According to a recent LinkedIn post, Zerodha co-founder Nithin Kamath had supposedly gifted over 20 luxury cars—BMWs, Audis, and Mercedes to his top employees in 2023.
The viral LinkedIn post
Finance educator Minal Udeshi shared on LinkedIn: “In 2023, Indian billionaire Nithin Kamath of Zerodha gifted over 20 luxury cars to top employees. Not bonuses. BMWs. Audis. Mercedes.”
She elaborated that the purported car gifting was not a lavish display of wealth but a witty financial strategy to traditional remuneration models.
“A car, gifted as a non-cash perk, often attracts lower taxes than salary,” she claimed. “Depreciating asset? Yes. But when bought under a company, can be claimed as an expense. No dividend tax. No ESOP paperwork. No annual tax reporting chaos.”
Udeshi further said that the emotional impact of such a gesture would far surpass that of conventional financial incentives: “And more importantly — emotionally memorable in a way no payslip ever is.”
“This isn’t just gifting. This is strategic compensation. It’s not always about bigger bank accounts. Sometimes, it’s about knowing how to spend smarter — and leave everyone smiling,” Udeshi added.
Nithin Kamath responds
The post went viral. Netizens even started praising Kamath for using such a financially clever tactic. However, the Zerodha boss opened up and clarified that it was a rumour.
Nithin Kamath flatly denied gifting luxury cars to his employees. Responding to Business Today, he said, “What!!! Unless there is some other Nithin Kamath from Zerodha, this is definitely not true."
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