Zerodha co-founder Nithin Kamath refutes claims of gifting luxury cars to employees

A viral LinkedIn post claiming that Zerodha co-founder Nithin Kamath gifted over 20 luxury cars to top employees in 2023 has been debunked as false by Kamath himself.

The now-deleted post, shared by finance educator Minal Udeshi, had praised the supposed gesture as a brilliant example of "strategic compensation." Udeshi suggested that gifting cars—ranging from BMWs to Audis and Mercedes-Benz—was not only a heartfelt move but also a tax-efficient alternative to traditional bonuses. She highlighted the lower tax liability associated with non-cash perks, positioning the idea as a smart, emotionally impactful way to reward loyalty.

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The post quickly gained traction online, sparking admiration for what many believed was a modern approach to corporate compensation. Social media users lauded Kamath as a forward-thinking leader blending emotional intelligence with financial savvy.

However, the narrative unraveled when Kamath himself stepped in to clarify. In a statement reported by Business Today, he categorically denied the story, saying, “What!!! Unless there is some other Nithin Kamath from Zerodha, this is definitely not true.”

Kamath’s response quashed the speculation, underlining how rapidly misinformation can spread through social media. While no such reward scheme existed at Zerodha, the post prompted broader discussions around employee incentives, tax strategies, and how corporations might creatively engage top talent in an evolving workplace culture.