Reliance Industries Chairman, Mukesh Ambani, has once again secured the top spot on Bloomberg’s list of Asia’s 20 Richest Families. The list, released on February 12, 2025, highlights the wealthiest family-run businesses in the region.
Ambani’s Success Story
Mukesh Ambani took charge of Reliance Industries in 2002 after his father, Dhirubhai Ambani, passed away. Since then, he has expanded the company into a global giant with businesses in oil refining, technology, retail, financial services, and green energy. His family also plays a key role, with his children managing different divisions of the company.
Other Indian Families on the List
The Ambanis are not the only Indian family among Asia’s richest. Other notable Indian names include:
Mistrys (Shapoorji Pallonji Group): Established in 1865, this family holds a significant stake in Tata Sons, which controls the $400 billion Tata Group. Noel Tata is currently at the helm of Tata Trusts.
Jindals (OP Jindal Group): The Jindal empire started with a steel plant in 1952 and has since expanded into energy, cement, and sports. OP Jindal’s legacy continues under his wife, Savitri Jindal, and their four sons.
Birlas (Aditya Birla Group): This family has been in business since the 19th century and operates in metals, finance, and retail. Kumar Mangalam Birla leads the group today, carrying forward the legacy of his great-grandfather, who also supported India’s independence movement.
Bajajs (Bajaj Group): Founded in 1926 by Jamnalal Bajaj, this group initially focused on scooters but has since expanded into cement, electrical appliances, and more. Rahul Bajaj currently oversees its growth.
Hindujas (Hinduja Group): With roots dating back to 1914 in trade and banking, this global business empire operates in energy, finance, healthcare, and automobiles. The family’s businesses span Mumbai, London, and Geneva but have been affected by internal disputes.
Why Gautam Adani Didn’t Make the List
Surprisingly, billionaire Gautam Adani was not included. The reason? Bloomberg’s ranking focuses on family-run businesses passed down through generations. Since Adani is a first-generation entrepreneur, he was not considered. The same applies to Jack Ma of Alibaba.
Trade Worries for Asia’s Wealthiest Families
This year’s ranking comes at a time of global economic uncertainty. U.S. President Donald Trump’s trade policies and tariff threats are causing concern, especially for businesses that rely on international markets.
Some Indian business leaders, like Kumar Mangalam Birla, see Trump’s presidency as an opportunity. Others, like Adani, have praised Trump’s determination despite challenges. Meanwhile, Asian business families are watching closely to see how these policies will affect their wealth.
For example, the Zhang family, which controls aluminum giant China Hongqiao, could suffer if the U.S.-China trade war worsens. On the other hand, Thailand’s Chearavanont family, owners of CP Group, may benefit if foreign investors move away from China.
Experts say Asia’s business elite may need a “Trump whisperer” to navigate these unpredictable policies. Some believe a visit to Trump’s Mar-a-Lago resort might help them stay ahead in these changing times.
Asia’s 20 Richest Families (2025 List)
