Most people know the richest individuals in the world, but very few know about the richest families. These families between themselves control about $1.1 trillion of the world’s wealth.
They come from different nationalities; America to Europe to Asia. They control several industries ranging from retail, media conglomerates, agribusiness companies, technology, and more.
Bloomberg compiled the list of the richest families in the world in 2018, based on the June 15, 2018, net worth compilation. Some of the families that have a joint company or enterprise were added as one. Here are twenty families who are considered the richest in the world.
20. The Dassault Family: $27.8 Billion
The Dassault family own and control the Dassault Group, which is their main source of wealth. The Dassault Group comprises of several industries involved in military aircraft manufacturing, real estate, newspaper, and software business.
19. The SC Johnson Family: $28.2 Billion
The Johnson family own SC Johnson. They are into the production of cleaning products such as Pledge, Glade, and Winden. The company was founded in 1882 by SC Johnson and was taken over after his death by his son, Herbert Fisk Johnson.
It is now controlled by the fifth generation of Johnsons, with Herbert Fisk Johnson III, acting as the Chairman and CEO of the company.
18. The Thomson Family: $30.9 Billion
The Thomson family are Canada’s richest family. They own Thomson Reuters; a financial data and service provider. Thomson Reuters is the major source of their wealth, and they have a 64% controlling interest in the company.
In addition to Reuters, they also own shares in Bell Canada, The Globe, and Mail Newspaper in Toronto.
17. The Rauling Family: $30.9 Billion
The Rauling family owns and control Tetra Pak. Their wealth is founded in the packaging industry. Back in the 1950s, the Rauling's family patriarch, Ruben Rauling, created Tetra Pak, and it is currently controlled by his descendants.
Tetra Laval is also owned by the Raulings, and it is the umbrella cover for three companies namely Tetra Pak, Sidel, and DeLaval, making it one of the biggest packaging companies in the world.
16. The Lee Family: $30.9 Billion
The Lee family are the ones behind the Samsung smartphones chain. Samsung is currently the world’s largest producers of smartphones, and it has sixty-two companies under it. In addition, they also produce other gadgets and household appliances.
The Lees are one of Asia’s richest families and are constantly in the billionaire list.
15. The Pritzker Family: $33.5 Billion
The Hyatt Hotels is owned by the Pritzker family. Pritzker and sons, Jay, Donald, and Robert Pritzker, built the family wealth by starting the Hyatt Hotel chain. The Pritzker family also invested in holdings such as The Marmon Group.
Currently, the family fortune is split among thirteen members of the Pritzker family, among which eleven are billionaires, of which Penny Pritzker is one. The family members spent a lot of time in the 2000s disputing over thefts, and at the end, they divided the family fortune.
14. The Cox Family: $33.6 Billion
The Cox family have a lot of businesses under the name Cox Enterprises. They have touched a number of industries including cable and broadband. They also own Cox Communication, newspapers and radio stations under Cox Media Group.
They are also involved in the automobile industry. Cox Enterprises generates about $20 billion in revenue annually. The founder, James Cox five grandchildren currently share the family fortune.
13. The Kwok Family: $34 Billion
Kwok Tak-Seng started and listed Sun Hung Hai Properties back in the 1970s. Since then, Sun Hung Hai Properties has evolved into one of the biggest property developers in Hong Kong. Currently, after the feud between the brothers, Thomas Kwok, Raymond Kwok, and Walter Kwok, Thomas and Raymond took control of the company, having ousted Walter.
12. The Mulliez Family: $37.5 Billion
The Mulliez family owns what is popularly referred to as ‘the Walmart of France,’- Auchan. Auchan is one of the biggest supermarket chains in Europe currently. The family’s holding company, Association Familiale Mulliez, equally controls Leroy Merlin, a home improvement chain, and they also won Decathlon, a sports equipment retailer.
11. The Albrecht Family: $38.8 Billion
Two brothers, Theo Albrecht and Karl Albrecht, came together to create the popular discount supermarket, Aldi. Currently, there are over ten thousand Aldi stores between the brothers, namely Aldi Nord and Aldi Sod.
