Ambanis ranked 3rd in 50 richest Asian families

Family is very important is Asian countries and richest Indian families made the list of 50 richest Asian families in Forbes list. India has 17 of the 50 families which is the highest number.

Though the families fight among themselves and divide the property, they are still considered as a family for this list as the fortune belongs to the family.

As many as 17 Indian families, led by the Ambanis, figure in the maiden Forbes list of 50 richest Asian families, which is the highest for any country in this part of the world.

Ranked 3rd, the Ambanis’ net worth, which combines the wealth of both the brothers, Mukesh Ambani and Anil Ambani, has been estimated at $21.5 billion followed by Premjis, ranked 7th on the list with $17 billion.

Not far behind are the Hindujas, Mistry and the Godrej families, ranked 9th, 10th and 15th, with net worth of $15 billion, $14.9 billion and $11.4 billion respectively.

Among the 17 Indian families, some are no longer Indian citizens.

“While most on our list have kept their flock together over generations, the 50 also includes those who’ve gone separate ways in business or are entirely estranged,” the report said.

It added: “For example, 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 business separately.”

Mukesh’s twins, son Akash and daughter Isha, work at and occupy board seats at telecom arm Reliance Jio Infocomm and Reliance Retail. Anil’s son Jai Anmol works at Reliance Capital, it said.

The Burman family from India, who is featured on the cover of the magazine, has brought in professional managers to ensure the continuity of the business.

Anand Burman, the 63-year-old, fifth-generation scion and non-executive chairman of family-owned Dabur has seen net profits grow 24-fold, and market cap soar 40-fold since 1998, Forbes noted.

Dabur boasts a portfolio of 400 products-ranging from skin-care bleaches and ayurvedic shampoos to natural fruit juices-selling through nearly six million outlets across India. The family’s 68 percent holding is valued at $5 billion.The minimum combined net wealth to qualify for the list was $2.9 billion.