Is India’s Mukesh Ambani seeking to share his US$200 billion Reliance Industries empire with his three children?
- The 63-year-old tycoon wants to radically reduce his conglomerate’s dependence on the energy sector through diversification
- His three Ivy League-educated children already play an active role in reorienting the colossal enterprise, and analysts say this is a sign they could take over soon
But Asia’s richest man also has another goal in mind: carving up his US$200 billion empire into three business areas to bestow upon his children Akash, Isha, and Anant.
There have been no public announcements about the succession. But market watchers who have scrutinised the fortunes of India’s most influential business leader have interpreted the 63-year-old Ambani’s move to radically reduce his conglomerate’s dependence on the energy sector, diversify into retail and digital services and rejig company shareholdings as a sign he is preparing for a generational transition.
“Reliance is well known for its meticulous planning and execution,” said corporate lawyer Rajesh Gupta, who has advised clients on wealth and succession planning.
Added the managing partner at SNG & Partners: “All these developments must have come after serious deliberations among senior professionals and the family.”
