These Are the 5 Richest Families in Asia Right Now

Suddenly things don’t look quite so bright for the billionaires of India’s new Gilded Age.

Even before a short-seller broadside against Gautam Adani knocked $153 billion off the value of his companies, the recent phenomenal wealth growth of the nation’s super-elite was starting to sputter.

Four years ago, when Bloomberg first compiled an Asia-specific ranking of the 20 richest families, three Indian clans appeared, worth a combined $87.6 billion. By 2022, there were five, controlling $168.7 billion and tying in number with Hong Kong’s storied dynasties.

This year, that breakneck growth has reversed. The five families to make the list — led by the Ambanis and Mistrys — have lost a combined $17.1 billion, according to the Bloomberg Billionaires Index.

That hit is the main reason why the overall net worth of Asia’s wealthiest fell by $17.7 billion to $478.1 billion, the first drop since the annual ranking started in 2019.

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Source: Bloomberg Quicktake