Gautam Adani's executives took home a higher pay than India's second richest man
Adani's earnings are significantly lower than those of telecom magnate Sunil Bharti Mittal (Rs 16.7 crore in 2022-23), Rajiv Bajaj (Rs 53.7 crore), Pawan Munjal (Rs 80 crore), L&T Chairman S N Subrahmanyan, and Infosys CEO Salil S Parekh.
- Jun 23, 2024,
- Updated Jun 23, 2024 2:16 PM IST
Gautam Adani, one of India's wealthiest individuals, took home a salary in the fiscal year ending March 31, 2024 that was lower than the earnings of many executives working under him. Adani, 61, received a total remuneration of Rs 9.26 crore, less than most industry peers.
Adani's earnings came from just two of the ten companies in his expansive ports-to-energy conglomerate. The annual reports of these ten listed entities revealed that he drew a Rs 2.46 crore salary from the group's flagship firm, Adani Enterprises Ltd (AEL), which included a Rs 2.19 crore salary and Rs 27 lakh in perquisites, allowances, and other benefits.
This amount was only a 3 percent increase from the previous financial year. Additionally, he earned Rs 6.8 crore from Adani Ports and SEZ Ltd (APSEZ).
Comparatively, Adani's salary is lower than the heads of almost all large family-owned conglomerates in India. While Mukesh Ambani, India's richest person, has forgone his entire salary since the Covid-19 pandemic and previously capped his remuneration at Rs 15 crore, Adani's earnings are significantly lower than those of telecom magnate Sunil Bharti Mittal (Rs 16.7 crore in 2022-23), Rajiv Bajaj (Rs 53.7 crore), Pawan Munjal (Rs 80 crore), L&T Chairman S N Subrahmanyan, and Infosys CEO Salil S Parekh.
Despite his substantial net worth of USD 106 billion, Adani's modest salary stands out. According to the Bloomberg Billionaire Index, Adani has been competing with Ambani for the title of the richest person in Asia. Although Adani became the richest Asian in 2022, he lost that position after a critical report by US short-seller Hindenburg Research led to a significant loss in market value for his group's stocks. He briefly regained the top spot twice this year but ultimately ceded it to Ambani, who is ranked 12th on the world's richest list with a net worth of USD 111 billion, while Adani is ranked 14th.
In contrast, Adani's younger brother Rajesh earned Rs 8.37 crore, including Rs 4.71 crore commission on profit from AEL, and his nephew Pranav Adani drew Rs 6.46 crore, including Rs 4.5 crore commission. Gautam Adani did not receive any commission from AEL but secured Rs 5 crore from APSEZ, which included a Rs 1.8 crore salary and a Rs 5 crore commission payable in the 2024-25 fiscal, according to the company's annual report.
Despite his wealth, Adani's remuneration remains comparatively lower than his peers, highlighting a unique aspect of his leadership and financial strategy.
Gautam Adani, one of India's wealthiest individuals, took home a salary in the fiscal year ending March 31, 2024 that was lower than the earnings of many executives working under him. Adani, 61, received a total remuneration of Rs 9.26 crore, less than most industry peers.
Adani's earnings came from just two of the ten companies in his expansive ports-to-energy conglomerate. The annual reports of these ten listed entities revealed that he drew a Rs 2.46 crore salary from the group's flagship firm, Adani Enterprises Ltd (AEL), which included a Rs 2.19 crore salary and Rs 27 lakh in perquisites, allowances, and other benefits.
This amount was only a 3 percent increase from the previous financial year. Additionally, he earned Rs 6.8 crore from Adani Ports and SEZ Ltd (APSEZ).
Comparatively, Adani's salary is lower than the heads of almost all large family-owned conglomerates in India. While Mukesh Ambani, India's richest person, has forgone his entire salary since the Covid-19 pandemic and previously capped his remuneration at Rs 15 crore, Adani's earnings are significantly lower than those of telecom magnate Sunil Bharti Mittal (Rs 16.7 crore in 2022-23), Rajiv Bajaj (Rs 53.7 crore), Pawan Munjal (Rs 80 crore), L&T Chairman S N Subrahmanyan, and Infosys CEO Salil S Parekh.
Despite his substantial net worth of USD 106 billion, Adani's modest salary stands out. According to the Bloomberg Billionaire Index, Adani has been competing with Ambani for the title of the richest person in Asia. Although Adani became the richest Asian in 2022, he lost that position after a critical report by US short-seller Hindenburg Research led to a significant loss in market value for his group's stocks. He briefly regained the top spot twice this year but ultimately ceded it to Ambani, who is ranked 12th on the world's richest list with a net worth of USD 111 billion, while Adani is ranked 14th.
In contrast, Adani's younger brother Rajesh earned Rs 8.37 crore, including Rs 4.71 crore commission on profit from AEL, and his nephew Pranav Adani drew Rs 6.46 crore, including Rs 4.5 crore commission. Gautam Adani did not receive any commission from AEL but secured Rs 5 crore from APSEZ, which included a Rs 1.8 crore salary and a Rs 5 crore commission payable in the 2024-25 fiscal, according to the company's annual report.
Despite his wealth, Adani's remuneration remains comparatively lower than his peers, highlighting a unique aspect of his leadership and financial strategy.