We are nothing without our families, and if a person in a family becomes wealthy, the whole family becomes wealthy. The wealth is not a thing that can be earned in a day, it takes time to make a specific amount of money, and this money increases exponentially when the whole family decides to contribute to it.
So, when families come together, it increases the overall wealth in a country, from India to America and Europe to Australia, high concentrations of wealth can be found quickly all across the globe. Today there are over 2,153 billionaires over the world, and they sum up the listed net worth to the US $8.7 trillion.
The families are the only ones that would support you when no one does, and we can link up to this when we heard of smaller Ambani brother paying bigger Ambani brother’s debts.
The billionaire keeps adding up to the list, and the families keep adding up too. So today, we decided to rank the top 15 families with the wealthiest fortunes all around the world
as of October 2020. Together some of the families possess a lot of money, and today we will see the wealthiest families all over the globe. So let’s begin with our list.
15. Reimann Family
Fortune: $38 Billion
The Reimann family is the group behind JAB Holding Company, which is a private German conglomerate that is headquartered in Luxemburg, and it includes investments in a different company. The company currently cooperates in the areas of consumer goods, forestry, coffee, fast food, and luxury goods. They also have some minority stake in the consumer products company Reckitt Benckiser. They have majority stakes in Coty, Peet’s Coffee & Tea, Caribou Coffee Company, and Einstein Noah Restaurant Group and in Jimmy Choo.
90% stakes of the JAB holdings belong to four children of the nine adopted children of Albert Reimann Jr, who died in 1984. But this wasn’t the condition initially, as nine of the children inherited 11.1% ownership collectively upon the death of Albert in 1984 but later five of the nine sold stakes to four others Matthias Reimann-Andersen, Renate Reimann-Haas, Stefan Reimann-Andersen, and Wolfgang Reimann.
14. Thomson Family
Fortune: $39.1 Billion
The Thomson family is the wealthiest family of Canada. The family comprises four brothers David, Roy, Peter, and Kenneth, and they manage the financial data and services provider Thomson Reuters, and there they share a 64% stake in the company.
The company has been continuously boosting its operations in Canada, and they also have a stake in Bell Canada, the Globe, and Mail newspaper in Toronto. Family’s initiatives have been global since starting, and they have been trying very hard to reach different nations, and due to this reason, the chairman of Thomson Reuters is one of the closes friends with Sheikh Mohammed bin Rashid Al Maktoum who is the Prime Minister and Ruler of Dubai. He is also one of the most influential leaders in the Middle East.
The family has suffered a significant loss this year, and they have also witnessed the death of their matriarch Marilyn Thomson.
13. The Lee Family
Fortune: $40.8 Billion
If you love Samsung, then the Lee family is the reason behind this global brand. The company was opened in 1938 when Korea was still under Japanese rule, and it was opened by Lee Byung-Chull. It was a trading company back then, and it included a flour mill for making noodles and trucks carrying fruit and fish to market. The Japanese were defeated after seven years later. The founder Lee died in 1987, and his third and the youngest son Lee Kun-Hee was in the control of an empire, which was dominated by the shipbuilding, construction, electronics, and electrical products and finance.
Samsung currently accounts for 21% of Korea’s GDP, and the empire has been growing more rapidly than ever. The name of the family members are Lee Kun hee, Lee Jae Yong, Lee Boo Jin, Lee Jay Hyun, Lee Myung hee, Hong Ra hee, Hong Seok Joh, Chung Yong Jin, and the Lee family also has stakes in CJ group, Shinsegae, Hansol, and even BGF Retail.
12. The Cargill-Macmillan family
Net worth: $42.9 Billion
Cargill Inc. was founded by William W. Cargill in 1865 during Civil War, and today there exist 23 family members in the family who have total 88% stakes in the company, and the company generates over $110 billion every year. Out of 23, 14 are billionaires, and the family keeps 80% of Cargill Inc.’s net income inside the company for their reinvestment annually.
The worth of the company has significantly fallen as in 2016; the family was ranked as the fourth wealthiest family in America, and Cargill Inc. is currently the most significant private-owned corporation in the United States.
