Asia’s richest person, Mukesh Ambani grooms heirs to his $50 billion fortune
NEW DELHI: Among Mumbai’s glitziest society events over the past year were two weddings in the family of Mukesh Ambani, the Indian 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.
去年12月，穆克什为其27岁的女儿伊莎举办了一场宝莱坞风格的奢华婚礼，出席婚礼的有来自全球各地的政客和金融界巨头。碧昂丝在婚礼庆典上演唱，希拉里•克林顿飞到场，KKR & Co的亨利•克拉维斯也出席了庆典。今年3月，伊莎的孪生弟弟阿卡什举行了婚礼，谷歌首席执行官桑达尔•皮查伊等人到场。
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% stake in the oil and chemicals business of Reliance Industries (RIL), allowing the Indian conglomerate to reduce the debt that increased during its expansion spree of recent years.
Over the coming decades, billions of dollars in wealth will be handed over to yet another generation in family-controlled businesses across Asia. Such dynastic transfers can come with pitfalls, as Mukesh and his younger brother, Anil, well know. More than a decade ago, the brothers were embroiled in a feud over the family business after their father, Dhirubhai, died without leaving a will.
The twins are having a very different beginning to their careers from the patriarch, Dhirubhai. The late industrialist—who started out as a gas-station attendant in Yemen—built up Reliance Industries into a petrochemicals giant at a time when India’s economy was heavily controlled by the government.
“They have to show their mettle in entrepreneurship and strategy like their father and grandfather,” said Kavil Ramachandran, a professor and executive director at the Thomas Schmidheiny Centre for Family Enterprise at the Hyderabad-based Indian School of Business.
Appointed in 2014 to the boards of Reliance Jio Infocomm Ltd, the mobile carrier unit, and Reliance Retail Ventures Ltd, the twins have raised their profiles in subsequent years, addressing investors at annual shareholder meetings and introducing new products. The duo also helped bring an open-office culture for top executives at the group’s corporate park in Mumbai’s outskirts.
2014年，这对双胞胎被任命为移动运营商子公司Reliance Jio Infocomm Ltd和信实零售的董事会成员。随后几年，他们提高了自己的知名度，在年度股东大会上向投资者发表演讲，并介绍了新产品。两人还帮助该集团在孟买郊区的企业园区为高管们带来了一种开放式办公室文化
Isha, a Yale University graduate and a former McKinsey & Co consultant, kicked off Reliance’s e-commerce foray into fashion retail in 2016 by starting online shopping portal Ajio. Her husband is Anand Piramal, the son of Indian billionaire Ajay Piramal, whose interests range from pharmaceuticals to real estate.
Akash, a Brown University alumnus, has studied economics. He married his childhood sweetheart, Shloka Mehta, the daughter of a Mumbai-based diamond trader and jeweller. The twins have a younger brother, Anant, 24.
“Going forward, you will see Anant also taking some key responsibilities,” said Arun Kejriwal, founder at KRIS, an investment advisory firm.
The senior Ambani has credited his children with helping to nudge him into the internet business.
In 2011, while in India on a break from college at Yale, Isha complained about the poor quality of the internet at the family home, which made it more difficult for her to submit her coursework, Ambani has said. Meanwhile, Akash kept reminding his father that digital communications, rather than just phones, were now driving the world.
After Dhirubhai’s death in 2002, the brothers’ fight for control went on until their mother intervened in 2005 and brokered a settlement under which they carved up the vast empire. The older one kept the oil refining and petrochemicals businesses, while the younger one got the newer ventures in finance, infrastructure, power and telecom.
While the paths of the brothers diverged, so have their fortunes. Mukesh’s worth is about $50 billion, according to the Bloomberg Billionaires Index. He lives a lifestyle to match, with a 27-story, 400,000-square-foot home in Mumbai named Antilia, after a mythical island, that boasts nine elevators, a spa, a 50-seat theater and a helipad.
The value of Anil’s holdings in companies, calculated net of pledged shares, is about $75 million, according to data compiled by Bloomberg. That compares with a net worth of at least $31 billion in 2008. Stock prices of Anil’s various businesses have slumped as the units struggle to pay about $13 billion of debt—not counting his phone venture, which this year slipped into bankruptcy.
Earlier this year, Mukesh stepped in to pay about $78 million of vendor dues owed by one of Anil’s businesses, helping his younger brother avoid a stint in jail.
译文来源：无极4 http://www.abaripsen.com/48262.html 译者：Jessica.Wu
Booby•Right Here•1 day ago
why not give that money to young entrepreneurs to develop new businesses?
Harneet Singh•Unknown•1 day ago
Sukrut Inamdar•1 day ago
On a lighter note, what do you do when your kid complains about internet speed? Mr. Ambani - start a internet company.. LOL,P.S - I admire the vision on this man! Brilliant.
Jitendra Kamdar•1 day ago
THIS MAN I HAVE NO RESPECT AS HE MAY BE GREAT,BUSINESSMAN BUT WHAT HE HAS DONE FOR THE PEOPLE CHARITY WISE ?? LOOK AT BILL GATES AND,WARREN BUFFET HAVE GIVEN THEIR WEALTH TO CHARITY . SPECIALLY IN INDIA WHEN PEOPLE ARE IN NEED OF SO MANY THINGS , GOOD HOSPITALS WATER,SUPPLIES IN THE VILLAGES ETC BUT HE IS MORE INTERESTED IN BECOMING THE RICHEST MAN IN THE WORLD . GREED .
Ash•Unknown•1 day ago
Reliance has a horrible image and most people only buy reliance products because it is cheap.
Hindustani•1 day ago
so where is other son anant? why media is always projecting this two as only kids of mukesh
Somebody•1 day ago
all three of them are so well educated. ishas talk at some American university showed her brilliance. people are just hating on them bcs they are jealous
Rich Kumar•1 day ago
Fight between Shloka and Isha will be more ugly than Anil and Mukesh. Also Anant is a rebellious guy, silent volcano and smart operator. He will wait to fire his shot at the right time. Shloka Amabani looks like Akash amani''s aunty! She is ordinary looking ; its a marriage of wealth and greed! It will all come back to haun Nita Ambani and Mukesh... Jaii karni vais bharni! All jugads, bribing all politicians, hawala etc has ben the cornerstone of this conglomerate. One day it will collapse and it will be calamitous.
Supersubash•1 day ago
as long as modi is there ambani might become richest person in the world itself.
Elsingri• supersubash 1997•1 day ago
Even before Modi came to power, they were billionaires thanks to the Congress governments.
Ashok Kamath•Udupi•1 day ago
Lakhs of people working with them and crores benifitted from them..
MAHASHIVA RAMAN•Nohkalikai•1 day ago
same way nirubhai ambani groomed these two idiot brothers and they fought for their money. When these dumb children fight and pull down the business will only make him realize there is GOD.
Ulhas•1 day ago
Standing TALL amidst ruins! While other wealth creators have fallen like nine pins, he GROWs and GROWs.
Santosh•1 day ago
bcz of modi policy
Ulhas•1 day ago
He has ground telecoms Giants to DUST. It's now the turn of retail "GIANT"s!
Deviprasad Nayak•Unknown•1 day ago
This family never follow business ethics.