Vijay Shekhar Sharma is a 41 year old Indian entrepreneur who is the CEO and founder of the digital wallet and e commerce company PayTM.
In this article, you will learn about Vijay Shekhar Sharma income, earnings, salary, early life and other information.
Vijay Shekhar Sharma Life
Vijay Shekhar Sharma was born on 8th July 1978 in the city of Aligarh in Uttar Pradesh, India. He passed secondary school at a very young age of 14 as he was very smart and started college at Delhi College of Engineering at the age of 16 from where he passed out at the age of 19.
He had trouble with his proficiency in English throughout college so much so he had to study the same subject in English and Hindi.
He launched XS Communications, a startup that was college based which created Content Management Systems, like WordPress. Major publications like The Indian Express used their content management systems. He started the website indiasite.net in 1997 which he later sold two years later for 1 million dollars.
In 2000, he started One97 communications, which would go on to become the parent company of PayTM later. One97 had cricket scores, jokes, exam results and things like that initially. Sharma ended up with a loan of 8 lakh rupees and had to do things like deliver guest lectures and set up LAN connections to pay the huge interest.
He had to invest 2 million dollars of his own money for setting up PayTM in 2010. PayTM started off for facilitating prepaid mobile recharge and DTH recharge but it soon added postpaid recharge, data card and landline bill payments.
PayTM has seen a meteoric rise after the Indian government’s move to demonetize the 500 and 1000 rupee notes, thus shifting a huge population to using digital wallets, including lots of businesses.
VIJAY SHEKHAR SHARMA INCOME 2020: 2.6 BILLION DOLLARS
Vijay Shekhar Sharma Income
Vijay Shekhar Sharma income comes from his stake in One97 Communications and the different PayTM companies. Sharma owns 51% of PayTM Payments Bank himself and 10% of it via a subsidiary company, a virtual bank PayTM set up to provide banking facilities to millions of people who don’t have access to banks.
Vijay Shekhar Sharma earnings also come from his stake in PayTM itself and the PayTM Mall apps.
Under Sharma, PayTM has seen a lot of investments and acquisitions which has only helped his net worth. PayTM received investments of 10 million dollars from SAP Ventures. In 2018, the famous Berkshire Hathaway invested 300 million dollars in PayTM for a 3 to 4 per cent stake.
PayTM, and then PayTM mall received a 200 million dollars invested from Chinese e-commerce giant Alibaba and Alibaba also took 40 percent stake in One97 Communications. PayTM also received investments from Taiwan based Mountain Capital and a mammoth 1.7 billion dollars investment from Softbank, taking its valuation to over 10 billion dollars.
PayTM has also acquired a lot of companies. In 2017, it acquired Insider.in, along with investing in auto rickshaw aggregator Jugnoo. It invested in logistics startups XPressBees and LogiNext and bought Nearbuy and Little, and merged the two companies together.
Vijay Shekhar Sharma net worth is currently 2.6 billion dollars. He also takes a yearly salary of Rs. 3.1 crores as the CEO of PayTM.
Vijay Shekhar Sharma House and Cars
Vijay Shekhar Sharma house includes a property he bought in New Delhi’s posh Golf Links area for Rs. 82 crores in an area with some of the country’s most expensive real estate. He owns an almost 6000 square feet property.
Vijay Shekhar Sharma cars information is not publicly known. But he has expressed interest in owning electric cars as he sees them as it doesn’t affect the environment.
We will update this article with more information as soon as we get to know anything about it.
Vijay Shankar Sharma is one of the most celebrated start up founders in India. He has shown that to be successful, one does not need to be an IIT or IIM graduate and should have proper plans and ambitions. He idolizes Alibaba’s Jack Ma and Softbank’s Masoyashi Son as his gurus who he has followed on his road to success.
Sharma was inducted into the Forbes Billionaires List in 2017 and he was the youngest Indian on that list at the age of 39. Under him, PayTM has received national and global attention. PayTM became the sponsor for all the national and international cricket matches for four years in 2015. PayTM also became the title sponsor for IPL for the 8th season.
Sharma is generally very grounded and has not forgotten his humble roots as is shown in many different interviews and lectures which he gives. He is known to be an aviation geek and posts about aviation quite frequently on Twitter.
PayTM under Vijay Shekhar Sharma is only growing in size and does not seem like it is going to stop anytime soon. Within a matter of years, PayTM has emerged to be the 2nd most valued startup in India after Flipkart. They are acquiring companies which help their services and are incorporating more and more services on their platform.