There are two branches of the Cargill family, and after the death of William W. Cargill, his son-in-law, John MacMillan, saved the company from its debts and other crisis. The family members are estimated to $1.2 billion each. The total wealth of James and Margaret Cargill is expected to be around $1.8 billion each.
11. Ambani Family
Fortune: $51.1 Billion
The Ambani family is the wealthiest family of India and is the owner of Asia’s biggest conglomerate Reliance Industries. Reliance was founded by Dhirubhai Ambani in 1957, and the company oversees refining, petrochemicals, oil, gas, and textiles, and both brothers have their own telecommunication company. Mukesh Ambani has the biggest telecommunication company, Jio of India, and Ani’s elder son, Anmol, is also the executive director of Reliance Capital. The brothers are known for extensive acquisitions, although bigger brother Anil Ambani was in serious debt some months ago.
Reliance also owns the Network18, which is a licensee of Forbes Media. Their father used to work at a Yemen gas station and sold spices before his Reliance Textile industries introduced the Vimal textile brand in India. Since 2002, after the death of their father, the kingdom was divided into two parts, and their children are also now a part of the business. The family was also considered as Asia’s Richest Family in 2017.
10. Kamprad Family
Fortune: $50.7 Billion
Feodor I. Kamprad was a Swedish businessman who is the founder of IKEA, which is a multinational retail company and specializes in furniture. He was a businessman from childhood as he started selling matches at the age of five, then at the age of 7, he further afield on his bicycle to sell to neighbors. He founded IKEA at the age of 17, and there he sold the replicas of his uncle Ernst’s Kitchen Table.
Kamprad later died in his sleep of pneumonia at the age of 91 at his home in Sweden in 2018. Half of his wealth went for the projects in Norrland, which is a sparsely populated part of Sweden as he wanted to develop that part and wanted to make it possible for young people to live in that part. His other half wealth was divided into three other family members, Peter Arras Feodor Kamprad, Hans Jonas Ingvar Kamprad, Nicolas Achim Mathias Kamprad, o.
9. Arnault Family
Fortune: $51.1 Billion
Bernard Arnault is one of the world’s ultimate taste-makers, and he oversees an empire of over 70 brands, which include fashion brands like Louis Vuitton and Sephora. He is also a significant stakeholder in the LVMH group, which is a good group, and it recorded sales and profits in 2018, and all this happened due to increased spending by Chinese customers. He is also the visionary behind the $135 billion Frank Gehry-designed Foundation Louis Vuitton museum, which was opened in 2014 in Paris. The family and the LVMH group also pledged over $220 million for the repair of the Notre Dame Cathedral in Paris.
His daughter is the executive vice president of Louis Vuitton, and she is also a member of LVMH’s executive committee. Arnault also bought the Christian Dior in 1985.
8. Boehringer, Von Baumbach Families
Fortune: $51.9 Billion
Boehringer Ingelheim is Germany’s largest pharmaceutical company and is one of the world’s largest pharmaceutical companies. The company has over 130 years of history, and it is in control of the Boehringer family, along with the Von Baumbach. The company is headquartered in Ingelheim, and it operates globally with more than 146 affiliates, and it has over 50,000 employees. The company isn’t listed publically, and it is entirely private. The company was officially founded in 1885, and it merged with Dr. Karl Thomas GmbH, and it became Boehringer Ingelheim Pharma KG.
The company is involved in many publicly funded collaborative research projects with many partners.
7. Porsche/Piech family
Fortune: $52.8 Billion
The Porsche family is one of the oldest Austrian-German family of industrialists who descend from the automotive pioneer Ferdinand Porsche. The members of this family have full control over the Porsche SE automobile company and have majority voting rights over Volkswagen AG, which is the biggest automaker in the world. All the members of the family currently reside in Austria, and the family’s headquarters are in the Austrian town of Zell am See.
