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.
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