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Thread: Who the .01 Are

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    Thailand Expat tomcat's Avatar
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    Thailand Expat DrWilly's Avatar
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    locked behind a paywall.

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    Thailand Expat tomcat's Avatar
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    ...ah...

    1
    NAMEAmbani

    COMPANYReliance Industries

    LOCATIONIndia

    GENERATIONS3

    WEALTH$79.3bn




    Dhirubhai Ambani, the father of Mukesh and Anil, started building Reliance Industries’ precursor in the late 1950s. After Dhirubhai died in 2002 without leaving a will, his widow brokered a settlement between her sons over control of the family fortune. Mukesh is now at the helm of the Mumbai-based conglomerate, which owns the world’s largest oil-refining complex and has been expanding into tech, retail and green energy, with his children in charge of those different business units. He lives in a 27-story mansion that’s been called the world’s most-expensive private residence.
    DID YOU KNOWMukesh Ambani lived for months in shipping containers to build what is today the world’s largest petrochemical refinery.
    1957: Dhirubhai Ambani returns to India from Yemen, soon starting the precursor to Reliance Industries.
    2002: Elder son, Mukesh, takes over the chairmanship.
    2014: Mukesh’s twin children, Isha and Akash, join the boards of the retail and mobile-carrier units. Their younger brother, Anant, takes on leadership of the green energy business in 2022.


    2
    NAMEHartono

    COMPANYDjarum, Bank Central Asia

    LOCATIONIndonesia

    GENERATIONS3

    WEALTH$38.8bn



    Oei Wie Gwan purchased a cigarette brand in 1950 and renamed it Djarum. The business grew into one of the largest cigarette makers in Indonesia and, after Oei died in 1963, his sons diversified by investing in Bank Central Asia. That stake now makes up most of the family’s fortune.
    DID YOU KNOWDjarum-backed PT Global Digital Niaga, the owner of e-commerce group Blibli, had Indonesia’s second-largest IPO of 2022.
    1950: Oei Wie Gwan buys the cigarette brand that would become Djarum.
    1963: Oei dies, leaving the company to his two sons, Michael Bambang Hartono and Robert Budi Hartono.
    2016: Armand Wahyudi Hartono, Robert Budi’s son, becomes deputy president director of Bank Central Asia.


    3
    NAMEKwok

    COMPANYSun Hung Kai Properties

    LOCATIONHong Kong

    GENERATIONS3

    WEALTH$34.8bn



    Kwok Tak-seng listed Sun Hung Kai Properties in 1972. The company has since become one of Hong Kong’s largest real estate developers and the basis of the Kwok family fortune. His sons, Walter, Thomas and Raymond, assumed control when he died in 1990, though Walter lost his chairmanship in 2008 after a feud with his brothers. Raymond now chairs the business.
    DID YOU KNOWUBS will move its Hong Kong office to Sun Hung Kai’s new landmark project in West Kowloon when it’s completed by 2025.
    1972: Kwok Tak-seng, a grocery wholesaler, incorporates Sun Hung Kai.
    1990: Son Walter Kwok becomes chairman after his father’s death.
    2018: Walter’s son, Geoffrey, is appointed non-executive director of Sun Hung Kai.


    4
    NAMEMistry

    COMPANYShapoorji Pallonji Group

    LOCATIONIndia

    GENERATIONS5

    WEALTH$28.4bn



    The family business was founded in India in 1865, when Pallonji Mistry’s grandfather started a construction enterprise with an Englishman. Shapoorji Pallonji Group now spans various business areas, including engineering and construction. Most of the family fortune is illiquid, though: It’s held in Tata Sons, the main holding company behind Tata Group that controls Jaguar Land Rover. Following a family feud, Tata Sons changed its status to a private firm, restricting the Mistrys’ ability to sell its stake, and when Tata Sons offered to buy it out the two sides couldn’t agree on valuation. Pallonji died at age 93 in 2022, and his younger son, Cyrus, passed away months later in a car crash.
    DID YOU KNOWThe Mistrys own a 110-acre stud farm that breeds Indian Derby winning stallions.
    1865: The Mistry family starts its business.
    1921: Founder Pallonji passes away and son Shapoorji Pallonji takes over.
    1947: Shapoorji’s son, Pallonji Mistry, joins the construction business at age 18.
    2012: Shapoor Mistry, the grandson of Shapoorji, becomes chairman of the group.
    2019: Shapoor’s son, Pallon Mistry, joins the board of the group holding company.




