Gautam Adani, Asia’s second-richest man, finally has a succession plan for his company

One of Asia’s richest men said the next generation is ready to take over his sprawling company – but it won’t happen for at least eight years.

Gautam Adani, 62 years old, announced his intention to retire at 70 from the Adani Group, Bloomberg reported on Monday.

Founded in 1988, the Adani Group has substantial interests in energy, logistics, and infrastructure and aims to make India “a significant player in sustainable energy, and self-reliant in defence and security,” according to a profile on the company website.

According to the Bloomberg Billionaires Index, Adani Enterprises, the group’s main company, reported revenue of US$11.6 billion in 2024, and Adani himself owns a 75 per cent stake.

Adani’s retirement paves the way for his sons and nephews to take over the sprawling family conglomerate by the early 2030s. The transition will occur gradually, and Adani’s successors will run the company collectively, he told Bloomberg.

Most Asian family business leaders are not keen on retirement, leading to what family business professor Marleen Dieleman called “King Charles syndrome,” where the next generation takes over past its prime.

Gautam Adani stepping aside early is a positive sign, said Dieleman, who works at IMD Business School in Switzerland.

“It is good to see this level of planning and preparation,” Dieleman told Business Insider.

Karan Adani, Gautam’s elder son, will oversee cement, ports, and logistics, while Jeet Adani, the younger son, will handle airports, digital ventures, and defence. Nephews Pranav and Sagar will manage consumer businesses, communications, energy, and finance. Adani has not yet announced a successor for chairman, Bloomberg reported.

While Adani’s public announcement of the transition sets a positive