Families With the Most Wealth in the World

These Are the Earth'south Richest Families

Walton wealth soared during the pandemic in a banner yr for rich dynasties

Scarcely a day goes past without a stock auction hitting the market: $99 million one day, $146 meg the next, almost $294 million terminal week alone.

The discrete offerings, frequently by Goldman Sachs Group Inc., are on behalf of the Waltons, the world'southward richest family. In the past vii months they've liquidated $6 billion of Walmart Inc. stock — an corporeality more than double the value of special bonuses Walmart paid its ane.five million U.S. workers last year for recognition of their contributions during Covid.

Rob, Alice and Jim Walton (left to right).

Rob, Alice and Jim Walton (left to right). Photographer: Rick T. Wilking/Getty Images Northward America

And yet, it'due south barely fabricated a dent in their holdings. The descendants of Sam Walton still control 1,334,480,250 shares of Walmart straight and through family unit trusts, while their fortune, largely tied to their pale in the world's largest retailer, has increased past $23 billion over the past twelvemonth because of the ascent stock price.

Walmart'south success has kept the family from Arkansas — now in its third generation — wealthier than Jeff Bezos and Elon Musk, the two mega-billionaires of our era, and almost $100 billion ahead of the world'due south 2nd-richest dynasty, the Mars association, co-ordinate to the Bloomberg Billionaires Alphabetize.

The two families were amid the biggest winners in the by year as governments and fundamental banks flooded economies with cash, fueling a boom in e-commerce, comfort food and spending on pets. But they were far from solitary. Every bit the pandemic reshaped the style we live and work, the 25 wealthiest families on the planet added $312 billion to their collective fortunes, a 22% proceeds since last August.

"Its been the perfect storm for dynastic wealth accumulation," said Bob Lord, an Arizona-based tax attorney and consultant for Americans for Tax Fairness.

Those ranked on the Bloomberg list represent multiple industries and geographies. The Johnsons of Boston-based Fidelity Investments were lifted past the surge in online trading. Asia's richest family, the Ambanis, benefited from a pivot to light-green and digital, while the earth's biggest luxury fortunes, whose futures looked fraught at the depths of the health crisis, rose most of all. The family unit behind Paris-based Hermes soared 75% to $112 billion. The Lauders of Estee Lauder debuted on the ranking.

Princess Diana with Estee Lauder (left) watching a charity polo match.

Princess Diana with Estee Lauder (left) watching a charity polo match. Photographer: Tim Graham

The list excludes first-generation billionaires and isn't definitive — some families' fortunes, such as the Rockefellers', are so diffuse it's hard to runway their assets.

Lord doesn't run across much of a surprise in the gains given years of policies designed to benefit the very summit echelons of wealth. At the heart of that is tax policy that'southward permitted the 0.001% to pay "absurdly" low income tax rates, allowed for giant loopholes in inheritance taxes and enabled a steady decline in corporate rates, he said.

Backlash against widening inequality isn't new. But every bit the pandemic deepened the gulf, it's triggered a cascade of efforts from Beijing to Washington to tax the uber-rich, targeting big companies, investment income and inherited wealth.

In the U.S., President Biden and congressional Democrats accept proposed a diversity of ways to target the rich, including higher capital gains and income revenue enhancement rates and new rules that would make information technology difficult to pass on assets to heirs tax-costless.

That's already spurring families to have action. The Mills family of Chicago sold Medline, their medical business, to private equity firms for more $30 billion, in office to go ahead of more punitive rates as well every bit provide liquidity to family members. A Walmart spokesman said the Waltons' disposals are part of an effort to go on the family's buying percentage stable among stock buybacks, and wouldn't say whether taxes are a motivation. Some of the proceeds will work their style to the family unit'south philanthropic foundation.

Also, it'due south not articulate that the Democrats will achieve their objectives in a fiercely divided congress. Some of America's richest families — the Kochs in particular — have been on the frontline of defending tax breaks for decades, lobbying for provisions they currently enjoy. The Mars family unit is part of a group that'south spent millions since 2012 lobbying for estate and gift-tax reform, according to Senate disclosures.

