As many as 14 Indian families, led by the Ambanis, figure in the maiden Forbes list of the 50 richest Asian families, the highest for any country in this part of the world.
Ranked third, the Ambanis’ net worth, which combines the wealth of brothers Mukesh and Anil, has been estimated at $21.5 billion, followed by the Premjis, ranked seventh on the list, with $17 billion.
Not far behind are the Hindujas, Mistry and the Godrej families, ranked 9th, 10th and 15th, and a 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.
— Forbes report
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 Reliance Industries Limited’s telecom arm, Reliance Jio Infocomm, and at Reliance Retail. Anil’s son Jai Anmol works at Reliance Capital, the report said.
The Burman family from India, who rank 30th and feature 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. The family’s 68 percent holding in Dabur valued at $5 billion.
The minimum combined net wealth to qualify for the list was $2.9 billion.
(With inputs from PTI)
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