- Mukesh Ambani is the richest businessman in India and Asia.
- 20 208 billion umpires ready to be handed over to the new generation?
- Ambani knows how the billionaires of the world share.
According to sources, 64-year-old Mukesh Ambani likes Walmart Inc’s Walton Family model the most. It wants to put the family’s stake in a trust that will control the country’s most valuable company, Reliance Industries Ltd. Mukesh Ambani, his wife Nita Ambani and three children will be partners in the new entity and will also be board members. Trusted members of the Ambani family will act as advisors on the board.
According to sources, the management of the company will be in the hands of professionals who will handle Reliance and its business. Reliance’s business ranges from refining, petrochemicals to telecommunications, e-commerce and green energy. Mukesh Ambani is currently considering several options and has not taken any final decision. For more information, Bloomberg News reached out to people associated with Reliance and Mukesh Ambani but did not get any response.
Mukesh Ambani has not announced his resignation from the post of Chairman and Managing Director of Reliance, but now his children are more active in the business. Addressing shareholders in June, Mukesh Ambani indicated that his children Akash, Isha and Anant Reliance will play important roles. Mukesh Ambani wants to be more cautious in view of the controversy between him and Anil Ambani.
According to sources, Mukesh Ambani liked Walmart Inc’s Walmart family model the most. After the death of company founder Sam Walton in 1992, Ambani liked the way his business was transferred. The world’s richest family has delegated the day-to-day business of the company to the managers and set up a board to oversee it since 1988. Sam’s eldest son Rob Walton and nephew Stuart Walton were on board. Sam Walton began work on the project in 1953, 40 years before his death. He divided 80 percent of his family business with four children.