Monday May 21, 2018
Home India Ambanis at th...

Ambanis at the top among 17 Indian groups in Forbes Asian richest family list

0
//
94
www.ericmetaxas.com
Republish
Reprint

Newsgram Staff Writer

Singapore: As many as 17 Indian families, led by the Ambanis, figure in the maiden Forbes list of 50 richest Asian families, which is the highest for any country in this part of the world.
Ranked 3rd, the Ambanis’ net worth, which combines the wealth of both the brothers, Mukesh and Anil, has been estimated at $21.5 billion followed by Premjis, ranked 7th on the list with $17 billion.

Not far behind are the Hindujas, Mistry and the Godrej families, ranked 9th, 10th and 15th, with net worth of $15 billion, $14.9 billion and $11.4 billion respectively.

Among the 17 Indian families, some are no longer Indian citizens.

“While most on our list have kept their flock together over generations, the 50 also includes those who’ve gone separate ways in business or are entirely estranged,” the report said.

It added: “For example, India’s Ambani family combines the wealth of brothers Mukesh and Anil, who inherited most of their father’s fortune on his death in 2002 but opted to do business separately.”

Mukesh’s twins, son Akash and daughter Isha, work at and occupy board seats at telecom arm Reliance Jio Infocomm and Reliance Retail. Anil’s son Jai Anmol works at Reliance Capital, it said.

The Burman family from India, that is featured on the cover of the magazine, has brought in professional managers to ensure the continuity of the business.

Anand Burman, the 63-year-old fifth-generation scion and non-executive chairman of family-owned Dabur, has seen net profits grow 24-fold, and market cap soar 40-fold since 1998, Forbes noted.

Dabur boasts of a portfolio of 400 products-ranging from skin-care bleaches and ayurvedic shampoos to natural fruit juices-selling through nearly six million outlets across India. The family’s 68 percent holding is valued at $5 billion.The minimum combined net wealth to qualify for the list was $2.9 billion.

To compile the list, Forbes team sifted through information on 500-plus families and valued dozens. “In the end a $2.9 billion net worth was needed to qualify. The valuations are based on stock prices and exchange rates on Sep 25,” the report added.

The Lee families, one from South Korea associated with Samsung, and the other that oversees Henderson topped the list, with a net worth of $26.6 billion and $24.1 billion respectively.

“Family is at the core of many of Asia’s biggest and most far-flung conglomerates and some of its best-known brands. Perhaps no clan better illustrates this than the Lees of Samsung Group, whose 2014 revenues were equivalent to 22 percent of South Korea’s GDP (gross domestic product),” the report said.

The report stated that nearly half of the richest families in Asia are of Chinese descent, yet none of the inaugural 50 is based in the mainland, where conglomerates are young, run by the first generation able to muster billions of dollars in wealth in an open economy.

Following are the Indian business families that figured out in the list:

1. Ambanis ranked 3rd ($21.5 billion)
2. Premjis ranked 7th ($17 billion)
3. Hindujas ranked 9th ($15 billion)
4. Mistry ranked 10th ($14.9 billion)
5. Godrej ranked 15th ($11.4 billion)
6. Mittal ranked 19th ($10.1 billion)
7. Birla ranked 22nd ($7.8 billion)
8. Bajaj ranked 29th ($5.6 billion)
9. Burman ranked 30th ($5.5 billion)
10. Lohia ranked 31st ($5.4 billion)
11. Patel ranked 33rd ($4.8 billion)
12. Lal ranked 40th ($4 billion)
13. Bangur ranked 42nd ($3.9 billion)
14. Jindal ranked 43rd ($3.8 billion)
15. Munjal ranked 46th ($3.2 billion)
16. Hiranandani ranked 47th ($3.1 billion)
17. Hamied ranked 50th ($2.9 billion)

 

Click here for reuse options!
Copyright 2015 NewsGram

Next Story

Reliance Jio Launches AI Based Platform – JioInteract

Jio launches AI-based JioInteract brand engagement platform

0
//
21
Jio’s sharp discount postpaid offer may hit ARPU of other players.
Jio’s Sharp Discount Postpaid Offer May Hit ARPU of Other Players. IANS

Reliance Jio Infocomm on Thursday announced the launch of JioInteract, a unique Artificial Intelligence (AI)-based brand engagement platform.

“The first of many services to be launched on this platform is the Live Video Call that features India’s favourite celebrities. To kick-start, Jio has on-boarded none other than Bollywood’s biggest star, Amitabh Bachchan, who will promote his upcoming comedy-drama film ‘102 Not Out’ in the most innovative way,” a company statement said here.

With Jio’s over 186 million subscriber base and another 150 million smartphone users, the sattement said: “JioInteract is poised to become the largest platform for movie-promotion and brand engagement. Over the next few weeks, Jio will introduce services such as video call centres, video catalogue, and virtual showrooms to the forefront redefining customer experience.”

Such use of artificial intelligence is a first across the world and will reposition the way brands and customers think of engagement, the company claimed.

Reliance Jio
Reliance Jio (Wikimedia Commons)

JioInteract’s first service “Live Video Call” will allow all Jio and other smartphone subscribers to make a video call with superstar, Amitabh Bachchan anytime during the day, starting on May 4, 2018.

Users can ask questions related to his upcoming comedy drama film, 102 Not Out and even book their movie tickets in real-time through the ticketing-partner BookMyShow.

Also Read: Jio And Airtel Are Bringing Apple Watch Series 3 to India

“This unique and innovative service uses a powerful artificial intelligence based platform to listen to user questions and respond to them in the most appropriate way. In addition, the platform has a unique auto-learning feature that helps improve the answering accuracy,” the statement said.

It also said: “Positioned as VCBaaS (Video Call Bot as a Service), JioInteract with its full scale multimedia capabilities attempts to democratise Artificial Intelligence & Video Call technologies in a simplified way for effective brand engagement. This technology has wide scale applications across B2C space. Using it, Jio is also tapping developer ecosystem to create innovative applications like virtual showrooms, product demonstrations, ordering cart for e-commerce, etc.”  (IANS)