Cred CEO Kunal Shah revealed his salary while replying to a user on Instagram. Shah claims that he only earns Rs 15,000 per month as the company is not yet profitable.
Recently, reports of Meta CEO Mark Zuckerberg’s security cover being increased by USD 4 million had made headlines on the internet. Meta, which fired thousands of employees in November last year, is reportedly planning yet another round of layoffs soon. On the other hand, Google CEO Sundar Pichai, who announced 12,000 layoffs recently, had reportedly received a massive pay hike weeks before the decision was announced. The massive salaries of various companies’ CEOs are a much-talked about topic and people often read up these stories with keen interest. However, Cred CEO Kunal Shah is making headlines for completely different reasons.
Cred CEO Kunal Shah reveals his salary
The fintech company’s CEO revealed his salary while replying to a user on Instagram. Shah claims that he only earns Rs 15,000 per month as the company is not yet profitable. The CEO conducted an Ask Me Anything session on Instagram and a user asked him, “Your salary at Cred is so low? How do you survive?”
To this, Kunal Shah responded, “I don’t believe I should get a good salary till the company is profitable. My salary at CRED is â‚¹ 15,000 per month and I can survive as I sold my company FreeCharge in the past.”
While some are heaping praises on the CEO, others are sceptical about the statement.
Other tech giants’ CEOs’ salary package
Meta CEO Mark Zuckerberg reportedly takes home USD 12 billion per year. Recently, reports of the Facebook founder’s security cover being increased had surfaced on the internet. Mark Zuckerberg earlier had a security allowance of USD 10 million. But recent reports suggested that the company will be paying USD 14 million for the same to keep the founder safe.
Google CEO Sundar Pichai reportedly earns USD 242 million per year. In December 2022, Google announced that it recognised Sundar Pichai’s excellent performance and that they will be giving an equity reward to the CEO. Alphabet Inc, Google’s parent company, had said at the time that the award had been modified to increase the performance stock units (PSUs) to 60 per cent from the previous 43 per cent in 2019, while increasing the performance requirement for the payout. Thus, more of Pichai’s pay will be tied to the performance of the company.
The Google CEO had previously turned down equity compensation in 2018 citing that his pay package was already ‘justified’.
Coming to Apple CEO Tim Cook, he was receiving a salary package of USD 99.4 million in 2022. This included a base salary of USD 3 million and around USD 83 million in the form of bonus and stocks. However, in a filing with the SEC, Apple said that Tim Cook’s salary is being revised and the new compensation will be USD 49 million in total going forward. This includes a USD 3 million base salary, along with a 6 million bonus and an equity value of USD 40 million. In addition to this, Cook’s percentage of stock units, tied to Apple’s performance, will also rise to 75 per cent from the previous 50 per cent.