Binny Bansal, a 6 ft tall handsome guy from Chandigarh, is the Group CEO of India’s largest commercial website, Flipkart. In a recent reorganization, he was promoted as the Group CEO and Kalyan Krishnamurthy was made CEO of Flipkart. Now, apart from Flipkart, Binny Bansal will also be responsible for managing Myntra and PhonePe.
Binny along with Sachin Bansal had started Flipkart in 2007. Both have the same surname – Bansal - and both belong to Chandigarh, but they are not related. In fact, both of them had studied in the same batch, same college, same department – B. Tech, Computer Science from IIT – Delhi. Before co-founding Flipkart, Binny and Sachin had worked together with Amazon in the USA.
|Binny and Sachin Bansal|
In this article, we will discuss about salary of Binny Bansal.
Salary of Binny Bansal
Binny and Sachin both holds 20 % of shares of Flipkart. Rest is in the hands of investors and venture capitalist firms. Flipkart is not a listed company.
Since, it is not listed in any share market, there is no requirement for the company to disclose about the exact amount it gives to the CEO and other executives in the form of salary and perks.
However, there are grapevines going on in the tech circle of Bangalore about the salary of Binny Bansal.
As per one estimate, he is currently getting Rs. 5 Crore per annum as salary from the company he had co-founded. It should also be noted here that Sachin Bansal, the former CEO, is still getting little more than what Binny has been offered by the board.
It means, Binny is among the top salary earner of India. He is definitely lags behind likes of Navin Jindal who gets. around Rs. 73 Crores.
It should also be mentioned here that apart from salary, Binny is also getting rich as he is holding 10 % of the share of the company. As per current estimates, he is valued at $1 billion and along with Sachin he is in the coveted list of Indian billionaires. It should be noted that he is a self-made billionaire and is only 33 year old.