Reliance's gen next: Mukesh Ambani grooms heirs to his $50 billion fortune



Among Mumbai’s glitziest society events over the past year were two weddings in the family of Mukesh Ambani, the tycoon who in 2018 became Asia’s richest person.
In December, his 27-year-old daughter Isha got married in a Bollywood-style extravaganza attended by global power brokers and titans of finance. Beyonce sang at the festivities, Hillary Clinton flew in and KKR & Co.’s Henry Kravis made an appearance. In March, her twin brother Akash wed in a ceremony attended by the likes of Google Chief Executive Officer Sundar Pichai.
The lavish events put Ambani’s eldest children in a very public spotlight at a time when they are playing more visible roles at his Reliance Industries Ltd.’s retail and telecommunications businesses.
Ambani, 62, has big ambitions in new areas like e-commerce and is enlisting his children to help drive the modernization of his empire. The rise of the twins offers early signs of the efforts the titan is making to groom his heirs. The billionaire on August 12 announced that the world’s biggest crude producer, Saudi Aramco, will buy a 20 per cent stake in the oil and chemicals business of Reliance Industries, allowing the Indian conglomerate to reduce the debt that increased during its expansion spree of recent years. Read More



Article Source -> Business Standard

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