The impact of higher inheritance taxes could significantly reshape many of these fortunes. Take the Lees of Samsung. The South Korean clan dropped off this yr's ranking subsequently paying an $11 billion inheritance tax post-obit last year's death of patriarch Lee Kun-hee.

The Lees yet are an exception. While South Korea has amid the highest inheritance taxes in the world, in that location'due south a multiplicity of ways wealthy families can sidestep levies. In France, inheritances are taxed upward to 45% and still the country boasts four families ranked amongst the world's richest, more than any nation besides the U.South.

The question mark over future taxation policy has been a chief claiming for wealthy families this year, at least in the U.S., co-ordinate to Karen Harding, caput of the private wealth group at Boston-based NEPC.

"When you call back most meaning wealth, the tax piece is massive. If y'all structure things correct or structure things wrong, it can dominate what the ultimate outcome is," she said.

These families "can programme for anything, they simply need to know what it is."

1

Proper noun Walton

Company Walmart

Wealth $238.2bn

Industry Consumer retail

Location Bentonville, Arkansas

Generations three

portrait Walmart is the globe's largest retailer by revenue, with sales of $559 billion from more than ten,500 stores worldwide. The Walton family unit owns 48% of the retailer, a stake that's the foundation of the world's largest fortune.

Did you know?
Walton family members have sold $vi billion worth of shares this year.

Timeline

1945: Sam Walton buys his kickoff store.

1992: Son Rob becomes chairman subsequently father Sam's decease.

2020: Company issues $2.8 billion in special bonuses to U.South. workers for efforts during the pandemic.

2

Name Mars

Company Mars

Wealth $141.9bn

Industry Confectionery, pet care

Location McLean, Virginia

Generations 5

portrait Frank Mars began selling molasses candies in 1902 at the age of nineteen. The business he went on to create is all-time known for M&Ms, Milky Way and Snickers bars, though pet-intendance products make upwards about half of the company's $39.two billion in revenue. The closely held business is owned by members of the Mars family unit.

Did y'all know?
Mars pays relatively fiddling in dividends compared to peers, choosing instead to reinvest in the business co-ordinate to a March 2021 Moody's credit opinion.

Timeline

1883: Frank Mars is born. He contracts polio as a immature male child and is unable to walk to schoolhouse.

1932: Forrest E. Mars Sr. moves to the U.Yard.

1963: Mars opens a chocolate manufacturing plant in holland.

2001: John and Jacqueline Mars retire from the visitor.

2020: 2 Mars family members file suit to claiming an IRS manor taxation ruling.

3

Proper name Koch

Visitor Koch Industries

Wealth $124.4bn

Industry Industrial

Location Wichita, Kansas

Generations 3

portrait Brothers Frederick, Charles, David and William inherited father Fred's oil business firm. A fraternal feud over command of the company in the early on 1980s led Frederick and William to leave the family business organisation while Charles and David stayed. Information technology has since grown into Koch Industries, a conglomerate with annual revenue of virtually $115 billion. The family manages a portion of its wealth through family part 1888 Management.

Did you know?
Bound Creek Capital, an asset-management arm of Koch Industries, invested in more than 250 special purpose acquisition companies in 2021.

Timeline

1940: Fred Koch co-founds the Wood River Oil & Refining Co.

1961: Charles Koch joins his begetter Fred at the company.

2017: Koch Industries starts venture capital arm, Koch Confusing Technologies, led past Charles Koch'south son Chase.

four

Name Hermes

Company Hermes

Wealth $111.6bn

Industry Luxury goods

Location Paris

Generations 6

portrait The sixth-generation family owns the French luxury manner company famous for its Birkin handbags which can run into the hundreds of thousands of dollars. Among the family unit members who maintain senior positions at the company are Pierre-Alexis Dumas, the creative director, and Axel Dumas.

Did you know?
Acquirement at the company'due south lookout man division about doubled in the first quarter from a yr earlier.

Timeline

1837: Thierry Hermes starts to make riding gear for noblemen.

1880: Business moves to 24 Faubourg Saint-Honore, Paris.

1902: Grandsons Emile Maurice Hermes and Adolphe Hermes go articulation presidents of the visitor.

1950s: Emile's sons-in-law, Robert Dumas and Jean-Rene Guerrand, diversify operations.

