Harsh Goenka, the current chairman of Mumbai-headquartered RPG Enterprises, recently took to social media platform X to share his views to Nithin Kamath‘s remarks on Indians being disparaging of rich people.

What Happened: Goenka, a billionaire himself, drew a line between “good” and “bad” billionaires, saying the former are celebrated by Indians, while the latter are disliked for flaunting their wealth and corrupting the system.

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Indians admire billionaires like Ratan Tata, Azim Premji, and Anand Mahindra, he said. They are celebrated for their humility, philanthropy, and strong values, and are role models for many.

What they find unappealing are individuals who openly display their wealth, undermine the system for their own benefit, and focus solely on personal gain rather than contributing to the well-being of society, the billionaire said.

Nithin Kamath, the founder and CEO of Zerodha, on being asked why being rich is looked down upon India, remarked that the Indian society is inherently socialists who are pretending to be capitalists compare to the US which he said is a “pure-bred” capitalistic society.

Kamath’s comment gathered widespread views and opinion on social media. The CEO further added that he does not see this trend changing in India anytime soon.

“As long as there’s going to be inequality in terms of wealth, I don’t really see anything changing around this,” Kamath said.

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