Ground Report | New Delhi: Richest families in the world; This week, Bloomberg has listed the richest families in the world, including the owners of giants such as Walmart, Mars, Koch Industries, and Hermes. During this year, the combined wealth of the richest families grew by 22%.
Richest families in the world
The ranking was led by the Walton family, which owns the world’s largest retail and wholesale chain: Walmart. The agency estimated its fortune at $ 238.2 million, which is equivalent to the total annual GDP of countries such as Ecuador, Puerto Rico, and Paraguay.
Walmart was founded by businessman Sam Walton in 1962. Now the number of stores around the world exceeds 10,500 and produces an estimated revenue of 559 billion annually. The Walton family owns 48% of the chain’s shares.
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A total of 25 families entered the ranking. According to Bloomberg, Their combined wealth is about $ 1.7 trillion, up 22% from the previous year.
The top ten include:
- the Walton family, owner of the Walmart store network – $ 238,200,000
- the Mars family, which owns the food manufacturer Mars – $ 141.9 million
- the Koch family, owner of the US petrochemical company Koch Industries – US $ 124.4 billion
- the Hermes family, owners of the French fashion house Hermes – US $ 111,600,000
- the Saudi royal family Al Saud – $ 100,000,000
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- The Ambani family, owner of the Indian oil production and refining holding company Reliance Industries – US $ 93.7 million
- the Wertheimer family, owners of the French fashion house Chanel – $ 61.8 million
- the Johnson family, owners of the US asset management company Fidelity Investments – $ 61.2 million
- the Thomson family, which owns the Thomson Reuters media company, $ 61.1 million
- the Boehringer family, owners of the German pharmaceutical company Boehringer Ingelheim – $ 59.2 billion
Largest family businesses
On the eve, the consulting firm EY and the Swiss University of St. Gallen published their own ranking of the largest family businesses. The top three included Walmart with revenues of $ 559,100,000, the US investment fund Berkshire Hathaway (US $ 245,500,000) and the Italian holding company EXOR (US $ 145,300,000).
The fortunes of the world’s wealthiest families have risen more than 22 percent in the past year, with the Waltons topping the list for the fourth year in a row. The Waltons saw their fortune increase by $23 billion last year. According to a Bloomberg report, the family’s net worth is $232 billion.
The wealth acquired by the luxury dynasties grew rapidly when Hermes increased his wealth to $111.6 billion. However, following the death of Lee Kun-hee, the Lee family, which owns Samsung, fell off the list after paying $11 billion in inheritance tax, the report said.