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Top 10 Richest Families in the World

Top 10 Richest Families in the World: Staying up to date on the wealthy elite with love and appreciation, jealousy, or frustration is probably more satisfying and so much less challenging than conducting research on a mortgage, shopping for online brokers, or getting schooled on complex topics in finance and economics, such as how exchange-traded funds work and the benefits and drawbacks of gross domestic product—regardless of your financial situation (GDP).

To be sure, wealthy families’ appeal reflects a culture that idolizes riches and glorifies the wealthy. The upper tier of corporate leaders are celebrities in a sense, with their abilities as athletes, actors, and politicians examined.

Successful family enterprises may appeal to people from all walks of life. Although few of us would ever become billionaires, we all have families. Furthermore, the qualities of authenticity, tradition, heritage, lineage, and excellence are all associated with family businesses. And wealthy families imply royalty, particularly if the wealth is passed down down the generations.

For the purpose of clarification, we’ve confined our list of richest families in the world to those that gained their fortunes through business, even if some of the heirs who still benefit from the wealth weren’t originally employed in the company. The most current modifications were made in the year 2021

Top 10 Richest Families in the World

1. Walton Family—Walmart

Estimated Wealth: $215 billion

The Waltons are America’s wealthiest family—and, by some estimates remain on the top spot among the richest families in the world. Jim and Alice Walton, at the pinnacle of the value chain, are each worth $54 billion in 2020 and are rated No. 8 and No. 9 on Forbes’ annual list of billionaires, respectively.

Walmart is a big business. Walmart, which was founded by Sam Walton in Arkansas in 1962 and now has a market capitalization of $524 billion and over 2.2 million employees in the United States, is the world’s largest company by 2020 revenues.   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 October 31, 2020, the firm operated roughly 11,510 retail shops worldwide, with 5,347 in the United States.

Walmart is best known for its big-box stores in rural and suburban America, where it is praised for its low-cost goods but condemned for its labor policies.

Except for its competitor, Target, the corporation failed to introduce its big-box consumer culture to New York City.

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2. Mars Family—Mars

Estimated Wealth: $120 billion

Mars is the Walmart of candy: a multigenerational family business 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 manufacturer diversified in 2017 when it paid $9.1 billion for VCA, a pet care company.

Jacqueline and John Mars, whose grandfather, Frank Mars, founded the company, have a combined net worth of $24.7 billion and are ranked No. 29 on Forbes’ annual list of billionaires in 2020. Some of their children, the fourth generation of Mars family members, are now in charge of the business.

3. Koch Family—Koch Industries

Estimated Wealth: $109.7 billion

Charles Koch owes his vast fortune to his father’s oil business, but he is perhaps better known to the general public for his politics, which he has branded by funding candidates and libertarian think tanks, funding university professorships, and lobbying for policy positions, all in the name of furthering 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’s list with David’s widow Julia Koch and her family.

4. Al Saud—Saudi Royal Family

Estimated Wealth: $95 billion

The Saudi royal family, the House of Saud, has a nearly century-long monarchical heritage. Thanks to decades of payments from the Royal Diwan, the king’s administrative office, the family’s huge fortune, estimated at $95 billion, has risen. The Saudi royal family continues to amass fortune thanks to ties with Saudi Aramco, the world’s most profitable firm and an oil sector giant. It’s impossible to measure the House of Saud’s wealth precisely, in part because the family has up to 15,000 extended family members, many of whom have started businesses, earned government contracts, and so on.

5. Ambani Family—Reliance Industries

Estimated Wealth: $81.3 billion

The single Asian business on our list, Indian industrial conglomerate Reliance Industries, may be the least well-known to regular readers. Nonetheless, Mukesh Ambani, whose late father created the firm in 1957, is the 21st richest person in the world, in charge of refining, petrochemicals, oil, gas, and textiles, while his brother, Anil, is in charge of telecommunications, asset management, entertainment, and power generation.

6. Dumas Family—Hermès

Estimated Wealth: $63.9 billion

Hermès, a luxury French fashion brand, is known for its characteristic scarves, neckties, and perfumes, as well as its renowned Kelly and Birkin purses.

Thierry Hermès designed aristocratic riding attire in the nineteenth century. Today, the firm clothes NBA superstars like LeBron James. Hermès Apple Watches range in price from $1,300 to $2,000 and above, fusing ancient and new technology. Axel Dumas is the CEO and chair of the company, and Pierre-Alexis Dumas is the artistic director.

7. Wertheimer Family—Chanel

Estimated Wealth: $54.4 billion

Chanel is known for the timeless “little black dress,” the No.5 perfume, and the late high-profile designer Karl Lagerfeld, who passed away on February 19, 2019. Alain and Gerhard Wertheimer, brothers, now share ownership of the company founded by their grandfather Gabrielle Coco Chanel. With a combined net worth of $17 billion, the brothers are placed 48th on Forbes’ list of billionaires.

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8. Johnson Family—Fidelity Investments

Estimated Wealth: $46.3 billion

Edward C. Johnson II created Fidelity Investments in 1946, and it is now one of the world’s largest financial services organizations, providing investment services to millions of customers. Johnson’s granddaughter, Abigail Johnson, who is ranked 124th on the Forbes billionaires list with a net worth of $10.8 billion, now runs the company.

9. Boehringer, von Baumbach Families—Boehringer Ingelheim

Estimated Wealth: $45.7 billion

Boehringer Ingelheim is a German pharmaceutical firm with a history dating back over 130 years. Several generations later, the Boehringer family, along with the von Baumbachs, are still in charge of the corporation.

10. Albrecht Family—Aldi

Estimated Wealth: $41 billion

After World War II, brothers Theo and Karl Albrecht took over their parents’ grocery company, which expanded into an international chain of grocery stores. Aldi also owns the Trader Joe’s grocery store business in the United States. Theo Albrecht and his family are worth $17 billion and are ranked No. 51 on Forbes’ list of billionaires.

Final Thoughts

To be sure, this list may appear to be a blatant celebration of money at a time of rising global inequality and the disappearance of the middle class, or an implicit endorsement of reckless consumerism at a time when the future of wealth itself is in doubt due to technological disruption and climate change.

Furthermore, because the focus is on families, the list excludes the world’s three richest people—Jeff Bezos, Elon Musk, and Bill Gates—despite the fact that they all have families.

 

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