CHENNAI: Reliance Industries Chairman Mukesh Ambani has resigned from the board of his group's telecom arm, Reliance Jio, and handed over the reins of the company to eldest son Akash Ambani.
Bloomberg last year reported Mukesh Ambani was eyeing a blueprint to ensure his empire - worth over $200 billion - is not ripped apart in succession warfare.
Here are facts about Mukesh Ambani's eldest son Akash Ambani:
Akash Ambani graduated from Brown University with a major in Economics and married his childhood sweetheart Shloka Mehta (the daughter of a Mumbai-based diamond trader) in 2020 and has a son, Prithvi.
Akash Ambani was a part of the team that negotiated investment into Jio's parent firm by Meta Platforms Inc., formerly known as Facebook Inc., besides leading other key acquisitions.
Akash Ambani is the oldest of Mukesh and Nita Ambani's three children. He has a twin, Isha Ambani, and a younger brother, Anant Ambani.
Akash has been involved in the development of new technologies and capabilities and will continue to work towards making data and technology more accessible to all, the company said in a statement.
Akash Ambani's key work includes the creation of the digital ecosystem around Jio's 4G proposition, leading major acquisitions made by Jio in the digital space, and trailblazing global investments by tech majors and investors in the last few years.
Akash Ambani has been closely involved in inventing and launching an India-specs-focused Jiophone in 2017, said the company. Further, the company said, "He is expected to continue to operate on the cutting-edges of innovation and technology to encourage an ecosystem that will further digital solutioning and make the power of data and technology more accessible to all, including those who are still at the margin."