India’s Ambanis top the list of the richest families in Asia

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Summary

• According to Bloomberg’s list of 20 wealthiest families in Asia, these families cover a massive wealth of US$463 billion.
• The richest family -- Ambani -- is worth a whopping US$76 billion, following with the Kwok, Chearavanont, Hartono, and Lee families.

Bloomberg posted the list of the wealthiest families in Asia in early November, where India’s Mukesh Ambani has retained his No. 1 position of September list.

The list includes families who have generated their wealth over several generations. It has excluded the first-generation wealthiest families, hence there are no families from mainland China.

Here, we take you through the Top 5 in the list of the richest families in Asia and their overall worth.

Family #1 – The Ambanis

India’s Mukesh Ambani family’s net worth is estimated at a whopping US$76 billion.

Mukesh, the CEO of Reliance Industries, operates the energy business. The group was founded by his late father Dhirubhai Ambani in 1973. His net worth makes Mr Mukesh the sixth richest person in the world.

When his father died, Mr Mukesh had a serious property-related dispute with his brother Anil. Their widowed mother needed to jump in to resolve the situation, leaving the Reliance to Mukesh, and some other assets to Anil. Anil reportedly claims to be penniless now, but in 2008, Forbes had estimated his net worth at A$42 billion.

The rest of Mukesh’s family is involved in the family business in one way or other. All his children have attended the prestigious US universities.

The family resides in the second most expensive real estate property on the planet (the first is the Buckingham Palace. It lives in a 27-story high building called Antilia in Mumbai, India. The family is also known for living extremely luxurious lifestyle. At the wedding ceremony of Mukesh’s daughter, Isha, renowned singers Beyonce and Chris Martin gave their performances.

Antilia, Ambani’s family residence constructed in 2010 (Source: Shutterstock)

Family #2 – The Kwoks  

The Hong Kong-based Kwok family is valued at US$33 billion, less than half of Mukesh’s total wealth.

The three Kwok brothers, Walter, Raymond, and Thomas inherited the real estate business Sun Kung Kai Properties from their late father in the 1990s.

However, the family has been hit by some unfortunate events, such as fatal diseases, imprisonment, the oldest brother being estranged from the family, among others.

Family #3 – The Chearavanonts

The Chinese-Thailand conglomerate family Chearavanont is worth US$31.7 billion.

Chia Ek Chor moved out from China to Thailand to start a better life. In 1921, Mr Chor started selling vegetable seeds with his brother in Bangkok.

Now, his company’s name, Charoen Pokphand Group, is widely recognised all across Thailand. . The company’s senior CEO is Chia’s son Dhanin.

The Group promised to be waste-free by 2030.

Family #4 – The Hartonos

The Indonesian ultra-rich family’s wealth was estimated to be US$31.3 billion.

Siblings Budi and Michael Hartono inherited a tobacco firm Djarum from their father. However, they did not restrict themselves to the tobacco business as they invested a portion of their wealth in Bank Central Asia, the largest bank in Indonesia.

At one stage, Michael Hartono wanted to become the best bridge player in the world.

Family #5 – The Lees

The South Korean family Lee is worth US$26.6 billion.

The multibillion-dollar fortune is attributed to the tech giant Samsung, which has been in Lee’s possession for three generations.

In the recent chain of events, South Korean authorities accused Samsung CEO Jay Y. Lee of manipulating the share prices.

Image Source: Shutterstock

Mr Lee has previously been charged with bribery, embezzlement, and perjury. He had completed one year of his sentence out of five he was initially handed, before the court dropped criminal charges against him.

Mr Lee has also said that he would not hand over Samsung’s managerial rights to his children.