What Did the Rich Families Eat in Mesopotamia
These Are the World's Richest Families
Walton wealth soared during the pandemic in a banner yr for rich dynasties
Scarcely a twenty-four hours goes past without a stock sale hitting the market: $99 million 1 day, $146 million the side by side, almost $294 million last week alone.
The discrete offerings, frequently by Goldman Sachs Group Inc., are on behalf of the Waltons, the globe's richest family. In the past 7 months they've liquidated $half dozen billion of Walmart Inc. stock — an amount more than than double the value of special bonuses Walmart paid its one.v million U.S. workers last twelvemonth for recognition of their contributions during Covid.
And yet, it's barely made a paring in their holdings. The descendants of Sam Walton still control ane,334,480,250 shares of Walmart directly and through family trusts, while their fortune, largely tied to their stake in the world's largest retailer, has increased by $23 billion over the by year because of the rising stock price.
Walmart's success has kept the family from Arkansas — now in its 3rd generation — wealthier than Jeff Bezos and Elon Musk, the two mega-billionaires of our era, and almost $100 billion alee of the world's second-richest dynasty, the Mars association, according to the Bloomberg Billionaires Alphabetize.
The two families were among the biggest winners in the past year as governments and central banks flooded economies with cash, fueling a blast in due east-commerce, comfort food and spending on pets. But they were far from alone. Every bit the pandemic reshaped the way we alive and work, the 25 wealthiest families on the planet added $312 billion to their collective fortunes, a 22% gain since final Baronial.
"Its been the perfect storm for dynastic wealth accumulation," said Bob Lord, an Arizona-based revenue enhancement chaser and consultant for Americans for Tax Fairness.
Those ranked on the Bloomberg list represent multiple industries and geographies. The Johnsons of Boston-based Fidelity Investments were lifted by the surge in online trading. Asia'south richest family, the Ambanis, benefited from a pivot to greenish and digital, while the world'southward biggest luxury fortunes, whose futures looked fraught at the depths of the health crisis, rose most of all. The family backside Paris-based Hermes soared 75% to $112 billion. The Lauders of Estee Lauder debuted on the ranking.
The listing excludes beginning-generation billionaires and isn't definitive — some families' fortunes, such every bit the Rockefellers', are so diffuse it's hard to rails their assets.
Lord doesn't run into much of a surprise in the gains given years of policies designed to benefit the very elevation echelons of wealth. At the eye of that is taxation policy that'due south permitted the 0.001% to pay "absurdly" low income tax rates, allowed for giant loopholes in inheritance taxes and enabled a steady pass up in corporate rates, he said.
Backlash confronting widening inequality isn't new. Simply every bit the pandemic deepened the gulf, it's triggered a cascade of efforts from Beijing to Washington to tax the uber-rich, targeting large companies, investment income and inherited wealth.
In the U.S., President Biden and congressional Democrats have proposed a variety of ways to target the rich, including higher majuscule gains and income taxation rates and new rules that would make information technology difficult to pass on assets to heirs tax-free.
That'south already spurring families to have action. The Mills family of Chicago sold Medline, their medical business organisation, to individual equity firms for more than $xxx billion, in part to get ahead of more punitive rates as well as provide liquidity to family unit members. A Walmart spokesman said the Waltons' disposals are part of an effort to keep the family unit's ownership pct stable amongst stock buybacks, and wouldn't say whether taxes are a motivation. Some of the proceeds will work their way to the family's philanthropic foundation.
Likewise, it'due south not clear that the Democrats volition achieve their objectives in a fiercely divided congress. Some of America'due south richest families — the Kochs in particular — have been on the frontline of defending tax breaks for decades, lobbying for provisions they currently enjoy. The Mars family is part of a group that'south spent millions since 2012 lobbying for manor and gift-tax reform, according to Senate disclosures.
The bear on of higher inheritance taxes could significantly reshape many of these fortunes. Accept the Lees of Samsung. The Southward Korean clan dropped off this year'south ranking after paying an $11 billion inheritance taxation post-obit last year'due south death of patriarch Lee Kun-hee.
