BENGALURU: With as many as fourteen richest families, it’s no surprise that India among all the Asian nations is a key player in several political, economic decisions. In the recent list published by Forbes’ 50 Richest Families in Asia, it has been revealed that India is home to fourteen richest families in Asia including the evergreen Ambanis, Premji, and Mistry in the top ten— ranked third, seventh and tenth respectively. While the net worth of Ambanis’ Reliance Industries is $21.5 billion, Wipro’s billionaire founder Azim Premji’s net worth is marked at $17 billion. The billion-dollar business dynasties which followed the duo in the top ten from India are the Hinduja Group with $15 billion in the ninth position and Mistry family ranked tenth with a net worth of $14.9 billion.
The list is led by the Lee family, whose Samsung group revenues in 2014 were equivalent to 22 percent of South Korea’s GDP followed by the Lee (Shau Kee) family who holds the $24.1 billion Henderson Development. Interestingly enough, almost half of the richest families in Asia are of Chinese descent; however none of the 50 richest families is based in the Mainland China, as reported by ET. In the first-ever ranking of Asia's richest families, 50 clans hailed from ten Asian countries who were required to have a minimum of three generations actively involved in building their respective fortunes. The barrier to entry was $2.9 billion and valuations are based on stock prices and exchange rates as on September 25.
Adhering to this jurisdiction, the coveted list positioned the Godrej family, Mittal family, Birlas and Bajaj ranked 15, 19, 22 and 29. Dabur India’s Burman family ranked 30, with net worth of $5.5 billion stands out in the list of India’s richest families having been featured on the cover of the magazine. Anand Burman, the 63-year-old, fifth-generation scion and non-executive chairman of family-owned Dabur has seen net profits grow 24-fold, and market cap soar 40-fold since 1998, Forbes noted.
As almost all of the Indian families that are mentioned in the list hold a huge regional stake Fobes remarks— "While few dominate to such an extent, many business dynasties hold wide regional sway with their sprawling, cross-border empires." The Patels of Cadila Healthcare, Lals of Eicher Group, Bangur family of Shree Cement, Jindal group, Munjals of the Hero family and Cipla’s Hamied family are placed 33, 40, 42, 43, 46 and 50 respectively.
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