    5
    NAMEChearavanont

    COMPANYCharoen Pokphand Group

    LOCATIONThailand

    GENERATIONS4

    WEALTH$28.2bn



    Chia Ek Chor fled his typhoon-ravaged village in southern China and started a new life in Thailand, selling vegetable seeds with his brother in 1921. A century later, Chia’s son, Dhanin Chearavanont, is senior chairman of Charoen Pokphand Group, a conglomerate with food, retail and telecom units.
    DID YOU KNOWCP Group is partnering with Toyota Motor to lower carbon emissions in Thailand.
    1921: Chia Ek Chor and his brother set up a seed shop in Bangkok.
    1970: Dhanin Chearavanont, the youngest of four brothers, becomes the group’s president after joining when he was about 25.
    2017: Two of Dhanin’s sons become CEO and chairman of the group.
    2020: Dhanin’s grandson, Korawad, founds Amity, a tech startup whose clients include some of CP Group’s units.


    6
    NAMEYoovidhya

    COMPANYTCP Group

    LOCATIONThailand

    GENERATIONS2

    WEALTH$27.4bn



    Chaleo Yoovidhya established T.C. Pharmaceutical in 1956 to sell medication. He later diversified into consumer goods and in 1975 invented an energy drink he called Krating Daeng, Thai for “red bull.” After Austrian marketer Dietrich Mateschitz discovered the beverage on a business trip to Asia, he teamed up with Chaleo to modify the recipe and market Red Bull globally. The fortunes of the Yoovidhya and Mateschitz families can be largely attributed to the success of the energy drink.
    DID YOU KNOWThe heir of the Austrian co-founder of Red Bull became Europe’s richest millennial after his father’s death in 2022.
    1956: Chaleo Yoovidhya founds T.C. Pharmaceutical.
    2012: Chaleo dies, paving the way for his son Saravoot to become TCP Group’s CEO.


    7
    NAMECheng

    COMPANYNew World Development, Chow Tai Fook

    LOCATIONHong Kong

    GENERATIONS4

    WEALTH$25.9bn



    The Cheng family fortune started with Chow Tai Fook Jewellery, a Hong Kong-based jeweler. Its stock symbol is 1929, the year it was founded. The Chengs also control New World Development, one of the city’s biggest real estate and infrastructure companies.
    DID YOU KNOWNew World Group piloted a 4.5-day work week last year to boost its staff’s mental health and productivity.
    1929: Chow Chi-yuen establishes Chow Tai Fook.
    1970: Son-in-law, Cheng Yu-tung, sets up New World Development.
    2011: Elder son, Henry Cheng, is appointed chairman and executive director of Chow Tai Fook.
    2020: Henry’s son, Adrian Cheng, becomes New World Development’s CEO.


    8
    NAMEPao/Woo

    COMPANYBW Group, Wheelock

    LOCATIONHong Kong

    GENERATIONS3

    WEALTH$22.6bn



    Pao Yue-kong started a shipping business when he bought his first vessel, the Golden Alpha, in 1955. By 1979, the company had more than 200 ships, making it the world’s largest independently owned bulk-shipping fleet at the time. Adapting to market conditions, Pao diversified into real estate, using proceeds from ship sales. When he died in 1991, his businesses were divided among his four daughters and their families. A sizable portion of the current family wealth is derived from Hong Kong property developer Wheelock, which was taken private in 2020.
    DID YOU KNOWDouglas Woo joined the Chinese People’s Political Consultative Conference, a top advisory body, for the first time in 2023.
    1955: Pao Yue-kong buys his first vessel.
    1986: Pao retires and son-in-law, Helmut Sohmen, becomes chairman of World-Wide Shipping.
    2014: Douglas Woo, Pao’s grandson, becomes chairman of Wheelock.




