Caitlyn Moorhead
·5 min read
When your family’s net worth is more than many countries’ gross domestic products, there stands a chance it is amongst the richest families in the world. Family wealth is more than an individual striking it rich, it is both systemic and generational. These family units are not millionaires, they are multibillionaires.
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The 10 Richest Families in the World
So, who is the richest family in the world? The title currently goes to the Walton family with a net worth of $173.1 billion. Keep reading to find out what other families made the list of the top 10 richest families in the world.
1. Walton Family
Company: Walmart
Net Worth: $173.1 billion
The Walton family knows its way around some retail revenue. Its namesake, mega-retailer Walmart, has an estimated global revenue of $611.3 billion. As the family owns nearly half of the company, they should be quite comfortable for generations to come.
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2. Mars Family
Company: Mars
Net Worth: $160 billion
The Mars family got its start in 1902 by selling molasses candy. Now better known for M&Ms than even its Mars bar, the company has diversified its assets into areas such as pet care. Even after four generations, the company is still being run by quite a few members of the Mars family.
3. Koch Family
Company: Koch Industries
Net Worth: $128 billion
It is said there is money in oil, and if the Koch family is any indicator, this holds to be true. Not all families get along and after fighting in the 1980s, the four brothers that owned the inherited oil firm whittled down to two brothers who are running the show. It is estimated that the Koch brothers conglomerate, Koch Industries, generates an annual revenue of $115 billion.
4. Al Saud Family
Company: Saudi Royal Family
Net Worth: $105 billion
The House of Saud — though technically not a company — correlates to the Saudi royal family, which is a nearly century-old monarchy. Due to this fact, the family’s exact wealth is harder to estimate. Ultimately, the wealth stems from the nation’s extensive oil reserves and payouts from the Royal Diwan. However, the family also deals with government contracts and land deals.
5. Hermes Family
Company: Hermes
Net Worth: $94.6 billion
Most people just keep money in handbags, but the family behind the French fashion house made some of their fortune from making and selling them. Birkin handbags, as well as scarves, ties and other designer apparel, can set customers back thousands of dollars.
6. Ambani Family
Company: Reliance Industries
Net Worth: $83.4 billion
The sons of Dhirubhai Ambani inherited their father’s fortune, after which Reliance Industries placed son Mukesh Ambani as the head of the company. This Mumbai-based conglomerate is the world’s largest oil refining complex. Son Anil Ambani runs telecommunications and asset management.
7. Cargill, MacMillan Family
Company: Cargill
Net Worth: $65.2 billion
What started as a grain storage warehouse is now one of the largest agricultural companies in the world. Cargill also has an estimated annual revenue of $165 billion. The two names derive from descendants of the founder William W. Cargill and his son-in-law John H. MacMillan. These descendants still run the company to this day.
8. Wertheimer Family
Company: Chanel
Net Worth: $63.2 billion
The beloved and esteemed fashion house was founded when the Wertheimer family funded the designs of Coco Chanel in the 1920s. Since then, the company has maintained such best-selling staples as the No. 5 perfume and the famous little black dress.
9. Thomson Family
Company: Thomson Reuters
Net Worth: $54.4 billion
Not only is the Thomson family one of the richest families in the world, but it holds the status of the richest family in Canada. The family made its money in media, starting with radio, and now owns a two-thirds stake in Thomson Reuters, which is a financial data and service provider.
10. Hoffman, Oeri Family
Company: Roche
Net Worth: $45.1 billion
There can be big money in pharmaceuticals, which is inherent when you look at the fortune amassed by drug maker Roche Holdings. It was founded in 1896 by Fritz Hoffman-La Roche and makes much of its revenue today by producing oncology drugs. Today, family descendants still control 9% of the company.
Final Take
It may be hard to imagine this kind of wealth — it is the kind of wealth that lasts generations and builds on itself. These families can no longer be thought of as just families, but rather as dynasties, some of which have lasted centuries and likely will continue to endure into the future.
FAQ
Here are the answers to some commonly asked questions about the richest families in the world.
Who are the five richest families in the world?
The top five richest families in the world currently rank as follows:
1. Walton: $173.1 billion
2. Mars: $160 billion
3. Koch: $128 billion
4. Al Saud: $105 billion
5. Ambani: $83.4 billion
Who is the richest family in the world of all time?
The current richest family in the world is the Walton Family with a net worth of $173.1 billion.
Though dollar for dollar, the Rothschild family is considered to be the richest family in modern history, due to the dilution of wealth generationally across the entire family, they no longer rank in the current top 10 richest families in the world.
Is the Rothschild family the richest family in the world?
Though it is estimated that the Rothschild family once had a net worth of between $500 billion to $1 trillion, the family no longer makes the list as one of the wealthiest families due to the dilution of wealth across the whole family, as well as the dissolution of common business enterprises.
The Rothschild family possessed the largest private fortune in the world during the 19th century, even in modern world history, but the family's wealth declined over the 20th century and was divided among many descendants, of whom only a few remain billionaires individually.
Cynthia Measom contributed to the reporting for this article.
Data is accurate as of May 8, 2023, and is subject to change.
This article originally appeared on GOBankingRates.com: Top 10 Richest Families in the World