1978: Jean-Louis Dumas establishes global network of stores.

2014: Axel Dumas becomes chief executive officeholder.

v

Name Al Saud

Company Northward/A

Wealth $100bn

Manufacture Industrial

Location Riyadh, Kingdom of saudi arabia

Generations 3

portrait The 89-year-onetime monarchy for which Kingdom of saudi arabia is named can credit the nation'due south unrivaled oil reserves for seeding its collective fortune. This internet worth gauge is based on cumulative payouts royal family members are calculated to take received over the past 50 years from the Regal Diwan, the executive part of the rex. The total wealth controlled by its estimated fifteen,000 extended members is likely much college. Many royals have fabricated money through brokering government contracts and land deals and by founding businesses that service state companies, such as Saudi Aramco. Crown Prince Mohammed bin Salman, son of Saudi's seventh monarch, King Salman, personally controls assets worth more $1 billion.

Did you know?
Saudi royal Prince Alwaleed sold office of his pale in the Four Seasons hotel concatenation to Bill Gates's Cascade investment vehicle for $ii.2 billion in September.

Timeline

1902: Ibn Saud, founder of modern Kingdom of saudi arabia, reclaims his ancestral home of Riyadh, kicking off three decades of territorial conquests.

1975: King Faisal is assassinated by his nephew.

2019: Saudi Aramco goes public subsequently revealing itself equally world's most assisting visitor.

6

Name Ambani

Company Reliance Industries

Wealth $93.7bn

Industry Industrial

Location Bombay

Generations 3

portrait Dhirubhai Ambani, the father of Mukesh and Anil, started edifice the precursor to Reliance Industries in the 1950s. When Dhirubhai died in 2002 without leaving a will, his widow brokered a settlement betwixt her sons over control of the family fortune. Mukesh is now at the helm of the Mumbai-based conglomerate, which owns the globe's largest oil refining complex. He lives in a 27-story mansion that's been chosen the world's most expensive private residence.

Did you know?
Mukesh Ambani's Reliance Industries raised $27 billion from KKR, Silver Lake and others concluding year to help speed its shift from energy to tech.

Timeline

1957: Dhirubhai Ambani returns to Bharat from Yemen, and starts a yarn trading business concern out of a minor office in Mumbai.

1977: Mukesh joins the lath of Reliance.

2019: Anil spared jail time later on Mukesh steps in to settle his overdue payment. Anil issues statement saying he'southward "deeply grateful."

7

Name Wertheimer

Company Chanel

Wealth $61.8bn

Manufacture Luxury goods

Location Paris

Generations 3

portrait Brothers Alain and Gerard Wertheimer are reaping the benefits of their grandad's funding of designer Coco Chanel in 1920s Paris. Their family owns the closely held way house, which introduced the "little blackness dress" to the world and had revenue of $10.1 billion in 2020. The Wertheimers also ain racehorses and vineyards. Their half-blood brother, Charles Heilbronn, runs family role Mousse Partners.

Did y'all know?
Chanel paid the family $i.vii billion in dividends in 2019. Last yr it paid zilch.

Timeline

1924: Businessman Pierre Wertheimer negotiates a perfume contract with fashionista Gabrielle "Coco" Chanel.

1983: High german designer Karl Lagerfeld joins Chanel every bit artistic director.

2020: Chanel reports an 18% slump in revenue due to the pandemic.

8

Name Johnson (Fidelity)

Company Fidelity Investments

Wealth $61.2bn

Manufacture Finance

Location Boston

Generations 3

portrait The Boston mutual-fund empire was founded by Edward C. Johnson Ii in Boston in 1946. It is now run past his granddaughter, Abigail. The closely held business firm has responded to the shift away from actively-managed funds in favor of depression-cost alphabetize funds by launching zero-expense ratio funds and edifice a digital asset arm. The Johnsons' family office, Crosby, is based in New Hampshire.

Did you know?
Fidelity announced plans in Baronial to rent 9,000 new workers in the U.Due south. by the stop of yr amid a surge in stock trading.

Timeline

1946: Boston-based lawyer Edward C. Johnson II founds the Fidelity Management and Inquiry Visitor

1977: Ned Johnson becomes CEO.

