A lot of media houses and magazines, publish a list of the wealthiest families in the world, on a regular basis. The Covid-19 pandemic has resulted in a sharp decline in wealth for some families, while others have added immense wealth due to rise the share price of the stocks of their respective companies.
Presented below is a list of the top 5 wealthiest families in the world as of November 2020. This list does not include royal families, like the Saudi Royal family which is one of the wealthiest in the world, or autocratic rulers of countries.
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Top 5 Wealthiest Families in History
The Walton family is the owner of Wal-Mart retail chain of stores and Sam’s Club. It is the wealthiest family in the world and the richest in the US. It has remained the wealthiest family for a long time. As of 2020, the family has a net worth of about $215 billion.
The family owns just under 50 percent of Walmart shares. Walmart is the largest retailer and the largest private employer in the world. It also has one of the largest annual revenues for any company in the world. The company was founded by Sam and Bud Walton and the current family has inherited their fortune.
Alice Walton is the richest in the family with a net worth of $70.4 billion, while Jim Walton and S. Robson Walton have a net worth of $70.1 billion and $69.8 billion respectively. Since 2001, these three have regularly featured in the top 20 of the Forbes 400 ‘richest’ list. Others in the family include Lukas Walton, Ann Walton Kroenke, Nancy Walton Laurie, and Christy Walton.
In 2020, the Mars family climbed up one step to cement the position of the second wealthiest family in the world. Before the Waltons, it was the richest in the US and the world. The family’s current net worth is around $120 billion.
The Mars family is owner of Mars, Inc., the confectionary company. After the demise of Forrest Mars Sr., his 3 sons inherited the family fortune and have regularly featured in the Forbes richest list. Forrest Mars Jr. passed away in 2016 and his wealth was subsequently inherited by his 4 daughters, three of whom currently work in the company.
The Mars family is very private and is rarely seen or photographed, with the exceptions being Victoria B. Mars and Jacqueline Mars. It is also one of the billionaire families that had lobbied the US Congress for elimination of the estate tax.
The Koch family was the second richest family in 2019 and has been displaced to the third position in 2020. The family owns Koch Industries which has generated annual revenues of over $100 billion in the past. The company is the second largest privately owned company in the US.
The company was founded by chemical engineer Fred C. Koch. After his death, his 4 sons litigated for over two decades to get control of the company. Charles G. Koch and David H. Koch, known as the Koch brothers, finally became Chairman of board and CEO and Executive VP, respectively, at the company. David passed away in 2019. Currently, only Charles and William Koch (a businessman, collector, and sailor) are alive.
The current net worth of the family is estimated to be $109.7 billion. The Koch brothers are known for their political activities, including multimedia and TV advertisements and financial aid to Republican and libertarian causes.
The Arnault family, based in France, is a recent entrant into the wealthiest families list. The net worth of this family was about $142.5 billion in November 2020, but it tends to fluctuate between $100 billion and $140 billion. Hence it is fourth in this list of the wealthiest families in the world.
The Arnault family comprises of Bernard Arnault, Delphine Arnault, and Antoine Arnault. Bernard is the chief executive and chairman of LVMH Moët Hennessy – Louis Vuitton SE, the largest company of luxury goods in the world.
Bernard became the wealthiest man in fashion in 2018. He became the richest person in the world for a short period in December 2019 and January 2020. Besides being a businessman, he is also an avid collector of art.
The Ambani family is the wealthiest family in Asia and India. Mukesh Ambani is the richest person in India and regularly features in the Forbes Top 50 global rich list.
The family is the owner of Reliance Industries founded by Dhirubhai Ambani. After Dhirubhai passed away, the company was divided and shared between his two sons Mukesh and Anil Ambani. Anil was one of the richest people in India, but his wealth has declined over the years due to loss of market value of his companies. He is still a billionaire though.
Mukesh Ambani grew his company and diversified into Reliance Retail, Reliance Jio Infocomm, and other sectors. He recently made a multi-billion dollar deal with Aramco for his petroleum business. The net worth of the Mukesh Ambani family is around $85.4 billion. The members of this family are Nita Ambani (Mukesh Ambani’s wife), and their children Akash, Isha, and Anant Ambani. The family lives in a multi-storied house worth over $1 billion in Mumbai, India.
Note:
The Slim family from Mexico and the US and the Ortega family from Spain have regularly featured in the wealthiest families in the world list in the previous years. Depending on an increase in the market value of their stock holdings, they may once again make the list in the future. As of 2020, the net worth of the Ortega family is around $74 billion, while that of the Slim family is about $69 billion.
List of Wealthiest Families in History (Video)
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