(Answered) : Reliance Industries Dhirubhai Ambani Founding Entrepreneur Reliance Industries Died Sudden Q33452585

Reliance Industries

Dhirubhai Ambani, the founding entrepreneur of RelianceIndustries, died suddenly at the age of 69 without a will orsuccession plan. He left two sons in executive positions within thebusiness. Under Hindu tradition, the eldest son becomes thesuccessor. But dissatisfied with this traditional legacy, AnilAmbani challenged his older brother Mukesh and began arguing aboutmanagement and ownership issues. In the end, the brothers listenedto their mother, Kokilaben Ambani, and a settlement of theirdifferences was announced on June 18, 2005—seven months after thedisagreements started.

THE SETTLEMENT

The Ambani family owned 34 percent of the shares of RelianceGroup, a publicly traded but family-controlled corporation. Thesettlement included