Forbes Asia’s Richest Families list released

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Who: Forbes Asia’s Richest Families list
What: Released
When: 7 October 2015

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.