Asia's 50 Richest Families: 3 from India in Top 10

BANGALORE: Forbes Asia magazine recently published the list of the Asia's 50 richest families where the Samsung’s Lee family from South Korea topped the list, reports ET.

The current net worth of the worth stands at a whopping $26.6 bn where the 2^nd and 3^rd generation of the family has 50+ businesses.

Since its establishment in 1938 by wealthy landowner's son Lee Byung-Chull, Samsung has invested in many domains from mobile phones to construction and much more.

The Korean economy is immensely influenced by the earnings of this conglomerate of businesses owned by Lee family. The family contributed to around 22 pct of total GDP of Korea in 2014.

"Nearly half of the richest families in Asia are of Chinese descent, yet none of the inaugural 50 is based in the mainland, where conglomerates are young, run by the first generation," said a report.

On the second ranks stands the Hong Kong Chinese Lee family of Henderson Development with wealth of a staggering $24.1 bn.

The third position was secured by India’s Ambanis of the Reliance Group with a fortune of $21.5 bn and Thailand's Chearavanont family of Charoen Pokphand group ranked fourth with $19.9 bn. Kwok family from Hong Kong controlling the Sun Hung Kai property empire ranked fifth on the list with a wealth of $19.5 bn.

“Only families with business involvement extending to at least three generations were included in the survey”, said the magazine.

Other two Indian families that made it to the list are Premji of Wipro and Mistry of Shapoorji Pallonji Group with their fortunes of $17 bn and $14.9 bn respectively.

The list featuring the estimated wealth was formed using stock prices and exchange rates at the close of markets on September 25.

Here’s the top 10 richest families in Asia on the Forbes Asia list with their main businesses:

1. Lee from South Korea (Samsung): $26.6 bn

2. Lee from Hong Kong (Henderson): $24.1 bn

3. Ambani from India (Reliance): $21.5 bn

4. Chearavanont from Thailand (Charoen Pokphand): $19.9 bn

5. Kwok from Hong Kong (Sun Hung Kai): $19.5 bn

6. Kwek/Quek from Singapore, Malaysia (Hong Leong): $18.9 bn

7. Premji from India (Wipro): $17 bn

8. Tsai from Taiwan (Cathay Financial): $15.1 bn

9. Hinduja from India, Britain (Hinduja Group): $15 bn

10. Mistry from India (Shapoorji Pallonji Group): $14.9 bn

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