Forbes Asia’s Richest Families list released

Families from India hold 14 spots in Forbes Asia's inaugural ranking of the top 50 Asian business families with the Ambani family third on the list with a combined fortune of 21.5 billion dollar.

Created On: Oct 9, 2015 12:42 ISTModified On: Oct 9, 2015 14:40 IST

Forbes on 7 October 2015 released the inaugural list of Forbes' 50 richest families in Asia. The list was topped by Lee (Byung-Chull) family of South Korea with 26.6 billion dollar. The revenue of Lees of Samsung Group in 2014 was equivalent to 22 percent of South Korea’s GDP.

Forbes on 7 October 2015 released the inaugural list of Forbes' 50 richest families in Asia. The list was topped by Lee (Byung-Chull) family of South Korea with 26.6 billion dollar. The revenue of Lees of Samsung Group in 2014 was equivalent to 22 percent of South Korea’s GDP.


10 richest in the list are

Rank

Name

Net Worth

Source

Citizenship

1

Lee (Byung-Chull) family

26.6 billion dollar

Samsung

South Korea

2

Lee (Shau Kee) family

24.1 billion dollar

Henderson Development

Hong Kong

 

3

Ambani family

21.5 billion dollar

Reliance Group

India

4

Chearavanont family

19.9 billion dollar

Charoen Pokphand (CP) Group

Thailand

5

Kwok family

19.5 billion dollar

Sun Hung Kai & Co

Hong Kong

6

Kwek / Quek family

18.9 billion dollar

Hong Leong group

Malaysia

7

Premji family

17 billion dollar

Wipro

India

8

Tsai (Wan-Tsai) family

15.1 billion dollar

Cathay Financial

Taiwan

9

Hinduja family

15 billion dollar

Hinduja Group

United Kingdom

10

Mistry family

14.9 billion dollar

Shapoorji Pallonji Group

India

Indian families in the list includes
• Ambani family of Reliance Group was ranked at 3rd position with combined wealth of 21.5 billion dollar
• Premji family of Wipro was ranked at the 7th position with combined wealth of 17 billion dollar
• Mistry family of Shapoorji Pallonji Group was ranked at 10th position with wealth of 14.9 billion dollar
• Goodrej family of Godrej Group was ranked at 15th position with wealth of 11.4 billion dollar
• Mittal family of ArcelorMittal was ranked at 19th position with combined wealth of 10.1 billion dollar
• Birla family of Aditya Birla Nuvo Ltd. was ranked at 22nd position with combined wealth of 7.8 billion dollar
• Bajaj family of Bajaj Group was ranked at 29th position with combined wealth of 5.6 billion dollar
• Burman family of Dabur India Ltd. was ranked at 30th position with combined wealth of 5.5 billion dollar
• Patel family of Cadila Healthcare was ranked at 33rd position with combined wealth of 4.8 billion dollar
• Lal family of Eicher Group was ranked at 40th position with combined wealth of 4 billion dollar
• Bangur family of Shree Cement was ranked at 42nd position with combined wealth of 3.9 billion dollar
• Jindal family of Jindal Group was ranked at 43rd position with combined wealth of 3.8 billion dollar
• Munjal family of Hero Group was ranked at 46th position with combined wealth of 3.2 billion dollar
• Hamied family of Cipla was ranked at 50th position with combined wealth of 2.9 billion dollar


Nearly half of the richest families in Asia are of Chinese descent, yet India with 14 in the list has the most spots from any jurisdiction. This is because most of the richest families in China are based out of the mainland, where conglomerates are young, run by the first generation able to muster billions of dollars in wealth in an open economy.

The qualifying criteria

To qualify, a family’s wealth and participation in building that fortune has to extend at least three generations and the minimum net worth required to qualify was 2.9 billion dollars. The valuations were based on stock prices and exchange rates on 25 September 2015.

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