Wow! The Richest Family In The World

  • The richest family in the world is the Walton Family. The family is worth $191.5 billion. And is also the richest non-royal family in the world.
  • Walmart was founded in 1962 by Sam and Bud Walton (two brothers). It is now the world’s largest retailer by revenue with annual sales of $500 billion from its nearly 12,000 stores worldwide. 

By now we all know that few of the worlds inhabitants fall into the category of the super rich. People who make millions with each passing day as if it is as simple as drinking water.

People born and raised in great wealth. Who spend the rest of their lives upgrading their financial purse, that is then inherited by the next generation and the next that come after.

That is what this post is all about. It is about those rich families in the world with the common sense to establish brands that are making money for them even while they sleep.

I believed it is important that stories like this one are taken as solid examples. From which families the world over can learn from, that there is nothing like a family business that is properly cultivated.

I see no reason why a family just can’t set up a family business that employs and empowers the family members. It is completely wrong to build a family and have the unit depend on someone or something else for survival.

People should stop looking at the family structure as one that is created for making babies. What about their sustenance?

A family is one structure that can easily be configured into a money making machine and this is what this article is all about. To show us families in the world with a business brand that has endured with the family purse and will continue to do just that.

But this is a different story altogether from that of the richest woman in Africa, who according to reports was able to attain that financial height due to her fathers power and influence as a ruler of her country for decades. Which according to the report was nothing short of corruption and kleptocracy.

This article on the richest family in the world is about entrepreneurship and inherited financial legacy that is indeed worth our admiration.

The Richest Family In The World

The Richest Family In The World

1. Walton Family – $191.5bn 

The richest family in the world is the Walton Family. They are the owners of Walmart retailers. Making them the richest family in America as well. The family is worth $191.5 billion. [0]

Walmart an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, headquartered in Bentonville, Arkansas

Walmart was founded in 1962 by Sam and Bud Walton (two brothers). It is now the world’s largest retailer by revenue with annual sales of $500 billion from its nearly 12,000 stores worldwide. 

As of April 30, 2020, Walmart has 11,484 stores and clubs in 27 countries, operating under 56 different names.

His descendants have a combined wealth of $163.2 billion. Which is more than Jeff Bezos, Bill Gates, and Warren Buffett, and nearly $70 billion more than the second-richest family in the United States, the Mars Family

The Walton family fortune is broken down as such:

  • Jim Walton $58.8 billion
  • Alice Walton $54.4 billion
  • S. Robson Walton $55.0 billion
  • Lukas Walton $19.0 billion
  • Christy Walton $8.81 billion
  • Ann Walton Kroenke $5.24 billion
  • Nancy Walton Laurie $5.92 billion

The Walton family own 50% of Walmart’s total stock between them. 

The three children of Walmart founder Sam Walton co-own Walton Enterprises, which is the biggest shareholder of the company and the reason behind their wealth. 1

It is also the largest private employer in the world with 2.2 million employees.

Walmart was listed on the New York Stock Exchange in 1972. By 1988, it was the most profitable retailer in the U.S., becoming the largest in terms of revenue by October 1989

Walmart was the largest U.S. grocery retailer in 2019, and 65 percent of Walmart’s US$ 510.329 billion sales came from U.S. operations alone.

It is said that the brothers borrowed money to build the first Walmart store in Rogers, Arkansas. [2]

2. Mars Family – $126.5bn

The Richest Family In The World

The second family on our list of the richest family in the world is The Mars family who are owners and heirs of the Mars Inc, maker of Snickers, Mars Bars, Milky Way Bars, Twix, M&M’s, among others.

They have been known to keep the company “notoriously private” and their headquarters have been called “anonymous”. But what we do know is that the chocolate empire was built by its founder Frank Mars who learnt to hand-dip chocolates at a young age.

In 1911, he would go on to start selling chocolate from his kitchen in Tacoma, Washington. It is said that more than 400 million M&Ms are produced in the US every day.

In 2008, Mars Inc branched out from chocolate to gum when it acquired the Wrigley Jr Company for $US23 billion, and it bought Iams and two other pet food brands in 2014 from Procter & Gamble for close to $US2.9 billion. [3]

Mars Inc acquired Uncle Ben’s rice as part of its assets  and also owns pet food brands Pedigree and Whiskas. [4]

3. Koch Family $124.5bn

The third family on our list is also from America. Which means that America is home to the top three richest families in the world and when you also look at the richest men and women in the world, the US comes first.

The koch industries is a multinational corporation with subsidiaries involved in the manufacturing, refining, and distribution of petroleum, chemicals, energy, fiber, intermediates and polymers, minerals, fertilizers, pulp and paper, chemical technology equipment, ranching, finance, commodities trading, and investing. [5]

The biggest non-Canadian lease holder in the northern Alberta oil sands is a subsidiary of Koch Industries. The Koch Industries subsidiary holds leases on 1.1 million acres — an area nearly the size of Delaware — in the oil sands region of Alberta, Canada, with Conoco Phillips and Shell, both close behind. [6]

The company was founded in 1940 by  Fred C. Koch who joined  partners in 1940 to create the Wood River Oil and Refining Company, which later became known as Koch Industries. When he died in 1967 his majority interests   was divided amongst his four sons.

But that changed when the stakes of Frederick R. Koch and William “Bill” Koch were bought out for $1.1 billion, making Charles Koch and David Koch majority owners in the company.[7]

Charles now owns 42% of the company while the heirs of David Koch who died on August 23, 2019 own the balance, 42%, of the corporation.

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