The salary of CRED‘s CEO sparked a heated discussion online following entrepreneur Kunal Shah’s “Ask Me Anything” session on Instagram. Shah revealed that he only earns Rs 15,000 per month and explained that he prefers not to take a high salary as the fintech unicorn is still not making a profit. This disclosure sparked a debate on the internet.
In response to a question about his low salary at CRED, CEO Kunal Shah explained in an Instagram post that he believes he should not receive a high salary until the company becomes profitable. Shah revealed that he earns only Rs 15,000 per month, but can manage due to the sale of his previous company, FreeCharge. His statement sparked a discussion online about the role of executive compensation in startups.
The disclosure of CEO Kunal Shah’s low salary at CRED sparked a debate among netizens. While some praised his decision, others argued that it is not uncommon for CEOs or founders to receive alternative forms of compensation such as bonuses and stocks. This disagreement highlights the ongoing discussion around executive pay in the startup industry.
There have been reports of high-profile CEOs like Jack Dorsey, former CEO of Twitter, Elon Musk, CEO of Tesla and SpaceX, and Mark Zuckerberg, founder of Meta, drawing a salary of just $1 per year. These executives are said to be compensated through performance-based plans instead. Some have criticized this approach, with one social media user suggesting that it may simply be a tax-saving strategy and that the CEOs still lead lavish lifestyles despite their seemingly low salaries.
Social media users have expressed differing opinions on the low salaries of high-profile CEOs such as Jack Dorsey, Elon Musk, and Mark Zuckerberg. While some argue that executives should take zero salary and focus on making their startups profitable, others point out that these CEOs may still earn income from angel investments and other sources. Some have also questioned the amount these CEOs have sold in the secondary market. Despite the varied responses, many agree that these CEOs are both humble and inspiring, and encourage curiosity.