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With Asia 's culture of family businesses, it is no wonder that many of the region's
largest companies are family firms, with members of the family taking part. A
recent report on CNBC.com compiled a list of Asia's wealthiest families, with data
from Wealth-X, a research firm that provides information to private banks and
consulting firms.Net worth was calculated based on public and private holdings,
estimated cash salaries, dividends, and all other investible assets. For each of the
families in the list, at least two members play an active part in the business.
9. Ng Family
Country: Singapore
Business: Far East Organization, Sino Group
Estimated net worth: $8.9 billion
The Ng family owns Singapore 's largest private property development firm
Far East Organization and Hong Kong-based sister company Sino Group.
Together, the firms are one of Asia 's largest real estate groups with annual
revenue of $4.3 billion.
The companies were founded by Ng Teng Fong, who died from a brain
hemorrhage in 2010 at the age of 82. Ng was well known for his frugal
lifestyle, living in the same home for 30 years even as his wealth grew. After
his death, Ng's older son Robert (pictured), 59, took over the reins at Sino
Group, while younger son Philip heads the Far East Organization. The firm's
presence in Singapore is renowned, with ownership of historical landmarks
like the Fullerton Hotel along with 700 other properties. A big chunk of the
family's fortune also comes from its five publicly-listed subsidiaries.
In July, reports surfaced that the Far East Organization planned to raise at
least $410 million by listing some of its hotel and serviced residence assets in
a real estate investment trust (REIT) next year. Singapore 's REIT market is
the third-largest in the world after Japan and Australia .
8. Hartono Family
Country: Indonesia
Business: Djarum Group
Estimated net worth: $11 billion
The Hartono family is the richest family in Indonesia and owners of one of the
world's biggest clove-flavored cigarette makers Djarum Group. The group
also has a majority stake in one of the country's biggest banks Bank
Central Asia, from which the family gets the bulk of their fortune.
Brothers Robert Budi Hartono and Michael Bambang Hartono inherited their
wealth from their Chinese father Oei Wie Gwan, who founded Djarum in
1951. After his death in 1963, the brothers took over the business, invested in
research and development, and began exporting cigarettes almost 10 years
later. The company's tobacco products accounted for 97 percent of the U.S.
clove cigarette market in 2009, before the Obama administration banned the
sale of flavored cigarettes other than menthol, because critics claimed they
appealed to teenagers.
and competes with Hewlett Packard for the title of the world's largest
technology firm by revenue. Other family members in the business include
Kun Hee's only son and heir apparent, Jay Y. Lee, who is president of
Samsung Electronics, and daughter Lee Boo Jin, who is the senior vice
president of the group's luxury hotel chain Shilla Hotels and Resorts.
But as head of the group, Lee Kun Hee has also faced a string of controversies
in recent years. The 69-year-old was convicted of tax evasion and breach of
trust in 2008 and given a three-year prison sentence, but was later pardoned
by the country's President in 2009. During that period he stepped away from
the company for two years and returned in 2010.
6. Kuok Family
Country: Malaysia , Singapore
Business: Kuok Group
Estimated net worth: $16.1 billion
The Kuok family is the richest family in Southeast Asia, and owners of the
Kuok Group one of Asia's most diversified firms with interests in
agriculture, real estate, and financial services, to name a few.
The Malaysian group was founded in 1949 by the three Kuok brothers, the
4. Kwok Family
Country: Hong Kong
Business: Sun Hung Kai Properties
Estimated net worth: $22 billion
The Kwok family are the founders of Sun Hung Kai (SHK) Properties
Asia 's largest property developer by market value.
The company was founded in 1963 by mainland Chinese businessman Tak
Seng Kwok, and partners Fung King Hey and Lee Shau Kee. It was listed on
the Hong Kong Stock Exchange in 1972 and soon became one of the top firms
on the benchmark by market cap. The firm's market cap now stands at $34.25
billion. Tak Seng died in 1990, leaving the reins of the family business to his
wife, Kwong Siu-hing, and their three sons, Raymond (pictured left), Thomas
(pictured), and Walter Kwok. The company has continued to do well because
of Hong Kong's and China 's red-hot property markets. Last month, the group
posted a 55 percent rise in underlying profit to $2.75 billion for the year ended
June. The group completed construction of Hong Kong's tallest building in
2010 the International Commerce Center marking another milestone
for the company.
The family has also made headlines with a bitter feud and court battle, which
led the eldest son Walter, 66, to step down as chairman of the firm he worked
at for 33 years in 2008. His mother Kwong Siu Hing, who is the controlling
shareholder of the group, took over the leading role, with younger brothers
Thomas and Raymond managing operations.
1. Ambani Family
Country: India
Business: Reliance Industries & Reliance Group
Estimated net worth: $37.6 billion
The Ambanis are the richest family in the Asia-Pacific region, and founders
of Reliance Industries India 's largest publicly traded company by market