Latest news with #Vaibhav
India.com
2 days ago
- Business
- India.com
Meet man, an Indian, who manages the finances of the world's richest person Musk, earns Rs 11500000000 salary, not from IIT, IIM, name is....
Meet man, an Indian, who manages the finances of the world's richest person Musk, earns Rs 11500000000 salary, not from IIT, IIM, name is.... Elon Musk is the richest person in the world. His electric car company, Tesla, has recently entered the Indian market. While Musk's companies have thousands of employees, he chose Indian-origin Tesla executive Vaibhav Taneja as treasurer and custodian of records for Musk's newly launched political party, called the 'America Party'. Before getting the role f Treasurer, Taneja was the CFO (Chief Financial Officer) of Tesla. This means that Vaibhav is in charge of all the finances, not just for Tesla, but also for Musk's political ambitions. He has been working with Musk since 2017, and over the years, Musk has kept giving him more and more key responsibilities. Who is Vaibhav Taneja, the Indian behind Tesla's finances Vaibhav Taneja comes from India. He studied Commerce at Delhi University and finished his degree in 1999. The next year, in 2000, he became a Chartered Accountant (CA). In 2006, he moved to the United States for higher studies and earned a CPA (Certified Public Accountant) qualification. Before joining Tesla in 2017, Vaibhav worked at SolarCity, which later became part of Tesla. Earlier, he spent almost 17 years at PricewaterhouseCoopers (PwC), where he helped over 500 clients with financial planning and IPO filings. In 2023, he was promoted to Chief Financial Officer (CFO) of Tesla. In 2024, he earned a total salary of about USD 139.5 million, which is roughly Rs. 1,157 crore in Indian currency. What's interesting is that his base salary was just USD 400,000, but most of his earnings came from Tesla stock options and equity awards, which made his total income much higher. Apart from being Tesla's CFO, Vaibhav is also the Director of Tesla India Motors and Energy Pvt. Ltd. He plays a big role in growing Tesla's presence in India, and was closely involved in opening the company's first showroom in the country. Vaibhav also handles finances for Elon Musk's political party, called the America Party. As the Treasurer, he looks after donations, ensures financial transparency, and makes sure all money matters follow legal rules. From regular expenses to managing election funds, Vaibhav is responsible for it all. Elon Musk launches 'America Party' after breaking ties with Donald Trump After falling out with his former ally Donald Trump, Elon Musk has launched a new political group called the America Party. He shared the news on X (formerly Twitter), saying the party was created to challenge what he called America's 'one-party system.' Musk wrote, 'Today, the America Party is formed to give you back your freedom.' He also added, 'When it comes to wasting money and corruption, both parties act the same. It's not a real democracy — it's a one-party system.' On July 1, just after the Senate passed a new tax and spending bill, Musk posted: 'If this crazy bill is passed, I'll launch the America Party the very next day. Our country needs a real choice, not just Democrats and Republicans pretending to be different.'
NDTV
3 days ago
- Business
- NDTV
Indian Couple Builds 18-Property Empire In Australia, Reveals Bold Strategy
Rasti Vaibhav and Rupali Rastogi, an Indian couple who moved to Australia with modest means, are gaining widespread attention for their remarkable success. According to Daily Mail, the couple came to Australia in 2006 and have since built an impressive property investment portfolio, now owning 18 properties at an estimated $11.3 million. The couple, with IT and banking experience, started their investment journey in 2011 with a 10% mortgage deposit. They began by buying land and building a $440,000, four-bedroom house in Fletcher, a suburb of Newcastle. Their properties are strategically located in areas such as Sydney's outer west, Melbourne's north, Brisbane's fringes, and south of Perth. According to Mr. Vaibhav, one of the biggest mistakes Australians make is prioritising saving for a mortgage deposit to live in a desirable suburb as owner-occupiers, only to find prices have surged out of reach. They argue that buying a home to live in may not be the most strategic decision for Australians, citing the potential benefits of investing in property instead. "It's very emotional - I live in my own home and I can choose to change the décor as and when I like it" - but just be aware that it's very costly. The traditional way of what people have learnt about debt... is that "I need to have my own home and then when I am paid off, then I'll be looking at investments," Mr Vaibhav told Daily Mail Australia. The couple has flipped the traditional approach to homeownership. Instead of buying a $3.5 million home in a desirable Sydney suburb, they're renting a place in Narraweena for $100,000 