2018: Abigail Johnson spearheads Fidelity's push into cryptocurrencies with launch of Fidelity Digital Avails.

9

Proper name Thomson

Company Thomson Reuters

Wealth $61.1bn

Industry Media

Location Toronto, Canada

Generations 3

portrait The wealth of Canada's richest family unit originated in the early 1930s when Roy Thomson opened an Ontario radio station. He branched out into newspapers and became the country'due south leading owner. The family holds almost a two-thirds stake in fiscal data and services provider Thomson Reuters through investment firm Woodbridge. The company had $6 billion of revenue last year.

Did you know?
Roy wrote in his 1975 memoir he gear up trusts ensuring family control of the business organisation for lxxx years "and then that death duties will not tear it apart."

Timeline

1934: Roy Thomson buys his beginning newspaper, the Timmins Press.

1976: Roy'due south son Ken becomes chairman of the family business organization interests after Roy dies.

2018: Thomson Reuters sells a majority stake in its financial and risk unit of measurement to Blackstone.

10

Name Boehringer, Von Baumbach

Company Boehringer Ingelheim

Wealth $59.2bn

Industry Pharmaceuticals

Location Ingelheim am Rhein, Federal republic of germany

Generations 4

portrait The German drugmaker Boehringer Ingelheim was founded in 1885 by Albert Boehringer. More than than 130 years later, the Boehringer family, encompassing the von Baumbachs, is nonetheless in charge. Chairman Hubertus von Baumbach and his extended family are owners of the closely held company. They invest in private disinterestedness through family role Profunda.

Did y'all know?
The company's Blazon 2 diabetes drug Jardiance is its top seller. It generated $2.9 billion in revenue in 2020.

Timeline

1885: Albert Boehringer buys a pocket-size tartar factory in Germany.

1939: Albert Boehringer dies.

1992: Erich von Baumbach, son-in-law of Albert Boehringer Jr., is appointed chair of shareholders' commission.

2015: The company appoints a family fellow member, Hubertus von Baumbach, as CEO for the showtime time in 25 years.

11

Name Cargill, MacMillan

Company Cargill

Wealth $51.6bn

Industry Industrial

Location Minneapolis

Generations half-dozen

portrait Members of this family are majority owners of Cargill, a nutrient and agronomics company that had revenue of $134 billion in the 12 months ending in May. It was founded by William W. Cargill, who started the commodities business with i grain storage warehouse in Conover, Iowa, in 1865. His descendants maintain control of the industrial giant. Both branches share a family function, Waycrosse.

Did you know?
The company had its highest-ever profit of $4.9 billion in financial 2021.

Timeline

1865: William W. Cargill becomes the possessor of a grain warehouse.

1884: John H. MacMillan starts working in his begetter'southward bank in Wisconsin.

1932: John MacMillan Jr. becomes general manager as his father experiences wellness issues.

1960: Erwin Kelm becomes the first Cargill president who is not a family fellow member.

1980: Cargill enters the coffee-trading business.

2015: Cargill spins off investment firm Black River Asset Management into three dissever companies.

12

Proper name Albrecht

Company Aldi

Wealth $51bn

Industry Consumer retail

Location Essen and Muelheim, Germany

Generations 3

portrait Brothers Theo and Karl Albrecht took over their parents' grocery store afterward returning home from World State of war Two and turned it into Aldi, a national chain of discount supermarkets. The brothers divided the business in the 1960s. The ii branches – Aldi Nord and Aldi Sued – at present take more than x,000 stores combined. Theo's side of the family likewise owns Trader Joe's, which it bought in 1979.

Did you know?
Aldi Nord is controlled past three trusts, prepare by Theo Sr. to ensure long-term family command.

Timeline

1913: Albrecht grocery shop opens in Essen, Germany,

1971: Theo Albrecht kidnapped for 17 days and $2 1000000 is paid for his release.

2014: Karl Albrecht dies, passing control of Aldi Sued to his 2 children.

