Reliance Industries Limited, led by Mukesh Ambani, has an estimated value of $309 billion (Rs 25.75 lakh crore), which represents about 10% of India’s Gross Domestic Product (GDP).
The Ambani family has been named the most valuable family business in India, according to the first edition of the 2024 Barclays Private Clients Hurun India Most Valuable Family Businesses list.
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Reliance Industries Limited, led by Mukesh Ambani, has an estimated value of $309 billion (Rs 25.75 lakh crore), which represents about 10% of India’s Gross Domestic Product (GDP).
The Ambani family tops the list with a net worth of Rs 25,75,100 crore. They are followed by the Bajaj Family, led by Niraj Bajaj, with a net worth of Rs 7,12,700 crore.
The Kumar Mangalam Birla family ranks third with a net worth of Rs 5,38,500 crore.
Notably, the Gautam Adani-led conglomerate, valued at Rs 15,44,500 crore, did not feature in the top ten due to its status as a first-generation family business.
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According to the report, the 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 evaluates the total worth of family-owned businesses. It includes businesses where a member of the founding family is involved in running the company or serves as a board member. The valuation data is current as of March 20, 2024.
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The top ten families on the list collectively have a combined value of Rs 6,009,100 crore. This figure 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 an impressive Rs 130 lakh crore, surpassing the GDP of countries like Switzerland and the UAE.
The top three families alone account for Rs 46 lakh crore, which is comparable to the GDP of Singapore.
The top ten most valuable family businesses are:
- Ambani Family
- Bajaj Family
- Kumar Mangalam Birla Family
- Jindal Family
- Nadar Family
- Mahindra Family
- Dani Family, Choksi Family, and Vakil Family
- Premji Family
- Rajiv Singh Family
- Murugappa Family
Haldiram Snacks stands out as India’s most valuable unlisted company, with a valuation of Rs 63,000 crore. Among the companies on the list, 15 are led by accomplished women, and 53 companies are managed by professional Chief Executive Officers.
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The list reveals that 85% of the companies deal in physical products, while the remaining 15% provide services.
The largest segment is industrial products, with 28 companies, followed by the automobile and auto components sector with 23 companies, and the pharmaceutical industry with 22 companies. This distribution reflects the diverse nature of the businesses included in the list.
