CRED CEO Kunal Shah revealed in an Instagram story why he draws a salary of Rs 15,000 per month. A follower asked him about the relatively low salary during an Instagram Q&A and wanted to know how he managed to survive on that. “I don’t believe I should get a good salary till the company is profitable. My salary at CRED is Rs 15,000 per month and I can survive as I sold my company FreeCharge in the past,” Shah replied.
“There are CEOs who take salaries in crores then we have Kunal Shah,” a Twitter user wrote, sharing a screengrab of Shah’s Instagram story. The post, however, seems to have divided Twitter users. Many people pointed out that this is a common practice when it comes to CEOs and a “smart” one at that. Others praised Shah’s move.
There are CEOs who take salaries in crores then we have Kunal Shah. ???? pic.twitter.com/aahaDJmdAm— Ajeet Patel | Leetcode ⚡ (@Iampatelajeet) February 26, 2023
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. https://t.co/SBQonFADL9
— Navin | Tennis in my soul | Content on my mind (@vocabartist) February 26, 2023
Everytime Kunal does a Q&A on Instagram 100s of Twitter and LinkedIn dudes get content for mad engagement ahhahahahahahahaahhahahahahahahahahahahaha https://t.co/RKqT2X6adi— Vedant Lamba (@vedulamba) February 26, 2023
I agree but the same thing he pointed that tech companies aren't profitable since day1, VC funded companies build the market first later on they look for profit.Agree that they all should focus to be profitable ASAP.— Ajeet Patel | Leetcode ⚡ (@Iampatelajeet) February 27, 2023
being humble and flexing in the same sentence. His words always poke me to be curious.— Ankit Tamboli (@ankit_jds) February 26, 2023
Bro, it's called tax saving, ???? He definitely spending millions on his lifestyle.
— Harsh sharma, YouTube Growth (@Harshsh72075692) February 26, 2023
It's pretty absurd to me that in the age of near perfect information, most of the world still falls for the "I only pay myself $1 salary" dedicated founder grift.Founder equity is worth 100x+ any reasonable salary and they get taxed less on it.
One https://t.co/eel8KeJjag… https://t.co/58eYt3oTA7
— Deedy (@debarghya_das) February 26, 2023
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