13

Name Lauder

Visitor Estee Lauder

Wealth $49.3bn

Industry Cosmetics

Location New York

Generations 3

portrait Raised in Queens to Hungarian-Czech immigrants, Estée Lauder began selling peel care and makeup products in New York beauty salons. In 1946 she and her husband Joseph launched a visitor to sell her own skin creams, and after 1 twelvemonth received an order for $800 worth of products from Saks Fifth Avenue. Today Estee Lauder sells skin care, hair products, fragrance and cosmetics throughout the earth. Notwithstanding controlled past members of the family unit, it had acquirement of $16.2 billion in fiscal 2021. RSL Investments is the investment office of 2d-generation fellow member, Ronald.

Did you know?
The Breast Cancer Research Foundation, founded past Leonard's late wife, Evelyn, has raised $i billion since its inception in 1993.

Timeline

1946: Estee Lauder develops her own beauty line, starting with four products.

1958: Post-obit service at sea as a naval officer, Leonard Lauder joins his mother's company.

2010: William Lauder steps downwardly as CEO of Estee Lauder. Not-family member Fabrizio Freda takes over.

14

Name Hoffmann, Oeri

Company Roche

Wealth $47.3bn

Industry Pharmaceuticals

Location Basel, Switzerland

Generations 5

portrait Drug maker Roche Holding was founded past entrepreneur Fritz Hoffmann-La Roche in 1896. His descendants control 9% of the visitor, whose blockbuster oncology drugs helped the group generate $62 billion in 2020 revenue. Family members take been prominent supporters of nature conservation.

Did you lot know?
The family unit shareholder puddle received more than than $700 million in dividends from Roche in 2020.

Timeline

1896: Fritz Hoffmann-La Roche launches a medicine company at 28.

1932: Fritz Hoffmann's son Emanuel dies in a traffic accident.

1961: Lukas Hoffmann co-founds World Wildlife Fund.

1996: Andre Hoffmann joins the lath of Roche.

2019: Vii members of the 5th generation join the family'south shareholder pool.

15

Proper noun Mulliez

Visitor Auchan

Wealth $45.9bn

Manufacture Consumer retail

Location Lille, France

Generations iv

portrait The Mulliez family had already built a retail empire by the time Gerard Mulliez started Auchan, known as French republic'south Walmart, in 1961. Auchan has grown into one of Europe's biggest supermarket chains. The family holding company, Association Familiale Mulliez, controls a diverse group of retail businesses, including home-improvement chain Leroy Merlin. Their family office, Creadev, focuses on entrepreneurs trying to increase access to essential goods and services.

Did you know?
Creadev allocates virtually $236 meg to invest every year.

Timeline

1931: Gerard Mulliez is built-in into a family that runs a clothing company.

1961: Mulliez opens the showtime Auchan shop in French republic.

1998: Auchan expands into Hungary.

2020: China's Alibaba pays $three.6 billion to accept control of a Chinese hypermarket operator from the Mulliez family.

16

Name Quandt

Company BMW

Wealth $42.3bn

Industry Automotive

Location Munich

Generations iv

portrait Herbert Quandt helped turn Bayerische Motoren Werke from a struggling carmaker into i of the world'south largest manufacturers of luxury vehicles. Family unit matriarch Johanna Quandt died in 2015 and her children, Stefan Quandt and Susanne Klatten, own nearly half the visitor.

Did you know?
BMW's first quarter revenue rose 22% from a year earlier.

Timeline

1883: Emil Quandt acquires a textile visitor owned by his belatedly begetter-in-police.

1933: Guenther Quandt joins the Nazi Party.

1995: An overhaul of insider trading laws forces the family unit to disclose it owns nearly half of BMW.

2015: Johanna Quandt, Herbert's widow, dies.

17

Name Dassault

Company Dassault Systemes

Wealth $41.9bn

Manufacture Software, Aviation

Location Paris

Generations 3

portrait Built-in in Paris in 1892, Marcel Dassault invented a blazon of shipping propeller during World War I that was used by the French military. By the 1960s Marcel's visitor, Dassault Aviation, was shipping planes overseas, somewhen becoming best known for its Delusion and Rafale fighter jets. The family unit-controlled Dassault Group today also includes software, media and real estate businesses. Its near valuable company is Dassault Systemes, a engineering science visitor with more than $5 billion in revenue that provides 3D surface modeling of wind tunnels and other structures. The family invests in venture, existent estate, private debt and other assets through family part Groupe Industriel Marcel Dassault.

