Throughout history, the landscape of business empires has witnessed significant shifts and transformations, with family conglomerates taking centre stage. From Mukesh Ambani, the titan behind Reliance Industries and Asia’s wealthiest individual, to Bernard Arnault, the CEO of LVMH and a titan in the luxury goods sector, each name represents a legacy forged through perseverance and decades of hard work. While some of the world’s wealthiest individuals embarked on arduous journeys to success, many others were born into opulence. In 2024, some of the richest heirs in the world hail from renowned family enterprises with fortunes valued in the billions.
Inheritance and succession planning play pivotal roles in every family business, with the primary aim being to prepare the next generation to steward the enterprise forward, delineating clear boundaries and ensuring a perpetual source of wealth for the company. Consequently, a cohort of immensely affluent heirs has emerged, poised to inherit and helm their family’s business empires.
When Indian software tycoon Narayana Murthy bestowed upon his four-month-old grandson, Ekagrah Rohan Murty, 1.5 million Infosys shares, valued at Rs 210 crores (approximately USD 25 billion), it catapulted the infant into the ranks of the youngest billionaires and shareholders in Infosys.
According to Forbes, approximately one-third of the 2,781 individuals featured on the 2024 Billionaires ranking, totalling 934 individuals, inherited their fortunes from previous generations, collectively amounting to USD 5 trillion. This marked an increase from 827 individuals, with a combined wealth of USD 4 trillion, in 2023. Remarkably, this also marks the first time that the entire cohort of billionaires under 30 inherited their wealth.
This article profiles the heirs of some of the world’s wealthiest families who have assumed or are poised to assume key positions within their family businesses. While not following any particular order of the top richest families globally, it offers insights into the next-generation scions poised to carry forward the torch of their family legacies.
From expanding business empires to fortifying inherited fortunes, these heirs hold the potential to reshape the landscape of the world’s billionaires. Forbes unveiled its list on April 6, 2024, while Bloomberg featured India’s richest heirs on April 4, 2024, underscoring the emergence of a new era of economic titans.
Akash Ambani, Isha Ambani, and Anant Ambani
Source of Wealth: Reliance Industries
Parent: Mukesh Ambani
Family Wealth: USD 113.5 billion
The Ambani family, the driving force behind Reliance Industries, commands staggering wealth. Following their father’s passing, brothers Mukesh and Anil Ambani inherited Reliance, yet a familial rift led them down divergent paths. While Anil’s ventures faced adversity and his fortune waned, Mukesh’s leadership propelled him to the ranks of the world’s top 10 billionaires.
Akash Ambani, the elder son, spearheads Jio Infocom, Reliance’s telecom arm, with a reported net worth of USD 40 billion. His twin sister, Isha Ambani, serves as a non-executive director at Reliance Retail Ventures, with an estimated net worth exceeding USD 100 million. Meanwhile, Anant Ambani oversees renewable energy initiatives and is the visionary behind Vantara, an elephant sanctuary in Gujarat, boasting a net worth running into billions.
Delphine Arnault, Antoine Arnault, Jean Arnault, Frédéric Arnault, Alexandre Arnault
Source of Wealth: LVMH
Parent: Bernard Arnault
Family Wealth: USD 214.1 billion
As the progeny of Bernard Arnault, the world’s wealthiest individual, the five Arnault siblings occupy pivotal roles within the LVMH conglomerate. Emulating their father’s footsteps, they ascend the ranks, poised to inherit the luxury empire.
Delphine Arnault, 49, assumed the CEO mantle at Dior in 2023, boasting a rich pedigree in luxury management. Antoine Arnault, 46, oversees communications, image, and environmental initiatives for LVMH, while also chairing Christian Dior SE. Alexandre Arnault, 31, serves as the EVP of Product and Communications at Tiffany, having previously helmed Rimowa. Frédéric Arnault, 29, ascended to the CEO position at LVMH Watches in 2024, following a tenure at Tag Heuer. Lastly, Jean Arnault, 25, joined LVMH in 2021, spearheading marketing and development for Louis Vuitton’s watches division.