The Lees however are an exception. While Due south Korea has among the highest inheritance taxes in the earth, in that location's a multiplicity of means wealthy families can sidestep levies. In France, inheritances are taxed up to 45% and still the state boasts iv families ranked among the world'due south richest, more than any nation also the U.S.
The question mark over time to come tax policy has been a chief challenge for wealthy families this year, at to the lowest degree in the U.S., according to Karen Harding, head of the private wealth group at Boston-based NEPC.
"When you lot think about significant wealth, the tax piece is massive. If you construction things right or structure things wrong, it can dominate what the ultimate issue is," she said.
These families "can plan for anything, they just demand to know what it is."
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1
Name Walton
Company Walmart
Wealth $238.2bn
Manufacture Consumer retail
Location Bentonville, Arkansas
Generations 3
Walmart is the world's largest retailer by acquirement, with sales of $559 billion from more than than 10,500 stores worldwide. The Walton family unit owns 48% of the retailer, a stake that's the foundation of the globe's largest fortune.
Did you know?
Walton family members accept sold $6 billion worth of shares this yr.
Timeline
1945: Sam Walton buys his first store.
1992: Son Rob becomes chairman afterward father Sam's decease.
2020: Company issues $ii.eight billion in special bonuses to U.S. workers for efforts during the pandemic.
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two
Name Mars
Visitor Mars
Wealth $141.9bn
Manufacture Confectionery, pet care
Location McLean, Virginia
Generations five
Frank Mars began selling molasses candies in 1902 at the age of nineteen. The business concern he went on to create is all-time known for Grand&Ms, Milky Way and Snickers bars, though pet-care products make up about half of the visitor's $39.two billion in revenue. The closely held business is owned by members of the Mars family.
Did you know?
Mars pays relatively little in dividends compared to peers, choosing instead to reinvest in the business according to a March 2021 Moody's credit stance.
Timeline
1883: Frank Mars is born. He contracts polio as a young male child and is unable to walk to school.
1932: Forrest E. Mars Sr. moves to the U.K.
1963: Mars opens a chocolate manufacturing plant in the Netherlands.
2001: John and Jacqueline Mars retire from the company.
2020: Two Mars family unit members file conform to challenge an IRS estate tax ruling.
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three
Name Koch
Visitor Koch Industries
Wealth $124.4bn
Manufacture Industrial
Location Wichita, Kansas
Generations iii
Brothers Frederick, Charles, David and William inherited begetter Fred'southward oil firm. A fraternal feud over control of the company in the early 1980s led Frederick and William to exit the family business concern while Charles and David stayed. It has since grown into Koch Industries, a conglomerate with almanac revenue of well-nigh $115 billion. The family manages a portion of its wealth through family role 1888 Management.
Did you know?
Leap Creek Capital, an nugget-management arm of Koch Industries, invested in more 250 special purpose acquisition companies in 2021.
Timeline
1940: Fred Koch co-founds the Woods River Oil & Refining Co.
1961: Charles Koch joins his father Fred at the company.
2017: Koch Industries starts venture capital arm, Koch Disruptive Technologies, led by Charles Koch'due south son Chase.
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4
Name Hermes
Visitor Hermes
Wealth $111.6bn
Industry Luxury appurtenances
Location Paris
Generations 6
The sixth-generation family owns the French luxury fashion company famous for its Birkin handbags which tin can encounter the hundreds of thousands of dollars. Among the family unit members who maintain senior positions at the company are Pierre-Alexis Dumas, the creative director, and Axel Dumas.
Did you know?
Revenue at the company'southward lookout division most doubled in the first quarter from a year earlier.
Timeline
1837: Thierry Hermes starts to make riding gear for noblemen.
1880: Business moves to 24 Faubourg Saint-Honore, Paris.
1902: Grandsons Emile Maurice Hermes and Adolphe Hermes go articulation presidents of the company.
1950s: Emile's sons-in-law, Robert Dumas and Jean-Rene Guerrand, diversify operations.
1978: Jean-Louis Dumas establishes global network of stores.
2014: Axel Dumas becomes chief executive officer.
