ance Industries Limited (RIL) has informed shareholders that the company’s three non-executive directors, Akash Ambani, Isha Ambani, and Anant Ambani, will not be paid any salary for their services to the board. However, they may still earn in crores through sitting fees and commission on the company’s profits.
According to RIL’s annual report for 2022-23, non-executive directors are paid a sitting fee of Rs 6 lakh per meeting attended and a commission of 0.1% on the company’s profits. In 2022-23, Nita Ambani, the wife of RIL chairman and managing director Mukesh Ambani, earned a sitting fee of Rs 6 lakh and a commission of Rs 2 crore.
Based on this information, it is estimated that the Ambani kids could earn in crores even without a salary. For example, if they attend all 12 board meetings in a year, they will earn a total sitting fee of Rs 72 lakh each. And if RIL’s profits remain at the same level as in 2022-23, they will each earn a commission of Rs 2 crore.
Of course, this is just an estimate. The actual amount that the Ambani kids earn will depend on a number of factors, including the number of board meetings they attend, the company’s profits, and the commission rate.
It is also important to note that the Ambani kids have other sources of income as well. For example, Akash Ambani is the chairman of Reliance Jio, India’s largest telecom company. Isha Ambani is the director of Reliance Retail, India’s largest retailer. And Anant Ambani is the director of Reliance New Energy, the company’s renewable energy arm.
The Ambani kids have also been gifted shares in various Reliance group companies by their father, Mukesh Ambani. These shares are worth billions of dollars.
So, while the Ambani kids may not be earning a salary from RIL, they are still very wealthy. And their wealth is likely to continue to grow in the years to come.
