Gautam Adani’s salary in FY24: At Rs 9.26 cr, Asia’s 2nd richest man’s pay is less than Sunil Mittal, Rajiv Bajaj and other peers
gautam adani’s salary in fy24: at rs 9.26 cr, asia’s 2nd richest man’s pay is less than sunil mittal, rajiv bajaj and other peers
India’s leading businessman, Gautam Adani, who consistently ranks in the top two or three on all India and Asia rich lists, earned a total pay of Rs 9.26 crore in the fiscal year ending March 31, 2024. Surprisingly, he earned less than most of his Indian industry rivals and even his own key employees.
Gautam Adani net worth
According to the latest annual report of Adani Enterprises, Adani received a salary from only two of his ports-to-energy conglomerate's ten listed corporations.
His pay for 2023-24 from the group's main firm Adani Enterprises Ltd (AEL) was Rs 2.19 crore, with perquisites, allowances, and other benefits totaling Rs 27 lakh. The total remuneration of Rs 2.46 crore was 3% higher than the previous fiscal year, according to AEL's 2023-24 annual report.
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Additionally, Adani received Rs 6.8 crore from Adani Ports and SEZ Ltd (APSEZ). Adani's compensation is lower than that of nearly every significant family-owned firm in India.
While Mukesh Ambani, India's richest man, has been foregoing his entire salary since Covid-19 broke out, prior to which he had capped his remuneration at Rs 15 crore, Adani's remuneration is significantly lower than that of 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.
Gautam Adani’s, who’s net worth is around USD 106 billion according to the Bloomberg Billionaire Index, has been competing with Ambani for the title of Asia's richest person.
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He became the richest Asian in 2022 but lost that status when a devastating study by US short-seller Hindenburg Research knocked away about USD 150 billion of the market value of his group's stock.
According to the annual report, Adani's younger brother Rajesh received Rs 8.37 crore, including a Rs 4.71 crore profit commission from AEL, and his nephew Pranav Adani received Rs 6.46 crore, including a Rs 4.5 crore commission.
Gautam Adani received Rs 5 crore from APSEZ instead of a commission from AEL. The APSEZ remuneration included a salary of Rs 1.8 crore and a commission of Rs 5 crore, which will be paid in the fiscal year 2024-25, according to the company's annual report. His son, Karan, made Rs 3.9 crore from APSEZ.
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Within this, Vinay Prakash, a prominent executive and director on the AEL board, received a total compensation of Rs 89.37 crore. Group CFO Jugeshinder Singh received Rs. 9.45. Within this, S B Khyalia, CEO of Adani Power got Rs 5.63 crore.
Meanwhile, Gautam Adani's brother, nephew, and son did not get salary from many companies.
"We reported an average remuneration increase of 12 per cent for employees, excluding key managerial personnel (KMPs), with a slightly higher increase of 5.37 per cent for KMPs," the AEL annual report said.