Reliance Industries Chairman and Managing Director Mukesh Ambani has once again chosen not to draw any salary from the company, marking the sixth consecutive year of voluntarily foregoing remuneration. Despite leading India’s most valuable company, Ambani received no salary, allowances, stock options, commission, or retirement benefits during the financial year 2025–26, according to Reliance Industries’ latest annual report.
The move stands out in an era where executive compensation packages at large global corporations often attract scrutiny from investors and governance experts.
No Salary Since The Pandemic Era
Ambani’s decision to stop taking a salary began during the COVID-19 pandemic in 2020. At the time, he announced that he would voluntarily forgo remuneration until Reliance Industries and its businesses fully regained their earnings momentum after the economic disruption caused by the pandemic.
Before that, Ambani had already maintained a self-imposed cap of ₹15 crore annually on his remuneration between FY2008-09 and FY2019-20, despite Reliance’s rapid expansion across energy, telecom, retail, and digital businesses.
Even as Reliance Industries has reported record profits and expanded its market value significantly, Ambani has continued the policy of drawing zero salary.
Dividends Remain The Main Source Of Income
Although Ambani does not receive a salary from Reliance, dividends continue to be a major source of earnings for him and the broader promoter group. Reports indicate that Reliance’s promoter entities collectively earned nearly ₹4,000 crore through dividend payouts based on the company’s declared dividend for FY26.
Ambani personally owns around 1.61 crore Reliance shares. Based on the company’s declared dividend of ₹6 per share, his direct dividend income is estimated at around ₹9.66 crore.
However, a much larger portion of promoter earnings comes through family-controlled holding entities and promoter group firms that collectively own more than 50% of Reliance Industries.
Reliance Continues To Expand
The decision comes as Reliance Industries continues to strengthen its position across multiple sectors, including energy, telecom, retail, digital services, green energy, and advanced manufacturing. The company recently reported record annual profits while maintaining its position as one of India’s largest contributors to the national exchequer.
Reliance’s market capitalisation has also remained among the highest in India, reflecting investor confidence in the company’s long-term growth strategy.
Executive Pay Debate Continues
Corporate governance experts often point to excessive executive compensation as a concern across global companies. Against that backdrop, Ambani’s continued decision to forgo salary is frequently cited as an unusual example among large corporate leaders.
At the same time, the case also highlights how promoters of large listed companies can derive substantial earnings through ownership stakes and dividend payouts rather than direct executive salaries.
Summary
Mukesh Ambani has not taken any salary from Reliance Industries for the sixth consecutive year, continuing a policy first adopted during the COVID-19 pandemic. While drawing zero remuneration, Ambani and Reliance’s promoter group continue to earn significant income through dividends, with promoter entities receiving nearly ₹4,000 crore from the company’s FY26 dividend payout. The development highlights an uncommon approach to executive compensation at one of India’s largest corporations.
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