Forbes’ latest list of Asia’s wealthiest individuals reveals some familiar faces and intriguing stories. At the helm sits Indian tycoon Mukesh Ambani, boasting a staggering net worth of US$110.4 billion.
Ambani, the 66-year-old chairman and managing director of Reliance Industries, has built his fortune through a diversified empire. Reliance’s telecom and broadband services, particularly Jio, have been instrumental in the company’s growth. His ambition extends beyond traditional industries, as evidenced by the formation of Jio BlackRock, a joint venture with BlackRock to offer innovative investment solutions to Indian investors. Cricket fans will also recognize Ambani as the owner of the Mumbai Indians, a team he acquired in 2008.
India continues its strong showing with Gautam Adani, the 61-year-old head of the Adani Group. This US$81 billion conglomerate encompasses ports, airports, energy, and even green initiatives. Adani is India’s leading airport operator and controls the crucial Mundra Port in Gujarat. His recent acquisition of Holcim’s Indian assets cemented his position as the country’s second-largest cement producer.
China’s beverage king, Zhong Shanshan, takes the third spot with a net worth of US$67.3 billion. This self-made billionaire’s journey began in construction before venturing into journalism, beverage sales, and ultimately, founding Nongfu Spring, the country’s most successful bottled water company. Shanshan also holds a significant role at Beijing Wantai Biological Pharmacy, the producer of rapid Covid-19 diagnostic tests.
Hong Kong’s legendary Li Ka-Shing rounds out the list at number eight with a net worth of US$37.9 billion. This 95-year-old self-made titan started his empire in 1950 with a mere US$6,500 and built Cheung Kong Plastics into a powerhouse. Beyond his business acumen, Li Ka-Shing is revered for his philanthropy, having donated over US$3.8 billion through his Li Ka Shing Foundation.
A breakdown of the top billionaires in Asia for 2024, based on their net worth as reported by Forbes:
1. Mukesh Ambani (India) — US$110.4 billion
2. Gautam Adani (India) – US$77.3 billion
3. Zhong Shanshan (China) — US$67.3 billion
4. Prajogo Pangestu (Indonesia) – US$62.2 billion
5. Colin Zheng Huang (China) – US$48 billion
6. Zhang Yiming (China) – US$43.4 billion
7. Ma Huateng (China) – US$40.7 billion
8. Li Ka-Shing (Hong Kong) – US$37.9 billion
9. Tadashi Yanai and family (Japan) – US$37.9 billion
10. Savitri Jindal and family (India) – US$35.1 billions
Image—The Economic Times
