Forbes list of Asia’s Richest Families 2017 released: Ambani family tops the list

Nov 16, 2017 12:37 IST
Mukesh Ambani family

The 2017 Forbes list of Asia’s Richest Families was released on 15 November 2017. This year, the list is topped by India’s Mukesh Ambani family with a net worth of USD 44.8 billion, which is USD 19 billion increase from the previous year.

The Ambani family supersedes the Lee family of the Samsung empire to claim the first position. This is the first time that an Indian family has topped the Forbes list of Asia’s Richest Families.

The collective wealth of Asia’s 50 richest families on the list is a record USD 699 billion, a 35 per cent increase from last year.

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Key Highlights
• South Korea’s Lee family lost their first spot this year,  despite witnessing USD 11.2 billion increase in their wealth. Owner of Samsung Electronics, Lee family owns a wealth of USD 40.8 billion this year.
• Hong Kong’s Kwok family turned out to be Asia’s richest real estate family with 3rd rank in the list. Kwok family controls Sun Hung Kai Properties with a net wealth of USD 40.4 billion.
• Thailand’s Chearavanont family behind Charoen Pokphand Group, took the fourth spot on the list, with a net worth of USD 36.6 billion.
• A total of 43 families from the 2016 list saw increase in their wealth over the past one year, due to an overall 25 per cent jump in Asia’s stock markets.
• The newcomers in the list are Chey family (39th rank) of South Korea's SK Group, Yoovidhyas of Thailand (22nd rank), Sehgal family of India (41st rank) and Wadia family of India (42nd rank), and the Lees (30th rank) and Tungs (49th rank) of Hong Kong.

Top 10 families in Forbes list of Asia’s Richest Families

Rank

Family

Net Worth 

Country

1

Ambani

USD 44.8 billion

India

2

Lee (Byung-Chull)

USD 40.8 billion

South Korea

3

Kwok

USD 40.4 billion

Hong Kong

4

Chearavanont

USD 36.6 billion

Thailand

5

Hartono

USD 32 billion

Indonesia

6

Lee (Shau Kee)

USD 29 billion

Hong Kong

7

Kwek / Quek

USD 23.3 billion

Malaysia

8

Cheng Family

USD 22.5 billion

Hong Kong

9

Sy

USD 20.1 billion

Philippines

10

Chirathivat family

USD 19.3 billion

Thailand

Indian families in Forbes list of Asia’s Richest Families
• For the third time, India enjoys the biggest presence on the list, with 18 richest families, followed by Hong Kong with nine richest families.
• Mukesh Ambani family is the biggest gainer in dollar and percentage terms. Their net worth rose by USD 19 billion as shares of Reliance Industries soared high due to better refining margins and the increasing demand produced by its telecom arm Reliance Jio.
• The second richest family in India is the Premji family (USD 19.2 billion net worth), followed by the Mittal family (USD 17.2 billion); Mistry family (USD 16.1 billion) and Birla family (USD 14.1 billion).
• Among the newcomers from India on this year’s list include the Sehgal family (USD 6.15 billion) and the Wadia family (USD 6.14 billion).

Asia’s 50 Richest Families list 2017 is a summary of wealth of top 50 families which was calculated using stock prices and currency exchange rates from the close of markets on 3 November 2017. To qualify for the list, a family’s wealth must be rooted in Asia and participation of at least three generations should be there in building that fortune.

 

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