    9
    NAMETsai

    COMPANYCathay Financial, Fubon Financial

    LOCATIONTaiwan

    GENERATIONS3

    WEALTH$21.4bn



    The Tsai brothers founded Cathay Life Insurance in 1962. In 1979, the family decided to split up the business, with Tsai Wan-lin and Tsai Wan-tsai taking control of Cathay Life Insurance and Cathay Insurance, respectively. Cathay Insurance was later renamed Fubon Insurance. The family now owns stakes in two large financial-holding companies in Taiwan and has diversified into sectors including real estate and telecom.
    DID YOU KNOWFubon Financial and Cathay Financial took a financial hit in 2022 due to mounting Covid claims.
    1962: The Tsai brothers found Cathay Life Insurance.
    2001: Tsai Wan-lin’s son, Hong-tu, becomes board chairman of Cathay Financial.
    2005: Tsai Tzung-han, Hong-tu’s son, joins Cathay Life Insurance.


    10
    NAMELee

    COMPANYSamsung

    LOCATIONSouth Korea

    GENERATIONS3

    WEALTH$18.5bn



    Lee Byung-chull started Samsung in 1938 as a trading company exporting fruits, vegetables and fish. He got into the tech industry by setting up Samsung Electronics in 1969, which has become the world’s largest maker of memory chips and smartphones. When he passed away in 1987, his third son, Lee Kun-hee, took over the business. He died in October 2020 after years of hospitalization following a heart attack in 2014. Jay Y. Lee, who has cemented control over the conglomerate since, spent time in jail for bribery charges in a scandal that led to the impeachment of former President Park Geun-hye in 2017. He was released on parole in 2021 and pardoned the following year.

    Majestically enthroned amid the vulgar herd

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    11
    NAMELee

    COMPANYLee Kum Kee

    LOCATIONHong Kong

    GENERATIONS5

    WEALTH$17.9bn




    Lee Kum Sheung invented oyster sauce and founded Lee Kum Kee in 1888. When the original oyster sauce factory in Guangdong province burned down in 1902, the business was rebuilt in neighboring Macau, where it remained until it relocated to the more prosperous city of Hong Kong. Third-generation member Lee Man Tat consolidated his control of the company, buying out his uncles and brother. The family ventured into the health-supplements business in 1992 with LKK Health Products, a manufacturer and seller of herbal remedies. The clan also owns substantial real estate assets, including the Walkie Talkie tower in London. Lee Man Tat died in 2021 at the age of 91, and his son Sammy is now the group’s executive chairman.
    DID YOU KNOWZaha Hadid designed the new global headquarters of Lee Kum Kee’s health-products business in Guangzhou.
    1888: Lee Kum Sheung invents oyster sauce and establishes Lee Kum Kee.
    1920: Second-generation member Lee Shiu Nan takes over the business.
    1972: Lee Man Tat, the founder’s grandson who was known as the “Sauce King,” becomes chairman of Lee Kum Kee.
    1985: Lee Man Tat’s son, Charlie, joins the business.
    2014: The Lee Kum Kee Family Council, established in 2002, appoints three members of the fifth generation to the board.


    12
    NAMENg

    COMPANYFar East Organization

    LOCATIONSingapore

    GENERATIONS3

    WEALTH$16.5bn



    Ng Teng Fong moved to Singapore from China in 1934. He worked at his parents’ soy sauce factory and as a bicycle repairman. Instead of carrying on the family business, he ventured into property development and set up Far East Organization in 1960. He also made inroads into Hong Kong and founded Far East’s sister outfit, Sino Group. Now, his elder son Robert is in charge of the Hong Kong operations, while his younger son Philip oversees the business in Singapore.
    DID YOU KNOWFar East Organization plans to develop a 200-room hotel in Sydney’s Rocks district.
    1960: Ng Teng Fong establishes Far East Organization in Singapore.
    1991: Son Robert Ng becomes chairman of Sino Land.
    2017: Daryl Ng, Robert’s eldest son, is appointed as deputy chairman of Sino Land, Tsim Sha Tsui Properties and Sino Hotels.




