- Kunal Shah, CEO of CRED, revealed his monthly salary of ₹ 15,000 and the reason behind it during an Instagram ‘Ask Me Anything’ session.
- Shah’s modest salary has garnered praise from some users on social media, but others have criticized it as just a tax-saving strategy.
During an ‘Ask Me Anything’ session on Instagram, Kunal Shah, the CEO of fintech firm CRED, revealed his monthly salary to be ₹ 15,000 and explained the reason behind it.
In response to a user’s question about how he manages to survive on such a low salary, Mr. Shah stated that he believes he should not receive a high salary until the company is profitable. He also mentioned that he sold his previous company, FreeCharge, and can sustain himself with that.
A user named Ajeeth Patel shared a screenshot of the conversation on Twitter, praising Mr. Shah for his modest salary compared to other CEOs who earn crores.
There are CEOs who take salaries in crores then we have Kunal Shah. 💖 pic.twitter.com/aahaDJmdAm— Ajeet Patel | Leetcode ⚡ (@Iampatelajeet) February 26, 2023
The post has received over 2000 likes and 1.4 lakh views since it was shared. Yet Mr. Shah’s answer appears to have caused some disagreement on the internet. While some people applaud the CEO’s move, others point out that it is just a tax-saving strategy.
One user said, “Very impressive.
“Being humble and flexing in the same sentence. His words always poke me to be curious,” said a user.
According to one user, “He’s also an angel investor and has invested in over 500 start-ups. His angel investments will also be giving him income as when he exits from investments.”
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Another user scoffed at the idea that a monthly salary of ₹15,000 would make any significant difference in the person’s life, given that he had already sold a start-up worth hundreds of crores and is considered to be wealthy.
Yet another internet user suggested that the CEO should consider taking his salary in CRED coins.