India’s largest privately held company is introducing the third generation into the fold, with twins Isha and Akash Ambani joining the board of two of Reliance Industries’ subsidiaries.
Their father Mukesh Ambani is chief executive of the family-controlled business, which had revenues of $75 billion (€59 billion) in the last financial year.
The 23-year-old twins will each become directors of Reliance Jio Infocomm and Reliance Retail Ventures.
According to The Economic Times, Isha, a Yale graduate, had previously been working as a business analyst at McKinsey & Company. Her brother is a graduate of Brown University, and has already done some work for the family business.
The family’s businesses were split at the transition to the second generation, following the death of Reliance Industries’ founder, Dhirubhai Ambani, in 2002, which led to an ongoing feud over succession.
Mukesh ended up with Reliance Industries, while his brother, Anil Ambani, became head of Reliance Group, which included telecoms and energy interests.
Mukesh, according to Forbes, is the wealthier of the two brothers, with a net worth of $23.6 billion. Anil’s net worth is estimated to be $6.3 billion.
In an interview with Hello magazine earlier this year, Akash said he had a passion for technology, and shared a close bond with his twin sister.
The twins’ mother, Nita Ambani, was appointed to the Reliance Industries’ board in June, becoming its first female director.
Mukesh was inducted into the family business at 24 years old.