The 10 richest family 'dynasties' in Asia, who have a collective net worth of over $250 billion
Reuters
- The 10 richest family dynasties in Asia have a collective net worth of over $250 billion.
- Here's a look at the ultra-rich dynasties who have inherited their wealth, from the descendants of the man who accidentally invented oyster sauce, to the Ambanis, who are energy scions known for living lavishly.
- All net worth data comes from Bloomberg's Billionaire Index and is up to date as of September 2020. The list below is comprised of those featured on Bloomberg's index whose wealth is classified as inherited.
- Visit Business Insider's homepage for more stories.
Mike Pont/WireImage
Location: Singapore/Malaysia
Roughly 15 Kwek/Quek family members control Hong Leong Group, a conglomerate with a wide range of holdings, from hospitality to finance. Quek Leng Chan, whose net worth is $4.79 million, runs the family's Malaysian business dealings while Kwek Leng Beng, his cousin, runs the family's Singaporean business dealings.
9. The Chearavanont family is worth $4.95 billion.Sukree Sukplang SS/TW/Reuters
Location: Thailand
The Chearavanont family owns Charoen Pokphand Group, a food, retail, and telecom conglomerate. The group is one of the largest producers of animal feed and livestock in the world, and was started by one man selling vegetable seeds in 1921. Dhanin Chearavanont, whose net worth is $4.95 billion, serves as the senior chairman of the group, with his two sons, Soopakij and Suphachai, serving as the chairman and CEO, respectively. The family's conglomerate has donated millions to coronavirus relief efforts in Thailand.
8. The Kadoorie family is worth $10.1 billion.Jonathan Wong/South China Morning Post via Getty Images
Location: Hong Kong
The Kadoorie family owns the largest energy supplier in Hong Kong — they provide electricity for 80% of Hong Kong. Michael Kadoorie, whose net worth is $10.1 billion, serves as the chairman of CLP Holdings and a number of hotels, including the Peninsula Hotels. He is the third generation of the Iraqi-Jewish family to helm the empire.
He and his wife live in a $30 million mansion in Hong Kong's famously ritzy Deep Water Bay, according to Bloomberg, and share three children. Kadoorie previously told the South China Morning Post that he was grooming all three children to take over empire.
7. The Lee family is worth $19.1 billion.Kevin Schafer/Contributor/Getty Images
Location: Hong Kong
The Lee family presides over food and beverage empire Lee Kum Kee, which was started in 1888 when Lee Kum Sheung accidentally invented oyster sauce by overcooking a soup. The company now makes more oyster sauce than any other company in the world.
The family has also dabbled in herbal health supplements and real estate — they even own London's famous Walkie-Talkie building.
Lee Man Tat, who serves as the chairman of the conglomerate, has a net worth of $19.1 billion. His oldest son, Charlie, handles day-to-day operations and all four of his other children are also involved in the family business.
6. The Cheng family is worth $20.6 billion.Nora Tam/South China Morning Post via Getty Images
Location: Hong Kong
The Cheng family controls a number of lucrative assets, including a Hong Kong-based jeweler that dates back to 1929 and a real estate group that owns the famed Rosewood Hotel Group. Roughly 10 Chen family members are involved in the business, with Henry Cheng, whose father started the empire, serving as the chairman of Chow Tai Fook Jewellery Group. His net worth is $20.6 billion.
Henry's two children are also involved in the family business. His daughter Sonia is at the head of the Rosewood Hotel Group, while his son Adrian is the vice chairman of the real estate group that owns Rosewood. Both are Harvard educated.
5. The Mistry family is worth $22.6 billion.Vikas Khot/India Pictures/Universal Images Group via Getty Images
Location: India, Ireland
Pallonji Mistry, worth $22.6 billion, inherited a construction empire from his grandfather. Forbes has referred to Mistry, who is Indian but based in Ireland, as "reclusive." He and his family hold a large stake in Tata Sons, which is a conglomerate of 30 companies.
Mistry's younger son Cyrus was previously the chairman of Tata Sons, but he was ousted in 2016. His oldest son, Shapoorji, owns Eureka Forbes, a water-purifying brand in India.
4. The Hartono family is worth $25.7 billion.Anthony Wallace/AFP via Getty Images
Location: Indonesia
Brothers Michael and Budi Hartono inherited the cigarette brand Djarum from their father. They diversified the fortune by investing in Bank Central Asia, the largest bank in Indonesia. Michael is also a renowned bridge player. Their combined net worths make up $25.7 billion and they use their fortune on perks like prime real estate in Jakarta.
3. Samsung's Lee family is worth $26.74 billion.Reuters
Location: South Korea
Industry: Technology
The Lee family has helmed Samsung for three generations. Jay Y. Lee, an heir and the tech giant's current leader, was just indicted by South Korean prosecutors on charges of manipulating stock prices. He also was previously convicted of perjury, embezzlement, and bribery. He served one year of his five-year prison sentence before an appeals court dropped his sentence. Earlier this year, he said that he will not pass Samsung managerial rights to his two children.
His net worth, along with the net worth of his father, Lee Kun Hee, makes up $26.47 billion.
2. The Kwok family is worth $27.93 billion.MIKE CLARKE/AFP/Getty Images
Location: Hong Kong
Industry: Real estate
Brothers Walter, Raymond, and Thomas Kwok inherited real-estate developer Sun Hung Kai Properties from their father in the 1990s.
Walter, the oldest brother, was ousted from the family business and died in 2018 after having a stroke. He left his fortune to his sons, Jonathan and Geoffrey. Geoffrey's net worth contributes to the figure above along with the net worths of Raymond and Thomas, who were arrested in 2012 on charges of bribery. Raymond was acquitted while Thomas served five years in prison.
1. The Ambani family is worth $88.3 billion.Reuters
Location: India
Industry: Energy
Mukesh Ambani is the sixth-richest person on the planet. He is the chairman of Reliance Industries, an oil and gas company he inherited from his father. His net worth makes up the figure above. He has a brother, Anil, who was also previously a billionaire, but is now estranged and reportedly penniless.
Mukesh Ambani's children are all involved in the family business in some capacity. The entire family lives in a 27-story skyscraper in Mumbai. They are known for living lavishly — they even hosted a wedding celebration complete with a private Beyoncé concert.
from Business Insider https://ift.tt/3mLTVXz
No comments