CNBC's Inside India newsletter: India's millennial and Gen Z heirs are redefining family wealth. Startups are their bets [CNBC]
JULIUS BAER GRP UNSP/ADR (JBAXY)
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Source: CNBC
India is on the cusp of an unprecedented intergenerational wealth transfer, with an estimated US$1.5 trillion expected to change hands over the next decade. Startup windfalls, booming markets and returning nonresident Indians are fueling new wealth, while massive generational transfers reshape old fortunes. In this article This report is from this week's CNBC's “Inside India” newsletter, which brings you timely, insightful news and market commentary on the emerging powerhouse. Subscribe here. The big story Rajat Mehta, scion of Mumbai-based Mehta Group, walked out of the listing ceremony of Billionbrains Garage Ventures or Groww, on Wednesday, feeling vindicated. The company he backed in 2016 as an early-stage investor, at a valuation of roughly $1.3 million, debuted at $8.6 billion on the National Stock Exchange. The 36-year-old felt a sense of pride after his father, Rakesh Mehta, told him, “Let's find the next Groww to invest.” Coming from a business family whose f
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