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14 Indian families in Asia's richest list; Ambanis on 3rd

October 08, 2015 18:06 IST

India’s Ambani family combines the wealth of brothers Mukesh and Anil, who inherited most of their father’s fortune on his death in 2002 but opted to do businesses separately, says Forbes.

The Ambani family is ranked third on the Forbes list of richest Asians with a net worth of $21.5 billion. Photograph: Courtesy, Neeta Ambani/Facebook

As many as 14 Indian families have made it to the inaugural list of Forbes' 50 richest families in Asia, led by the Ambanis, who were ranked third on the list with a net worth of $21.5 billion.

Indians hold 14 of the 50 spots, the most from any jurisdiction.

The Premji family is ranked 7th on Asia's richest families list with a net worth of $17 billion. Photograph: Courtesy, PIB

Besides the Ambanis, the other Indian families in the top ten richest Asian business dynasties include the Premji family, ranked 7th with a net worth of $17 billion, and the Mistry family at the 10th place with a net worth of $14.9 billion.

With a wealth of around $11.4 billion, the Godrej family has secured 15 spot in Asia's richest families list. Photograph: Courtesy, Adi Godrej/Facebook

Other Indian families in the coveted list include Godrej family at 15th place with a fortune of $ 11.4 billion.

Lakshmi Mittal (right), Chairman and CEO, Arcelor Mittal's Family is ranked 19th on the list with a net worth of $10.1 billion. Photograph: PTI

ArcelorMittal group's Mittals (19th, $ 10.1 billion), Birlas (22nd, $7.8 billion), Bajajs (29th, $5.6 billion), Dabur India's Burmans (30th, $ 5.5 billion), Cadila Healthcare's Patels (33rd, $ 4.8 billion).

The Bajaj family secures 29th position in Asia's richest families list with a net worth of $5.6 billion. Photograph: Reuters

Eicher Group's Lals at (40th, $ 4 billion). Shree Cement's Bangur family was placed at 42nd rank with a net worth of $ 3.9 billion.

The overall list was topped by Lees of Samsung Group, whose 2014 revenues were equivalent to 22 per cent of South Korea's GDP.

Image: Congress MP Naveen Jindal with wife Shallu ' Photograph: Courtesy: http://www.naveenjindal.com/

Jindal family (43rd, $ 3.8 billion), Munjal family (46th, $ 3.2 billion) and Cipla's Hamieds at the 50th place with a fortune of $ 2.9 billion.

"While few dominate to such an extent, many business dynasties hold wide regional sway with their sprawling, cross-border empires," Forbes said.

Image: Chairman of Cipla Yusuf Hamied's Family is 50th on the riches Asian families list. Photograph: Reuters

Interestingly, nearly half of the richest families in Asia are of Chinese descent, yet none of the inaugural 50 is based in the mainland.

In the first-ever ranking of Asia's richest families, 50 clans hailed from ten Asian countries and were required to have a minimum of 3 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.