Bloomberg released its list of Asia’s top 20 wealthiest clans which now have a combined net worth of over $450 billion.
Leading the rankings is the Ambani family (net worth: $50.4 billion), which founded Reliance Industries in 1957 and is now the world’s largest oil refining complex. Hong Kong dominated the list, with six families present on the list from a city of just over seven million people.
The Hong Kong families that made the top 20 list include the Kwok family (real estate, net worth: $38 billion), the Kadoorie family (diversified, net worth: 18.5 billion), the Cheng family (real estate and jewellery, net worth: $18.2 billion), the Pao family (shipping and real estate, net worth: $16.7 billion), the Ho family (gaming, net worth: $14.9 billion), the Lee family (food, net worth: $14.7 billion).
In addition to assets, Bloomberg says its methodology also accounts for liabilities such as share-backed loans. Its definition of family wealth excludes first generation wealth, such as China’s Jack Ma, or wealth in the hands of a single heir.