Did you know?
Dassault comes from the French word for "assail," and was the allonym for Marcel'south brother, a resistance fighter in World War Two.

Timeline

1928: Marcel Dassault sets up aeroplane manufacturing company Société des Avions Marcel Bloch, which he later renames Dassault Aviation.

1986: Marcel Dassault dies. His son Serge takes over as chief executive of Dassault Group.

2018: Serge Dassault dies at 93, passing control of Dassault Group to his four children.

eighteen

Name Newhouse

Company Accelerate Publications

Wealth $41.6bn

Industry Media

Location New York

Generations 3

portrait Samuel Irving Newhouse founded Advance in 1922. He built upward a portfolio of newspapers, magazines, cablevision goggle box and radio stations that sons Samuel and Donald eventually ran. In contempo years the grouping has sought to diversify, and purchases take included the Ironman race serial. A family-owned fund, Accelerate Venture Partners, invests in software, commerce and media sectors.

Did you know?
Advance bought Reddit in 2006 for reportedly between $10 and $twenty one thousand thousand. They're notwithstanding i of the largest shareholders of the site, which was recently valued at $10 billion.

Timeline

1922: S.I. Newhouse establishes Accelerate Publications.

1998: Book publisher Random House sold to Bertelsmann.

2019: Conde Nast appoints Jonathan Newhouse as chairman of its board.

19

Proper noun Van Damme, De Spoelberch, De Mevius

Visitor Anheuser-Busch InBev

Wealth $forty.2bn

Industry Beverages

Location Leuven, Belgium

Generations five

portrait The collective enterprise of these 3 Belgian beermaking families has roots in the 14th century. The Van Damme family joined the others when the 1987 merger betwixt Piedboeuf and Artois led to the creation of Interbrew, which merged with Brazil'south AmBev in 2004.

Did y'all know?
The De Spoelberch and De Mevius families founded investment firm Verlinvest, a major shareholder in Oatly.

Timeline

1895: Edmond Willems, owner of the Artois brewery, dies.

1926: Stella Artois is released equally a Christmas beer.

1968: Artois takes over the Dommelsch Brewery.

1987: The Artois and Piedboeuf breweries merge.

2016: AB InBev merges with SABMiller.

twenty

Name Cox

Visitor Cox Enterprises

Wealth $38.6bn

Industry Communications, automotive

Location Atlanta

Generations 4

portrait The Cox family controls Cox Enterprises, a conglomerate with nearly $20 billion in revenue. Its Cox Communications division is one of the largest cable companies in the U.S. James M. Cox founded the visitor in 1898. His descendants, including James C. Kennedy and Blair Parry-Okeden, remain shareholders. The family invests exterior the company'due south core areas of autos and communications through the Cox Family Part.

Did you know?
Cox has invested more than $1 billion in cleantech. Information technology recently bought indoor farming visitor BrightFarms.

Timeline

1898: James M. Cox, 28, borrows $26,000 from friends and family to purchase the Dayton Evening News in Ohio.

1957: Jim Cox Jr. takes over the company afterward his father's death.

1988: Jim Kennedy, grandson of founder James Cox, is promoted to CEO and chairman.

2018: Alex Taylor takes charge of Cox Enterprises.

21

Name Rausing

Company Tetra Laval

Wealth $35.9bn

Industry Packaging

Location London

Generations iii

portrait The family'due south wealth originated with the drink cartons pioneered past Ruben Rausing in Sweden in the 1950s. Descendants of Ruben's son Gad control closely held Tetra Laval, one of the earth's biggest packaging companies. Another son of Ruben'south, Hans, sold his stake in the business to Gad in 1995 and later invested in eco-friendly packaging and equities through London-based family part, Alta Advisers.

Did yous know?
Tetra Laval'south dairy-equipment business, DeLaval, was the simply partitioning that saw an increase in sales last year, on rising need for automated milking machines.

Timeline

1929: Ruben Rausing becomes a partner in a packaging company.

1995: Hans Rausing sells his fifty% stake in the business to brother Gad.

2019: Hans Rausing dies.