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5
Proper noun Al Saud
Company N/A
Wealth $100bn
Industry Industrial
Location Riyadh, Saudi Arabia
Generations iii
The 89-twelvemonth-onetime monarchy for which Saudi Arabia is named can credit the nation'due south unrivaled oil reserves for seeding its collective fortune. This net worth estimate is based on cumulative payouts imperial family members are calculated to take received over the by 50 years from the Royal Diwan, the executive office of the king. The total wealth controlled by its estimated 15,000 extended members is probable much college. Many royals have made money through brokering government contracts and land deals and by founding businesses that service state companies, such as Saudi Aramco. Crown Prince Mohammed bin Salman, son of Saudi's seventh monarch, King Salman, personally controls assets worth more than than $1 billion.
Did you know?
Saudi royal Prince Alwaleed sold function of his stake in the Four Seasons hotel chain to Bill Gates's Cascade investment vehicle for $two.ii billion in September.
Timeline
1902: Ibn Saud, founder of modern Saudi Arabia, reclaims his ancestral domicile of Riyadh, kick off three decades of territorial conquests.
1975: Rex Faisal is assassinated by his nephew.
2019: Saudi Aramco goes public after revealing itself as world'south most profitable company.
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half-dozen
Proper noun Ambani
Visitor Reliance Industries
Wealth $93.7bn
Industry Industrial
Location Bombay
Generations three
Dhirubhai Ambani, the father of Mukesh and Anil, started edifice the precursor to Reliance Industries in the 1950s. When Dhirubhai died in 2002 without leaving a will, his widow brokered a settlement between her sons over control of the family fortune. Mukesh is at present at the helm of the Mumbai-based conglomerate, which owns the earth's largest oil refining complex. He lives in a 27-story mansion that's been chosen the world'south nigh expensive private residence.
Did you know?
Mukesh Ambani'southward Reliance Industries raised $27 billion from KKR, Argent Lake and others last yr to help speed its shift from free energy to tech.
Timeline
1957: Dhirubhai Ambani returns to India from Yemen, and starts a yarn trading business out of a small-scale office in Mumbai.
1977: Mukesh joins the board of Reliance.
2019: Anil spared jail time after Mukesh steps in to settle his overdue payment. Anil bug statement maxim he's "deeply grateful."
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7
Name Wertheimer
Company Chanel
Wealth $61.8bn
Manufacture Luxury goods
Location Paris
Generations 3
Brothers Alain and Gerard Wertheimer are reaping the benefits of their grandfather's funding of designer Coco Chanel in 1920s Paris. Their family owns the closely held manner house, which introduced the "fiddling black apparel" to the world and had revenue of $10.1 billion in 2020. The Wertheimers as well own racehorses and vineyards. Their half-brother, Charles Heilbronn, runs family office Mousse Partners.
Did you know?
Chanel paid the family $1.vii billion in dividends in 2019. Terminal year it paid zero.
Timeline
1924: Businessman Pierre Wertheimer negotiates a perfume contract with fashionista Gabrielle "Coco" Chanel.
1983: German language designer Karl Lagerfeld joins Chanel every bit creative director.
2020: Chanel reports an xviii% slump in revenue due to the pandemic.
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8
Name Johnson (Allegiance)
Visitor Fidelity Investments
Wealth $61.2bn
Manufacture Finance
Location Boston
Generations 3
The Boston mutual-fund empire was founded by Edward C. Johnson 2 in Boston in 1946. It is now run by his granddaughter, Abigail. The closely held firm has responded to the shift abroad from actively-managed funds in favor of depression-cost index funds by launching zero-expense ratio funds and building a digital asset arm. The Johnsons' family office, Crosby, is based in New Hampshire.
Did you know?
Fidelity announced plans in August to rent nine,000 new workers in the U.Due south. by the end of year amid a surge in stock trading.
Timeline
1946: Boston-based lawyer Edward C. Johnson II founds the Fidelity Management and Inquiry Company
1977: Ned Johnson becomes CEO.
2018: Abigail Johnson spearheads Fidelity's button into cryptocurrencies with launch of Fidelity Digital Avails.
