Amidst the recent restructuring within the Godrej Group, Rishad Kaikhushru Naoroji, a relatively unknown figure in the business landscape despite his substantial wealth, has made headlines by choosing to donate a significant portion of his shares in various group companies to his nieces and nephews. While the exact details and logistics of this transfer remain undisclosed, it is reported that his holdings in firms like Godrej Agrovet, Godrej Consumer, Godrej Properties, and Godrej Industries are valued at an impressive Rs 7,000 crore, with additional stakes in unlisted entities under the group umbrella.
Despite his immense financial presence within the conglomerate, Rishad has maintained a low-key profile and has never actively participated in the day-to-day operations of the family businesses. Alongside his business pursuits, Rishad is recognized for his passion for wildlife conservation, particularly his involvement in founding the Raptor Research and Conservation Foundation that concentrates on the preservation of Asian birds of prey. Notably, the 72-year-old billionaire, who refers to himself as an atheist and has chosen not to marry, has decided to pass on his substantial wealth to the next generation of the Godrej family, aligning with their respective ownership structures following the recent restructuring of the group.
The recent restructuring of the Godrej Group has seen a significant transformation within the founding family dynamics, with an agreement reached to divide the conglomerate assets between different branches of the family. Adi Godrej and his brother Nadir will retain control over Godrej Industries and its associated listed entities, while cousins Jamshyd and Smita will take charge of unlisted Godrej & Boyce and its affiliates, in addition to a substantial land bank that includes valuable property in Mumbai. This split has effectively distributed the family's business interests between the two sides, with each branch assuming responsibility for a distinct segment of the diverse business portfolio spanning various sectors from soaps and home appliances to real estate and beyond.