    13
    NAMEKwek/Quek

    COMPANYHong Leong Group

    LOCATIONSingapore, Malaysia

    GENERATIONS3

    WEALTH$15.8bn



    Kwek Hong Png and his three brothers founded Hong Leong Co. in Singapore in 1941. His eldest son, Kwek Leng Beng, runs operations in the city-state that range from property development to hospitality and finance. Nephew Quek Leng Chan was sent to Malaysia to lead that part of the family business, which has become one of the country’s largest conglomerates.
    DID YOU KNOWCity Developments, one of the family’s property units, has bought the historic St Katharine Docks in London.
    1941: Kwek Hong Png sets up Hong Leong in Singapore.
    1995: Kwek Leng Beng takes over from his father as executive chairman of Hong Leong Group.
    2018: Sherman Kwek, Leng Beng’s son, becomes CDL’s group CEO.


    14
    NAMESy

    COMPANYSM Investments

    LOCATIONPhilippines

    GENERATIONS3

    WEALTH$15.7bn



    Henry Sy was born in China and immigrated to the Philippines when he was 12. He helped his father sell rice, sardines and soap before he opened his first shoe store in 1958. From a tiny shop in downtown Manila, the business has grown into a conglomerate with interests including retail, banking and property. Today, the group runs thousands of retail stores and banking branches.
    DID YOU KNOWSM Supermalls is rolling out the biggest chain of charging stations for electric vehicles in the Philippines.
    1958: Henry Sy opens a shoe store called Shoemart in Manila.
    1993: Harley Sy, the founder’s son, joins SM Investments’ board.
    2018: Third-generation Hans Sy Jr. takes over as president of SM Engineering Design and Development.


    15
    NAMEBirla

    COMPANYAditya Birla Group

    LOCATIONIndia

    GENERATIONS7

    WEALTH$15.5bn



    The Aditya Birla Group is one of India’s oldest family-owned businesses, with interests in industries including metals, financial services and retail. It started as a cotton-trading company in the 19th century before Ghanshyam Das Birla, who financed Mahatma Gandhi’s fight for independence from British rule, created what has become one of the nation’s biggest aluminum makers. His great-grandson, Kumar Mangalam Birla, is now the business’s chairman.
    DID YOU KNOWAditya Birla Group was among the bidders for Holcim’s Indian assets, which the Adani Group eventually bought.
    1857: Seth Shiv Narayan Birla begins trading cotton.
    1887: His son, Baldeo Das Birla, sets up a business in Calcutta.
    1918: Baldeo’s son, Ghanshyam Das Birla, establishes Birla Jute Mills, which eventually becomes Birla Group.
    1936: Basant Kumar Birla, Ghanshyam’s son who by 15 was already active in Birla companies, becomes chair of Kesoram Industries.
    1965: Basant’s son, Aditya Vikram Birla, joins the group to work in textiles.
    1995: Kumar Mangalam Birla, Aditya Vikram’s son, becomes chairman at the age of 28 after his father’s death.
    2023: Ananya and Aryaman Birla, Kumar Mangalam’s children, join the boards of family-run firms.


    16
    NAMEZhang

    COMPANYChina Hongqiao, Weiqiao Textile

    LOCATIONChina

    GENERATIONS2

    WEALTH$14.7bn



    Zhang Shiping started the predecessor of China Hongqiao in 1994. The veteran Communist Party member made full use of the market reforms ushered in by former leader Deng Xiaoping to turn his company into a major aluminum maker in China. After his passing, his son Zhang Bo became chairman of the aluminum business while his daughter Zhang Hongxia took charge of the textile enterprise, Weiqiao.
    DID YOU KNOWThe family’s private flagship holding company and SoftBank’s Chinese venture-capital fund are developing an industrial zone for new-energy vehicles in Shandong, China.
    1994: Shandong Hongqiao is founded as a sino-foreign joint venture, with Zhang Shiping holding a majority stake.
    2011: Son Zhang Bo becomes China Hongqiao’s CEO.




