(Ecns) -- The business magazine Forbes on Thursday published its List of Top 50 Richest Families in Asia for the first time, with no Chinese mainlander making the cut.
Hong Kong has eight big families on the list, including "Hong Kong Legend" Lee Shau Kee, the Kwok brothers and Cheng Yu-tung family.
With a combined wealth of $26.6 billion, Lee Byung-chull's family of Samsung Group ranked first. Three-generations of the Lee family own more than 50 companies, with the entire annual revenue of the group during 2014 equaling 22 percent of GNP in Korea.
Lee Shau Kee's family of Henderson ranked second with total assets of $ 24.1 billion. The Ambanis' family of Reliance Group ranked third on the list with a net worth of $21.5 billion. Thailand's Dhanin Chearavanont family, who controls one of the largest suppliers of animal feed, Charoen Pokphand, ranked fourth with total assets of $19.9 billion.
Taiwan Cathay Financial Holding Tsai Wan-tsai's family and Tsai Eng-Meng's family of Want Want Group ranked eighth and 24th respectively.
Chinese mainland tycoons are mostly young entrepreneurs.
The 50 shortlisted clans were required to have a minimum of 3 generations actively involved in building their respective fortunes. The barrier to entry was $2.9 billion and valuations are based on stock prices and exchange rates as on September 25.
Li Ka-shing's family failed to meet the criteria, according to Hong Kong-based Ming Pao.
