According to the Bloomberg Billionaires Index, the wealth of the 20 richest families in Asia has increased by $33 billion within the last two years. Bloomberg recently published a report highlighting how the region’s wealthiest families are specializing in e-commerce, technology and cryptocurrencies.
Their combined wealth now exceeds $495 billion, which is greater than the gross domestic product of Hong Kong or Singapore.
Robert Budi Hartono – Indonesia
Indonesia’s Robert Budi Hartono is the third generation of the Djarum family to steer the corporate, which now has a market capitalization of $34.3 billion. It is the second richest family in Asia, after India’s Ambani family, which owns Reliance ($90.3 billion).
Budi and Michael Hartono make most of their money from investments in Bank Central Asia. After one other wealthy family lost control of BCA through the 1997–1998 Asian economic crisis, the Hartonos family bought a stake within the bank.
The family fortune is predicated on the kretek Djarum cigarette company, founded by their father and now owned by Budi’s son, Victor.
Polytron, a famous electronics company, and useful real estate in Jakarta are a part of the family estate.
Yoovidhya Family – Thailand
Thanks to its TCP group, Thailand’s Yoovidhya family is the tenth richest family in Asia, with a net price of $19.6 billion.
Chalerm Yoovidhya is the patriarch of the big family that owns Red Bull, the enduring energy drink that sold 7.9 billion cans in 171 countries in 2020. In December 2020, Red Bull Thailand triumphed in a multi-year trademark battle with Red Bull China.
The family’s income may be traced back to Chaleo, the late energy drink tycoon who founded Red Bull in 1987 with Austrian Dietrich Mateschitz, a former marketing specialist. His interests included hospitals, real estate and sports teams until his death in 2012.
Chalerm, the group’s eldest son, currently heads the corporate whose flagship Red Bull sold 6 billion cans worldwide in 2016. The clan owns 51% of the corporate, and Chalerm personally has 2% of the shares. The managing director of Red Bull Thai is Brother Saravoot.
Variant, Chalerm’s son, works within the family winery and Ferrari showroom. Vorayuth, one other son, is needed by Interpol for his alleged involvement in a tragic 2012 hit-and-run case.
Sy Family – Philippines
Thanks to SM Investments, Henry Sy of the Philippines is the twelfth richest family on the earth, with a fortune price $17.8 billion. Henry Sy Jr. is vice chairman of SM Investments, a world conglomerate founded by his father, Henry Sy Sr.
Henry Sy, a tycoon dubbed the “father of contemporary Philippine retail” for his supermarket complex that revolutionized the country’s retail scene, died on Saturday in Manila. He was 94 years old then. His death was announced by SM Investments Corporation.
According to Forbes, Sy has been the richest man within the Philippines for 11 years. His fortune is estimated at $19 billion. After a period of selling leftover shoes, Mr. Sy founded the primary ShoeMart in 1958. Later it was simply called SM.
In 1972, the primary SM department store opened in the middle of the Quiapo district. Almost the identical 12 months, dictator Ferdinand Marcos imposed martial law, ushering in 20 years of ruthless tyranny within the Philippines.
At the time of his death, Mr. Sy was the retired chairman of SM Investments.
In 2006, it opened its flagship shopping center, SM Mall of Asia, with over 800 stores and an Olympic-sized ice rink. Every day, hundreds of individuals visit the shopping mall, which has grow to be a big tourist center.
SM Investments owns SM Retail Inc., which operates the country’s leading supermarket and department store chains, in addition to SM Prime Holdings Inc., an enormous shopping center operator. Also included was Banco de Oro, today generally known as BDO Unibank.
In 2017, he founded Big Boss Cement, an organization that benefited from President Rodrigo Duterte’s enormous development zeal.
Source: Bloomberg, Business Standard, Forbes, Nytimes.com
