Anant Ambani to get Rs 20 cr salary, profit share as RIL’s Executive Director

New Delhi: Anant Ambani, the youngest son Mukesh Ambani and the first among three siblings to be appointed Executive Director on Reliance Industries Ltd (RIL), will be paid Rs 10-20 crore salary annually plus a host of perks including a commission on company profits, according to a shareholder notice.

While Ambani’s all three children - twins Akash and Isha, and Anant - were inducted on board of the oil-to-telecom-and-retail conglomerate in 2023 as non-executive directors, the youngest of the three was in April this year appointed Executive Director of RIL.

As non-executive directors, the three were entitled to no salary and were each paid a sitting fee of Rs 4 lakh in FY24 and a commission on profit of Rs 97 lakh each.

But as an Executive Director, Anant, 30, will be entitled to salary and other prerequisites.

Reliance in a stock exchange notice on Sunday said shareholder approval for the appointment has been sought through a postal ballot.

The appointments in 2023 were part of a succession planning at India’s most valuable company, which many saw as Ambani’s attempt to avoid the sibling fued that followed his father’s death in 2002.