a year. Meanwhile, they've built a substantial property portfolio that's likely to appreciate faster than wages. Mr. Vaibhav noted that paying $230,000 annually in mortgage repayments for a similar home nearby wasn't worth it. Sydney's median house price is around $1.6 million, making it challenging for first-home buyers to save for a 20% deposit and afford stamp duty. "They have to keep saving, keep earning and if you look at the average rate of saving, that will take a few years for them to get to that point, but by the time they get there, the price has already shot up further. It becomes unaffordable for a lot of people on average. We chose the path that's not so conventional. It's much easier to think about rent-vesting. Live where you want to live for the lifestyle, for the friends, for the school, for the workplace," Mr Vaibhav remarked. After living in Epping, they moved to Sydney's northern beaches, renting in North Curl Curl and later Narraweena, to be close to a selective school and the ocean. Their daughter's desire to live near the beach drove the decision, and they preferred renting to achieve this lifestyle rather than buying a house in a far-off suburb. "When people can't afford to live in their desired suburb, what they do is they go a bit more further and when they're priced out, they go further out and all of a sudden, they realise they are so much (more west) to the CBD that they're spending about one-and-half hours one-way to their workplace. To us, saving those three hours per day is more important. It's also about the time and the peace that they're able to spend time with their loved ones in pursuing their hobbies that they want to do," he added. Mr. Vaibhav and his wife prioritise building a property portfolio and enjoying a desirable lifestyle over homeownership. Despite the risk of eviction, they choose to rent in an upmarket suburb, securing fixed-term leases for stability. The couple has experience with renting, having lived in eight properties since moving to Australia in 2006. The family plans to buy their dream home eventually, but is prioritising building their investment portfolio first. They intend to sell some of their properties to fund the purchase of their own home. "We have just delayed our buying a home - it doesn't mean that we'll never own our own home," Mr Vaibhav said.
Deccan Herald
4 days ago
- Deccan Herald
Three held with drugs on Kanwar Yatra route in UP's Muzaffarnagar
Circle Officer Raju Kumar Sab said a case has been registered against Vaibhav, Gulshan Kumar, and Krishan Kumar under the provisions of the Narcotic Drugs and Psychotropic Substances (NDPS) Act.
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Business Standard
4 days ago
- Business Standard
Three held with drugs on Kanwar Yatra route in Muzaffarnagar: UP Police
They also seized Rs 19,450 in cash from the trio during the arrest under the Civil Lines area here on Sunday evening, officials said Press Trust of India Muzaffarnagar Police have arrested three people for allegedly supplying drugs along the Kanwar Yatra route here and seized contraband from them, officials said on Monday. They also seized Rs 19,450 in cash from the trio during the arrest under the Civil Lines area here on Sunday evening, officials said. Circle Officer Raju Kumar Sab said a case has been registered against Vaibhav, Gulshan Kumar, and Krishan Kumar under the provisions of the Narcotic Drugs and Psychotropic Substances (NDPS) Act. On Sunday, thousands of kanwariyas (Lord Shiva devotees), heading back from Haridwar in Uttarakhand with Gangajal, were greeted by Uttar Pradesh Chief Minister Yogi Adityanath with a helicopter showering flowers on them in Muzaffarnagar. Authorities have implemented tight security measures along the Kanwar Yatra routes. The Yatra concludes on July 23, when the pilgrims will return home after offering the holy water from the Ganges at Shiva temples on their way. As he welcomed the pilgrims, Adityanath claimed that some people were trying to defame the Kanwar Yatra on social media and urged every 'Kanwar Sangh' to expose such troublemakers. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
News18
4 days ago
- Sport
- News18
India U19 Vs England U19 2nd Youth Test LIVE Score: Toss Delayed Due To Rain
IND-U19 vs ENG-U19 Live Cricket Score, 2nd Youth Test: With his gluttonous appetite for runs, wunderkind Vaibhav Suryavanshi is making his presence felt in England. He has been signing autographs, obliging requests for selfies and even making fans drive long hours to get a glimpse of him. Having become a household name in India after his record-breaking century in the Indian Premier League, the 14-year-old from Bihar is now attracting eyeballs on the U-19 tour of the United Kingdom. Today starts the final match of this one-month tour, as India take on England in the second and last Youth Test of the series. Can Vaibhav put up a show with the bat again, or will the English bowlers stop his run-scoring spree? Stay tuned for all updates:
