Forbes: Sy, Zobel, Aboitiz among Asia's richest families

MANILA, Philippines - Three Filipino families - Sy, Zobel and Aboitiz - were included in the Forbes's inaugural list of Asia's richest families.

The first list of Asia's richest families included 50 clans from 10 Asian countries. The clans must have a minimum of three generations actively involved in building their fortunes, according to Forbes.

The Sy family ranked 13th in the list with a net worth of $12.3 billion, being the richest clan in the Philippines.

The family's source main of wealth is SM Investments Corp. They also have a stake in the National Grid Corp. which supplies power in the entire country.

"(Henry) Sy's children are all involved in management and meet weekly over lunch to discuss the business; their mother sometimes joins. Grandchildren are taking active roles," Forbes said.

Meanwhile, the Zobel family ranked 35th with a net worth of $4.2 billion.

The Zobel's source of wealth is the Ayala Corp., which was founded in 1834, which is now being run by the clan's seventh generation.

"It started off as a small distillery in Manila 181 years ago, and is now one of country's largest conglomerates and a holding company for publicly traded Ayala Land, Bank of the Philippine Islands, Globe Telecom and Manila Water," Forbes said.

The Zobel family's Ayala Foundation also funds the Ayala Museum in Makati City.

The Aboitiz family, the third clan included in the list, ranked 44th with a net worth of $3.6 billion.

Cebu-based Aboitiz Equity Ventures has interests in power, transportation, banking, food and property.

It was founded by Paulino Aboitiz, the son of a Spanish farmer, in the late 1800s when he migrated to the Philippines, according to Forbes.

"The family, known to hold reunions for 400-plus relatives, has a constitution and formal process for those descendants interested in joining the company and/or working their way up to management," Forbes said.

Nineteen family members from the fourth and fifth generation are involved in the conglomerate's day-to-day operations.

The Lee family of Samsung from South Korea topped the list with a net worth of $26.6 billion.

The barrier to the entry of Forbes Asia's richest families was $2.9 billion.