Passing down the family fortune: How to avoid the 'bitter fights' that destroy generational wealth.
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The 125-year-old Godrej family agreed to split its businesses in 2024.
- ✓Godrej said, "With the new generation taking over in both families, there were different ideas on how to take the businesses forward." This move highlights why Indian families must build strong governance to protect their growing wealth.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Economic Times
- Reading Speed
- 5 Minute(s)
- Market Focus
- India Economy
Managing Director, Kotak Mahindra Trusteeship Services Limited
When one of India's most respected business families, the 125-year-old Godrej family, agreed to split its businesses in 2024 between two branches, the rationale was not merely financial.
Jamshyd N. Godrej, Chairman & Managing Director of Godrej & Boyce Manufacturing Company Ltd, observed: "With the new generation taking over in both families, there were different ideas on how to take the businesses forward." In essence, the family acknowledged a reality increasingly faced by business families: that the third and fourth generations had divergent interests and views on corporate strategy, group growth plans, wealth management and more importantly, governance.
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Economic Times
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