Theo went a step further and invested in Trader Joe’s. He transformed it into a chain with more than three thousand, five hundred stores. It is still owned by the Albrecht family trust
10. The Boehringer And Von Baumbach Families: $42.2 Billion
For more than 130 years, two German families controlled a giant German pharmaceutical company. The Boehringer family and the Von Baumbach family went into business together, and to this day, the two families still control the German pharmaceutical company, Boehringer Ingelheim.
9. The Cargill-MacMillan Family: $42.3 Billion
William W. Cargill is the founder of the agribusiness giant, Cargill Incorporated back in 1885. Today, twenty-three members of the Cargill-MacMillan family own a controlling interest of 88% in the company. The company generates $108 billion annually in revenues.
Out of the Cargill-MacMillan clan, fourteen are billionaires in their rights. It is also reported that that the family keeps 80% of Cargill Incorporated net worth within the company for reinvestment annually.
8. The Quandt Family: $42.7 Billion
The Quandt family is said to be Germany’s wealthiest family. This is not of sheer luck, but the fact that they own a huge interest of nearly 50% stake in the luxury vehicle company, BMW. Their ownership does not end with BMW but extends to Logwin, a logistics company in Germany.
Also, they have stakes in Gemalto, a security software company.
7. The Ambani Family: $43.3 Billion
When you think of one of the biggest families in the oil refining business, you think the Ambani family of India. Their wealth is gotten from the conglomerate, Reliance Industries, which houses one of the biggest oil refining complex in the world.
The Ambani family also own other businesses throughout India including telecommunications and retail. The current CEO of the company is Mukesh Ambani, and he lives in a 27 storey, 400,000 square-foot mansion in Mumbai.
6. The Wertheimer Family: $45.6 Billion
The Wertheimer family have their patriarch Pierre Wertheimer to thank for the fortune they are enjoying today. Their wealth dates back to the 1920s when Pierre decided to fund Coco Chanel, a designer resident in Paris.
Today, Pierre’s grandsons, Alain Wertheimer and his brother, Gerard Wertheimer, control Chanel. Chanel generated $9.6 billion in 2017 in revenue. In addition to owning Chanel, they also own vineyards in France and Napa Valley, and they also breed and race thoroughbreds.
5. The Dumas Family: $49.2 Billion
The Dumas family made their fortune as owners of the popular luxury good dynasty, Hermes. The origin of Hermes dates back to the 1800s when Thierry Hermes began making for noblemen, riding gears. Over forty years after, the business developed and gained roots in Paris.
Several years later, in the twenty-first century and the ‘70s, Thierry’s descendant Jean-Louis Dumas took the company globally. Currently, Pierre-Alexis Dumas serves as the artistic director, while Axel Dumas serves as the company chairman.
4. The Van Damme, De Spoelberch, And The Mevius Families: $54.1 Billion
Three Belgian families, the Van Damme, De Spoelberch, and De Mevius families came together to make beer. They started the company, Anheuser-Busch InBev. The company has a net worth of over $54 billion, and by 2017, the companies combined global brand revenue grew by almost 17%.
3. The Mars Family: $89.7 Billion
When Jacqueline Mars and her brother, John Mars inherited shares in the candy empire, Mars Incorporated, it was not raking in billions. They came into the business when their father passed away in 1999.
Mars Incorporated is known for inventing candies like M&Ms, Milky Way, and Mars Bars. Currently, Jacqueline’s son, Stephen Badger serves as the chairman of the board of Mars Incorporated. Mars Incorporated brings in more than $35 billion annually in revenue.
2. The Koch Family: $98.7 Billion
The Koch family made their fortune from the famous Koch Industries. The Koch family started with the oil business, and it was started by their patriarch. Charles Koch and David Koch took over from their father and expanded the oil business into a conglomerate which is now known as Koch Industries.
Their brothers, Frederick and William Koch, left the business after they staged a takeover that failed. Presently, Koch industries generate about $100 billion in revenue every year.
1. The Walton Family: $151.5 Billion
The Walton family got their wealth from the department store chain, Walmart. Back in 1962, Sam Walton and his brother, Bud Walton founded Walmart. It became a success and led to them starting The Sam’s Club in 1983.
Today, Walmart reports that it has had over $500 billion in sales, making it the world’s biggest retailer by revenue. The wealth of the family is divided among seven of the family members, including the three children of co-founder, Sam Walton.