India’s three richest families—the Ambanis, Bajajs, and Birlas—hold a combined wealth of $460 billion, a figure comparable to the GDP of Singapore. This staggering valuation highlights the dominance of these family businesses in the Indian economy.
Ambani Family Leads the Pack
Topping the list is the Ambani family, with a net worth of Rs 25.8 lakh crore ($309 billion). The family’s vast business empire, which includes Reliance Industries, secures their place as the wealthiest in India, according to the Barclays Private Clients Hurun India most valuable family businesses list.
Bajaj and Birla Families Follow
Following the Ambanis, the Bajaj family, led by Niraj Bajaj, ranks second with a valuation of Rs 7.1 lakh crore. The Birla family, headed by Kumar Mangalam Birla, ranks third with a net worth of Rs 5.4 lakh crore. These families have established themselves as pillars of Indian industry through their diverse and long-standing business ventures.
Adani Family Tops First-Generation Entrepreneurs
The Adani family, known for their rapid rise in wealth, leads the list of first-generation entrepreneurs with business interests valued at Rs 15.4 lakh crore. They are followed by the Poonawalla family, who manage the Serum Institute of India, valued at Rs 2.4 lakh crore, and the Divi family, overseeing Divi’s Laboratories, valued at Rs 91,200 crore.
Business Families’ Total Wealth Exceeds GDP of Switzerland and UAE
The combined wealth of the families on the 2024 list amounts to $1.3 trillion, surpassing the GDP of countries like Switzerland and the UAE. To qualify for the list, a family business must have a minimum value of Rs 2,700 crore, with 124 families boasting a net worth of at least $1 billion.
Notable Highlights
- The Benu Bangur family leads in share price growth since inheritance, with a 571-fold increase, followed by the Taparia and Dharmpal Agarwal families.
- Haldiram Snacks stands out as the most valuable unlisted company in India, valued at Rs 63,000 crore.
- The list also includes 15 companies led by women and 53 managed by professional CEOs, showcasing the diversity in leadership.
Legacy Businesses and Long-Standing Traditions
The Gadgil family, with their six-generation-old jewellery business PN Gadgil & Sons, valued at Rs 3,900 crore, and the Wadia Group, led by Nusli Wadia and valued at Rs 1,28,900 crore, are at the forefront of long-standing family businesses. The Burman family of Dabur India and the Shriram family of DCM Shriram are notable for their five-generation-old enterprises.
These figures underscore the significant impact and legacy of India’s wealthiest families, who continue to shape the country’s economic landscape.