    17
    NAMEKadoorie

    COMPANYCLP Holdings

    LOCATIONHong Kong

    GENERATIONS4

    WEALTH$14.5bn



    In the 1880s, Elly Kadoorie and his older brother Ellis arrived in Hong Kong to work for the Sassoons, a prominent family of the Baghdad Jewish diaspora. The brothers later set up a brokerage and amassed stakes in banking, real estate and power-generation facilities. Major investments include CLP Holdings, the electricity supplier to Kowloon and the New Territories, as well as Hongkong & Shanghai Hotels, the group that owns the Peninsula Hotel chain. Michael, Elly’s grandson, now chairs both businesses.
    DID YOU KNOWThe Peak Tram, one of the family’s trophy assets under its hotel business in Hong Kong, relaunched its services in August 2022 after a yearlong upgrade.
    1880s: The Kadoorie family arrives in Hong Kong, later starting a brokerage business.
    1944: Elly Kadoorie dies, leaving the business to sons Lawrence and Horace.
    1997: Lawrence’s son, Michael, is appointed chairman of CLP’s board.
    2018: Philip Lawrence Kadoorie, Michael’s son, becomes non-executive director of CLP.


    18
    NAMEJindal

    COMPANYOP Jindal Group

    LOCATIONIndia

    GENERATIONS3

    WEALTH$14.4bn



    Om Prakash Jindal started a single-unit steel plant in 1952 and grew it into OP Jindal Group, a conglomerate that spans sectors from steel to energy, cement and sports. By the time he died in a helicopter crash in 2005, he had become power minister in the northern Indian state of Haryana. His widow, Savitri, took over as the group’s chairwoman, with four of their sons managing the businesses.
    DID YOU KNOWSavitri Jindal became Asia’s richest woman in 2022, taking over from Yang Huiyan of Chinese developer Country Garden.
    1952: Om Prakash Jindal starts a single-unit steel plant in Hisar, a city in India’s Haryana state.
    1982: Son Sajjan Jindal becomes the manager of a loss-making steel plant in Tarapur, near Mumbai.
    2001: Sminu Jindal, Om Prakash’s oldest granddaughter, takes over as managing director of Jindal Saw.


    19
    NAMEHinduja

    COMPANYHinduja Group

    LOCATIONIndia

    GENERATIONS4

    WEALTH$14.0bn



    Parmanand Hinduja, originally from Shikarpur, now in Pakistan, traveled to Mumbai to establish a business in trade and banking in 1914. Five years later, he opened an office in Tehran, where the group’s headquarters remained until 1979. Parmanand died in 1971, and his sons Gopichand and Srichand left for London eight years later while Prakash moved to Geneva and Ashok remained in Mumbai. The Hinduja Group currently has businesses in industries such as energy, automotive, finance and health care. The family owns real estate in India and in cities including London, and was involved for years in a dispute over a letter dividing their fortune.
    DID YOU KNOWThe Hinduja Group is developing the Old War Office, an imposing building near 10 Downing Street, into one of London’s most luxurious hotels.
    1914: Parmanand Hinduja starts the family business.
    1952: Srichand Hinduja joins his father in the enterprise.
    2010: Dheeraj Hinduja, Srichand’s nephew, becomes chairman of Ashok Leyland.
    2020: Srichand’s grandson, Karam Hinduja, takes charge of what is now SP Hinduja Banque Privee.


    20
    NAMEChirathivat

    COMPANYCentral Group

    LOCATIONThailand

    GENERATIONS4

    WEALTH$13.8bn



    The Chirathivats control Central Group, which is now one of Thailand’s largest private commercial conglomerates with more than 50 subsidiaries. The clan of Chinese descent was originally headed by Tiang Chirathivat, who migrated from Hainan to set up a small family shop in Bangkok in 1947. His sons ran the empire for about half a century before his grandson Tos took over.
    DID YOU KNOWCentral Group acquired UK department store chain Selfridges Group in a joint deal with Signa Holding.
    1947: Tiang Chirathivat sets up Central Group as a small family shop in Bangkok.
    1956: Son Samrit Chirathivat opens the group’s first department store, which at that time was the biggest in Thailand.
    2013: Grandson Tos Chirathivat becomes group CEO.
    2020: Great granddaughter, Pimpisa Chirathivat, is appointed corporate director of design and technical services at one of the group’s hotel businesses.











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