India, a land of over 302.4 million families, has a select few that have risen to the upper echelons of society, constituting the high class and the ultra-rich.
With strong roots and different stories each of these business families have come a long way with their talents and skills and is passing down its wealth to its next generation, leaving behind their legacy.
This list comprises of both- old business families that could be traced back to the pre-independence era to the families that have risen up in the modern times. Here are seven ultra-rich business families in India that have shaped the nation’s economic landscape and continue to do so.
Ambani Family
The Ambani family, synonymous with opulence and grandeur, has consistently grabbed headlines for their extravagant lifestyle and extravagant parties. Reliance Industries, the cornerstone of their empire, was founded by Dhirubhai Ambani. The business is now overseen by the third generation, including Isha Ambani, Anant Ambani, and Akash Ambani. Mukesh Ambani, leading Reliance Industries, holds the title of Asia’s wealthiest person with an estimated net worth of $87.2 billion as of May 2023.
Godrej Family
Rooted in tradition and innovation, the Godrej family’s legacy traces back 124 years. Ardeshir Godrej initiated their journey in 1897, and today, Adi Godrej stands at the helm. With businesses spanning from consumer products to real estate, the Godrej Group continues to thrive. Nisaba Godrej oversees Godrej Consumer Products, while Pirojsha Godrej steers Godrej Properties. The family’s net worth, as of 2022, stands at an impressive $13.9 billion.
Birla Family
The Aditya Birla Group, an embodiment of tradition and entrepreneurship, has roots dating back to 1857, when Seth Shiv Narayan Birla commenced their journey in the cotton trade. Kumar Mangalam Birla is now leading the diversified conglomerate with interests in metals, cement, finance, telecom, and retail. The family’s net worth stands at $15.5 billion. Moreover, Ananya Birla, Kumar Mangalam Birla’s daughter, is making waves on the international stage with her music.
Adani Family
Gautam Adani’s remarkable journey, from modest beginnings to becoming a tycoon, has captured the nation’s imagination. His businesses span various sectors, and his sons Jeet and Karan Adani are actively involved in the Adani Group’s growth. Priti Adani, Gautam’s wife, leads the Adani Foundation, showcasing the family’s commitment to philanthropy. The net worth of the family stood at $150 billion according to Forbes as of 2022.
Bajaj Family
Jamnalal Bajaj founded the Bajaj Group in 1926, and the family’s legacy continues under the guidance of Niraj R. Bajaj. Bajaj Auto, the flagship company, is recognized as a global player in two and three-wheeler manufacturing. The Bajaj family’s collective net worth of $14.6 billion, as of 2022, ranks them high among India’s wealthiest.
Tata Family
The Tata family’s contribution to India’s industrial landscape is immeasurable. Jamshetji Tata laid the foundation, and Ratan Tata played a pivotal role in steering the conglomerate through modern challenges. With their interests diversified across multiple sectors, the Tatas have cemented their place as a respected and influential family family.
Ratan Tata’s net worth is estimated to be Rs 3800 crore by the IIFL Wealth Hurun India Rich List 2022, with Tata Sons accounting for the majority of his wealth.
Mistry Family
The Mistry family’s Shapoorji Pallonji Group, established in 1865, epitomizes versatility and growth. Shapoor Mistry leads the conglomerate, which spans construction, real estate, textiles, shipping, and more. Cyrus Mistry, the younger son, chaired the Tata Group from 2012 to 2016, reflecting the family’s widespread influence. Shapoor Mistry, Pallonji Mistry’s son, manages the Shapoorji Pallonji Group, which has a net worth of roughly 32 billion US dollars.
These seven business families exemplify the Indian entrepreneurial spirit, blending tradition with innovation to shape the nation’s economy. As these families pass their wealth, knowledge, and legacy to future generations, their impact will undoubtedly continue to reverberate across India and the world.
