Thursday, October 8, 2015

Indian families in Asia’s richest list; Ambanis on 3rd:

Asia's richest list– Families from India
hold 14 spots in Forbes Asia's inaugural
ranking of the top 50 Asian business
dynasties with the Ambani family third
on the list with a combined fortune of $
21.5 billion.
India's Premji is seventh on the list
with a fortune of $17 billion followed
by Hinduja with $15 billion in ninth
spot and Mistry ranked tenth with $
14.9 billion. Thus India with 14
easily has the most spots from any
jurisdiction. The Ambani family
fortune includes the wealth of
brothers Mukesh and Anil, both of
whom inherited most of their father's
fortune on his death in 2002 but
opted to do business separately,
Forbes said.
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.
In the first-ever ranking of Asia's
richest families, 50 clans hailed from
ten Asian countries and were
required to have a minimum of 3
generations actively involved in
building their respective fortunes.
The barrier to entry was USD 2.9
billion and valuations are based on
stock prices and exchange rates as
on September 25.
Not in the List:
Forbes also lists some near misses of
clans who failed to make the inaugural
list. These included the Goenka family
from India with a net worth of $2.75
billion. Other Indian families not making
the list were Parle Products' Chauhan
with $2.7 Billion, DLF's Singh with $
2.65 Billion, Marico's Mariwala with $
2.55 Billion, Berger Paints India's Singh
with $2.5 Billion and Bharat Forge's
Kalyani with $2.1 Billion.