CEOs who choose to draw a minimum salary are becoming more common in recent times. These CEOs believe that their salaries should reflect the performance of their company, and therefore, should not be high unless the company is profitable. One example is Kunal Shah, the CEO of CRED, who recently disclosed that he earns a monthly salary of ₹ 15,000, despite leading a successful fintech company. Shah believes that he should not receive a high salary until CRED becomes profitable. TRENDING STORIES See All Premium Essar launches EET to invest $3. 6 bn in energy transiti . . . Premium WhatsApp introduces schedule group calls for iOS beta u . . . Premium SBI vs ICICI Bank shares: Which bank stock may give bet . . . Premium How Bernard Arnault became the world’s richest person The CRED CEO held an 'Ask Me Anything' session on Instagram on February 26, during which he disclosed his salary. In response to a question from a user who was surprised by his low salary, Shah explained that he earns a monthly salary of ₹ 15,000 because he does not believe he should receive a good salary until the company becomes profitable. Shah also mentioned that he is able to survive on this salary because he sold his previous company, FreeCharge, for a substantial sum. Also Read: Monetizing users the next chapter for Cred: Kunal Shah After a Twitter user, Ajeeth Patel, shared a screenshot of Shah's Instagram story, commenting that there are CEOs who earn salaries in crores while Shah earns a modest salary of ₹ 15,000, the post has received over two thousand likes and over 1,73,500 views. 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 response to Shah's revelation has been mixed. Some people appreciate his decision to not take a high salary until the company becomes profitable while many others think that it is merely a way for him to save on taxes. For some, it simply doesn’t matter since he has various other ways of compensating it. “Bro what are you talking about most of his startups are loss making and burning investor’s money he should take 0 salary and focus on making the startups profitable rather than making bonfire the fundings that he gets," wrote one user. MORE FROM THIS SECTION See All Premium Premium Earned by returning used cans, bottles for cash; this m . . . Premium Premium PM Modi bats for solar power, group housing models Premium Premium Will crisis-hit Pakistan be able to prevent looming rec . . . Premium Premium Air India's order for 470 jets at list price of $70 billion Also Read: Kunal Shah, Aman Gupta, Anupam Mittal among most active angel investors “He will sell his shares in series rounds right,so he doesn't care about salary," wrote another user while one user pointed out that Shah was an angel investor and invested in over 500 startups. “His angel investments will also be giving him income as when he exits from investments," he wrote. CEOs with minimum salary In 2013, Zuckerberg requested an annual salary of $1, making him the lowest-paid employee in Facebook. He, however, received other forms of compensation, such as bonuses and stock awards. Zuckerberg has stated that his salary is symbolic of his belief that his success is tied to the success of Facebook. Also Read: Cred to acquire lending-as-a-service firm CreditVidya Elon Musk, the CEO of Tesla and SpaceX, famously said that he only took a salary of $1 per year. He is compensated through a performance-based compensation plan tied to Tesla's market cap and other financial metrics. Musk's compensation plan allows him to earn up to $55. 8 billion in stock options if Tesla meets certain goals. Former Twitter CEO Jack Dorsey was also reported to draw a salary of $1 per year. Like Zuckerberg and Musk, Dorsey's compensation is tied to his company's performance through stock awards and other bonuses. ABOUT THE AUTHOR Sounak Mukhopadhyay Sounak Mukhopadhyay, who also goes by the name Sounak Mukherjee, has been producing digital news since 2012. He's worked for the International Business Times, The Inquisitr, and Moneycontrol in the past. He's also contributed to Free Press Journal and TheRichest with feature articles. He covers news for a wide range of subjects including business, finance, economy, politics and social media. Before working with digital news publications, he worked as a freelance content writer. Read more from this author Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. More Less Topics kunal shah OPEN IN APP.