Reliance Industries Limited, owned by Mukesh Ambani and family, is one of India’s largest and most diversified conglomerates, with business interests in various sectors such as petrochemicals, refining, oil exploration, energy, telecommunications, natural gas, media and retail. Founded by Dhirubhai Ambani, Mukesh Ambani’s father, the company has grown significantly over the decades and is a major player in the global market.
According to Forbes, the Ambani family is the wealthiest in Asia, with a total net worth of $113.5 billion (approximately Rs 9 lakh crore). The family owns 332.27 crore shares in the company, giving them a 50.33 per cent stake. With a Rs 10 per share dividend declared for 2023-24, this stake would have earned them Rs 3,322.7 crore in dividends, according to India.com.
Mukesh Ambani’s three children each hold distinct roles within the company. Despite their substantial wealth, neither Mukesh Ambani, Nita Ambani, nor their kin draw large salaries from their business empire.
Mukesh Ambani, Nita Ambani and their children Isha, Akash and Anant took home this amount in salaries for FY2024, and it’s not as much as you’d think
Mukesh Ambani
Mukesh Ambani, Chairman and Managing Director of RIL, did not draw any salary from the company for the fourth consecutive year, according to RIL’s annual report.
From the fiscal year 2008-2009 to 2019-2020, he had limited his annual compensation to Rs 15 crore. However, from the fiscal year 2020-2021, amidst the COVID-19 pandemic, he opted against taking any salary so his company could regain financial stability. This decision continued through the financial years 2021-2022 and 2022-2023, and remains in effect for the year 2023-2024 as well. Over the past three years, Ambani chose to forgo all allowances, perquisites, retiral benefits, commissions, and stock options.
Nita Ambani
Nita Ambani served as a non-executive director on the company’s board until 28 August, 2023. In the fiscal year 2023-2024, she earned a sitting fee of Rs 2 lakh, and a commission of Rs 97 lakh.
Akash, Isha and Anant Ambani
Mukesh and Nita Ambani’s children — Akash, Isha, and Anant Ambani — were appointed to the Reliance board in October last year (2023), earning a sitting fee of Rs 4 lakh and a commission of Rs 97 lakh, but no fixed salary.
Akash Ambani, the eldest son of the billionaire couple, graduated with a degree in economics in 2014 and joined Reliance the same year. He now serves as the chairman of Reliance Jio Infocomm Limited.
Isha Ambani, Akash’s twin sister, completed her MBA from Stanford University in 2018. She is involved with various branches of the conglomerate. She is also a member on the Boards of Reliance Retail Ventures Limited, Reliance Jio Infocomm Limited, and Reliance Foundation Institution of Education and Research, among other branches.
Anant Ambani, who serves as a Director on the Boards of Jio Platforms Limited, Reliance Retail Ventures Limited, Reliance New Energy Limited, and Reliance New Solar Energy Limited, completed his education from Brown University and joined his family business.
