June 30, 2018
The moment we think about the rich people in the world, Bill Gates and Mark Zuckerberg is a quick strike. But today, we are going to take a look at the top 10 richest families in the world.
Starting from India, the Ambanis are the only ones who have made it among the top ten richest families in the world by securing a position at number seven. It is among the only three families selected from Asia, while none has been selected from China.
BLOOMBERG HANDPICKED THE DESERVING 25 FAMILIES ON THE BASIS OF THESE CRITERIA:
Firstly, the families holding the legacy of being a part of billionaire club generation after generations, like the Rothschilds or Rockefellers, do not fit the bill of acquiring a slot in the list.
Secondly, self-made hard-earned money makes a better sound in this show, so if a source of wealth is “unverifiable of derives from the state, such as the sprawling House of Saud, are also absent”, mentioned the report.
Thirdly, the Bloomberg Billionaire Index did not include the first-generation fortunes and those which are in the hands of a single heir.
Fourthly, all the richest families in the list at least have a worth of over $1 trillion. The report quoted Rebecca Gooch of Campden Wealth, saying, “There are a host of hurdles families must tackle to ensure that their wealth is safeguarded through the generations. Strategic planning, education and communication is key.”
HERE’S A LOOK AT THE TOP 10 RICHEST FAMILIES CHOSEN BY THE BLOOMBERG:
Wealth: $ 151.5 BN
Industry: Consumer Retail
Base: Bentonville, Arkansas
Walton Enterprises and the Walton Family Holdings Trust running the retail company, Walmart, have topped the list of the richest families with sales of $500 billion from almost 12,000 stores worldwide.
Company: Koch Industries
Wealth: $ 98.7 BN
Base: Wichita, Kansas
Koch Industries were started by brothers Charles and David who left their father’s business due to a fraternal feud in the early 1980s. Started in the 1940s, today Koch industries has an annual revenue of about $100 billion. “David and Charles manage a portion of their wealth through a family office, 1888 Management,” says the Bloomberg.
Wealth: $ 89.7 BN
Industry: Confectionery, Pet care’
Base: Mclean, Virginia
Although it is a niche based company with only pet care products, it is making a revenue of more than $35 billion under M&Ms, Milky Way and Mars Bars. Frank Mars’ company is closely taken care of by the family members.
4. VANDAMME, DE SPOELBERCH, DE MEVIUS
Wealth: $ 54.1 BN
It is a collection of three Belgian beermaking families which has its roots in the 14th century. The evolution of these companies started when the Van Damme family merged with Piedboeuf and Artois in 1987 which led to the creation of Interbrew which further merged with Brazil’s AmBev in 2004. “Verlinvest, an investment vehicle for some of the families, manages more than $2 billion of assets,” says the Bloomberg.
Wealth: $ 49.2 BN
Industry: Luxury Goods
Base: Paris, France
Hermes earned the name in the luxury fashion industry because of Jean-Louis Dumas, who died in 2010. Today, the company is taken over by the family members, including Pierre-Alexis Dumas, the artistic director, and Axel Dumas, the company chairman.
Wealth: $ 45.6 BN
Industry: Luxury Goods
Base: Paris, France
Designer Coco Chanel started the fashion house in the 1930s in Paris. Today, his grandson’s brothers Alain and Gerard Wertheimer are taking care of the brand. They have even introduced “little black dress” to the world and had revenue of $9.6 billion in 2017.
Company: Reliance Industries
Wealth: $ 43.4 BN
Base: Mumbai, India
Dhirubhai Ambani started Reliance Industries in 1957. He passed away in 2002 leaving a will, his widow brokered a settlement between her sons, Mukesh and Anil, over control of the family fortune. Although his possessions were divided between his sons, Mukesh Ambani owns the world’s largest oil refining complex as well as a 27-story mansion that’s been called the world’s most expensive private residence, according to the Bloomberg.
Wealth: $ 42.7 BN
Base: Munich, Germany
Herbert Quandt worked really hard make world’s largest selling luxury vehicles under his brand — BMW. He had died in 1982, leaving behind all his possessions for wife Johanna Quandt, who died in 2015. Now, their children Stefan Quandt and Susanne Klatten, own the company.
9. CARGILL, MACMILLIAN
Wealth: $ 42.3 BN
Base: Minneapolis, Minnesota
Started by William W. Cargill in 1865, this one-grain storage warehouse in Conover, lowa, has become an industrial giant. This food, agriculture and industrial giant has been maintained by the family member.
10. BOEHRINGER, VON BAUMBACH
Company: Boehringer Ingelheim
Wealth: $ 42.2 BN
Base: Ingelheim, Germany
Albert Boehringer founded the German drugmaker Boehringer Ingelheim in 1885. It has been 130 years since the family is taking care of the legacy of this brand. “Chairman Hubertus von Baumbach and his extended family are owners of the closely held company,” says the Bloomberg.