It is an astonishing fact that the worlds richest are getting richer by the minute. Waltons, the family behind Walmart Inc., are earning $70,000 per minute, $4 million per hour, $100 million per day.
America’s richest 0.1% today control more wealth than at any time since 1929, but their counterparts in Asia and Europe are gaining too.
So here is a list of the top 10 richest families in the world.
1. Walton
Walmart is the world’s largest retailer by revenue, with sales of $514 billion from more than 11,000 stores worldwide. Family holding company Walton Enterprises owns half the retailer, a stake that’s the foundation of the world’s biggest fortune.
Company: Walmart Inc.
Wealth: $190.5bn
2. Mars
The business Frank Mars went on to establish is best known for M&Ms and Milky Way and Mars bars, though pet-care products make up about half of the company’s more than $35 billion in revenue. The closely-held business is owned by members of the Mars family.
Company: Mars
Wealth: $126.5bn
3. Koch
Brothers Frederick, Charles, David, and William inherited father Fred’s oil firm. A fraternal feud over control of the company in the early 1980s led Frederick and William to leave the family business while Charles and David stayed; they have since grown it into Koch Industries, a conglomerate with annual revenue of about $110 billion. David and Charles manage a portion of their wealth through a family office, 1888 Management.
Company: Koch Industries
Wealth: $124.5bn
4. Al Saud
Al Saud’s net worth estimate is based on cumulative payouts royal family members are calculated to have received over the past 50 years from the Royal Diwan, the executive office of the king. The total wealth controlled by its estimated 15,000 extended members is likely much higher.
Wealth: $100bn
5. Wertheimer
Alain and Gerard Wertheimer are reaping the benefits of their grandfather’s funding of designer Coco Chanel in 1920s Paris. The siblings own the closely held fashion house, which introduced the “little black dress” to the world and had revenue of $11 billion in 2018. The Wertheimers also own racehorses and vineyards.
Company: Chanel
Wealth: $57.6bn
6. Hermes
Jean-Louis Dumas, who died in 2010, is credited with turning Hermes into a global giant in luxury fashion. Among the family members who maintain senior positions at the company are Pierre-Alexis Dumas, the artistic director, and Axel Dumas, the company chairman.
Company: Hermes
Wealth: $53.1bn
7. Van Damme, De Spoelberch, De Mevius
The collective enterprise of these three Belgian beermaking families has roots in the 14th century. The Van Damme family joined the others when the 1987 merger between Piedboeuf and Artois led to the creation of Interbrew, which merged with Brazil’s AmBev in 2004.
Company: Anheuser-Busch InBev
Wealth: $52.9bn
8. Boehringer, Von Baumbach
The German drugmaker Boehringer Ingelheim was founded in 1885 by Albert Boehringer; more than 130 years later, the Boehringer family, encompassing the von Baumbachs, is still in charge. Chairman Hubertus von Baumbach and his extended family are owners of the closely held company.
Company: Boehringer Ingelheim
Wealth: $51.9bn
9. Ambani
Dhirubhai Ambani, the father of Mukesh and Anil, started building the precursor to Reliance Industries in 1957. When 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. He lives in a 27-story mansion that’s been called the world’s most expensive private residence.
Company: Reliance Industries
Wealth: $50.4bn
10. Cargill, MacMillan
Members of this family are majority owners of Cargill Inc., the largest closely held company in the U.S. It was founded by William W. Cargill, who started the commodities business with one-grain storage warehouse in Conover, Iowa, in 1865. His descendants maintain control of the food, agriculture and industrial giant
Company: Cargill
Wealth: $42.9bn
