When discussing influential figures in the stock market, names like Harshad Mehta, Rakesh Jhunjhunwala, and Radhakishan Damani often come to mind. However, another notable figure who has made significant strides in the financial world is Nilesh Shah, the Managing Director and CEO of Kotak Mutual Fund. He is a prominent name in India’s mutual fund industry. His rise from humble beginnings to a leading figure in finance is a testament to his expertise and dedication.

Raised in a chawl in Mumbai with a modest allowance of just Rs 50, Shah’s journey is nothing short of remarkable. Today, he commands a salary of Rs 15 crore, reflecting his success and the significant impact he has had on investors.

In a recent podcast, Shah shared insights into his stock market journey and personal experiences, offering inspiration to countless young professionals in the industry. His story serves as a beacon of hope for those aspiring to achieve greatness in the financial sector.

Shah, who now oversees a mutual fund business valued at Rs 4 lakh crore, spent his childhood in poverty. After the death of his father, a mill worker, Shah’s mother raised him with remarkable strength and resilience. Recognising Shah’s academic potential, his school principal covered his educational expenses until he completed his schooling. Despite these early hardships, Shah’s determination and talent have propelled him to great success in the financial world.

He spent his childhood in a modest 250 square foot room. After finishing school, he chose to pursue chartered accountancy over an MBA. To support himself during his studies, Shah took on a part-time job as an articled clerk at a firm, initially earning Rs 50. His mentor, Prafulla Bhai, later increased his stipend to Rs 250. Despite these challenges, Shah balanced work with his studies and ultimately achieved a significant milestone by securing the first rank in the Chartered Accountancy final exams.

Throughout his career, Shah focused on earning investors’ trust rather than merely pursuing profits. His clear vision for fund management and dedication to safeguarding investors’ interests have solidified the credibility of both himself and the Kotak brand.

From his modest beginnings in a chawl in Kalbadevi, Mumbai, where he worked for Rs 50, Shah has risen to manage a mutual fund business valued at Rs 4 lakh crore. According to reports, he now commands an annual salary exceeding Rs 15 crore.