I used my income so he could focus on Zoho, now he says I own just 5% of it: Vembu’s wife
The story of Sridhar Vembu, the billionaire founder of Zoho, is one of rags to riches. From humble beginnings to building a software empire, Vembu’s journey is an inspiration to many. However, a recent revelation has shed light on a different aspect of his life, one that raises questions about the ownership of Zoho and the role of his wife, Pramila Srinivasan, in the company’s success.
According to Srinivasan, she used her income to support Vembu when he quit his job to focus on building Zoho. This was a crucial period in the company’s early days, and Srinivasan’s financial support allowed Vembu to dedicate himself to the business without worrying about the financial implications. However, in a shocking turn of events, Vembu has now claimed that Srinivasan owns just 5% of the company, a statement that has left her feeling betrayed and shocked.
The news came to light after Vembu filed for divorce, and the couple’s marital assets, including their stake in Zoho, came under scrutiny. Srinivasan was stunned to learn that Vembu had claimed such a small ownership stake for her, considering the significant role she had played in supporting the company’s early growth. “I felt shocked to learn only after he filed for divorce that he claimed to own just 5% of the company he’d spent our marriage building,” Srinivasan said in a statement.
The situation has become even more complex with the revelation that Vembu’s sister, Radha, is the largest shareholder of Zoho, with a 47.8% stake. This has raised questions about the ownership structure of the company and how Vembu’s family members have benefited from the business. While Vembu’s success story is well-known, the role of his family members in the company’s growth and their current ownership stakes have not been widely reported.
The divorce case has also brought to light the immense wealth that Vembu has accumulated through Zoho. A US court has ordered him to post a $17 billion bond in the divorce case, a staggering amount that highlights the scale of his wealth. The bond is intended to ensure that Vembu does not transfer or hide assets during the divorce proceedings, and it is one of the largest such bonds ever ordered in a divorce case.
The case has also sparked a debate about the role of spouses in supporting entrepreneurs and the recognition they receive for their contributions. Srinivasan’s story is a reminder that many entrepreneurs rely on the support of their spouses, who often make significant sacrifices to help them build their businesses. However, when it comes to recognizing their contributions and rewarding them with ownership stakes, the situation can become more complicated.
In the case of Vembu and Srinivasan, the dispute over the ownership stake has raised questions about the fairness of the arrangement. If Srinivasan’s income was used to support Vembu during the company’s early days, should she not be entitled to a larger share of the business? The fact that Vembu’s sister is the largest shareholder has added to the complexity of the situation, and it remains to be seen how the court will ultimately decide the matter.
As the divorce case continues to unfold, it will be interesting to see how the ownership structure of Zoho is resolved. The company has been a poster child for Indian entrepreneurship, and its success story has inspired many. However, the dispute over the ownership stake has raised questions about the internal dynamics of the company and the role of Vembu’s family members in its growth.
In conclusion, the story of Sridhar Vembu and Pramila Srinivasan is a complex one, with many twists and turns. While Vembu’s success story is well-known, the role of his wife and family members in the company’s growth is only now coming to light. As the divorce case continues to unfold, it will be interesting to see how the ownership structure of Zoho is ultimately resolved and what lessons can be learned from this experience.
News source: https://www.thenewsminute.com/news/exclusive-us-court-orders-sridhar-vembu-to-post-17-billion-bond-in-divorce-case
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