According to the latest Barclays-Hurun India report, the Ambani clan, with a net worth of Rs 25.75 trillion, is the richest and most valuable family in India. The Reliance tycoon’s staggering net worth is almost equivalent to 10 percent of India’s GDP. India is the 5th largest economy in the world in terms of nominal GDP and the 3rd by PPP (Purchasing Power Parity). However, on a per capita income basis, the country ranks abysmally low at 136.In early 2024, the company became the first Indian firm to hit a valuation of Rs 20 lakh crore. Meanwhile, as of August 2024, the Reliance conglomerate’s market cap is valued at Rs 19,64,608 crore. Followed by TCS, the Ambani family-led Reliance Industry Limited remains the most valuable company in India. While the Ambani family doesn’t draw salaries from their company, their security and other expenses in lieu of business are paid for by the company. The company has drawn some criticism off late for getting rid of 11% of its workforce as of FY24 for cost-cutting measures, even as they celebrated their youngest scion, Anant Ambani’s, wedding with Radhika Merchant at an estimated cost of Rs 5,000 crores with fat checks paid to global icons like Justin Bieber and Rihanna, who performed at their pre-wedding bashes.
The #Ambani family topped Barclays-Hurun India report’s most valuable family #businesses list with a valuation of ₹25.75 trillion- nearly equivalent to 10 per cent of #India’s #GDP.
Full story here: https://t.co/tYAt6xRyFT pic.twitter.com/WR1i68EzlJ— Hindustan Times (@htTweets) August 9, 2024
Meanwhile, according to the Barclays-Hurun India report, the second most valuable family in India is the Bajaj family at a valuation of Rs 7.13 trillion, followed by the Birla family at a valuation of Rs 5.39 trillion. The combined valuation of the top three most valuable families in India is equivalent to the GDP of Singapore. Jindal family, with a valuation of Rs 4.71 trillion, is in the 4th spot, while Nadar family, with a valuation of Rs 4.3 trillion, is ranked 5th. Mahindra family, with a valuation of Rs 3.45 trillion, is the 6th most richest and most valuable family in the country.
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