22

Name Kwok

Company Sun Hung Kai Properties

Wealth $35.6bn

Industry Real Manor

Location Hong Kong

Generations 3

portrait Kwok Tak-seng co-founded the predecessor to real estate company Sun Hung Kai Properties in 1963, going on to buy up lots of state in an optimistic bet on the city'south future development. It went public in 1972. The company has since become one of Hong Kong's largest holding developers and the basis of the Kwok family fortune. His sons, Walter, Thomas and Raymond, assumed control when he died in 1990.

Did y'all know?
The company reported $3.7 billion in contracted sales for its residential properties in the fiscal 2021 year.

Timeline

1972: Kwok Tak-seng, a grocery wholesaler, incorporates Lord's day Hung Kai Backdrop.

2018: Walter Kwok dies, a decade after he was ousted as chairman in a feud with his brothers.

2020: Thomas Kwok re-joins family unit visitor as a senior managing director at a subsidiary after serving prison house judgement for a bribery case.

23

Proper name Pritzker

Company Hyatt Hotels

Wealth $35.3bn

Industry Hotels

Location Chicago

Generations 4

portrait The son of a Ukrainian immigrant, A.Due north. Pritzker began investing in real estate and troubled companies while working for his father's constabulary house. The investments seeded the fortune of one of America's oldest dynasties, whose avails include Hyatt Hotels. Family members are prominent Democrats, with Penny Pritzker serving as U.S. commerce secretary under President Barack Obama. Family-owned investment vehicles include Pritzker Organisation and Pritzker Private Majuscule.

Did you know?
The family sold 60% of industrial conglomerate Marmon to Berkshire Hathaway for $4.v billion in 2007.

Timeline

1903: Ukrainian Jewish immigrant Nicholas Pritzker establishes the police force firm Pritzker & Pritzker.

1936: A.N. Pritzker and blood brother Jack co-operative out from law and get-go investing in real estate.

1957: Nicholas's grandsons Jay and Donald Pritzker create the Hyatt Hotels concatenation.

2019: J.B. Pritzker, a Democrat, becomes governor of Illinois.

24

Name Ferrero

Company Ferrero

Wealth $34.5bn

Industry Confectionery

Location Alba, Italian republic

Generations iii

portrait Michele Ferrero built a global chocolate confectionery visitor from a single store in the small Italian town of Alba. His son Giovanni took sole charge of the family business organisation after his brother Pietro died in a cycling accident in 2011. Ferrero acquired Nestle's U.Southward. candy business for $2.8 billion in 2018. The family unit manages money through their firms including Monaco-based Fedesa and Luxembourg-based Teseo Capital.

Did yous know?
Newer products similar Nutella biscuits boosted the visitor'southward net sales to $14.6 billion in fiscal 2020.

Timeline

1946: Pietro Ferrero creates a sweetness paste from hazelnuts, sugar and cocoa in war-ravaged Italy.

1964: First jar of Nutella is produced.

2020: Visitor acquires U.K. granola-bar maker Eat Natural, in nod to healthier snack tendency.

25

Name Johnson (SC)

Company SC Johnson

Wealth $33.8bn

Industry Household goods

Location Racine, Wisconsin

Generations 5

portrait Five generations of the Johnson family take built SC Johnson into a household-goods empire. Samuel C. Johnson began selling parquet flooring in 1882, a trade that became the foundation for SC Johnson. Fisk Johnson is the company's chairman and chief executive. Its brands include Mr. Muscle, Raid and Windex. Johnson Keland Direction is the name of their family office.

Did you know?
The family has a long history of collecting American art. Frank Lloyd Wright designed SC Johnson's administration edifice.

Timeline

1886: Samuel C. Johnson starts touring the countryside, selling flooring.

1906: Herbert F. Johnson Sr. becomes a partner.

1928: Herbert F. Johnson Jr. inherits the company at age 28, afterwards his father'southward death.

1955: Samuel C. Johnson, nifty-grandson of the founder, becomes caput of the new products sectionalisation.

2004: Fisk Johnson becomes CEO.

Methodology

Net worth figures are as of September 10, 2021. The ranking excludes first-generation fortunes and those fortunes controlled by a single heir. Clans whose source of wealth is too diffuse or opaque to be valued are also excluded.

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Source: https://www.bloomberg.com/features/worlds-richest-families-2021/

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