Friday, October 16, 2009

India's richest man takes bonus cut...

India's richest man announced he will voluntarily cap his compensation at 150 million rupees ($3.3 million) this year, saying he will get by on about a third of his take-home pay from the previous year.

Mukesh Ambani's flagship company, Reliance Industries, said Thursday his decision reflects his "desire to set a personal example of moderation."

In 2008, he made 66 percent more, or 440.2 million rupees ($9.6 million), a drop in the bucket of his overall wealth, which Forbes magazine puts at $19.5 billion. More...

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