10 Richest Families in the World
Written by
Caitlyn Moorhead
Edited by
Ashleigh Ray
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When your family’s fortune is more than many countries’ gross domestic products, there stands a chance that it places you within one of the richest families on the planet. Most of the world’s wealthiest families got that way because of the success of a company started decades ago by a distant relative.
Today, whether family members remain involved in the company or simply enjoy the fruits of previous generations’ labor, the one thing they all have in common is that they’re not just millionaires — they’re billionaires, many times over. Amassing more than just fame or a substantial combined net worth, these names have produced great fortunes. Here are the top 10.
1. Al Saud Family
- Company: Saudi royal family
- Net Worth: $1.4 trillion
The House of Saud — although technically not a company — corresponds to the Saudi royal family, a nearly century-old monarchy. Due to this fact, it is harder to estimate the family’s exact wealth and funds.
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.
2. Walton Family
- Company: Walmart
- Net Worth: $432.4 billion
Sam Walton and the Walton family know their way around some retail revenue. Their namesake, mega-retailer Walmart, has an estimated global revenue between $643 and $681 billion. As the family owns nearly half of the company, they should be quite comfortable for generations to come.
3. Al Nahyan Family
- Company: Abu Dhabi Royal Family
- Estimated Wealth: $323.9 billion
This family, also known as the “House of Nahyan,” made its substantial fortune by having family control over the oil supply in their country. Sheikh Mohammed bin Zayed Al Nahyan is the ruler of Abu Dhabi and the President of the United Arab Emirates, whose economy thrives on the oil reserves.
4. Al Thani Family
- Company: Royal Family of Qatar
- Estimated Wealth: $335 billion
As rulers of Qatar since the middle of the 19th century, this family reigned through its development into a major world power. Sheikh Hamad bin Khalifa Al Thani gained complete power of Qatar by deposing his father in a bloodless coup in 1995. The natural gas production in this country has skyrocketed its economic growth.
5. Hermès Family
- Company: Hermès
- Net Worth: $170.6 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. Koch Family
- Company: Koch Industries
- Net Worth: $148.5 billion
It is said there is money in oil, and if the Koch family is any indicator, this holds true. Not all families get along, and after fighting in the 1980s, the four brothers who owned the inherited oil firm whittled down to two brothers who ran the show.
Charles Koch is now the only brother remaining in the business, and it is estimated that Koch Industries generates an annual revenue of over $125 billion.
7. Mars Family
- Company: Mars
- Net Worth: $137.4 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.
8. Ambani Family
- Company: Reliance Industries
- Net Worth: $99.6 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.
9. Wertheimer Family
- Company: Chanel
- Net Worth: $88 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 bestselling staples as the No. 5 perfume and the famous little black dress.
10. Thomson Family
- Company: Thomson Reuters
- Net Worth: $73.7 billion
Not only is the Thomson family one of the richest families in the world, but it also 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 data and information provider that serves the legal, tax and accounting, and news/media industries.
Final Take To GO: How Generational Wealth Builds Dynasties
The bottom line is that 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 with their financial influence. For example, they might use their money and power to push public policy to their advantage, sequester wealth within family offices or create trusts to transfer wealth without incurring gift and estate tax.
With these last names, family members are carrying on more than just a legacy but also deep generational wealth. Simply put, the staggering riches enjoyed by the world’s richest families doesn’t happen by accident.
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