- Reuters and The Straits Times
Malaysia’s Quek/Kwek family of the Hong Leong Group is again the seventh richest family in Asia after gaining $4.8 billion (RM 20.1 billion, S$6.5 billion) in the past year, the latest Forbes data shows.
The family is now worth $23.3 billion, and is one spot below Hong Kong’s Lee Shau Kee family, who have a combined wealth of $29 billion.
Asia’s richest family this year is India’s Ambani family of Reliance Group fame with a net worth of $44.8 billion, which is an increase of $19 billion from last year.
While there is only one Malaysian family listed on Forbes’ top 50 Asia’s Richest Families list this year, there are five families from Singapore which made the cut.
Many of Malaysia and Singapore’s richest families have members and business interests spread across the two countries.
The combined wealth of richest families in Malaysia and Singapore is now $67.75 billion.
Kuok Group’s Kuok family is Singapore’s richest, with a $16.6 billion wealth placing them at 15th spot on the top 50 list.
- The Straits Times
Far East Organisation’s Ng Family came in at 25th with their $9.7 billion wealth, while Maybank’s Khoo family ranked 38th with a net worth of $6.4 billion.
Following close behind as Singapore’s fourth richest family is UOB’s Wee family, with a combined wealth of $6.25 billion at 40th place.
- The Straits Times
And the fifth richest family in Singapore is the Kwee family at 46th place with a combined net worth of $5.5 billion.
Collectively, the top 50 families are worth a record $699 billion, an increase of 35 per cent from last year.
Although Samsung’s Lee family saw a whopping $11.2 billion increase in their wealth to $40.8 billion, they fell to second place after topping the list for two years.
When it comes to real estate, Hong Kong’s Kwok family is Asia’s richest and third on the overall list with a $40.4 billion wealth.
The top 10 richest families in Asia are: