Mukesh Ambani prepares to hand a $220 billion empire to his children

Mukesh Ambani, Indian billionaire and the 11th richest man in the world, has laid out plans to hand off his business empire to his three children, Akash, Isha and Anant, despite insisting he has no intention to retire.

Ambani told shareholders in his Reliance Industries conglomerate that his three children are currently being mentored by senior leaders in the company. 

Since inheriting an oil business from his father, Ambani has spent the last few years diversifying into tech, renewable energy, and retail, making Reliance Industries worth 17.8 trillion rupees ($224 billion.) 

When the Ambani’s father passed away in 2002, he died intestate, which led to a fight for the control of the empire between Ambani and his younger brother. 

For more information, see Diksha Madhok “Mukesh Ambani prepares to hand a $220 billion empire to his children” CNN, August 30, 2022.