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9
Name Thomson
Company Thomson Reuters
Wealth $61.1bn
Manufacture Media
Location Toronto, Canada
Generations three
The wealth of Canada'southward richest family originated in the early on 1930s when Roy Thomson opened an Ontario radio station. He branched out into newspapers and became the country's leading owner. The family holds about a two-thirds pale in fiscal data and services provider Thomson Reuters through investment house Woodbridge. The company had $six billion of acquirement last twelvemonth.
Did you know?
Roy wrote in his 1975 memoir he ready trusts ensuring family control of the business for 80 years "and then that death duties will not tear information technology autonomously."
Timeline
1934: Roy Thomson buys his first newspaper, the Timmins Press.
1976: Roy's son Ken becomes chairman of the family unit business organization interests afterward Roy dies.
2018: Thomson Reuters sells a majority stake in its financial and take chances unit to Blackstone.
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ten
Proper name Boehringer, Von Baumbach
Visitor Boehringer Ingelheim
Wealth $59.2bn
Industry Pharmaceuticals
Location Ingelheim am Rhein, Germany
Generations 4
The German language drugmaker Boehringer Ingelheim was founded in 1885 by Albert Boehringer. More than than 130 years later, the Boehringer family, encompassing the von Baumbachs, is still in charge. Chairman Hubertus von Baumbach and his extended family are owners of the closely held company. They invest in private disinterestedness through family office Profunda.
Did you lot know?
The company's Blazon 2 diabetes drug Jardiance is its top seller. It generated $2.ix billion in revenue in 2020.
Timeline
1885: Albert Boehringer buys a small-scale tartar mill in Germany.
1939: Albert Boehringer dies.
1992: Erich von Baumbach, son-in-police force of Albert Boehringer Jr., is appointed chair of shareholders' commission.
2015: The company appoints a family member, Hubertus von Baumbach, as CEO for the first time in 25 years.
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xi
Proper name Cargill, MacMillan
Visitor Cargill
Wealth $51.6bn
Industry Industrial
Location Minneapolis
Generations 6
Members of this family unit are bulk owners of Cargill, a food and agriculture visitor that had revenue of $134 billion in the 12 months ending in May. It was founded past William W. Cargill, who started the bolt business concern with one grain storage warehouse in Conover, Iowa, in 1865. His descendants maintain control of the industrial giant. Both branches share a family office, Waycrosse.
Did you know?
The company had its highest-ever turn a profit of $4.9 billion in fiscal 2021.
Timeline
1865: William W. Cargill becomes the owner of a grain warehouse.
1884: John H. MacMillan starts working in his father'southward bank in Wisconsin.
1932: John MacMillan Jr. becomes general manager as his father experiences wellness issues.
1960: Erwin Kelm becomes the offset Cargill president who is non a family member.
1980: Cargill enters the coffee-trading business organisation.
2015: Cargill spins off investment firm Black River Asset Management into three dissever companies.
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12
Proper name Albrecht
Company Aldi
Wealth $51bn
Industry Consumer retail
Location Essen and Muelheim, Deutschland
Generations 3
Brothers Theo and Karl Albrecht took over their parents' grocery store later on returning domicile from World State of war II and turned information technology into Aldi, a national chain of discount supermarkets. The brothers divided the business in the 1960s. The two branches – Aldi Nord and Aldi Sued – now have more 10,000 stores combined. Theo's side of the family also owns Trader Joe's, which information technology bought in 1979.
Did you know?
Aldi Nord is controlled past three trusts, fix by Theo Sr. to ensure long-term family control.
Timeline
1913: Albrecht grocery store opens in Essen, Deutschland,
1971: Theo Albrecht kidnapped for 17 days and $2 million is paid for his release.
2014: Karl Albrecht dies, passing command of Aldi Sued to his two children.
thirteen
Name Lauder
Company Estee Lauder
Wealth $49.3bn
Manufacture Cosmetics
Location New York
Generations iii
Raised in Queens to Hungarian-Czech immigrants, Estée Lauder began selling skin intendance and makeup products in New York dazzler salons. In 1946 she and her hubby Joseph launched a visitor to sell her own skin creams, and after 1 year received an club for $800 worth of products from Saks Fifth Avenue. Today Estee Lauder sells skin care, pilus products, fragrance and cosmetics throughout the world. However controlled by members of the family, information technology had revenue of $16.2 billion in fiscal 2021. RSL Investments is the investment office of 2nd-generation member, Ronald.
