The Ambani family, who just hosted a ₹5,454 crore wedding party for its younger son Anant, has been named the “most valuable family business” in India by the 2024 Barclays Private Clients Hurun India Most Valuable Family Businesses list.
While Reliance Industries Limited, led by Mukesh Ambani, is said to have surpassed nearly 10% of India's Gross Domestic Product (GDP) at an estimated value of $309 billion ( ₹25.75 lakh crore).
With a net worth of ₹25,75,100 crore, the Ambani family topped the Hurun list. The Bajaj Family, led by Niraj Bajaj, tailed at number 2 with a net worth of ₹7,12,700 crore, while the Kumar Mangalam Birla family ranked third with a net worth of ₹5,38,500 crore.
Gautam Adani-led conglomerate with is valued at ₹15,44,500 crore, did not feature in the top ten because of its status as a first-generation family business.
According to the Hurun report, its list focusses on “family businesses where a descendant from the founding family actively contributes to the business”.
The 2024 Barclays Private Clients Hurun India Most Valuable Family Businesses list assesses the overall value of family-owned enterprises. It encompasses businesses in which a founding family member is active in management or holds a board position. The valuations are up-to-date as of March 20, 2024.
The top ten business families in India on the list collectively have a combined value of ₹6,009,100 crore. It highlights the significant presence of family-led enterprises in India’s business sector.
The total value of the 2024 Barclays Private Clients Hurun India Most Valuable Family Businesses is a whopping ₹130 lakh crore. This figure surpasses the GDP of countries like the UAE and Switzerland.
Notably, the top three families, with a total valuation of ₹46 lakh crore, account for a figure comparable to Singapore's GDP.
