Moneycontrol

Budget 2021

Associate Partners:

  • SMC
  • Samsung
  • Volvo

Moneycontrol

Budget 2021

Associate Partners:

  • SMCSamsungVolvo
Webinar :Join an expert panel for a webinar on Smart investments for a secure retirement January 28, 2021. Register now!
you are here: HomeNewsBusiness

Ambanis are two times wealthier than the second richest family in Asia: Report

As per the Bloomberg Billionaires Index ranking of 20 richest dynasties in Asia, the Ambani family is two times wealthier than Asia’s second-richest family - the Kwoks of Hong Kong (with a net wealth of $33 billion) and three times richer than South Korea’s Lee family.

December 01, 2020 / 06:14 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

A ranking of Asia’s richest families published by Bloomberg in November 2020 has revealed that Mukesh Ambani’s family is now twice as wealthy as the second richest family of Asia.

As per the Bloomberg Billionaires Index ranking of 20 richest dynasties in Asia, the Ambani family is two times wealthier than Asia’s second-richest family - the Kwoks of Hong Kong (with a net wealth of $33 billion) and three times richer than South Korea’s Lee family. In fact, the Ambanis’ fortune equal five times the net worth of Japan’s Torii and Saji family.

Even though the Bloomberg ranking excludes first-generation wealth, the wealth of $76 billion amassed by three generations of the Ambani family is an astounding figure. Their wealth has increased by over $25 billion since Bloomberg’s July 2019 ranking. As against this, the other families that made it to the list of top 20 richest Asian families have added only around $10 billion.



Forbes India Rich List 2020: Mukesh Ambani remains wealthiest Indian for 13th consecutive year



Mukesh Ambani, the owner of Reliance Industries Ltd (RIL), has been expanding his business rapidly in India and even the coronavirus pandemic – which has brought most parts of the world to its knees – could not slow him down.


India’s richest man Mukesh Ambani, has in fact, been adding Rs 90 crore per hour to his wealth since the coronavirus lockdown was imposed in India in March.


The rapid expansion of his empire and wealth during this period has helped the Ambanis get so much wealthier than Asia’s second-richest family.


Earlier in 2020, Mukesh Ambani had roped in investors to raise capital for Reliance Jio Platforms. He even raised funds for Reliance’s retail arm - Reliance Retail Ventures Ltd (RRVL). During this time, technology firms and private equity funds invested in his ventures, which helped the Ambanis expand their empire further.


Notably, two other Indian families have also featured on the Bloomberg list at the eighth and 16th positions – the Mistry family that runs the Shapoorji Pallonji Group (net wealth of $22 billion) and the Hinduja family (net worth of $15.1 billion), respectively.


Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd. which published moneycontrol.com
Moneycontrol News

stay updated

Get Daily News on your Browser
Sections