Ambani scions and Jio board directors Akash and Isha Ambani have made it to Fortune Magazine’s “40 under 40” list of the most influential young leaders for the year 2020, under the technology section.
“They say data is the new oil — and when it comes to Reliance Industries, India’s largest company, that’s literally the case,” Fortune said, adding the 47-year-old conglomerate amassed a fortune in petrochemicals before dominating the country’s mobile connectivity market with Jio, a low-cost wireless carrier which debuted in 2016.
The multinational business magazine said, “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.)”
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.
Fortune Magazine said, “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”.
Describing Akash and Isha Ambani’s “enviable lives,” Fortune Magazine said 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 is usual for the Ambani scions.
“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,” the magazine further said in their note about the Ambani siblings.
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, Fortune Magazine said.