Did you lot know?
The Chest Cancer Research Foundation, founded past Leonard's late wife, Evelyn, has raised $1 billion since its inception in 1993.
Timeline
1946: Estee Lauder develops her ain dazzler line, starting with iv products.
1958: Following service at sea as a naval officer, Leonard Lauder joins his mother's visitor.
2010: William Lauder steps down as CEO of Estee Lauder. Non-family member Fabrizio Freda takes over.
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14
Name Hoffmann, Oeri
Company Roche
Wealth $47.3bn
Manufacture Pharmaceuticals
Location Basel, Switzerland
Generations 5
Drug maker Roche Holding was founded past entrepreneur Fritz Hoffmann-La Roche in 1896. His descendants control 9% of the company, whose blockbuster oncology drugs helped the group generate $62 billion in 2020 revenue. Family unit members accept been prominent supporters of nature conservation.
Did yous know?
The family shareholder pool received more than $700 million in dividends from Roche in 2020.
Timeline
1896: Fritz Hoffmann-La Roche launches a medicine company at 28.
1932: Fritz Hoffmann'southward son Emanuel dies in a traffic accident.
1961: Lukas Hoffmann co-founds Earth Wildlife Fund.
1996: Andre Hoffmann joins the board of Roche.
2019: Vii members of the fifth generation bring together the family unit'due south shareholder pool.
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xv
Proper noun Mulliez
Company Auchan
Wealth $45.9bn
Industry Consumer retail
Location Lille, France
Generations 4
The Mulliez family had already built a retail empire by the time Gerard Mulliez started Auchan, known as France's Walmart, in 1961. Auchan has grown into one of Europe's biggest supermarket chains. The family holding company, Association Familiale Mulliez, controls a various group of retail businesses, including habitation-comeback chain Leroy Merlin. Their family office, Creadev, focuses on entrepreneurs trying to increase access to essential appurtenances and services.
Did you know?
Creadev allocates nearly $236 meg to invest every year.
Timeline
1931: Gerard Mulliez is built-in into a family that runs a article of clothing company.
1961: Mulliez opens the first Auchan shop in France.
1998: Auchan expands into Hungary.
2020: China'southward Alibaba pays $3.6 billion to accept control of a Chinese hypermarket operator from the Mulliez family.
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16
Name Quandt
Company BMW
Wealth $42.3bn
Manufacture Automotive
Location Munich
Generations 4
Herbert Quandt helped plow Bayerische Motoren Werke from a struggling carmaker into one of the world's largest manufacturers of luxury vehicles. Family unit matriarch Johanna Quandt died in 2015 and her children, Stefan Quandt and Susanne Klatten, own nearly one-half the company.
Did you know?
BMW's first quarter revenue rose 22% from a year earlier.
Timeline
1883: Emil Quandt acquires a textile company owned past his late male parent-in-law.
1933: Guenther Quandt joins the Nazi Party.
1995: An overhaul of insider trading laws forces the family to disembalm it owns well-nigh half of BMW.
2015: Johanna Quandt, Herbert's widow, dies.
17
Name Dassault
Company Dassault Systemes
Wealth $41.9bn
Industry Software, Aviation
Location Paris
Generations iii
Built-in in Paris in 1892, Marcel Dassault invented a blazon of aircraft propeller during Globe War I that was used by the French war machine. By the 1960s Marcel's company, Dassault Aviation, was shipping planes overseas, eventually becoming best known for its Mirage and Rafale fighter jets. The family unit-controlled Dassault Grouping today also includes software, media and real manor businesses. Its about valuable company is Dassault Systemes, a applied science company with more than $5 billion in revenue that provides 3D surface modeling of wind tunnels and other structures. The family invests in venture, real estate, private debt and other assets through family unit office Groupe Industriel Marcel Dassault.
Did yous know?
Dassault comes from the French word for "assail," and was the allonym for Marcel'southward brother, a resistance fighter in World War II.
