Ambani Family Wealth Is Equivalent To 10% Of India's GDP - Hurun Wealth Report


Mohul Ghosh

Mohul Ghosh

Aug 10, 2024


The Ambani family has secured the top spot on the inaugural Barclays-Hurun India Most Valuable Family Businesses list, with an astounding valuation of Rs 25.75 trillion. This valuation is nearly equivalent to one-tenth of India’s Gross Domestic Product (GDP), according to the 2024 Barclays-Hurun India report. Reliance Industries, the cornerstone of the Ambani family’s wealth, operates predominantly in the energy, retail, and telecom sectors. The rankings were based on company valuations as of March 20, 2024, excluding private investments and liquid assets while adjusting for cross-holdings to prevent double counting.

Ambani Family Wealth Is Equivalent To 10% Of India's GDP - Hurun Wealth Report

Bajaj and Birla Families Follow in Second and Third Positions

Trailing the Ambani family, the Bajaj family ranks second with a valuation of Rs 7.13 trillion. The Pune-based automobile empire is led by Niraj Bajaj, a third-generation business leader. In third place, the Birla family, headed by fourth-generation leader Kumar Mangalam Birla, boasts a valuation of Rs 5.39 trillion. Their business interests span metals, mining, cement, and financial services. Together, the top three families represent a combined value of $460 billion, which is on par with Singapore’s GDP.

Other Notable Family Businesses

The report also highlights the Sajjan Jindal-led family in fourth place with a valuation of Rs 4.71 trillion and the Nadar family in fifth, valued at Rs 4.30 trillion. Notably, Roshni Nadar Malhotra is the only woman featured in the top 10 of this prestigious list.

While the list primarily focuses on multi-generational family businesses, it also acknowledges the Adani family as the most valuable first-generation business, with a valuation of Rs 15.44 trillion. This category also includes the Poonawalla family, known for the Serum Institute of India, valued at Rs 2.37 trillion, and the Divi family, another pharmaceutical giant, valued at Rs 91,200 crore.

Insights on Industry Contributions and Economic Impact

The Barclays-Hurun report underscores the significant contributions of these family-run businesses to India’s economic landscape. Anas Rahman Junaid, founder and chief researcher of Hurun India, emphasized the pivotal role these businesses play in enhancing India’s global competitiveness and economic resilience. Nitin Singh, head of Barclays Private Bank, Asia Pacific, highlighted a trend of deleveraging among these businesses, reflecting strong balance sheets and a focus on domestic opportunities to bolster the Indian economy.

Haldiram Snacks: India’s Most Valuable Unlisted Company

Haldiram Snacks stands out as India’s most valuable unlisted company with a valuation of Rs 63,000 crore. The company recently made headlines when U.S.-based private equity firm Blackstone expressed interest in acquiring it, although the deal has been delayed as current promoters seek a higher valuation.

Real Estate Majors Among Top Family Businesses

In the real estate sector, DLF Ltd. and Macrotech Developers were recognized as the most valued family businesses, with valuations of Rs 2,04,500 crore and Rs 1,12,200 crore, respectively.


Mohul Ghosh
Mohul Ghosh
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