Indians dominate Forbes 2017 list of Asia's 50 richest families
Seventeen Indian business dynasties have made it to the Forbes 2017 list of Asia's 50 Richest Families. With a net worth of $44.8 billion, the Ambanis have topped the list for the first time, thanks to the bumper success of their newly-launched telecom arm, Reliance Jio. The total wealth of the 50 families is estimated to be $699 billion, a 35% increase from 2016.
Premji, Birla, Mistry, Godrej, Bajaj also on the list
Other families that feature on the list include: 11. Premjis | $19.2bn | Wipro 14. Mittals | $17.2bn | ArcelorMittal 16. Mistrys | $16.1bn | Shapoorji Pallonji group 19. Birlas | $14.1bn | Diversified 20. Godrejs | $14bn | Godrej group 26. Bajajs | $9.3bn | Bajaj group 32. Jindals | $7.68bn | Jindal group 35. Burmans | $7.05bn | Dabur group
Samsung's Lees at No. 2, Hong Kong's Kwok family next
The family behind Samsung Electronics, Korea's Lees, are at No. 2. Despite a considerable increase in their wealth this year ($29.6bn), the Lee family lost its top spot from last year to the Ambanis, who were then two spots behind them. Asia's richest real estate group, Hong Kong's Kwok family features at No. 3 this year with a net worth of $40.4 billion.
43 clans on the 2016 list have become richer since
As per the MSCI AC Asia Index, the wealth of 43 clans featured on the 2016 has increased in the last one year, mostly because of an overall 25% rise in Asia's stock markets for the year ended October 31.
