The Richest Businessman in Asia Promised to Give Away His Business but Revealed an Unexpected Condition.

Billionaire Adani Plans to Transfer Business to His Heirs

Indian billionaire Gautam Adani, whose wealth exceeds $100 billion, announced his intention to transfer his business to the Adani Group, which has a capitalization of over $200 billion. Bloomberg reports this. According to Adani, he plans to make this move in 2030, when he turns 70 years old.

"Succession is of great importance for business stability. I have chosen the next generation, as the transition to new leadership should be organic, gradual, and systematic," Adani said.

According to the agency, the heirs of the business will be sons Karan and Jeet, as well as their cousins Pranav and Sagar. Additionally, Karan and Jeet are the main candidates for the position of head of the Indian industrial conglomerate, which manages ports, airports, power production, and mining. The group has also had regulatory issues in India and the USA.

Adani's Sons Are the Most Likely Next Leaders of the Company

The two sons are considered the top candidates for the position of head of the large industrial conglomerate, which specializes in port, airport management, power generation and transmission, renewable energy utilization, and mining.

Elder son Karan Adani is the managing director of Adani Ports, while his younger brother Jeet heads Adani Airports. Their cousins Pranav and Sagar lead Adani Enterprises and Adani Green Energy, respectively.

Recently, Gautam Adani's business faced challenges, with the conglomerate being at the center of disputes related to business and accounting practices and a bribery investigation by the U.S. Department of Justice. New York-based Hindenburg Research accused the company of "the largest fraud in corporate history." The accusation involved using the Adani Group’s network of companies to vastly inflate profits and manipulate stock prices, despite accumulating debt. The group denied all allegations, but the scandals significantly slashed its value by $153 billion.

It is worth noting that inheritance rules have been changed in Ukraine.