Ambanis are the richest in Asia- Forbes

The 2017 Forbes list of Asia’s richest families has come out, and for the first time the Ambanis with a net worth of US $44.8 BN have topped the list. The list declares the richest 50 families of the Asian continent and orders them on the basis of their net worth and wealth.

The combined wealth of all the 50 families on the list is $699 billion. This has increased since last year by 35%. The latest issue of the Forbes with this full list will be available from November 16, officially.

The Ambani family from India is the biggest gainer in the list this year, in terms of dollars and percentage of wealth. Their net worth has seen a rise by $19 BN. The stock prices/ share prices of their Corporation- Reliance Industries increased last year, reaching high levels because of their refining margins and because of their new product launch- Reliance Jio sims. The Reliance Jio project has led to a stretch in their telecom arms.

The Reliance Jio telecom services were launched in 2016 which is run by Mukesh Ambani’s younger brother Anil Ambani, under the aegis of Reliance Communications. The Ambani Family has also superseded the Samsung Empire family- the Lees, and claimed their first spot.

The Lee family, of the famous Samsung empire dropped to the second position. However, they still saw a growth in their wealth rising to $40.8 BN this year from $11.2BN. 45 percent of the fortune of Samsung Electronics is driven by the Chairman Lee Kun Hee, who is still in a coma since 2014. While, his son, Jay Y Lee is still appealing a five year prison sentence. In the past year alone, the shares of the Samsung empire have soared by 75 per cent.

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