Nithin Kamath, CEO of Zerodha, faced a question about the public’s perception of the wealthy at a recent event in Bangalore. Shradha Sharma, founder of YourStory, posed the question. “Why do Indians hate rich people?” However, it appears that Kamath’s answer didn’t go down well with billionaire Harsh Goenka. Chairman of RPG Enterprises, Harsh Goenka, recently took to X (formerly known as Twitter) to counter Zerodha CEO Nithin Kamath‘s claim that Indians have a deep-seated dislike for the wealthy.
Harsh Goenka’s take
Kamath, while speaking at an event, attributed the supposed animosity towards the rich to a “socialist mindset” ingrained in Indian society. Goenka, however, offered a different perspective.
In a series of tweets, Goenka emphasised that Indians don’t inherently hate the rich, but rather value those who use their wealth responsibly. “Indians celebrate good billionaires like Ratan Tata, Azim Premji, and Anand Mahindra—they’re loved and emulated for their humility, philanthropy, and values,” he wrote.
Goenka further elaborates that it’s the “flaunting wealth, corrupting the system, and prioritizing personal gain over societal good” that attracts criticism.
Read the complete post here
“Here’s my point of view: Indians celebrate good billionaires like Ratan Tata, Azim Premji, and Anand Mahindra—they’re loved and emulated for their humility, philanthropy, and values. What we dislike are those who flaunt wealth, corrupt the system, and prioritize personal gain over societal good. Wealth isn’t the issue—how it’s used is!”
User reactions
Goenka’s comment sparked a lively debate, with people expressing both support and opposition to his opinion. Here are some of the user reactions:
“They are spending their tax paid money and by this spending the money comes back to society n benefits so many people”
“But but …. It’s their money to spend as they wish. What’s there to hate about?Maybe I am wired differently.”
“Exactly! Despite of their enormous wealth, billionaires like Ratan Tata are celebrated by every Indian because of their humility and kindness. They help the needy, do a lot of service to society. The problem is the corrupt, parasitic rich people.”
“We love you too! There are many business leaders who have created wealth for lakhs and given employment opportunities for millions. And their lifestyle choice is their choice – IMO, why should we have a viewpoint on that? And as far as their business choices are concerned, the regulatory system take care of it.”