Know the 5 Wealthiest Families in the World – Successful family businesses can appeal to people from all walks of life. While few of us will ever be billionaires, we all have families. Furthermore, the virtues of honesty, culture, heritage, lineage, and quality are all associated with family businesses. And wealthy families imply royalty, especially if the wealth is passed down through the generations.
1. Walton Family – Walmart
(Estimated Wealth: $215 billion).
The Waltons are America’s wealthiest family and, by some accounts, the world’s wealthiest clan. Jim and Alice Walton, at the top of the value chain, are both worth $54 billion in 2020 and are ranked #8 and #9 on Forbes’ annual list of billionaires, respectively. Walmart is a massive retailer.
Walmart, which was established in 1962 by Sam Walton in Arkansas, is now the world’s largest corporation, with $524 billion in sales by 2020 and over 2.2 million employees in the United States. After New York, Los Angeles, and Chicago, if those people formed their own city, it would be the fourth most populous in the United States. As of 30th October 2020, the company operated about 11,510 retail stores worldwide, with 5,347 in the United States.
Walmart, which is best known for its big-box stores in rural and suburban America, is praised for its low prices and chastised for its labor practices. Unlike its competitor Aim, the company struggled to bring its big-box market lifestyle to New York City. Know the 5 Wealthiest Families in the World
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2. Mars Family – Mars
(Estimated Wealth: $120 billion).
Mars is the Walmart of candy: a multigenerational family company that is widely available, inexpensive, and well-liked. M&Ms are the company’s most well-known product today, rather than the eponymous Mars bar. The world’s largest candy company diversified in 2017 when it paid $9.1 billion for VAC, a pet care company.
Siblings Jacqueline and John Mars, whose grandfather, Frank Mars, founded the company, each has a net worth of $24.7 billion, tied for #29 in 2020 on the Forbes annual list of billionaires. The company is now being run by some of their children, the fourth generation of Mars family members.
3. Koch Family – Koch Industries
(Estimated Wealth: $109.7 billion).
Charles Koch owes his vast fortune to his father’s oil company, but he is perhaps best known to the general public for his politics, in which he uses his deep pockets to put his mark on politics by supporting politicians and libertarian think tanks, funding university professorships, and advocating for policy positions, all with the aim of advancing a conservative agenda.
Until David’s death in 2019, Charles worked with his brother David. Charles is worth an estimated $38.2 billion, putting him in a tie for 18th place on Forbes’ billionaire list with Julia Koch and her family. Know the 5 Wealthiest Families in the World
4. Al Saud – Saudi Royal Family
(Estimated Wealth: $95 billion).
The Saudi royal family, the House of Saud, has a nearly century-long monarchical tradition. Thanks to decades of payments from the Royal Diwan, the king’s executive office, the family’s vast wealth, estimated at $95 billion, has risen. The Saudi royal family continues to amass wealth thanks to ties with Saudi Aramco, the world’s most successful business and an oil industry behemoth. It’s difficult to measure the House of Saud’s wealth accurately, in part because the family has up to 15,000 extended family members, many of whom have started companies, won government contracts, and so on.
5. Ambani Family – Reliance Industries
(Estimated Wealth: $81.3 billion).
The only Asian company on our list, Indian industrial conglomerate Reliance Industries, maybe the least well-known to average readers. Nonetheless, Mukesh Ambani, whose late father formed the company in 1957, is the company’s 21st billionaire, in charge of manufacturing, petrochemicals, oil, gas, and textiles, while his brother, Anil, is in charge of telecommunications, asset management, entertainment, and power generation.
