Kunal Shah Net Worth: Surprising Salary Revelation

Unveiling Kunal Shah’s Net Worth: The Astonishing Salary That Will Leave You Stunned.

Kunal Shah, the CEO of CRED, has a net worth of Rs ₹15,000 crore INR. Despite this, he stated during an Instagram Q&A that his salary is only Rs 15,000. It’s worth noting that Kunal Shah did not attend either IIT or IIM. Recently, a Twitter user named Ajeet Patel shared a screenshot of Kunal Shah’s Instagram story, which revealed this surprising information.

Kunal Shah Net Worth

Kunal Shah is the CEO of CRED and has a net worth of Rs ₹15,000 crore INR. He mentioned in an Instagram Q&A that he only earns a salary of Rs 15,000, despite his wealth.

A Twitter user named Ajeet Patel shared a screenshot of Kunal Shah’s Instagram story. During an ‘Ask Me Anything’ session, someone asked Shah about his low salary at CRED. Shah replied that he doesn’t think he deserves a high salary until the company is profitable. He revealed that his salary is only Rs 15,000 per month and that he can manage because he sold his previous company, FreeCharge. Ajeet Patel captioned the post, “There are CEOs who take salaries in crores, then we have Kunal Shah.” The post has become popular on Twitter, with people sharing their opinions about Kunal Shah’s statement.

About Kunal Shah 

Kunal Shah, the founder of CRED and FreeCharge, is an angel investor who incentivizes members to clear their credit card bills on time. CRED is a platform that rewards members for paying their bills promptly and is accessible only to members.

Besides founding these two successful companies, he has also advised at Sequoia Capital and served as a part-time partner at Y Combinator. He attended Wilson College in Mumbai, where he earned a BA in Philosophy. He also went to pursue an MBA at Narsee Monjee Institute of Management Studies but dropped out.

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Journey from a Working Student to CRED Founder

Kunal, the founder of CRED, began working at the age of 15 to assist his family during a financial crisis. He continued to work while pursuing his bachelor’s degree, taking on freelance design and programming gigs. He later created PaisaBack, a small SaaS company that became FreeCharge in 2010, a cash-back and promotional discount campaign platform for retailers.

After overseeing operations at FreeCharge following its acquisition by Snapdeal in 2015, Kunal left in 2016. In 2017, the firm was purchased by Axis Bank. In 2018, Kunal founded CRED, an app that enables users to make credit card payments and receive rewards. CRED presently has over 5 million users and processes around 20% of all credit card payments in India. It is now the second-fastest Indian startup to attain unicorn status, valued at $1 billion or more.

Kunal is now a business advisor for several companies, including Bennett Coleman and Co. Ltd. (Times Group) and AngelList. Kunal invests in a variety of ventures, including Go-Jek, Zilingo, Unacademy, Shuttl, Chillr, Innov8, Lifcare, TinyOwl, Spinny, Jugnoo, Mobile Premier League (MPL), Azani, Tapzo, Runnr, Flyrobe, Razorpay, Voonik, TVF, PocketAces, Rupeek, Dil Mil, and more, helping the entrepreneurial community.

Education

Kunal enrolled in Wilson College, Mumbai in 1994 to pursue a Bachelor of Arts (B.A.) in Philosophy. He completed his degree in 2000. After graduation, Kunal founded and managed a BPO company.

Dropping Out of MBA

In 2003, Kunal enrolled part-time in an MBA program at Narsee Monjee Institute of Management Studies (NMIMS), Mumbai. However, he dropped out after a few semesters because he disliked the focus on memorization and writing, rather than practical education. Instead, Kunal chose to learn MBA theory from the internet rather than attending classes.

Despite dropping out, Kunal’s MBA studies introduced him to the fields of marketing and consumer behavior, which proved to be valuable knowledge.

Hardships that Came along the Way

When Kunal was 15, his family went through a financial crisis due to his father’s struggling pharmaceutical distribution business. They had to move to a small apartment to make ends meet. To help with finances, Kunal took a job as a Data Entry Operator to pay for his school fees and reduce the burden on his parents.

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Life is All about Jugaad

During his 12th grade, Kunal was introduced to the internet. However, internet access was very expensive at that time. To overcome this, Kunal started teaching about the internet in a few institutes, which allowed him to get free access to the internet. He worked part-time at these institutes, enjoying both the salary and the free internet access. The internet opened up a world of opportunities for Kunal as he began connecting and exchanging ideas with academics from foreign universities.

Kunal eventually quit his job as a Data Entry Operator and transitioned to teaching at multiple internet institutes full-time. There, he spent entire nights surfing the internet. Kunal became addicted to reading articles online, even though he had not previously been a fan of reading.