(Image source from: ndtv.com)

Akash Ambani, Mukesh Ambani's son is named as the new Chairman of Reliance Jio and the announcement was made yesterday. The 30-year-old youngster was the non-executive director for Reliance Jio Infocomm Ltd and he was appointed as the new Chairman after his father Mukesh Ambani resigned. Mukesh Ambani will continue to remain as the Chairman for Jio Platforms Ltd. Mukesh Ambani has been in plans to take a backseat and announce his children to take over the reins. Last, during the annual meeting, Mukesh Ambani hinted that his children will take more responsibilities in the coming months.

Akash Ambani has been negotiating the investments into Jio through Meta Platforms Inc which was known as Facebook Inc. Reliance Industries Limited has been left in huge profits from the past few years and Mukesh Ambani ended up as the Richest Asian from the past few years. Reliance Jio emerged as a sensation in the telecom industry of the country in 2016 and gained huge profits in no time. Jio invested big in internet broadband and they are all set to release budget smartphones this year with 5G services. Akash Ambani is an alumnus of Brown University in the United States of America and he completed economics. He got married to his childhood friend Shloka Mehta who happens to be the daughter of a diamond trader based in Mumbai. They got married in 2019 and they welcomed their first child Prithvi in 2020.

By Siva Kumar