The $213 billion handover: Who will succeed Gautam Adani
Gautam Adani, the chairman of the Adani Group and India's second-richest man, has disclosed his succession plan for his $213 billion empire. In a conversation with Bloomberg, the 62-year-old business magnate revealed that he intends to retire at 70 and pass on control of his vast conglomerate to his sons and their cousins by the early 2030s. The heirs include Karan and Jeet Adani (his sons), as well as Pranav and Sagar Adani (their cousins).
Adani's heirs to receive equal shares in family trust
The four heirs—Karan, Jeet, Pranav, and Sagar—are set to receive equal shares in the family trust. This announcement comes after Adani Group has managed to recover from the loses caused by allegations from US short-seller Hindenburg in January 2023. The damning report at one point wiped off $153 billion from Adani Group's market value. As of today, Gautam is 12th on Bloomberg's list of the world's richest individuals with a net worth of $110B. Mukesh Ambani is ranked 11th ($113B).
Heirs already hold key positions in Adani Group
The designated successors are already holding significant positions within the Adani Group. Pranav (45) serves as the Managing Director of Agro, Oil & Gas, and Director of Adani Enterprises. Karan (37) oversees established businesses like cement, ports, and logistics as the Managing Director of Adani Ports and SEZ Limited (APSEZ). Sagar (30) is in charge of the group's energy business and finance sector while Jeet (26), director of Adani Airports, manages India's largest private airport network and supervises digital businesses.
Gautam expresses confidence in his heirs
Gautam has expressed his faith in the capabilities of his successors. He stated, "I am happy that all of them are hungry for growth, which is not common in the second generation." Each heir has demonstrated their commitment to growth through various initiatives within their respective sectors. As for the vacated Chairman's post in the future, Pranav and Karan are the most likely candidates.
