Billionaire Rishad Naoroji To Gift His Godrej Company Shares To Family Members: Report

The Godrej group is one of the oldest family businesses in the country. The family recently announced the plan to strategically split their company, setting up two separate entities named Godrej Enterprises and Godrej Industries. The present market value of the Godrej Group has been estimated to be around $16.7 billion (approximately Rs 1.3 lakh crore). Amid the reconstruction of the company, Rishad Kaikhushru Naoroji has reportedly decided to give away his shares of the company to his family members. According to a LiveMint report, Rishad is a member of the governing council and serves as a director for Godrej Investments Private Limited and Godrej Holdings Private Limited. He is set to gift most of his shares to his nephews and nieces. He holds shares in entities like Godrej Consumer, Godrej Properties, and Godrej Industries with a valuation of around Rs 7000 crore.

As per the data from Forbes, Rishad Naoroji’s net worth is estimated to be around $3.8 billion (approximately Rs 31,000 crore). Adding to it, he also holds shares of undisclosed amounts in other companies of the 127-year-old business.

The other shareholders of the companies include Adi Godrej, Nadir Godrej, Jamshyd Godrej and Smita Crishna-Godrej.

Rishad Naoroji is the son of Kaikhushru Naoroji and Dosa Godrej. His father Kaikhushru Naoroji joined the family business after retiring from Imperial Chemical Industries, England. Despite belonging to such a business family, he never had an interest in the business. With a passion for Wildlife conservation, he founded Raptor Research and Conservation Foundation in 2011. The organisation aims to conserve raptors and work for their betterment. He is also a member of Bombay Natural History Society.

The Godrej group was founded in 1897 by Ardeshir Godrej and Pirojsha Burjorji Godrej. Ardeshir Godrej initially started his career as a lawyer, but eventually shifted to business. He started a business of surgical blades but the company failed to taste success. After that, Ardeshir Godrej along with Pirojsha Burjorji Godrej started the company which initially only manufactured locks. Today the group owns more than 20 businesses recording a yearly revenue of $5.7 billion (approximately Rs 47,000 crore).