Who is inheriting Mukesh Ambani’s vast wealth

Manjit Sing

Currently the richest man in Asia is Mukesh Ambani, who heads Reliance Industries.

Currently the richest man in Asia is Mukesh Ambani, who heads Reliance Industries. His vast investment empire, ranging from retail to oil refineries, is worth $22 trillion.

Reliance is a huge and comprehensive business empire – ranging from oil, telecom, chemicals, technology, fashion to food products. The Ambanis have a presence in almost every aspect of Indian economy and society, and hence public interest in them is also high.

Mukesh Ambani has three children. They are twins Isha and Akash – who are now 31. And Anant’s age is 28. They will join the board of directors subject to shareholder approval.

In a statement on Monday, Mukesh Ambani said, Reliance will combine the experience of the old leadership with the ambition of the new leadership. As a result, the company will usher in a third generation of family leadership. Perhaps the most attention-grabbing aspect in corporate India is succession planning. The group is now planning to enter general insurance and health insurance business through partnership with some global firms.

They also plan to bring 5G wireless broadband to 200 million homes and build 2,000 megawatts of computing capacity – which will be ready for artificial intelligence, or AI. It does not end here. They have an ambitious plan to build wind power businesses and solar-giga factories.

Meanwhile, the firm’s retail arm revived Campa Cola, a popular soft drink from the 1970s. They are also planning to take it global.

Not only is Mukesh Ambani’s son becoming the heir, but well-thought-out strategies and plans have worked behind it.

Ambani had to drop out of Stanford University midway to take over his father’s business. However, among his children Isha and Akash have studied in Yale and Brown University respectively in USA. Their presence can be seen at various corporate events and on magazine covers. They are also married into the families of other rich industrialists. Global stars like Beyoncé have attended those lavish weddings.

Akash Ambani
Akash Ambani joined the leadership team of the group’s telecom unit Reliance Jio in 2014 after completing his college education. He is now in charge of managing Mumbai Indians, the richest cricket team in the Indian Premier League. Apart from this, he was also part of the intermediary team that invested $5.7 billion in Jio Platforms, a unit of Meta Platform Reliance in 2020.

Isha Ambani
On the other hand, Isha Ambani has already been tasked with taking forward the company’s retail, e-commerce and luxury plans. He is also said to be behind the firm’s expanding presence in fashion through e-commerce, partnerships with some of the leading international luxury brands.

Isha’s rise is important in Reliance’s core business. Because she has been given senior leadership roles – where other women in the family have not been given such a role so far. In 2021, Fortune magazine named her ‘Aires on-Duty’ and ranked her at number 21 among India’s most powerful women.

Anant Ambani
Ambani’s younger son Anant is involved in Reliance’s energy business. These include businesses ranging from fossil fuels to solar panel manufacturing.

A graduate of Brown University, Anant is also on the board of Reliance Charities with his mother. He is also seen in the gallery during their team’s cricket matches in the IPL.

Mukesh Ambani and his brother Anil Ambani had a bitter dispute over business succession after their father’s death in 2002. As there was no will to share the wealth, the dispute was finally settled with the intervention of their mother.

Mukesh Ambani says he will be the group’s chairman and managing director for the next five years, and will groom the next generation of Reliance’s leadership, grooming his children to take the group forward with cohesive leadership.

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