Gautam Adani, the second richest man in India and the chairman of the Adani Group, is 62 years old and plans to retire in the early 2030s. In a recent interview with Bloomberg, Adani, who has amassed a vast empire valued at $213 billion, disclosed his succession plan and stated that he intends to hand the reins to the following generation after he turns 70.
His two sons, Karan and Jeet, as well as their cousins Pranav and Sagar, hold the key to the Adani dynasty's future. Every member will have an equal stake in the family trust, guaranteeing the legacy and ongoing expansion of the conglomerate encompassing industries ranging from airports to edible oil.
A notable increase in the stock prices of Adani's companies helped him regain the title of Asia's wealthiest person in June, surpassing Reliance Industries Chairman Mukesh Ambani. In the Bloomberg Billionaires Index, Adani is currently ranked 11th in the world with a net worth of $111 billion, while Ambani is ranked 12th with a net worth of $109 billion.
There were difficulties along Adani's path to success. The Adani empire was rocked in January 2023 by the Hindenburg report, which accused it of corporate malfeasance, shell companies located offshore, and corruption.
According to the short seller, the claims were "the largest con in corporate history." Adani's fortune surged to the second-richest person in the world for a brief period, but the fallout from the report destroyed almost 60% of his wealth. Despite the setback, Adani's tenacity and astute actions enabled the conglomerate to bounce back and increase in value by $153 billion. Adani arose as a powerful force, solidifying his status as one of the world's foremost industrialists, while the group refuted all of the accusations.
Adani expressed confidence in his heirs' abilities as he thought about the future. He remarked in the interview, “I am happy that all of them are hungry for growth, which is not common in the second generation." He further added, "They have to work together to build a legacy."
Throughout the Adani Group's various divisions, Pranav, Karan, Sagar, and Jeet Adani occupy prominent roles.
