for buying stocks, but investors should always exercise caution and make informed decisions before investing their money.
Who is the billionaire CEO of Zerodha? ›
Nikhil Kamath (born September 5, 1986, in Udupi, Karnataka) is an Indian entrepreneur. He is the co-founder of Zerodha, a retail stockbroker, and True Beacon, an asset management company. Kamath is a part of the 2023 Forbes billionaires list.
Which companies are owned by Nithin Kamath? ›
Nithin Kamath has 2 current jobs as Founder & CEO at Zerodha and CEO at Rainmatter Capital .
How did Nikhil Kamath make his money? ›
He started his career with a job at a call center. He was also engaged in equity trading on the side. Nikhil Kamath eventually decided to become a sub-broker and started his own brokerage firm in 2006 with his brother Nithin Kamath.
