The CEO of fintech business CRED, Kunal Shah, hosted a "Ask Me Anything" session on Instagram on Sunday, during which he disclosed his salary. Shah claimed that he receives a monthly salary of Rs 15,000 and explained why.
The reply was in response to a user's query: "Your salary at CRED is so low? How do you survive?" In response to the that question, Shah remarked, "I don't believe I should get a good salary till the company is profitable. My salary at CRED is ₹ 15,000 per month and I can survive as I sold my company FreeCharge in the past."
Ajeeth Patel, a user on Twitter, posted a screenshot of the report. There are CEOs who receive compensation in crores, but we also have Kunal Shah, he wrote next to the screenshot.
Since it was shared, the post has received over 2000 likes and 1.4 lakh views. Yet Shah's reply appears to have caused some disagreement on the internet. While some people applaud the CEO's decision, others point out that it is just a tax-saving measure.
Here's what some of the internet users said
"He's also an angel investor and has invested in over 500 startups. His angel investments will also be giving him income as when he exits from investments," said one social media user.
Another user commented, "Who here is fool enough to think taking home 15K makes a difference in his life? I mean the guy sold his startup worth hundreds of crores. He's loaded."
"He should take his salary in CRED coins." Another person commented.
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