Asia’s 5 richest billionaires boast $371B combined net worth

1. Mukesh Ambani, chairman of conglomerate Reliance Industries

Mukesh Ambani at an event in Mumbai, India, in July 2018. Photo by Reuters

Mukesh Ambani, 67, amassed his wealth through Reliance Industries, a conglomerate with investments in petrochemicals, telecommunications, retail, and financial services.

The company was founded as a small textile manufacturer in 1966 by his late father, Dhirubhai Ambani.

Mukesh, along with his brother Anil Ambani, inherited the firm in 2002 when their father passed away.

Mukesh currently helms Reliance as its chairman and managing director.

With a net worth of US$112 billion as of May 14, Mukesh Ambani is the most affluent individual in Asia, as well as India, as reported by Forbes.

He is also the world’s wealthiest billionaire heir this year.

2. Gautam Adani, founder of industrial conglomerate Adani Group

Gautam Adani. Photo by Reuters

Gautam Adani, 61, is the founder and chairman of Adani Group, one of the industrial conglomerates in India, according to the company’s website.

Established in 1988 as a commodities trading firm, the Adani Group has since diversified into multiple sectors, including ports and logistics, power generation and transmission, and green energy, Forbes reported.

As of August 2022, the conglomerate consists of 7 publicly listed entities with a combined market capitalization in excess of $242.73 billion.

Adani holds the position of India's largest airport operator and oversees Mundra Port, the country's largest port.

His net worth was at $80.5 billion as of May 14.

3. Zhong Shanshan, founder of bottled water producer Nongfu Spring

Zhong Shanshan, founder and chairman of bottled water producer Nongfu Spring. Photo by Reuters

Zhong Shanshan, 69, is the founder and chairman of beverage manufacturer Nongfu Spring, China's leading packaged water supplier, according to Bloomberg.

The company, established in 1996, went public on the Hong Kong Stock Exchange in 2020.

The beverage giant reported revenues of 42.7 billion yuan ($5.9 billion) last year, its financial reports show.

Zhong also holds a 74% stake in Wantai Biological, a vaccine manufacturer.

Zhong’s net worth stands at $67.2 billion as of May 14, making him the richest Chinese billionaire, according to Forbes.

He has held that title for four years in a row.

4. Prajogo Pangestu, founder of energy company Barito Pacific

Prajogo Pangestu, founder and president commissioner of Barito Pacific Group. Photo courtesy of the company

Prajogo Pangestu, 80, started building his fortune in the late 1970s with his timber business, Barito Pacific Timber.

It was later listed and rebranded into Barito Pacific as Pangetsu expanded into various industries.

Today, his company is a leading force in Indonesia's petrochemical, plastic production, mining, and thermal energy sectors.

He currently serves as Barito Pacific’s president commissioner.

Forbes estimates his net worth to be the highest among Indonesian billionaires at $62 billion as of May 14.

5. Colin Zheng Huang, founder of commerce group PDD Holdings

Colin Huang, founder of commerce group PDD Holdings. Photo courtesy of Cheung Kong Graduate School of Business

Colin Zheng Huang, 44, rose to prominence in China with the success of Pinduoduo, an e-commerce platform that he founded in 2015, according to Business Insider.

It was listed on the New York Stock Exchange in July 2018 before changing its name to PDD Holdings in 2023.

Although Huang resigned as chairman a few years back, he still holds around 28% of the company's shares.

He has amassed a net worth of $49.5 billion by May 14, according to Forbes.

Shanghai-based Hurun Research Institute’s Global Rich List 2024 report ranked Huang as the top billionaire in China’s tech industry.