Timeline
1928: Marcel Dassault sets up plane manufacturing visitor Société des Avions Marcel Bloch, which he afterward renames Dassault Aviation.
1986: Marcel Dassault dies. His son Serge takes over as chief executive of Dassault Grouping.
2018: Serge Dassault dies at 93, passing command of Dassault Group to his four children.
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18
Name Newhouse
Visitor Advance Publications
Wealth $41.6bn
Industry Media
Location New York
Generations 3
Samuel Irving Newhouse founded Advance in 1922. He built up a portfolio of newspapers, magazines, cablevision television and radio stations that sons Samuel and Donald somewhen ran. In recent years the group has sought to diversify, and purchases have included the Ironman race series. A family-owned fund, Advance Venture Partners, invests in software, commerce and media sectors.
Did you know?
Advance bought Reddit in 2006 for reportedly between $10 and $xx million. They're still 1 of the largest shareholders of the site, which was recently valued at $x billion.
Timeline
1922: Due south.I. Newhouse establishes Advance Publications.
1998: Volume publisher Random House sold to Bertelsmann.
2019: Conde Nast appoints Jonathan Newhouse as chairman of its lath.
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19
Proper noun Van Damme, De Spoelberch, De Mevius
Visitor Anheuser-Busch InBev
Wealth $40.2bn
Industry Beverages
Location Leuven, Belgium
Generations 5
The collective enterprise of these three Belgian beermaking families has roots in the 14th century. The Van Damme family joined the others when the 1987 merger betwixt Piedboeuf and Artois led to the creation of Interbrew, which merged with Brazil'due south AmBev in 2004.
Did you know?
The De Spoelberch and De Mevius families founded investment business firm Verlinvest, a major shareholder in Oatly.
Timeline
1895: Edmond Willems, owner of the Artois brewery, dies.
1926: Stella Artois is released as a Christmas beer.
1968: Artois takes over the Dommelsch Brewery.
1987: The Artois and Piedboeuf breweries merge.
2016: AB InBev merges with SABMiller.
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twenty
Name Cox
Visitor Cox Enterprises
Wealth $38.6bn
Manufacture Communications, automotive
Location Atlanta
Generations iv
The Cox family controls Cox Enterprises, a conglomerate with nearly $20 billion in revenue. Its Cox Communications division is one of the largest cable companies in the U.Due south. James M. Cox founded the company in 1898. His descendants, including James C. Kennedy and Blair Parry-Okeden, remain shareholders. The family invests outside the company'south cadre areas of autos and communications through the Cox Family Role.
Did you know?
Cox has invested more than $i billion in cleantech. It recently bought indoor farming company BrightFarms.
Timeline
1898: James Thousand. Cox, 28, borrows $26,000 from friends and family to purchase the Dayton Evening News in Ohio.
1957: Jim Cox Jr. takes over the company after his father's death.
1988: Jim Kennedy, grandson of founder James Cox, is promoted to CEO and chairman.
2018: Alex Taylor takes accuse of Cox Enterprises.
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21
Proper name Rausing
Company Tetra Laval
Wealth $35.9bn
Manufacture Packaging
Location London
Generations 3
The family unit's wealth originated with the drink cartons pioneered past Ruben Rausing in Sweden in the 1950s. Descendants of Ruben'southward son Gad command closely held Tetra Laval, one of the world's biggest packaging companies. Another son of Ruben's, Hans, sold his stake in the business organization to Gad in 1995 and later invested in eco-friendly packaging and equities through London-based family office, Alta Advisers.
Did you know?
Tetra Laval's dairy-equipment business, DeLaval, was the only division that saw an increase in sales last year, on ascent demand for automatic milking machines.
Timeline
1929: Ruben Rausing becomes a partner in a packaging visitor.
1995: Hans Rausing sells his 50% stake in the business concern to brother Gad.
2019: Hans Rausing dies.
