Mumbai: Indian billionaire Mukesh AmbaniOne of the nation’s wealthiest men has ushered in a long-awaited leadership change at the energy-to-retail conglomerate Reliance By handing over the chairmanship of his telecommunications unit to his son.
The move is the first sign of a turnaround in Ambani’s empire as the billionaire said last year that his children would play a key role in the business, adding Reliance was “in the process of effecting a significant leadership change.”
Here are the details about the three children of the Ambanis, who are expected to have a high stake in India’s largest conglomerate, worth around $200 billion.
Akash Ambani, 30
Ambani’s elder son Akash joined the leadership team at Reliance Jio, the group’s telecommunications arm, in 2014, soon after completing his graduation in economics from Brown University.
As a non-executive director, he worked closely on the company’s strategy and growth plans, which made Jio India’s largest telecom operator with over 400 million subscribers. Reliance on Tuesday said that he will now be the chairman of the telecom arm.
The company says that Aakash has been closely involved in product development and employee engagement to bring about a “young and vibrant culture”. An avid cricketer, he is also instrumental in the management of Mumbai Indians, a Reliance-owned team in the IPL, the world’s richest cricket league.
Akash was also part of the team that brokered a $5.7 billion investment by Meta Platforms in Reliance unit, Jio Platforms, in 2020.
In 2019, he married Shloka Mehta, daughter of a rich diamond merchant.
Isha Ambani, 30
Isha is Akash’s twin sister and already runs the company’s retail, e-commerce and luxury initiatives. Reliance, also India’s largest bricks-and-mortar retailer, plans to rapidly expand into e-commerce to take on giants like Amazon.
He is also involved in expanding Reliance’s presence in fashion through the company’s Ajio e-commerce app as well as Reliance’s partnerships with top international brands.
Isha has a degree in Business Management from Stanford. Fortune magazine referred to her as the “successor on duty” last year, ranking her as the 21st most powerful woman in India.
It is working on a new Reliance Mall concept, in which the company incorporates highly sensitive placement of rival luxury brands next to each other, Reuters has reported.
In 2018, Isha married Anand Piramal, the son of a billionaire industrialist with an interest in real estate and pharma.
Anant Ambani, 27
Anant is Ambani’s youngest son, focusing on the group’s new energy business, a key investment area for Ambani.
Reliance is competing to be at the forefront of Prime Minister Narendra Modi’s ambition to scale up green energy capacity.
Reliance has major expansion plans to diversify into clean energy projects including solar and green hydrogen.
Anant has previously addressed audiences at company events with Akash and Isha. Anant graduated from Brown University in 2017.
The move is the first sign of a turnaround in Ambani’s empire as the billionaire said last year that his children would play a key role in the business, adding Reliance was “in the process of effecting a significant leadership change.”
Here are the details about the three children of the Ambanis, who are expected to have a high stake in India’s largest conglomerate, worth around $200 billion.
Akash Ambani, 30
Ambani’s elder son Akash joined the leadership team at Reliance Jio, the group’s telecommunications arm, in 2014, soon after completing his graduation in economics from Brown University.
As a non-executive director, he worked closely on the company’s strategy and growth plans, which made Jio India’s largest telecom operator with over 400 million subscribers. Reliance on Tuesday said that he will now be the chairman of the telecom arm.
The company says that Aakash has been closely involved in product development and employee engagement to bring about a “young and vibrant culture”. An avid cricketer, he is also instrumental in the management of Mumbai Indians, a Reliance-owned team in the IPL, the world’s richest cricket league.
Akash was also part of the team that brokered a $5.7 billion investment by Meta Platforms in Reliance unit, Jio Platforms, in 2020.
In 2019, he married Shloka Mehta, daughter of a rich diamond merchant.
Isha Ambani, 30
Isha is Akash’s twin sister and already runs the company’s retail, e-commerce and luxury initiatives. Reliance, also India’s largest bricks-and-mortar retailer, plans to rapidly expand into e-commerce to take on giants like Amazon.
He is also involved in expanding Reliance’s presence in fashion through the company’s Ajio e-commerce app as well as Reliance’s partnerships with top international brands.
Isha has a degree in Business Management from Stanford. Fortune magazine referred to her as the “successor on duty” last year, ranking her as the 21st most powerful woman in India.
It is working on a new Reliance Mall concept, in which the company incorporates highly sensitive placement of rival luxury brands next to each other, Reuters has reported.
In 2018, Isha married Anand Piramal, the son of a billionaire industrialist with an interest in real estate and pharma.
Anant Ambani, 27
Anant is Ambani’s youngest son, focusing on the group’s new energy business, a key investment area for Ambani.
Reliance is competing to be at the forefront of Prime Minister Narendra Modi’s ambition to scale up green energy capacity.
Reliance has major expansion plans to diversify into clean energy projects including solar and green hydrogen.
Anant has previously addressed audiences at company events with Akash and Isha. Anant graduated from Brown University in 2017.