‘Wealth Isn’t The Issue’: Harsh Goenka Reacts To Nithin Kamath's Take On Rich People

Days after Zerodha CEO Nithin Kamath talked about how wealthy people were perceived in India, Businessman Harsh Goenka said that Indians were proud of success stories such as Ratan Tata or Azim Premji because they remained humble and associated with the welfare of society. This, Goenka said, was in contrast with corrupt and wealth-flaunting individuals.

The response came after Kamath said that the Indian society remained more socialist than capitalist leading to scepticism towards the perception of new wealth. At a recent Bangalore event, Kamath responded to a question from the host, Shradha Sharma, founder of YourStory: “Why do Indians hate rich people?”

She also explained that in the US, if a person earned a lot of money, had good business success, and could buy new cars, he went on the “cover page”.

The Zerodha CEO said the US was a “purebred capitalistic society,” while Indians were a “socialist-pretending-to-be-capitalistic society.” He added, “At the heart of it, we are all socialists.”

Goenka, who shared a video of the Zerodha CEO’s reaction, gave his take. He pointed out that “Indians celebrate good billionaires” like Ratan Tata, Azim Premji, and Anand Mahindra’s “humility, philanthropy and values”.

He further added that those who “flaunt wealth,” “corrupt the system” and prioritise “personal gain over societal good” are disliked, concluding that “wealth isn’t the issue—how it’s used is!”

A user mentioned, “In a country where 95% of the population still struggles for basic income, flaunting wealth will naturally lead to envy! Example: In films until the ’90s, the hero was always poor, the villain was always rich.”

Another user said, “Humility is most important. Of course, it is their wealth and they can use it in whichever way they want to use it, but Showing off is not good.”

A third user shared similar sentiments stating, “Exactly! Despite 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.”

Many users agreed with the discussion arguing billionaires, when they make an impact positively in people’s lives, are appreciated, while those who flaunt their wealth face backlash.