- TitleBoard directors
- CompanyReliance Jio
They say data is the new oil—and when it comes to Reliance Industries, India’s largest company, that’s literally the case. The 47-year-old conglomerate amassed a fortune in petrochemicals before dominating India’s mobile connectivity market with Jio, a low-cost wireless carrier it debuted in 2016. Akash and Isha Ambani are the twin children of Reliance’s chairman and managing director, Mukesh Ambani, who happens, not coincidentally, to be India’s—rewind, Asia’s—richest man. (No big deal.)
Reliance is a family business. Akash joined the company in 2014 after receiving an economics degree from Brown University. Isha joined a year later, following stints at Yale, Stanford, and McKinsey. As Jio board members, they helped seal the company’s recent megadeal with Facebook—$5.7 billion for a 9.99% stake—plus major follow-on investments from marquee tech titans like Google, Qualcomm, and Intel. The flurry of investments lent the business an eye-popping $65 billion private valuation.
The Ambani scions lead enviable lives: attending private concerts featuring Beyoncé, partying with buddies Priyanka Chopra and Nick Jonas, living it up in a 27-story residential skyscraping pleasure palace in Mumbai. When the glam siblings are not basking in unfathomable luxury, they’re training—along with their younger brother, Anant, 25, a more recent addition to Jio’s board—to take on their father’s empire. A major proving ground will be e-commerce. Recently, Akash and Isha helped launch Jio Mart, a venture that aims to challenge Amazon and Walmart’s Flipkart for command of India’s massive and fast-growing online shopping market. Hey, even heirs have to earn their keep.