Mark Mateschitz
Source of Wealth: Red Bull
Parent: Dietrich Mateschitz
Net Worth: USD 38.7 billion
Mark Mateschitz, inheritor of his father’s 49% stake in Red Bull, emerges as one of the youngest billionaires, boasting a net worth of USD 38.7 billion. Leveraging his inheritance, Mark focuses on stewarding Red Bull’s legacy, with additional interests in real estate and the Red Bull F1 racing team. Notably, Red Bull dividends contributed USD 630 million over the past year.
Following his significant inheritance, Mark relinquished his role as Head of Organics at Red Bull, redirecting his efforts towards shareholder responsibilities. He also plays a pivotal role within the Red Bull Wings for Life Foundation, under his mother’s stewardship.
Karan and Jeet Adani
Source of Wealth: Adani Group
Parent: Gautam Adani
Family Wealth: USD 102.4 billion
Sons of India’s illustrious industrialist, Gautam Adani, Karan, and Jeet Adani emerge as the torchbearers of the Adani legacy. Karan, an economics graduate from Purdue University, succeeded his father as the Managing Director of Adani Ports and Special Economic Zone (APSEZ), boasting a net worth of USD 1.2 billion. Meanwhile, Jeet Adani, following his induction into the Adani Group in 2019, assumes roles across various subsidiaries, with reported assets of USD 1.2 billion.
Pallon Mistry
Source of Wealth: Shapoorji Pallonji Group
Parent: Shapoor Mistry
Family Wealth: USD 37.7 billion
As the scion of the Shapoorji Pallonji Group, Pallon Mistry steers the conglomerate towards continued success. With roots in construction and real estate, the family empire spans engineering and stakes in Tata Sons. While specifics of Pallon’s net worth remain ambiguous, Bloomberg estimates the family wealth at USD 37.7 billion, with Shapoor Mistry’s personal net worth pegged at USD 9.4 billion.
Rohan Murty
Source of Wealth: Infosys, Soroco
Parent: Narayana Murthy
Net Worth of Narayana Murthy: USD 4.3 billion
As the scion of tech giant Narayana Murthy, Rohan Murty inherits a substantial fortune from his father’s ventures. Following a stint at Infosys, Rohan ventured into entrepreneurship, co-founding Soroco. With a recent gift of 1.5 million Infosys shares to his infant son, Ekagrah Rohan Murty, Narayana Murthy paves the way for the next generation’s entry into the family business.
Jean-Victor Meyers and Nicolas Meyers
Source of Wealth: L’Oréal
Parent: Françoise Bettencourt Meyers
Net Worth of Françoise Bettencourt Meyers: USD 94.5 billion
Inheriting a third of L’Oréal, the world’s leading cosmetics giant, Jean-Victor and Nicolas Meyers embody the legacy of their mother, Françoise Bettencourt Meyers, the world’s wealthiest woman. Jean-Victor serves on the board of directors and is a member of Téthys Invest, while Nicolas holds similar roles within the family’s investment firm and the Bettencourt Schueller Foundation.
David Koch Jr, Mary Julia Koch, and John Koch
Source of Wealth: Koch Industries
Parent: Julia Koch
Family Wealth: USD 64.9 billion
The Koch family, synonymous with Koch Industries, boasts immense wealth and influence. Following David Koch’s passing, his widow Julia Koch, along with their children David Jr, Mary Julia, and John, inherit a significant stake in the conglomerate. Julia, serving on the board of directors and spearheading philanthropic endeavors, oversees a family fortune valued at USD 65.3 billion.
Ananya and Aryaman Vikram Birla
Source of Wealth: Aditya Birla Group
Parent: Kumar Mangalam Birla
Family Wealth: USD 21.7 billion
As scions of the Aditya Birla Group, Ananya and Aryaman Vikram Birla represent the future of the conglomerate. Ananya, an entrepreneur and musician, steers Svatantra Microfinance and CuroCarte, with reported assets of USD 13 billion. Meanwhile, Aryaman, a former cricketer and budding entrepreneur, boasts a net worth of USD 8.4 billion.
These heirs, hailing from diverse backgrounds and industries, epitomize the next generation of wealth and influence, poised to shape the global economic landscape for years to come.
