Friday, October 23, 2020

The 10 Richest Families in Asia

published on: 27/09/2020 1:38 PM

As of September 2020, the 10 richest families in Asia have a net worth of US $ 250 billion.

This rich family comes from several countries, ranging from India, South Korea, Hong Kong, Singapore, and Thailand, Indonesia. 

Quoting Business Insider, Sunday (9/27/2020), here is a list of the 10 richest families in Asia recorded by the Bloomberg Billionaire Index.

1. The Ambani family from India
Leading the list of the richest families in Asia, the Ambani family from India has a wealth of US $ 88.3 billion.

The family’s wealth comes from the efforts of Mukesh Ambani, who is the sixth richest person in the world. He runs the company Reliance Industries, the oil and gas company he inherited from his father.

Mukesh has a brother, Anil Ambani, who was once a billionaire but is now estranged and reportedly penniless. Meanwhile, Mukesh Ambani’s children are all involved in the family business.

Now his entire family lives in a 27-story skyscraper in Mumbai. They are known to live in luxury, even holding wedding celebrations by inviting Beyonce as the main performer.

2. The Kwok family from Hong Kong
Next is the Kwok family who became a giant real estate developer from Hong Kong. Walter, Raymond, and Thomas Kwok inherited the real-estate company Sun Hung Kai Properties from their father in the 1990s. The total wealth of the Kwok family is the US $ 27.93 billion.

Walter, the oldest brother, was kicked out of the family business and died in 2018 after suffering a stroke. He passed his fortune on to his sons Jonathan and Geoffrey. Geoffrey’s performance at the company contributed greatly to the Kwok family’s property.

The reason is, now two of Walter’s other brothers, Raymond and Thomas were arrested in 2012 on charges of bribery. Raymond has been released, while Thomas is still serving a five-year sentence

3. The ‘Samsung’ Lee family from South Korea
The Lee family has led Samsung for three generations. Now Jay Y. Lee, is the heir and leader of the technology giant. The Lee family is recorded to have assets of US $ 26.47 billion.

However, Jay was recently indicted by South Korean prosecutors on charges of stock price manipulation. He has also been convicted of perjury, embezzlement, and bribery.

Now Jay is serving a five-year prison sentence. Earlier this year, he said he would not give Samsung managerial rights to his two children.

They also invested in Bank Central Asia (BCA), which is the largest bank in Indonesia. Their net worth is the US $ 25.7 billion.

Michael and Budi also used their wealth to invest in the real estate sector, especially in Jakarta. Meanwhile, Michael is also known as a Bridge card game athlete.

5. The Mistry family of India
Pallonji Mistry inherited the construction empire from his grandfather. Now Pallonji lives in Ireland.

He and his family have a large stake in Tata Sons, which is a holding of 30 companies based in India. The total family assets are valued at the US $ 22.6 billion.

Pallonji’s youngest son, Cyrus, was previously chairman of the Tata Sons, but he was ousted in 2016. Meanwhile, his eldest son, Shapoorji, owns Eureka Forbes, a brand of water purification in India.

6. The Cheng family from Hong Kong
The Cheng family controlled the assets of a Hong Kong-based jewelry company since 1929. They also run a well-known real estate company, Hotel Rosewood Group. The family’s net worth is the US $ 20.6 billion.

About 10 members of the Cheng family are involved in this business. Henry Cheng, starting his family dynasty, he now serves as chairman of the Chow Tai Fook Jewelry Group.

Henry’s daughter Sonia is the head of the Rosewood Hotel Group. His son, Adrian, is the vice-chairman of the real estate group that owns Rosewood.

7. The Lee family of Hong Kong
The Lee family presides over the Lee Kum Kee food and beverage empire. The business was initiated in 1888. Initially, Lee Kum Sheung accidentally found oyster sauce by cooking the soup too long.

The company now produces more oyster sauce than any other company in the world. The Lee family also ventured into the world of herbal health supplements and real estate. This family owns the famous Walkie-Talkie building in London.

The company is now led by Lee Man Tat. Meanwhile, her oldest son Charlie handles day-to-day operations, and his four other children are also involved in the family business. They have a net worth of US $ 19.1 billion.

8. The Kadoorie Family from Hong Kong
The Kadoorie family leads the largest energy supply company in Hong Kong, they provide electricity to 80% of Hong Kong. Michael Kadoorie is a key figure in the family’s fortunes, leading CLP Holdings and a number of hotels, including Peninsula Hotels.

Michael is the third generation of an influential Iraqi-Jewish family in Hong Kong. Now his family has a net worth of US $ 10.1 billion.

They live in a mansion in Hong Kong’s famous Deep Water Bay. Michael is currently preparing his three children to take over the corporate dynasty.

9. Chearavanont family from Thailand
The Chearavanont family is the owner of the Charoen Pokphand Group company. A holding company for food, retail and telecommunications from Thailand. The group is one of the largest animal feed producers in the world.

Dhanin Chearavanont is the senior chairman of the Charoen Pokphand Group. His two sons, Soopakij and Suphachai, served as chairman and CEO respectively.

This family has a wealth of US $ 4.95 billion. With their family’s wealth, they have contributed a lot of money to the Coronavirus relief efforts in Thailand.

10. The Quek family from Singapore
On the last list there is the Quek family from Singapore. About 15 members of the Quek family control the Hong Leong Group company. A holding company that does business in the hospitality sector to finance in Singapore and Malaysia.

The Quek family’s net worth is the US $ 4.79 billion. There are two key figures in the Quek family, firstly Quek Leng Chan who runs family business affairs in Malaysia. Meanwhile, Kwek Leng Beng, his cousin, runs a family business in Singapore.

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