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Who is on the top? Asia’s Richest Families List; 18 Indian Clans make it to the Prestigious List

We know some of the million-billionaires around the world. But do you know the billionaires of Asia? Here’s a list of the richest families that featured Forbes magazine.

India’s richest man, Mukesh Ambani, has added another feather to his cap. The Ambani family has topped the Forbes list of Asia’s Richest Families for the first time.

The collective wealth of Asia’s 50 richest families on the list is a record $699 billion, up 35 percent from last year, Forbes said in a statement on November 15, 2017.

Despite dropping to the No. 2 spot, Korea’s Lee family still saw their wealth soar by $11.2 billion to $40.8 billion this year, as shares of Samsung Electronics are up 75 percent over the past year.
 
Hong Kong’s Kwok family, Asia’s richest real estate family which controls Sun Hung Kai Properties, ranks No. 3 this year with a net wealth of $40.4 billion. Thailand’s Chearavanont family behind Charoen Pokphand Group, takes the fourth spot on the list, with a net worth of $36.6 billion.

“The cascading wealth of Asia’s very richest active tycoons is reshaping the ranks of even this legacy-driven list. Because of India’s size, the Ambanis can never be as dominant there as Samsung’s Lees have been in Korea. But with Mukesh’s next generation establishing a presence at the Reliance Jio telecom operation, this story could play out for years,” Tim Ferguson, Editor of Forbes Asia, said.

For the third time, India enjoys the biggest presence on the list, with 18 families. Hong Kong follows with nine.

The Ambani family is this year’s biggest gainer in dollar and percentage terms. Their net worth rose by $19 billion as shares in Mukesh Ambani’s conglomerate Reliance Industries soared in the past year due to better refining margins and the demand produced by its telecom arm, Reliance Jio. Since its launch in 2016, Jio has notched up close to 140 million subscribers. Mukesh Ambani’s younger brother Anil runs Reliance Communications. The Ambani family supersedes the Lees of the Samsung empire to claim the No. 1 spot.

The second richest family in India is the Premji family (Rank 11; $19.2 billion net worth), followed by the Mittal family (Rank 14; $17.2 billion); Mistry family (Rank 16; $$16.1 billion) and Birla family (Rank 19; $14.1 billion); to round up the top five richest Indian families on the list.

Among the newcomers from India on this year’s list include the Sehgals (No. 41, $6.15 billion) and the Wadias (No. 42, $6.14 billion).

A total of 43 clans from the 2016 list saw their wealth increase over the past one year, mainly due to an overall 25 percent jump in Asia’s stock markets for the year ended October 31, according to the MSCI AC Asia Index.

Asia’s 50 Richest Families list is a snapshot of wealth using stock prices and currency exchange rates from the close of markets on November 3, 2017. Private companies were valued based on similar companies that are publicly traded. To qualify, a family’s wealth must be rooted in Asia and participation in building that fortune has to extend at least three generations.

 

Here is the full list:

 

Family

Net Worth 

Country

1

Ambani

$44.8 billion

India

2

Lee (Byung-Chull)

$40.8 billion

South Korea

3

Kwok

$40.4 billion

Hong Kong

4

Chearavanont

$36.6 billion

Thailand

5

Hartono

$32 billion

Indonesia

6

Lee (Shau Kee)

$29 billion

Hong Kong

7

Kwek / Quek

$23.3 billion

Malaysia

8

Cheng Family

$22.5 billion

Hong Kong

9

Sy

$20.1 billion

Philippines

10

Chirathivat family

$19.3 billion

Thailand

11

Premji

$19.2 billion

India

12

Hinduja

$18.8 billion

India

13

Tsai (Wan-Tsai & Wan-Lin)

$17.7 billion

Taiwan

14

Mittal

$17.2 billion

India

15

Kuok

$16.6 billion

Singapore

16

Mistry

$16.1 billion

India

17

Chung

$14.8 billion

South Korea

18

Saji

$14.2 billion

Japan

19

Birla

$14.1 billion

India

20

Godrej

$14 billion

India

21

Pao

$13.4 billion

Hong Kong

22

Yoovidhya family

$13.1 billion

Thailand

23

Kadoorie

$11 billion

Hong Kong

24

Widjaja

$10.4 billion

Indonesia

25

Ng

$9.7 billion

Singapore

26

Bajaj

$9.3 billion

India

27

Salim

$8.8 billion

Indonesia

28

Koo Family (In-Hwoi)

$8.7 billion

South Korea

29

Lohia

$8.68 billion

Indonesia

30

Lee

$8.4 billion

Hong Kong

31

Law

$7.8 billion

Hong Kong

32

Jindal

$7.68 billion

India

33

Mori

$7.6 billion

Japan

34

Tsai (Eng-Meng)

$7.1 billion

Taiwan

35

Burman

$7.05 billion

India

36

Lal

$7 billion

India

37

Bangur

$6.7 billion

India

38

Khoo

$6.4 billion

Singapore

39

Chey

$6.3 billion

South Korea

40

Wee

$6.25 billion

Singapore

41

Sehgal

$6.15 billion

India

42

Wadia

$6.14 billion

India

43

Zobel

$6.13 billion

Philippines

44

Singh

$6.1 billion

India

45

Patel

$6 billion

India

46

Kwee

$5.5 billion

Singapore

47

Piramal

$5.38 billion

India

48

Munjal

$5.37 billion

India

49

Tung

$5.2 billion

Hong Kong

50

Lo

$5 billion

Hong Kong

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