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Jun 29, 2022

Ambani Business: Son Akash takes over chairmanship as father Mukesh quits

Foreign Affairs News Desk
Akash and Mukesh Ambani at an event. Twitter image
Akash and Mukesh Ambani at an event. Twitter image

India’s well known business group Reliance Industries chairman and Indian business magnate 65-year-old Mukesh Dhirubhai Ambani quit from the board of Reliance Jio effective from June 27, 2022.

He has handed over his responsibility to his son Akash Ambani who was a non-executive director and now will serve as chairman of the board.

Established in 2019, Jio Platforms, wholly-owned by Reliance Industries Limited is an Indian technology company.

Reliance Industries Limited is an Indian multinational conglomerate company founded by Dhirubhai Ambani on May 8, 1973, is ranked 155th on the Fortune Global 500 list of the world’s biggest corporations as of 2021.

The Mumbai based business organization dwelt on various businesses including exploration and production of oil and gas to the manufacture of petroleum products, polyester products, polyester intermediates, plastics, polymer intermediates, chemicals, synthetic textiles and fabrics.

As per the latest Bloomberg Billionaires Index statistics, Mukesh Ambani’s net worth is estimated at US $93 billion as of June 2022.

With this assets he was made the richest person in Asia and seventh richest in the world. However, Mukesh will continue to be the chairman of Jio Platforms Ltd., the flagship company that owns all Jio digital services brands including Reliance Jio Infocom.