In this article, we take a look at the 30 richest families in the world. To skip our detailed analysis, you can go directly to view The 10 richest families in the world.
When you think about the wealthiest families in the world, you can’t help but remember that the unequal distribution of resources has allowed this to happen. The world currently has enough resources to take care of its population, but the vast majority cannot enjoy a decent standard of living, while the rich enjoy a life of luxury beyond our comprehension. Although global GDP has quadrupled since 1980, living standards have not increased at the same rate, with much of this wealth concentrated among the rich. This means that while wealth builds steadily over years and decades, so does global inequality. Of course, it’s not all doom and gloom. After all, many countries have worked hard and made some progress in reducing extreme poverty, and this is probably the result of globalization and a declining economy. However, it should be emphasized that this problem has not been completely eliminated.
According to Inequality.org, income inequality has never been higher, with the world’s richest 1% owning an astronomical 46% of global wealth. This, of course, means that the remaining 99% have much less left to sustain themselves, and the cycle continues. Interestingly, while lack of opportunity, corruption, and generational wealth drive income inequality in developing nations, the spread of wealth continues unabated in most developed economies. Therefore, most of the 30 richest families in the world are found in the United States
The disparity between rich and poor has been obvious to all for some time, but if there were any doubts, the pandemic has erased them all. Finally, you can simply look at the unequal distribution of vaccines, where rich countries were able to collect more vaccines than they needed, while low-income countries struggled to vaccinate only a small percentage of the population. By mid-January 2022, the number of vaccine doses per 100 people was 13 times higher in high-income countries than in low-income countries. That’s one way of looking at it. Another point of view: if it were not for the technologically advanced rich countries to invent a vaccine using brand-new technology in such a short time, the population of low-income countries would not have received a single dose. of the vaccine.
Another amazing statistic is that even as unemployment soared and large corporations cut their workforces by the tens of thousands at a time, billionaires gained more wealth than ever before, with the total wealth of billionaires increasing by $3.9 trillion worldwide between March and December 2020. Meanwhile, as unemployment reached record levels in many countries, workers’ incomes around the world fell by $3.7 trillion.
So how do the world’s richest families get rich? Often, one family member starts a company, becomes very successful, and brings in other family members, often children, who own the company and thus the wealth is passed down to the family. Often, this wealth is then passed down from generation to generation, meaning that wealth continues to accumulate within the family, increasing its net worth as the company or investments grow. Research also shows that family companies are more successful than traditional companies because family companies are perceived as more trustworthy.
Academic research on the success of family firms
The question of whether family companies are objectively more successful than faceless corporations has been addressed in many studies, especially in the last two decades, looking at the markets of different countries, from the United States to Italy to Vietnam. According to a professor at the Corporate Governance Forum at Harvard Law School, investors value family firms, especially if the founder also serves as the CEO, mainly because “conflicts between the manager and the owner are alleviated by bringing them into the company.” create families with a strong incentive to monitor.” There is evidence to support this, given that acquisitions and divestitures of family corporations have produced better returns for shareholders than acquisitions and divestitures of non-family companies. Family Business Stock Index conducted a study that looked at the performance of family-owned and non-family-owned companies and found that from 1976 to 1996, the former provided a return of 16.6%, while the latter had a return of only 14%. When considering the difference, the share price of family businesses increased by 13.9%, while the share price of non-family businesses increased by only 9.6% during the same period.
In a similar study conducted by the Department of Economics and Management of the University of Pavia in 2022 on the Italian stock market, family businesses outperformed non-family businesses by a significant margin. Research shows that founding family firms focus on a growth investment style, and companies where a founding family member is also the CEO perform better due to strong motivation and long-term thinking, which leads to better returns in the long run. .
Investing in family companies may not be the best strategy, but it seems to outperform the market. Therefore, in this article, we present to your attention the richest families and the largest family companies.
Many of the world’s richest people are philanthropic, often donating tens of millions of dollars, and in some cases billions of dollars. The most generous people in the billionaire community gave away a combined $169 billion during their lifetimes, but their wealth continues to grow. Amazon.com, Inc. (NASDAQ: AMZN ) founder Jeff Bezos’ ex-wife Mackenzie Scott kicked it off by donating $5.8 billion to hundreds of groups in 2020 and another $2.7 billion in June 2021. the fastest transfer of his wealth in history.
