Wealth creation, division, division and handing over the helm to a new generation is a complex problem.

- This problem is more challenging for entrepreneurs, not just the division of wealth, but the need to determine how the new generation will run the business empire, at what heights.

Along with wealth creation, its enrichment and division into future generations is an art. This week, there were reports of plans by Mukesh Ambani, Asia's richest man, to pass on his 5 billion fortune to the next generation. On the other hand, a family feud has erupted over the જા 100 billion fortune of a Hinduja family living in London, even of Indian descent.

Mukesh Ambani, who once saw the bitterness of partition, has started studying how the world's top industries and families get their wealth to the next generation so that the pace of wealth creation does not stop, the painful story of partition is not seen again in the family. Mukesh Ambani and his wife Nita Ambani have three children - two sons and a daughter. As the head of the Ambani family, he will set up an investment trust in which the holding and any other assets of the Ambani family will be transferred. The trust will have family members, select people associated with the Ambani family over the years and outside experts. The main job of the trust will be to oversee and the business will be run by people who are professionally engaged.

The Tata Group, the country's largest industrial conglomerate, is owned by a company called Tata Sons Limited. Tata Sons holds stakes in each listed and unlisted company of the group. Each company is governed by a professionally appointed board with the group chairman as the key person on behalf of Tata Sons. Mukesh Ambani is moving in this direction but there is a difference.

The division of wealth means how many crores of rupees came in whose part. But the biggest challenge is for the business to continue to grow, grow and meet the challenges of the future. That is why Zille needs અને 50 billion in assets, India's largest private oil refining capacity in Asia's richest, mobile telecom company and retail Planning is required.

Mukesh Ambani has been giving a new direction to Reliance for almost two decades. Today, a textile mill is a company generating revenue of Rs 3 lakh crore a year. The time has come to create a huge opportunity in new business. If the helm falls into the hands of a new person, his leadership, his foresight and his ideas should be in line with the strategic interests of the company. And that is why Mukesh Ambani is thinking of having two different people to carry out the day to day business of the company and for long term planning.

Ambani's idea is based on Walmart, which has 16,000 stores worldwide and has been running for six decades, earning વર્ષે 200 billion a year. Walmart was founded by Bud and Sam Walton. Today members of the Walton family are on the board of Walmart but only for directional, professional management for day-to-day work. Even today, Walton Family owns 9% stake in Walmart, and the family is considered the richest in the world, not just in the United States. The legacy of wealth in his family and how the new generation will work in the business is noted in the world of planning and strategy. It is said that Sam Walton planned the business success 30 years before his death.

This family owned business and its planning is an art. The corporate history in India has seen a split in the new generation in the cases of veteran first generation entrepreneurs like Rahul Bajaj, Birla, OP Jindal, Rama Prasad Goenka. In some cases the business has reached new heights while sometimes one sector has seen growth and the other has seen losses. Disagreement is always born of disbelief. It was a decade and a half ago in the Ambani family that Mukesh and Anil Ambani parted ways. Today, Anil Ambani is heavily indebted, some of his companies are facing bankruptcy cases while his elder brother is one step ahead of his father Dhirubhai in wealth creation.

Such a bitter incident is being witnessed in the Hinduja family now. The family has been the same for a hundred years. At present, Srichand Hinduja and his three brothers run various companies and a vast empire spread over six countries. Srichand always says that the property of the family does not belong to any one, all belong to it. Also, his only daughter V is now seeking a share from the uncles. Vinu alleges that the father is ill so the uncles are taking advantage of him and now divide the property, business and industry. The case has reached the courts of London and Switzerland.

That is why Mukesh Ambani is now thinking with foresight about how the business will move forward, who will grow and how the division of wealth and creation of new wealth in the future should take place. Mukesh Ambani is not alone. According to a report by Credit Suisse, the world's leading investment bank, there are about 1,000 companies in the world, valued at more than double the total size of the Indian economy, or 2.7 trillion, owned by family entrepreneurs. Such companies are valued at ૫ 1.5 trillion in India. Every family faces this challenge when one generation thinks of handing over the helm to another generation. One of these weak decisions can be detrimental.