Today 19 April 2024 is Mukesh Ambani’s birthday. He has turned 67 years old. The world’s 11th richest businessman Mukesh Ambani is also working on a plan to hand over his empire to the next generation as his age increases. He wants that after the death of father Dhirubhai Ambani, there should not be a similar dispute between his sons and daughter regarding sharing of stake with brother Anil Ambani. In such a situation, on the birthday of his father Dhirubhai on 28 December 2023, Mukesh had said – ‘The future of Reliance belongs to Akash, Isha, Anant and their generation. I have no doubt that they will achieve more in life, and bring more achievements to Reliance than people of my generation. Here we are telling in detail about Mukesh Ambani’s succession plan on his birthday…. Jio to Akash, retail to Isha and new energy business to Anant. Mukesh Ambani has three children. Akash-Isha and Anant. In 2022, Mukesh made his elder son Akash the chairman of Reliance Jio Infocomm Limited. Isha Ambani is handling Reliance Retail and Anant Ambani is looking after the New Energy business. All three have also been included in the board of Reliance. Mukesh Ambani had announced this in the 2023 AGM. He also said that he will remain the chairman and CEO of the company for the next 5 years, focusing on developing the ‘next generation’ leaders. 1. Akash Ambani: Took a degree in Economics from Brown University in 2014. After this he joined the family business. In October 2014, he joined the board of Reliance Jio Infocomm Limited (RJIL). He is the Chairman of RJIL from June 2022. Akash Ambani has also been on the board of Jio Platforms Limited, Reliance Industries’ digital services business and Reliance Retail Ventures Limited. In 2019, he married Shloka Mehta. they have two children. Elder son Prithvi and daughter Veda. 2. Isha Ambani: Studied at Yale and Stanford. Joined family business in 2015. On the boards of Reliance Retail Ventures, Jio Infocomm, Jio Financial Services. Isha got married to Anand Piramal, son of businessman Ajay Piramal, in December 2018. Isha Ambani is taking forward the expansion of Reliance Retail. He has launched new formats for Reliance Retail like ecommerce business Ajio and online beauty platform Tira. Reliance Retail has presence in food, consumer electronics and fashion retail. 3. Anant Ambani: Studied from Brown University, America. He is a director on the boards of Jio Platforms Limited since March 2020, Reliance Retail Ventures Limited since May 2022 and Reliance New Energy Limited and Reliance New Solar Energy Limited since June 2021. Anant Ambani is driving the expansion of Reliance Industries’ energy and materials business. Under his leadership, Reliance aims to become a net carbon zero company by 2035. Anant is also working on animal welfare. How big is the Reliance empire? Reliance Industries Limited is the largest private sector corporation in India. The company’s journey, which started with textiles and polyester, has today spread into energy, retail, entertainment and digital services. Reliance has the world’s largest refinery at a single location. The market cap of Reliance is around Rs 20 lakh crore. This is the largest pair of custom and excise duties in the private sector. Almost every Indian uses some product or service of Reliance. Dhirubhai Ambani had laid the foundation of Reliance. The foundation of Reliance was laid by Dhirubhai Ambani. He was born on 28 December 1933 in Junagadh district of Saurashtra. When he entered the world of business, he had neither ancestral property nor bank balance. Dhirubhai was married to Kokilaben in 1955. He has two sons Mukesh-Anil and two daughters Deepti and Neena. After Dhirubhai’s death on July 6, 2002, his wife Kokilaben played a major role in the distribution of his property. What was the reason for the tussle between Mukesh and Anil? Interesting things related to Reliance’s business: Reliance’s future and challenges. Reliance’s Jio, which has partnered with Google and Facebook, is in a strong position. However, the path of Reliance in retail is not easy. Reliance’s retail business is facing competition from players like Amazon and DMart. Whereas in New Energy he will have to compete with Gautam Adani. Adani wants to become the world’s largest renewable energy producer by 2030.
