Softbank paid double the salary of its Vision Fund CEO Rajiv Mishra last year despite losses of billions. Many experts are considering this move of the company as surprising. Originally technology firm SoftBank invests in various companies through its vision fund. It has invested in many companies including Alibaba, Ola, Uber, Snapdeal, Paytm, Oyo and InMobi. According to the regulatory filings, Softbank paid Mishra a total salary of $ 15 million (about Rs 113 crore) in FY 2019-20. This is more than double of what it was a year ago.
For your information, let us tell you that the company has given this salary to Mishra in such a situation, while the Vision Fund has suffered a huge loss of $ 18 billion (about 1.35 lakh crore rupees) last year. The result of the loss of the vision fund is that Softbank Group has also incurred an operating loss of a total of $ 13 billion (about Rs 97 thousand crore). Experts are shocked by this move of the company. Analyst Dan Baker says that given the company's performance, Mishra's salary is too high. It is impossible to understand that salary is based on performance in some way.
Apart from this, Mishra is the second highest paid employee in Softbank. More than that, only the COO Marcello Cloor belongs. The company paid him a salary of 20 million dollars (about 150 crore rupees) last year with an increase of 17 percent. It is also surprising that SoftBank founder and CEO Masayoshi Son took a salary of only 19 million dollars (about 14 crores rupees) as salary, with a reduction of nine percent last year. At the same time, 56-year-old Rajiv Mishra, born in Baleshwar, Odisha, has a bachelor's degree in mechanical engineering from IIT, Delhi. He has a master's degree in computer science from the University of Pennsylvania. He is an MBA from Sloan School of Management. Rajiv Mishra has worked with Merrill Lynch, Deutsche Bank, UBS Group and Fortress Investment Group.
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