Children of Mukesh Ambani at the Center of Leadership Change at India’s Reliance
Mumbai:
Mukesh Ambani, one of the wealthiest individuals in the country, has initiated a much-anticipated leadership transition at energy-to-retail conglomerate Reliance by handing over the chairmanship of the telecom unit to his eldest son.
The move is the first sign of change in Ambani’s empire after the billionaire said last year that his children would be given important roles in the company, adding that Reliance was “in the process of bringing about a momentous leadership transition”.
Here are details about Ambani’s three children, who are expected to have more say in India’s largest conglomerate worth about $200 billion.
Akash Ambani, 30
Akash, Ambani’s eldest son, joined the leadership team of the group’s telecom unit, Reliance Jio, in 2014, shortly after completing his degree in economics from Brown University.
As a non-executive director, he worked closely on the company’s strategy and growth plans, making Jio India’s largest telecom operator with over 400 million subscribers. He will now become the chairman of the telecom unit, Reliance said on Tuesday.
Akash has been deeply involved in product development and employee engagement to bring a “young and vibrant culture,” the company says. An avid cricketer, he also plays a key role in the management of Mumbai Indians, a team of Reliance in IPL, the world’s richest cricket league.
Akash was also part of a team that brokered a $5.7 billion investment by Meta Platforms in 2020 in a Reliance unit, Jio Platforms.
In 2019, he married Shloka Mehta, the daughter of a wealthy diamond merchant.
Isha Ambani, 30
Isha is Akash’s twin sister and has already been tasked with driving the company’s retail, e-commerce and luxury plans. Reliance is also India’s largest brick-and-mortar retailer, with plans to quickly expand into e-commerce to take on giants like Amazon.
She is also involved in expanding Reliance’s fashion presence through the company’s Ajio e-commerce app and Reliance’s partnerships with top international brands.
Isha has a business management degree from Stanford. Fortune magazine named her “heiress to duty” last year, ranking her as the 21st most powerful woman in India.
She’s been working closely on envisioning a new Reliance mall, including how the company juxtaposes the highly sensitive positioning of rival luxury brands, Reuters reports.
In 2018, Isha married Anand Piramal, the son of a billionaire industrialist with real estate and pharmaceutical interests.
Anant Ambani, 27 years old
Anant is Ambani’s youngest son who focuses on the conglomerate’s new energy business, an important investment area for Ambanis.
Reliance is vying to lead the way in Prime Minister Narendra Modi’s ambition to ramp up green energy capacity.
Reliance has major expansion plans to diversify into clean energy projects, including solar and green hydrogen.
Anant, along with Akash and Isha, has addressed the public at corporate events in the past. Anant graduated from Brown University in 2017.