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22
Name Kwok
Company Lord's day Hung Kai Properties
Wealth $35.6bn
Industry Existent Estate
Location Hong Kong
Generations 3
Kwok Tak-seng co-founded the predecessor to real estate company Sun Hung Kai Properties in 1963, going on to buy up lots of land in an optimistic bet on the metropolis's future development. It went public in 1972. The company has since go i of Hong Kong'due south largest property developers and the ground of the Kwok family fortune. His sons, Walter, Thomas and Raymond, assumed control when he died in 1990.
Did you lot know?
The visitor reported $3.7 billion in contracted sales for its residential properties in the fiscal 2021 year.
Timeline
1972: Kwok Tak-seng, a grocery wholesaler, incorporates Sun Hung Kai Properties.
2018: Walter Kwok dies, a decade later he was ousted as chairman in a feud with his brothers.
2020: Thomas Kwok re-joins family unit visitor as a senior director at a subsidiary after serving prison sentence for a bribery case.
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23
Proper name Pritzker
Company Hyatt Hotels
Wealth $35.3bn
Industry Hotels
Location Chicago
Generations four
The son of a Ukrainian immigrant, A.N. Pritzker began investing in real manor and troubled companies while working for his father's law firm. The investments seeded the fortune of 1 of America'due south oldest dynasties, whose avails include Hyatt Hotels. Family members are prominent Democrats, with Penny Pritzker serving as U.Due south. commerce secretary nether President Barack Obama. Family-owned investment vehicles include Pritzker Organization and Pritzker Individual Capital.
Did you know?
The family sold 60% of industrial conglomerate Marmon to Berkshire Hathaway for $four.five billion in 2007.
Timeline
1903: Ukrainian Jewish immigrant Nicholas Pritzker establishes the police firm Pritzker & Pritzker.
1936: A.North. Pritzker and blood brother Jack branch out from law and start investing in real manor.
1957: Nicholas's grandsons Jay and Donald Pritzker create the Hyatt Hotels chain.
2019: J.B. Pritzker, a Democrat, becomes governor of Illinois.
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24
Name Ferrero
Company Ferrero
Wealth $34.5bn
Manufacture Confectionery
Location Alba, Italian republic
Generations three
Michele Ferrero congenital a global chocolate confectionery company from a unmarried store in the small-scale Italian boondocks of Alba. His son Giovanni took sole charge of the family unit business organisation later his blood brother Pietro died in a cycling blow in 2011. Ferrero acquired Nestle's U.South. candy business for $ii.eight billion in 2018. The family manages money through their firms including Monaco-based Fedesa and Luxembourg-based Teseo Capital.
Did you know?
Newer products similar Nutella biscuits boosted the visitor'south net sales to $fourteen.6 billion in financial 2020.
Timeline
1946: Pietro Ferrero creates a sugariness paste from hazelnuts, saccharide and cocoa in war-ravaged Italia.
1964: First jar of Nutella is produced.
2020: Visitor acquires U.Thousand. granola-bar maker Eat Natural, in nod to healthier snack trend.
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25
Name Johnson (SC)
Visitor SC Johnson
Wealth $33.8bn
Industry Household appurtenances
Location Racine, Wisconsin
Generations 5
5 generations of the Johnson family have built SC Johnson into a household-goods empire. Samuel C. Johnson began selling parquet floor in 1882, a merchandise that became the foundation for SC Johnson. Fisk Johnson is the company'due south chairman and chief executive. Its brands include Mr. Musculus, Raid and Windex. Johnson Keland Management is the name of their family unit office.
Did you lot know?
The family has a long history of collecting American art. Frank Lloyd Wright designed SC Johnson'due south administration building.
Timeline
1886: Samuel C. Johnson starts touring the countryside, selling flooring.
1906: Herbert F. Johnson Sr. becomes a partner.
1928: Herbert F. Johnson Jr. inherits the company at age 28, after his father's decease.
1955: Samuel C. Johnson, groovy-grandson of the founder, becomes head of the new products partition.
2004: Fisk Johnson becomes CEO.
Methodology
Net worth figures are as of September 10, 2021. The ranking excludes beginning-generation fortunes and those fortunes controlled past a single heir. Clans whose source of wealth is too lengthened or opaque to exist valued are also excluded.
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Source: https://www.bloomberg.com/features/worlds-richest-families-2021/
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