The Richest Families in Southeast Asia
In our latest wealth list, we present the richest families in Southeast Asia. From the Bruneian royal family of Bolkiah to the SM Group's Sy family, these are the names shaping the region in which we live. Below are the nine richest families in Southeast Asia.
Reported Combined Wealth: $20 Billion
Not only is the Bolkiah family the richest in Brunei, the head of the family—Sultan Hassanal Bolkiah—is also considered one of the wealthiest royals in the world. In 2011, Forbes estimated the sultan to be worth $20 billion but other sources say the number is closer to $28 billion. Thanks to Brunei's vast oil and gas reserves, the family gets to enjoy many comforts including living in the world's largest palace, customized private jets, and over 600 Rolls-Royces.
Reported Combined Wealth: $37.9 Billion
Based in Bangkok, the Chearavanont family owns conglomerate CP Group which is the country's largest private company that has interests in agriculture, telecommunications, marketing, distribution and logistics, international trading, petrochemicals, property and land development, crop integration, insurance, automotive, and pet foods. Dhanin Chearavanont currently heads the family while his brothers—Jaran, Montri, and Sumet—and cousins also have a share of the $37.9 billion group.
Reported Combined Wealth: $32.5 Billion
The Hartono's fortune started from Chinese-Indonesian businessman Oei Wie Gwan who founded Djarum, a kretek (clove cigarette) manufacturer. Since his death in 1963, his sons Michael Bambang Hartono and Robert Budi Hartono have taken charge by expanding to tech, banking, beverages, and more.
Reported Combined Wealth: $3 Billion
In Cambodia, Kith Meng is considered the country's richest man. The Cambodian businessman is the chairman and CEO of The Royal Group which is engaged in telecommunications, media, banking, insurance, resorts, education, property, trading, and agriculture.
Reported Combined Wealth: $16.6 Billion
Robert Kuok built the Kuok Group from the ground up starting by trading agricultural commodities in Malaysia. From there, he managed to control 80 percent of the country's sugar market. He then built the first Shangri-La Hotel in Singapore eventually investing in several countries including Singapore, the Philippines, Thailand, Mainland China, Indonesia, Fiji, and Australia.
Reported Combined Wealth: $8.7 Billion
Singaporean real estate tycoon Ng Teng Fong established Far East Organization in the '60s. As the largest private property developer in the country, it has developed more than 750 properties including Orchard Road. After his death in 2010, Ng was succeeded by sons Robert and Philip.
Reported Combined Wealth: $8.2 Billion
Vingroup chairman Pham Nhat Vuong is Vietnam's richest man and first billionaire. Founded in 1993, the conglomerate has interests in real estate, retail, and healthcare.
Reported Combined Wealth: $20.1 Billion
The late Henry Sy not only built an empire from a small shoe store in the Philippines, but also a roster of heirs and successors to secure his legacy. Today, it's his children Tessie, Elizabeth, Henry, Hans, Herbert, and Harley who continue to grow the SM Group.
Reported Combined Wealth: $1.2 Billion
Tay Za has been called Myanmar's wealthiest man. The business tycoon is the chairman of Htoo Group of Companies, a holding company that has interests in construction, property development, agriculture, transportation, shipping, mining, hotels and tourism operations.
Don't forget to subscribe to the Esquire Philippines YouTube channel.
Esquire Philippines is now on Quento.