Gautam Adani plans to retire at 70, transfer power to sons and nephews

Adani Group chairman Gautam Adani intends to retire at 70. The 62-year-old billionaire has revealed his blueprint for the future, saying he will transfer control of his business empire to his two sons and two nephews by the early 2030s.

The Adani Group comprises 10 listed companies with a market capitalisation worth $213 billion, and the conglomerate’s businesses include ports, shipping, infrastructure renewable energy, solar power and cement production among others.

“Succession is very, very important for the business sustainability,” said the self-made, first-generation tycoon while discussing the future of his conglomerate in a Bloomberg interview, adding that he had left it to the next generation to ensure the transition was organic, gradual and systematic.

Post Gautam Adani’s stepping down his sons, Karan and Jeet, and nephews, Pranav and Sagar, will be equal heirs to the family trust with a classified agreement executing the transfer of stakes, the Bloomberg report said.

In a discussion he held with his sons and nephews, Gautam Adani wanted to know if they preferred going their own ways after he handed over the reins of the business to them, or staying united as a single entity. He gave them three months’ time to arrive at a decision, to ensure a smooth transition. His sons and nephews replied they would prefer running the Adani Group as a family business after he stepped down.

“That answer set in motion a series of moves, many of which have escaped public attention, such as the creation of a four-way leadership structure that splits management of the businesses but requires the heirs to work together. Their areas of responsibility do not neatly align with specific units or listed entities. Even common services across the group — such as human resources, finance and IT support — have been carved up among the four,” the report said.