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Forbes Asia’s Richest Families list released

October 9, 2024Awards & HonoursOmkar Sawant

Forbes 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.

Who are Top 10?

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

Name Business Rank Wealth
Ambani family Reliance Group 3rd 21.5 billion dollar
Premji family Wipro 7th 17 billion dollar
Mistry family Shapoorji Pallonji Group 10th 14.9 billion dollar
Goodrej family Godrej Group 15th 11.4 billion dollar
Mittal family ArcelorMittal 19th 10.1 billion dollar
Birla family Aditya Birla Nuvo Ltd. 22nd 7.8 billion dollar
Bajaj family Bajaj Group 29th 5.6 billion dollar
Burman family Dabur India Ltd. 30th position 5.5 billion dollar
Patel family Cadila Healthcare 33rd 4.8 billion dollar
Lal family Eicher Group 40th 4 billion dollar
Bangur Shree Cement 42nd 3.9 billion dollar
Jindal family Jindal Group 43rd 3.8 billion dollar
Munjal family Hero Group 46th 3.2 billion dollar
Hamied family Cipla 50th 2.9 billion dollar

India vs China

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.

What was 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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