Gautam Adani, the second richest person in India with a real-time net worth of Rs 714460 crore (USD 85.5 billion) according to Forbes, leads his Adani Enterprises, a company boasting a market cap of Rs 3.64 lakh crore. Adani continues to expand his business empire with several new projects. However, despite his immense wealth, his salary is surprisingly modest.
In the fiscal year ended March 31, 2024, Adani received a total remuneration of Rs 9.26 crore. This salary comes from only two out of the ten companies in his ports-to-energy conglomerate, as revealed by the annual reports of the group’s 10 listed entities.
His remuneration for 2023-24 from Adani Enterprises Ltd (AEL), the group’s flagship firm, included a Rs 2.19 crore salary and additional benefits like perquisites, allowances, and other benefits amounting to Rs 27 lakh. This total remuneration of Rs 2.46 crore represents a 3 per cent increase compared to the previous financial year, according to AEL’s 2023-24 annual report. Additionally, he received Rs 6.8 crore from Adani Ports and SEZ Ltd (APSEZ).
Adani’s salary is significantly lower than the heads of almost all large family-owned conglomerates in India. India’s richest man, Mukesh Ambani, has been foregoing his entire salary since the Covid-19 pandemic began. Prior to that, he had capped his remuneration at Rs 15 crore. Adani’s remuneration pales in comparison to other prominent figures like telecom czar 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.
This information sheds light on the stark contrast between Adani’s wealth and his comparatively modest salary, prompting questions about his financial priorities and the broader implications for leadership compensation within India’s business landscape.
