Isha Ambani, youngest billionaire in India

Youngest Billionaire in India

Isha Ambani

Isha Ambani, the daughter of Indian businessman Mukesh Ambani

When teachers and students at Dhirubhai Ambani school were looking to choose a headgirl, they didn’t have to scout too far. Mukesh and Nita Ambani’s 15-year-old daughter Isha has been chosen the headgirl of the school while her twin, Akash, has been made a member of the newly-created students’ council support team.

The council is responsible for managing in-house events, co-ordinating between the management and students, and handling the general affairs of the school. It had 34 members but the number came down to 30 this year following some changes in its composition and work-load. The members are generally chosen from among students of Grades IX and XI. Isha and Akash are in grade XI of the International Baccalaureate programme. A teacher said,
Isha, Akash
“Isha is a very talented girl and is an all-rounder. She has been appointed the headgirl and Avichal Lalwani the headboy of the school.” Apparently, Isha’s name always cropped up when there was any talk about contenders for the head-girl’s post. But the support team, of which Akash has been made a part, was created just this year.

15-year-old Isha is headgirl of Dhirubhai Ambani International School, and Akash too part of a newly-created support team

A student said, “A support team was created just this year as it was found the workload on the 34 members of the students’ council was far too much. The support team comprises seven students. Akash is one of them.”

After creation of the support team, the number of members in the council itself was reduced to 30.

The school doesn’t have an electoral process to fill the seats in the students’ council.

A spokesperson said, “The process starts with written applications from students, followed by screening of candidates and an interview with the existing members of the students’ council. A list of shortlisted candidates is sent to the school’s management. The final selection is done by the school’s management.”

After striking gold at the olympics and carving a niche, it is time for Indians to hit the Forbes list also. Isha Ambani, 16 year old daughter of Reliance Industries Limited (RIL) Chairman and Managing Director Mukesh Ambani, is the youngest of the top ten billionaire heiresses ranked by Forbes. Isha was ranked second in the list announced by the magazine recently. She is in the final year of her International Baccalaureate programme. Apart from academics, where she has been the recipient of several awards, she has varied interests in sports, arts, business and economy and international issues.

Topping the list is Vanisha Mittal Bhatia, daughter of Lakshmi Mittal, the fourth-richest person in the world as of March. Perhaps best known for the USD 60 million wedding her father threw for her in 2004, she now serves as a director on the board of dad's USD 103 billion (market cap) steel company, ArcelorMittal.

Her corporate involvement and small family -- she has only one brother -- puts her in good stead to inherit a sizable chunk of her father's fortune.

Isha, the only daughter of Mukesh Ambani, an Indian billionaire ranked fifth in the world, is second in the list. She is just a teenager but already has her own stake in the family's Reliance Industries, worth about USD 80 million.

Isha is actively involved in several pioneering initiatives in the school. She was the organizer and facilitator of 'Paigaam', an Indo-Pakistan peace conference organised by Dhirubhai Ambani International School students. It seeks to build a harmonious relationship with people from across the border, through the exchange of ideas and fact-based debate in the spirit of openness and mutual respect. This is a widely acclaimed unique initiative.

Forbes looked at the daughters of the 150 richest people, all of whom had a net worth of USD 6.4 billion or more in March when it last locked in fortunes (all ranks and net worths are from that time).

''Then we focused on those daughters who come from smaller families, with few or no siblings. Finally, we eliminated anyone whose mothers or fathers had already announced Carnegie-esqe philanthropic pledges,'' Forbes said .

Also making the cut are several heiresses who already play an active role in the family empire, a fact that appears to bode well for their chances of inheriting the business as well as a piece of the estate. Leading that group is Delphine Arnault-Gancia, the daughter of Bernard Arnault, the world's 13th richest man, who heads USD 50 billion (market cap) luxury goods behemoth LVMH. Delphine who sits on LVMH's board was named managing director of couture house Christian Dior in April, adding to her roles at sister brands Pucci and Loewe and positioning her as her father's likely successor.

Another one poised to inherit and lead is Marta Ortega Perez, daughter of Spanish retailer Amancio Ortega. She could choose to live a life of idle pleasures off her presumed cut of his USD 20.2 billion fortune, but instead she's being groomed to succeed him at the helm of fashion conglomerate Inditex.

Missing from these rankings are far more visible socialites like Paris Hilton or Amanda Hearst, whose relations to billionaires are more distant, and whose chance of inheriting the family fortune not as great. Even Paris' nightclub-appearance fees wouldn't bring her close to the ranks of these 10 women, the magazine said.