Forbes Asia 50 Richest Families: India leads with 18, followed by Hong Kong with 9; Ambanis rank 1 with $44.8 bn

Mumbai: India’s Akash, Isha, Anant, Nita and Mukesh Ambani together with $44.8 billion family wealth topped the list of Forbes Asia 50 Richest Families, according to a report in Financial Express that cited Forbes magazine. Forbes draws the index every year after it evaluates certain parameters. This is the third consecutive year that the country, now with 18 richest families, has held the number one rank in most number of richest families in Asia. After India, it was South Asian state of Hong Kong that grabbed the second slot with 9 such families.  Mukesh Ambani, his wife and three kids saw their wealth rise by a staggering $19 billion over past year. Korea’s Lee family that owns Samsung Electronics recorded its wealth rise by $11.2 billion riding some good performance by company’s stock on bourses. As a result, Lee family’s asset value came in at $40.8 billion ranking it number two on the index. Shares of Samsung Electronics jumped 75 percent over past year. Other Indian families that made to the list are: Family of Wipro founder Azim Premji at 11th rank with $19.2 billion net worth, Hindujas at 12th with $18.8 billion, the Mittals at 14th with $17.2 billion), the Mistrys at 16th with $16.1 billion and the Birlas at 19th with $14.1 billion, the FE report said. The Ambanis are the only Indian family on the top 10 richest families list in Asia. “No family highlights this surge better than the Ambanis of India, this year’s biggest gainer in dollar and percentage terms,” Forbes said. Shares of Mukesh Ambani led energy giant Reliance Industries zoomed in the aftermath of improved refining margins and the demand spurred by its telecom arm, Reliance Jio which has garnered a whopping 140 million subscribers only in months since its launch in 2016, the report said. (Disclosure: Reliance Industries Ltd is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd))