Asia’s surging wealth is creating more millionaires and billionaires than any other region of the world. Private bank Julius Baer forecasts that the wealth of the region’s 3.3 million high net worth individuals (HNWIs) will triple to nearly $15.81 trillion by 2015.
Strong economic growth, coupled with booming stock and property markets, have helped some of Asia’s largest businesses expand at a rapid pace. Given Asia’s culture of family businesses, many of the region’s biggest companies are family enterprises, with brothers, sons and daughters taking an active part. These families have shaped entire industries in places such as Thailand, Malaysia, Hong Kong, and Singapore.
We’ve compiled a list of Asia-Pacific’s 10 richest families with figures from Wealth-X, a research firm that provides information to private banks and consulting firms. Each family’s net worth was calculated based on public and private holdings, estimated cash salaries, dividends, and all other investible assets. All the families on our list have at least two members involved in the business.
So, which families are among the richest in Asia? Click ahead to find out.
By Rajeshni Naidu-Ghelani
Posted Oct. 26, 2011