India's Richest Business Magnet Mukesh Ambani Plans To Set Up Family Council
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With over $80 billion fortune and being the wealthiest person in entire India, Mukesh Ambani has already started thinking about the future. With any more options to live with Mr. Mukesh Ambani wants his Reliance empire (Reliance Industries) to be in safe hands.
He does not wish to have another round of the personal family fight for the ownership rights of such a huge fortune. With his three children- Isha Ambani, Akash Ambani and Anant Ambani we cannot expect anything better for the Ambani family's optimistic future.
While the general belief in the whole RIL should be to have an ideal working understanding amongst all the members still learning from the past Mukesh Ambani has now decided to play it safe by making a prospected 'family council' for a solution based settlement of business ownership amongst the Ambani family members.
Nothing has been declared officially by the RIL but the media reports have already started popping out.
According to the business website LiveMint, in this family council, Ambani's three children Akash, Isha and Anant will be an adult member of the family as well. However, Reliance Industries has not given any official statement on this yet.
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It has been reported by quoting sources that apart from the three children, this council will have an adult member of the family and may also be a member from outside the family. Members outside the family will work as mentors and advisors.
Significantly, there was a long-standing dispute between Reliance's legacy between Mukesh Ambani and his brother Anil Ambani. Perhaps in view of this, Mukesh Ambani has decided to make this council.
In the coming time, Reliance Industries will be commanded by the children of Mukesh Ambani. Apparently, there can be a dispute over the stake of such a large asset later. Mukesh Ambani's wealth is around $ 80 billion.
A person aware of the matter said that by the end of next year, Mukesh Ambani will decide the successor of his business empire. So, if there is any dispute for further succession, the path will be found by this council and the effort of smooth transfer can be successful.
Significantly, after the death of Dhirubhai Ambani in the year 2002, there was a dispute for many years between Mukesh Ambani and Anil Ambani regarding the legacy of Reliance. After several years of hard work and mother Kokila Ben's intervention, the company was split into two. Mukesh Ambani got the business of Reliance Industries, while the communication, power, financial business came in the part of Anil Ambani.
Mukesh Ambani does not want to repeat the blunder or let's horrific case of 2002 when his beloved father Mr.Dhirubai Ambani's own empire was divided through a legal battle and while being on the top of the list of billionaires we can see how much it means to the Ambanis that the legacy is maintained.