Zerodha CEO Nithin Kamath, at a recent event in Bangalore, answered a question posed by the host, YourStory founder Shradha Sharma: “Why do Indians hate rich people?” His response, expectedly, prompted reactions from many, including Harsh Goenka. The billionaire reacted to Kamath’s response, saying, “Indians celebrate good billionaires.”
Nithin Kamath’s response to Shradha Sharma’s question:
“In the US, if someone makes a lot of money, if they are very successful and buy new cars, then it comes on the cover page. And it’s very normal - buying a jet and all is very normal. And as a society also, they don’t look down [on rich people],” Sharma asked Kamath.
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He replied, “US is a pure bred capitalistic society. We are a socialist-pretending-to-be-capitalistic society,” adding. “At the heart of it, we are all socialists.”
How did Harsh Goenka react?
Sharing a footage of Zerodha CEO’s response, Goenka put forth his opinion. “Here’s my point of view: Indians celebrate good billionaires like Ratan Tata, Azim Premji, and Anand Mahindra—they’re loved and emulated for their humility, philanthropy, and values," he wrote.
He added those who “flaunt wealth, corrupt the system, and prioritise personal gain over societal good” are disliked. “Wealth isn’t the issue—how it’s used is!” he wrote as the concluding line of his share.
Take a look at the viral X post here:
{{/usCountry}}He added those who “flaunt wealth, corrupt the system, and prioritise personal gain over societal good” are disliked. “Wealth isn’t the issue—how it’s used is!” he wrote as the concluding line of his share.
Take a look at the viral X post here:
{{/usCountry}}Social media is divided:
Harsh Goenka’s remark sparked chatter, with people either supporting or opposing this opinion. One individual posted, “They are spending their tax-paid money, and by this spending, the money comes back to society and benefits so many people.”
Another added, “We love you too! There are many business leaders who have created wealth for lakhs and given employment opportunities for millions. And their lifestyle choice is their choice - IMO, why should we have a viewpoint on that? And as far as their business choices are concerned, the regulatory system takes care of it.”
Also Read: Why do Indians hate rich people? Zerodha billionaire Nithin Kamath answers at Bengaluru event
A third expressed, “I strongly agree that people don't like people who flaunt their money and ego.” A fourth wrote, “Totally agree! Good billionaires set a great example for others to follow. Also, the view is very distorted/one-sided. I have lived in the US for almost a decade, and some people in the US also dislike some wealthy folks.”
Harsh Goenka vs Nikhil Kamath: Net worth
According to Forbes, Nikhil Kamath, co-founder of discount brokerage Zerodha, is worth over $3.1 billion. The outlet lists Harsh Goenka, Chairperson of the RPG Group, at $4.4 billion.
What are your thoughts on Harsh Goenka’s response to Nithin Kamath’s remark?