6. Van Damme, De Spoelberch and De Mevius Families
Net worth: $52.9 Billion
One of the oldest Belgian brewers has a history extending back more than 500 years. The family can be traced to 1535, and Van Damme clan joined the efforts of the De Mevius and De Spoelberch in 1987, and there was the formation of Interbrew. The merger is of a total of three families, and significant stakes are handled by the Spoelberch. The families have a total estimated fortune of over $53 billion.
5. Dumas Family
Fortune: $53.1 Billion
The owner and originator of the French fashion and luxury brand Hermes is none other than the Dumas Family. The brand is known for its signature scarves, neckties, iconic Kelly and Birkin handbags and perfumes. The founder of the brand Thierry Hermès was very much skilled with leather, and he was so skilled that his main clients in the 19th century were royal families, and today the brand is known for its exclusive Parisian fashion. The brand is headed by two cousins Pierre-Alexis and Axel Dumas. Although the brand’s stakes were divided among three persons, which include Sandine Dumas, who is the daughter.
Today, the brand is endorsed by LeBron James, and it adorns the basketball royalty. The company also sells Apple Watches by comprising it with their old school and new technology. They sell these watches for $1300-$2000. Axel Dumas is the current CEO of the company, whereas Pierre-Alexis Dumas currently serves as artistic director.
4. Al Saud Family
Fortune: $100 billion
The family that extends its wealth back from more than 100 years. The Saudi royal family has a tremendous monarchical history, and the massive fortune of the family is estimated to be around $100 billion. The wealth has been growing over the years due to the decades of payments from the Royal Diwan, which is the king’s executive office.
They have ties with Saudi Aramco, which is the world’s most profitable company and is the biggest oil company in the oil industry. The family has over 15,000 extended members. Some of the members have founded businesses, and many have received government contracts. The family is also known as the house of Saud, and they are descendants of Muhammad bin Saud.
3. Koch Family
Fortune: $124.5 billion
The Koch family is one of the most political, American families engaged in business, and they control the Koch Industries. The Koch Industries is the second-largest privately owned company in the United States. The family business was started by Fred C. Koch, and he founded the oil refinery firm back then, which later became Koch Industries. He was also one of the founding members of the John Birch Society. Later after his death in 1967, Fred’s four sons litigated against each other in the 1980s and 1990s.
By 2020, only Charles Koch and David Koch were running the industries, but the duo stopped after the death of David Koch in 2019, and most of the stakes when to his wife.
2. Mars Family
Fortune: $126.5 Billion
Mars is one of the biggest candy companies in the world; it is the Walmart of the candy industry and a multigenerational family business that is cheap, unique, and very popular. The company is majorly famous for its Mars bar and tasty M&Ms. The family was once ranked as the wealthiest family by Fortune Magazine in 1988, but later it was surpassed by Walton Family. The company was founded by Franklin Clarence Mars as he invented the Milky Way Bar in 1923. The business was handed over to his grandson and granddaughter after the death of his son Forrest Mars.
Both Jacqueline and John each have a net worth of over $23.5 billion in 2020, and the company is currently being run some of their children, which is the fourth generation of children.
1. Walton Family
Fortune: $190.5 Billion
The Waltons have been dominating this list for over ten years, and they are by some measure the most prosperous clan of the world. Both the current major stakeholder, Jim, and Alice Walton, are worth more than $44 billion in 2020, and they ranked 16th and 17th that year, on the Forbes annual list of billionaires. Walmart is the biggest retail company of all.
The company was founded by Sam Walton in Arkansas in 1962, and it is the world’s largest company by 2020 revenues. It was able to get a revenue of $514.4 billion. The company has over 12,000 retail stores worldwide and 5,362 stores in the U.S. as of 2019.
So this was the list of 15 wealthiest families worldwide, and it includes some of the wealthiest and most prominent families of the world. Well, we have known that the wealthiest dynasties have been embedded in politics for many years, and the list is nothing but facts that these families have been able to gain a considerable sum of money over these years with a lot of hard work.
This list comprises who the groups in which more than one member has contributed to the family business, so it doesn’t mean that we have neglected tech giants like Bezos and Gates or the investment kind, Buffett.