India’s richest man took a 66 percent pay cut to “set a personal example of moderation” after India’s government called for austerity in salaries of executives
Mukesh Ambani, the head of Reliance Industries, said he would cap his pay at 150m rupees ($3.3m) this year. He received 440m rupees in 2008.
With a net worth of $19.5 billion, Mukesh Ambani has been ranked seventh in the global list, topped by Microsoft founder Bill Gates ($40 billion).
Mukesh, who has lost more than $23 billion, was ranked at fifth position last year.
Source: BBC
