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Jio's success takes Ambanis to top of Forbes Asia's richest families list

On the list of Asia's Richest Families 2017, India enjoys the biggest presence in the ranking for the third time with as many as 18 families

Press Trust of India  |  New Delhi 

Mukesh Ambani
Mukesh Ambani

India's family is the richest in as its net worth rose $19 billion to $44.8 billion, toppling the of the empire, to claim the numero uno position, said.

Despite dropping to the second spot, Korea's Lee family still saw its wealth soar by 11.2 billion to $40.8 billion this year as shares of Electronics moved up 75 per cent over the past year.

According to Asia's 50 Richest Families compiled by Forbes, Hong Kong's family, Asia's richest real estate household that controls Properties, ranked third this year with a net wealth of $40.4 billion. Thailand's family of the Charoen Pokphand Group took the fourth spot on the list, with a net worth of $ 36.6 billion.

The Ambanis are the only Indian family on the top 10 richest families list in

"No family highlights this surge better than the Ambanis of India, this year's biggest gainer in dollar and percentage terms," said.

It noted that shares in Mukesh Ambani's conglomerate Reliance Industries soared on the back of improved refining margins and the demand produced by its telecom arm, Reliance Jio, which notched up 140 million subscribers since it was launched in 2016.

On the list of Asia's Richest Families 2017, compiled by Forbes, India enjoys the biggest presence in the ranking for the third time with as many as 18 families.

Other richest Indian families on the list feature the (rank 11, $19.2 billion net worth), the (12th, $18.8 billion), the Mittals (14th, $17.2 billion), the Mistrys (16th, $16.1 billion) and the (19th, $14.1 billion).

Other Indian families that got into the exalted list include the family (20th, $14 billion), the (26th, $ 9.3 billion), the family (32nd, $ 7.7 billion), the Burmans (35th, $ 7.05 billion), Eicher Motors' Lals (36th, $7 billion) and Shree Cement's Bangur family (37th, $6.7 billion).

Sehgal family (41st, $6.2 billion), the Wadia family (42nd, $6.14 billion), DLF's Kushal Pal Singh (44th, $6.1 billion), the Patel family which controls (45th, $ 6 billion), the (47th, $ 5.38 billion) and the Munjals (48th, $ 5.37 billion) also made the cut.

Collectively, the 50 families in the club are worth a record $ 699 billion, up from nearly $200 billion from last year, according to

The list of Asia's 50 Richest Families is a snapshot of wealth using stock prices and currency exchange rates from the close of markets on November 3. Private were valued by using financial ratios and other comparisons with similar publicly traded firms.

The ticket to entry for this year's list was $5 billion, $1.6 billion more than in 2016.

First Published: Thu, November 16 2017. 12:18 IST