SoftBank’s Nikesh Arora got a Rs 500 crore pay package for 2016
Nikesh Arora, the India-born President of Japanese telecom and internet giant SoftBank reportedly received a salary of $73 million (Rs 500 crore) last fiscal, thus making him one of the highest paid executives in the world, according to a Bloomberg report.business Updated: May 26, 2016 18:11 IST
Nikesh Arora, the India-born President of Japanese telecom and internet giant SoftBank reportedly received a salary of $73 million (Rs 500 crore) last fiscal, thus making him one of the highest paid executives in the world, according to a Bloomberg report.
The report also said that Arora’s salary package was at par with the likes of Tim Cook, CEO of Apple Inc and Walt Disney Co.’s Bob Iger. This is the second year in a row that Arora has figured in the Bloomberg ranking of global executives by pay.
Arora, a former Google executive joined SoftBank in mid 2014 as senior vice president and quickly rose to be the President. At the time of joining he also created a record of sorts with pay package estimated at $150 million, which Softbank later clarified, included Arora’s joining bonus.
It was under Arora’s leadership that SoftBank’s investment arm became a major investor in the Indian e-commerce and internet based businesses. Amongst its major investments in India the Japanese giant counts e-commerce company Snapdeal, cab ride aggregator Ola and online real estate platform Housing.com. SoftBank’s investment in India a year ago crossed the $1 billion mark. More recently the company said its investment in India will cross $10 billion in the coming years. In June last year SoftBank along with contract manufacturing giant Foxconn had partnered with India’s Bharti Enterprises (Airtel) with plans to invest $20 billion in solar power projects in India.
Arora is also been identified and groomed to possibly take over the reins of the company from SoftBank’s Chairman and CEO, Masayoshi Son. More recently Son had reiterated his confidence in Arora when a group of unidentified investors in US questioned Arora’s abilities for the role he currently plays in the company and had sought his removal. Son had said, “I have complete trust in Nikesh and one thousand percent confidence in him and know he will continue to do great things for SoftBank in the future.”
First Published: May 26, 2016 18:11 IST