The Lee founding family of Korea’s Samsung empire has been dethroned by India’s Ambani family of Reliance Group in Forbes’ annual Asia’s richest families rank with their net worth adding $19 billion to $44.8 billion.

India’s Ambani family came first for the first time in 2017, stealing top rank from two-time first Lee family whose net worth reached $40.8 percent this year, up $11.2 billion from last year thanks to strong performance of its mainstay Samsung Electronics.

The third wealthiest is Hong Kong’s Kwok family that gets fortunes through real estate empire Sun Hung Kai & Co. and the fourth Thailand’s Chearavanont family, owner of livestock conglomerate Charoen Pokphand (CP) Group. The net worth of Kwok family and Chearavanont family is estimated at $40.4 billion and $36.6 billion, respectively.

Indonesia’s R. Budi & Michael Hartono family that owns Djarum, worth $32 billion, was ranked as the fifth richest in Asia with strong grip in Indonesian banking industry.

Other Korean names on the top 50 list were the Chung family of Hyundai group, worth $14.8 billion ranking 17th, the Koo family of LG group, worth $8.7 billion at 28th, and the Chey family of SK group, worth $6.3 billion, at 39th.

By Lee Jae-cheol and Cho Jeehyun

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]