The total wealth of the world’s richest families is almost 1.7 trillion dollars. That doesn’t include people on our list who are much higher than most families, like Elon Musk or Bernard Arnault. We determined each family’s net worth based on the latest available net worth figures from Forbes and Bloomberg. So, starting with number 30, let’s take a look at the top 1% of the 1%:
30. The Marshall Family
Total family net worth (in billions): $18.5
The Marshall family fortune was derived from their ancestors’ partnership with the Koch family decades earlier.
29. The Brown Family
Total family net worth (in billions): $20.4
The Brown family owns Brown-Forman Corporation (NYSE:BF.B), known for its most famous brand in Jack Daniels.
28. The Hearst Family
Total family net worth (in billions): $21
The Hearst family may not be among the richest families in the world, as their wealth from broadcasting and publishing companies has continued to decline over the years.
27. The Mills Family
Total family net worth (in billions): $26.2
The Mills family owns Medline Industries, a company that manufactures and markets pharmaceutical products.
26. The family of Mr
Total family net worth (in billions): $27.4
The second richest family in India owns the Shapoorji Pallonji Group, the largest Indian conglomerate.
25. The Cox family
Total family net worth (in billions): $28.3
The Cox family owns Cox Enterprises, a telecommunications and automotive company.
24. Dassault family
Total family net worth (in billions): $28.5
The Dassault family owns Dassault Systèmes SE, a French software company that specializes in 3D product design, simulation and manufacturing.
23. The Kwok family
Total family net worth (in billions): $29.2
Among the world’s richest families, the Kwok family is based in Hong Kong, where they own real estate company Sun Hung Kai Properties.
22. Van Damme, De Spulberch, De Mevius
Total family net worth (in billions): $29.9
Together, the three families own Anheuser-Busch InBev SA/NV (NYSE: BUD ), the world’s largest brewer.
21. The Newhouse family
Total family net worth (in billions): $30
The Newhouse family owns Conde Nast, which owns major magazines such as The New Yorker, Vogue and Vanity Fair.
20. The Duncan Family
Total family net worth (in billions): $30.1
The Duncan family owns Enterprise Products Partners LP (NYSE: EPD ), an industrial company with a current market cap of more than $53 billion.
19. The Lauder family
Total family net worth (in billions): $32.7
The Lauder family is The Estée Lauder Companies Inc., a prestigious cosmetics company headquartered in New York. (NYSE:EL) owner. The company was founded in 1946 by Estee Lauder himself.
18. The Pritzker family
Total family net worth (in billions): $34.6
The Pritzker family owns Hyatt Hotels Corporation (NYSE: H ), one of the world’s largest hotel corporations.
17. The Quandt family
Total family net worth (in billions): $36
When Herbert Quandt ran BMW, it was a car manufacturing company. Now it is one of the largest companies in the world with a global reputation for luxury cars.
16. Hartono family
Total family net worth (in billions): $36.3
The Hartono family is the richest family in Indonesia due to their ownership of the tobacco company Djarum Group.
15. Bon Baumbach Bohringer Family
Total family net worth (in billions): $36.6
The Bon Baumbach Boehringer family is one of the wealthiest families in Germany as it owns the pharmaceutical company Boehringer Ingelheim, founded in 1885.
14. SC Johnson Family
Total family net worth (in billions): $37
SC Johnson and Son is a privately held manufacturer of household cleaning products that employs more than 13,000 people. The SC Johnson family owns the company, one of the oldest family-owned businesses in the country.
13. Ferrero family
Total family net worth (in billions): $37.1
The Ferrero family owns the Italian company Ferrero SpA, which is engaged in the production of chocolate and other confectionery products and is the second largest company in the world.
12. The Johnson Family (Fidelity)
Total family net worth (in billions): $40.2
Fidelity Investments has nearly $10 trillion in assets and is one of the world’s largest asset managers. The Johnson family owns the company, which was founded in 1946.
11. Albrecht family
Total family net worth (in billions): $41.4
Aldi is one of the most well-known grocery stores in Europe and now has more than 10,000 stores in at least 20 countries. It belongs to the Albrecht family. In 2020, family conflicts came to light after Nikolai Albrecht sued his mother and sisters for stealing money from the family trust.
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Disclosure: None. The 30 Richest Families in the World was originally published by Insider Monkey.