One thing that has been well established with human wealth is the fact that it is not at all evenly distributed.
In fact, the top 25 richest families in the world have a combined net worth of $1.7 trillion, which is more than the GDPs of 180 countries including Russia and Canada. This list does not include the families of first-generation billionaires.
So let’s take a look at the top 10 richest families of 2021
1. The Walton Family
The Walton family owns Walmart which is the largest retail store in the world. The store has the highest revenue generation with sales of more than $559 billion from more than 10,500 stores worldwide.
The Walton family owns 48% of the retailer’s stock which makes it the richest family in the world with a net worth of $238.2 billion.
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2. The Mars Family
The Mars family is the owner of the largest candy brand in the world with the same name. Today, the company is better known for making M&Ms and its eponymous Mars bar.
In 2017, the candy maker company diversified with the purchase of VCA, a pet care company, for $9.1 billion. Today the wealth of the Mars family stands at $141.9 billion. This makes the one of the richest families in the world.
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3. The Koch Family
The four brothers Frederick, Charles, David, and William inherited their father Fred Koch’s oil firm. Due to a family feud, Frederick and William left the family business while Charles and David stayed.
The duo then transformed the business into Koch Industries, a conglomerate with annual revenue of about $115 billion.
After the death of David, his widow Julia Koch and Charles own the majority of the stakes in the company that is worth $124.4 billion.
4. The Dumas Family
Thierry Hermès fashioned riding apparel for the aristocracy in the 19th century. Today the luxury fashion brand, Hermes is famous for its signature scarves, neckties, and perfumes, as well as its iconic Kelly and Birkin handbags.
The luxury fashion house is now owned by the sixth generation of the family with Axel Dumas as the CEO. The Dumas family’s net worth is $111.6 billion.
5. The Al Saud Family
The monarch of the Kingdom of Saudi Arabia is the richest Asian family in the world with a net worth of $100 billion. The monarchy should credit the nation’s unrivalled oil reserves for its wealth and fortune.
Crown Prince Mohammed bin Salman, who is the son of the seventh monarch of Saudi Arabia has an individual net worth of more than $1 billion.
6. The Ambani Family
Owners of the Indian Industrial giants, the Reliance Industries, Ambani family are one of the richest families in the world with a net worth of $93.7 billion.
The precursor of today’s Reliance Industries was started by Dhirubhai Ambani, father of Anil and Mukesh Ambani.
The CEO Mukesh Ambani is the 10th richest man in the world and looks after the petrochemical and oil and gas industries.
7. The Wertheimer Family
Alain and Gerard Wertheimer co-own the company Chanel that their grandfather founded with Gabrielle Coco Chanel in 1920s Paris.
The French high fashion house is credited for the introduction of ‘little black dress to the world. The family has a net worth of $61.8 billion which puts them in the seventh position on the list.
8. The Johnson Family
The mutual fund firm, Fidelity Investments, was founded by Edward C. Johnson II in 1946 in Boston and is the largest financial service firm in the world and provides investment services to millions of people.
The company is now run by Johnson’s granddaughter, Abigail. The family has a net worth of $61.2 billion.
9. The Thomson Family
Thomson family is Canada’s richest family with a net worth of $61.1 billion.
The company owns 320 million shares of Thomson Reuters a media and publishing empire founded Roy Thomson as an Ontario radio station in 1930s Canada. David Thomson, grandson of Roy currently serves as the chairman of the company.
10. Boehringer, Von Baumbach
The Boehringer/Von Baumbach Family is the 10th wealthiest family in the world with a combined net worth of $59.2 billion. The German pharmaceutical company, Boehringer Ingelheim was founded in 1885 by Albert Boehringer.
His son-in-law Erich Von Baumbach was appointed the chairperson in 1992. His son Hubertus von Baumbach currently serves as the CEO.
This list of ‘richest families of the world’ shows the rising global inequality of wealth in the world. That is why most of the developed countries have introduced an ‘inheritance tax’ for such families so that the disparities amongst the economic classes could be reduced.
Here’s a quick recap of the richest families in the world as of 2021 –
- The Walton Family
- The Mars Family
- The Koch Family
- The Dumas Family
- The Al Saud Family
- The Ambani Family
- The Wertheimer Family
- The Johnson Family
- The Thomson Family
- Boehringer, Von Baumbach
How many of these families did you expect to appear on this list of the richest families in the world? Leave a comment below.