1 week Ago By Moneycontrol
In a country where corporate year-end bonuses are a matter of intense speculation and social chatter, a LinkedIn post recently offered what seemed to be the ultimate feel-good story — that Nithin Kamath, the billionaire co-founder of Zerodha, had gifted more than 20 luxury cars, including BMWs, Audis, and Mercedes-Benz vehicles, to his top-performing employees in 2023. According to a report by Business Today, the viral claim originated from a now-deleted post on LinkedIn by finance educator Minal Udeshi. Far from criticising the alleged move as excessive, Udeshi hailed it as the pinnacle of “strategic compensation”, suggesting that Kamath’s approach was not only heartfelt but also tax-efficient and administratively streamlined.
“In 2023, Indian billionaire Nithin Kamath of Zerodha gifted over 20 luxury cars to top employees. Not bonuses. BMWs.
Audis. Mercedes,” Udeshi wrote. She framed the purported car gifting not as a lavish display of wealth but as a financially savvy alternative to traditional remuneration models.
“A car, gifted as a non-cash perk, often attracts lower taxes than salary,” she continued. “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 argued 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.” She concluded by painting a picture of a modern compensation philosophy: “While the middle class counts on year-end appraisals, the ultra-wealthy are building loyalty and moving money in ways that are smart, legal, and..
. well, parked in the driveway. “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.
” The post, with its combination of financial insight and aspirational content, quickly went viral. Social media users celebrated Kamath as a visionary employer, one who combined emotional intelligence with fiscal acumen. However, the celebration was short-lived.
As the post continued to make the rounds on WhatsApp forwards, LinkedIn feeds, and online forums, the man at the centre of the rumour stepped in — and promptly shut it down. In a response also reported by Business Today, Kamath issued a flat denial: “What!!! Unless there is some other Nithin Kamath from Zerodha, this is definitely not true,” he stated. The stark rebuttal not only dismantled the growing narrative but also highlighted the speed and ease with which misinformation can take root and spread online.
While Zerodha had never implemented such a car-based rewards programme, the fictitious account had already ignited widespread conversation around executive compensation, taxation strategies, and employee retention..
