By Frank KamuntuÂ
If Adani’s wealth continues to grow at its current rate of 123% annually, he could become a trillionaire by 2028.
Elon Musk, with a net worth of $251 billion as reported by the Bloomberg Billionaires Index, holds the title of the world’s richest person. A forecast from Connect Academy predicts that Musk could achieve trillionaire status by 2027, provided his wealth continues to grow at an average annual rate of 110%.
According to the same report, India’s Gautam Adani, founder of the Adani Group, is expected to be the second person to reach trillionaire status. If Adani’s wealth continues to grow at its current rate of 123% annually, he could become a trillionaire by 2028.
Gautam Adani, with a net worth of ₹7,04,196 crore, currently ranks as the second richest person in India. He oversees a wide range of business ventures through the Adani Group, with Adani Ports being a key company within the group. In a major initiative, the Adani Group, under Adani’s leadership, is planning a significant investment of ₹24,973 crore to boost its port operations, according to a report by Mint. The company is also closely monitoring the trade route between Europe and India as part of its strategic expansion.
Gautam Adani, with a real-time net worth of ₹7,14,460 crore (USD 85.5 billion) according to Forbes, is the second richest person in India. The 61-year-old heads Adani Enterprises, which has a market capitalization of ₹3.64 lakh crore, and continues to expand his business empire through various new projects. However, his salary is notably lower than many of his industry peers and even some of his own top executives.
For the fiscal year ending March 31, 2024, Adani received a total compensation of ₹9.26 crore. He drew a salary from only two of the ten companies within his ports-to-energy conglomerate, according to the annual reports of the group’s listed entities. From Adani Enterprises Ltd (AEL), the group’s flagship firm, he earned ₹2.19 crore in salary along with ₹27 lakh in benefits, totaling ₹2.46 crore—an increase of 3% from the previous year. Additionally, he earned ₹6.8 crore from Adani Ports and SEZ Ltd (APSEZ).
Adani’s earnings are modest compared to the heads of most large family-owned conglomerates in India. For instance, Mukesh Ambani, India’s richest man, has forgone his entire salary since the Covid-19 pandemic began, after previously capping it at ₹15 crore. Adani’s salary is also far below that of telecom tycoon Sunil Bharti Mittal (₹16.7 crore in 2022-23), Rajiv Bajaj (₹53.7 crore), Pawan Munjal (₹80 crore), L&T Chairman S N Subrahmanyan, and Infosys CEO Salil S Parekh.
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