In the 2024 Hurun India Most Valuable Family Businesses list released by Barclays Private Clients on Thursday, Augsut 8, the Ambani, Bajaj, Birla, and Jindal families secured top positions. Notably, Gautam Adani's conglomerate was absent from the top ten.

The Ambani Family, led by Mukesh Ambani, topped the list with a staggering valuation of Rs.25,75,100 crore. They were followed by the Bajaj Family, headed by Niraj Bajaj, with a valuation of Rs.7,12,700 crore, and the Kumar Mangalam Birla family at Rs.5,38,500 crore. Despite Adani Group’s impressive valuation of Rs.15,44,500 crore, it did not make the top ten as it is classified as a first-generation family business.

The report clarified that the 2024 Hurun India Most Valuable Family Businesses list focuses on businesses with next-generation family involvement. First-generation businesses like the Adani Group are not included in this list. "For first-generation families, Adani family leads among those founded by first-generation entrepreneurs, supported by their next generation," stated the report.

Other notable mentions among first-generation families included the Poonawalla Family, led by Cyrus Poonawalla, valued at Rs.2,37,100 crore. The Divi Family and the Reddy Family followed, each valued at Rs.91,200 crore and Rs.88,800 crore, respectively.

The Hurun India report emphasizes the role of next-generation family members in managing or serving on the board of the business to qualify for the list. This criterion highlights the significant impact of family businesses on India’s economic growth and stability.

The valuation process for the list excludes private investments and liquid assets and adjusts for cross holdings to avoid double counting.

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