India’s richest man Mukesh Ambani’s family has become more prosperous. The Ambani family is the richest family in Asia. The Mukesh Ambani family has twice the wealth of Hong Kong’s Kwoks and three times more than the Lee family of South Korea. This is revealed by the Bloomberg Billionaire Index ranking of the 20 richest families in Asia. In Bloomberg’s ranking for the year 2020, the first generation of the property has been excluded and heritage is the focus of most families.
At present, the 20 richest families in Asia together have assets worth $ 463 billion. Apart from Mukesh Ambani family from India, there are 2 other Indian families in this ranking. Let’s know about this in detail…
Mukesh Ambani Family
Reliance Industries was started by Dhirubhai Ambani in 1957. After his death in 2002, the family business was split into Dhirubhai’s two sons Mukesh and Anil Ambani. Oil refining and petrochemicals business went to Mukesh Ambani, while new ventures in finance, infrastructure, power and telecom came under Anil Ambani’s share.
Mukesh Ambani further increased the business in his part and made it sky high. He also stepped into the telecom business with the help of Jio and also took it to the lofty heights. At present, the wealth of the Mukesh Ambani family is 76 billion dollars and this family is the richest family in Asia.
According to Bloomberg, the wealth of the Mukesh Ambani family has now more than doubled the wealth of Kwoks of Hong Kong, Asia’s second richest family. At the same time, the Ambani family is three times more than the Lee family of South Korea and about 5 times richer than the Torii and Saji clan of Japan.
During the time of the epidemic, the cases of COVID 19 were growing rapidly, on the other hand, Mukesh Ambani was executing one deal after another with the world’s tech companies. In these deals, Ambani acquired investment by selling stake in the digital unit of Reliance Industries, then raised the funds by selling stake in retail business.
The Kaskarti Mistry family of Shapoorji Pallonji Group is currently the 8th richest family in Asia and owns $ 22 billion in assets. Palonji Mistry’s grandfather started a construction company in 1865 with a British and laid the foundation of the family business. Today, Shapoorji Pallonji Group is into various businesses including engineering, construction. It also has a stake in Tata Sons. This group has built the building of Reserve Bank of India in Mumbai.
The family currently has assets of $ 15.1 billion and is the 16th richest in Asia. Parmanand Hinduja of Shikarpur, Pakistan, came to Mumbai in 1914 so that he could build his business in trade and banking. After 5 years, he opened an office in Tehran. The group’s headquarters remained there until 1979. Parmanand died in 1971. After 8 years, his two sons Gopichand and Srichand moved to London, while Prakash went to Geneva from two other sons while Ashok stayed in Mumbai. The Hinduja group is currently in businesses such as energy, automotive, finance and healthcare. Apart from this family, India also has real estate in other foreign cities like London.
(Note: The ranking of Asia’s Richest Family is compiled on November 13. It does not include First Generation Wealth, such as Jack Ma of Alibaba Group Holding Ltd. So there is no Chinese family in the list, where Tech Focused and relatively young billionaire.)