Commodities king, who chairs the $41 billion (revenue) Aditya Birla Group, is restructuring his empire. In August he announced the merger of Aditya Birla Nuvo with cash-rich Grasim Industries, to be followed by the demerger of the financial-services business into a separate company. Shares of both companies fell on investor concerns that the merger lacked synergies. Birla defended the move, saying it would create a company that combines growth with stability. In April Birla's UltraTech Cement concluded the $2.4 billion acquisition of rival Jaypee Group's cement units. Daughter Ananya has founded a microfinance firm.