Top 10 Richest Families In Asia: Can You Guess Who Made The List?
Samsung's Lee family used to be at #1... They have since been replaced.
Since the remake of Dynasty has been released on Netflix, I’m sure it is on all of our lists. (Guilty pleasure!) But what is most fascinating about the show isn’t its scheming or plot twists, it is watching how the 0.01% lives (even if it seems like it has been exaggerated for TV (but really, it’s not far off).
So, just like watching the fictional Carringtons on our big screen TVs at home, we too are curious about how the 0.01% of our ACTUAL world lives. (Let’s not pretend that we’re not super excited about the release of the upcoming Crazy Rich Asians movie.)
And in the real world, these 10 richest families in Asia are richer and more powerful than the Carringtons.
Here are the top 10 richest families in Asia:
10. The Chirathivat Family, Thailand, US$19.3 billion
Worth almost US$20 billion, the Chirathivat family are actually migrants from China. Tiang Chirathivat migrated to Siam from Hainan and settled in Bangkok in 1927. He had 26 children with three wives that resulted in roughly 220 Chirathivat offspring. Today, 51 of them are involved in the family business — The Central Group. It owns more than 60 department stores and shopping malls as well as operates hotels and restaurants, with a total of 5,000 outlets.
9. The Sy Family, Philippines, US$20.1 billion
At ninth place is the Sy family. Henry Sy is the patriarch of this wealthy family, which dabbles in industries of real estate, hospitality, banking, mining, education, and healthcare. He is responsible for the establishment of SM Malls, anchored by Shoemart Department Store and Supermarket. He is also the richest man in the Philippines.
8. The Cheng Family, Hong Kong, US$22.5 billion
The Cheng family fortune is thanks to the New World conglomerate and Chow Tai Fook, the world’s largest jewellery chain with 2,200 outlets in mainland China alone. The family’s business includes extensive property investment, development and service businesses, hotels, infrastructure, jewellery retailing, and transportation interests in Hong Kong, Macau, United States, Australia and elsewhere. The Chengs also own Knight Dragon, master developer for the makeover of London’s Greenwich Peninsula.
7. The Kwek Family, Singapore/Malaysia, US$23.3 billion
This is the founding family of Hong Leong Group, with interests ranging from finance to property. The conglomerate is made up of more than 300 companies, including 12 listed ones. Also under them is City Developments Limited, an international property and hotel conglomerate and the leading real estate developer in Singapore. It operates in 20 countries in Asia, Europe, North America, and Australasia. CDL has over 250 subsidiaries and associated companies including 8 companies listed on the stock exchanges of Singapore, London, Hong Kong, Amsterdam, New Zealand, and Manila.
6. The Lee Family, Hong Kong, US$29 billion
The Lees in Hong Kong have amassed their wealth through Henderson Land Development, a property conglomerate with interests in properties, hotels, restaurants and internet services. This family is also linked to Hong Kong and China Gas Company Limited, Miramar Hotel and Investment, Sun Hung Kai Properties, Hong Kong Ferry (Holdings) Limited and The Bank of East Asia Limited.
5. The Hartono Family, Indonesia, US$32 billion
Who knew running a cigarette company could be so lucrative? The Hartonos run privately held Djarum, the world’s third-largest maker of clove cigarettes. But beyond the vice business, the Hartonos also has a stake in one of Indonesia’s biggest banks, Bank Central Asia.
4. The Chearavanont Family, Thailand, US$36.6 billion
Chances are, if you live in Asia, you would have consumed a CP product. Even if you may not know the founders. The Chearavanonts own CP Group, Thailand’s largest private company. It is one of Asia’s largest conglomerates and operates in agriculture, telecommunications, marketing, distribution and logistics, international trading, petrochemicals, property and land development, crop integration, insurance, automotive, and pet foods. They also own the Lotus Supermarket chain in China.
3. The Kwok Family, Hong Kong, US$40.4 billion
Known globally for their role in property, the Kwok family’s wealth is deeply rooted in Sun Hung Kai Properties, the largest real estate company in Asia.
2. The Lee (Byung-Chull) Family, South Korea, US$40.8 billion
Samsung is South Korea’s largest business group and it is under the Lee family. When it first started in 1938, Samsung was a totally different business, dabbling in trading. It later entered the electronics industry in the 1960s and the construction and shipbuilding industries in the mid-1970s. Today, it has added construction, insurance, theme park and advertising, to name a few, to its business portfolio.
1. The Ambani Family, India, US$44.8 billion
Despite being the richest family in Asia, the Ambanis live a simple life. The family controls Reliance Industries Limited (RIL), a Fortune Global 500 company and India’s most valuable company by market value. Reliance owns businesses across India with strongholds in energy, petrochemicals, textiles, natural resources, retail, and telecommunications. Reliance is one of the most profitable companies in India. In 2007, Reliance Industries became the first Indian company to breach US$100 billion market capitalisation.
So, there you have it! These are the top 10 richest families in Asia.
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