Oct 20, 2024 02:48 PM IST
A few people called Zerodha’s Nikhil Kamath a “hypocrite” and “having double standards” after he revealed that he had purchased his 1st house.
Nikhil Kamath, who has been advocating renting a house over buying for years, recently revealed that he has given into the idea of homeownership and purchased his first house. This revelation, however, was not taken well by netizens, who made it a point to call out the Zerodha boss on various social media platforms. While some “called him privileged”, others said people shouldn’t listen to the billionaire’s advice.
What did X users say?
“Hey @NikhilKamath, so you preached that renting is better than buying a house, but then you went ahead and bought one yourself? Looks like your ‘renting’ advice was only for the poor folks, while you enjoyed the benefits of being a billionaire! #DoubleStandards #Hypocrisy,” wrote an X user.
Another social media user, expressing a similar sentiment, added, “Nikhil Kamath of Zerodha, after advocating for renting over buying, takes a U-turn and purchases a house. He’s misleading everyone who listened to his advice on his podcast. Buy or rent according to your own financial situation. These people give advice only for their own benefit.”
A third commented, “After denouncing the idea of buying a house and instead favouring to rent a place, Zerodha co-founder Nikhil Kamath has bought a house. Don’t believe in Influencers, no matter how rich they are. Buy a house whenever you can afford. You need a shelter for your family.”
Why did Nikhil Kamath buy a house?
“The thing with renting, of all the advantages of renting, there is one disadvantage: you don’t have foresight as to when you can move out of the house. I had to move out of this house, whereas I might have liked to stay longer in this house,” Kamath, known for favouring renting, said on an episode of his podcast, WTF is with Nikhil Kamath.
The episode featured Irfan Razack, Chairman & MD of Prestige Group, Karan Virwani, CEO of WeWork India, and Nirupa Shankar, Executive Director at Brigade Group as guests.