‘Ambani family accounts for 40% of the MF industry’s AUM’

The recent Barclays Private Clients Hurun India Most Valuable Family Business Report reveals that the Ambani family accounts for one-tenth of India's GDP or 40% of the MF industry’s AUM in March 2024.

Further, the report shows that the Adani family tops the list of first-generation family businesses.

These rankings are determined using company valuations as of March 20, 2024. The methodology excludes private investments and liquid assets and adjusts for cross-holdings to prevent double counting.

Top 10 most valuable family businesses in India

The Ambani family has been named the "most valuable family business" in India, topping the 2024 Barclays Private Clients Hurun India Most Valuable Family Businesses list. According to the report, the Ambanis' business is valued at Rs. 25.75 lakh crore. The Bajaj family ranks second with net worth of Rs. 7.12 lakh crore followed by the Kumar Mangalam Birla family with net worth of Rs. 5.38 lakh crore.

Let’s look at the table to know the top 10 most valuable family businesses in India.

Top 10 first generation family business in India

The Adani family leads the list of first-generation family businesses in the country. With a net worth of Rs. 15.44 lakh crore, the owners of Adani Enterprises have claimed the top spot. The Poonawalla family, owners of the Serum Institute of India, ranks second with a net worth of Rs. 2.37 lakh crore. The Divi family, who own Divi’s Laboratories, ranks third with a net worth of Rs. 91,200 crore.

Let's check the table to know the top 10 first generation family businesses in India:

In a press release, Anas Rahman Junaid, Founder and Chief Researcher, Hurun India, said, “India family businesses are the heartbeat of the nation's economy, embodying resilience, innovation and deep-rooted legacy of entrepreneurial spirit. With 28 companies in the industrial products sector valued at Rs.4.59 lakh crore and 23 companies in the automobile sector and 22 in the pharmaceuticals sector valued at Rs.1.88 lakh crore and Rs.7.88 lakh crore respectively, these businesses are pivotal in enhancing India's global competitiveness and economic resilience. The significant industry diversification of these family businesses demonstrates their essential role in maintaining and advancing long-term economic stability and growth in India."

Other key highlights of the report include:

• Mumbai is the top headquarters destination for these leading business families, with around 65 headquarters located in the city, followed by Kolkata with 17 and Delhi with 15
• 75% of the companies listed in the Hurun report are publicly traded
• 85% are involved in the production of physical products and 15% are service-based companies
• Additionally, 53% of these companies are consumer-facing
• Haldiram Snacks has been recognized as India’s most valuable unlisted company, with a valuation of Rs. 63,000 crore
• The 2024 Barclays Private Clients Hurun India Most Valuable Family Businesses report features 15 companies led by women.
• The top three women leaders on the list are Roshni Nadar Malhotra of HCL Technologies, Nisaba Godrej of the Godrej family, and Manju D. Gupta of Lupin
• Industrial products dominate the list, with 28 companies, followed by the automobile and auto components sector with 23 companies and the pharmaceutical sector with 22 companies
• The Wadia Group is the oldest family-operated company on the list, with a valuation of Rs. 1.28 lakh crore