Top 10 Richest Families In the World 2020

Top 10 richest families in the world and their businesses
Top 10 richest families in the world and their businesses

Let’s find out in this article the top 10 richest families in the world. Who are these people?

These are individuals with a huge amount of wealth in multi-million and billions of United States dollars.

This wealth could have come about through a successful business built from scratch or through big-time investments.

Some of them became rich through their family wealth, while some others took loans and converted it into billions.

Wherever their source of income may come from, their life is impressive, their career is overwhelming, and their bank accounts are fantastic.

Before you start reading this article, can you guess who will appear on this list?

Well, you probably already have names popping into your head as to who will appear on the list of the richest families in the world.

You may be wrong. Some of your favorites may not even make this list. Amazingly, the fortune these families have gathered is enough for the next five to six upcoming generations!

Not quite long, we’ve written about the richest musicians in Nigeria, the richest man in the world, and the richest footballers in the world.

Now, we’ll share with you info about the top richest families in the world.

Top 10 Richest Families In the World and Their Businesses

Sit and relax to find all the answers and even more in our post below.

1. Walton Family – Walmart

  • Estimated Wealth: $190.5 billion

Walton family - the richest family in the world

The Walton Family is arguably among the richest families in the world. Sam Walton, who died in 1992, opened the first Walmart store in Arkansas in 1962.

Nowadays, you see supermarkets all over the place? Have you ever wondered how it came into existence?

This would not have been possible, if not because of the relentless effort of Sam Walton, who opened the first store of Walmart in the early 1960s.

His right attitude in the store management took him to the greater heights. The majority of their wealth was derived from the “heritage of Bud and Sam Walton, who were the co-founders of the world’s largest retailer, Walmart.

According to Bloomberg’s most recent financial report, the Waltons make $70,000 per minute, $4 million per hour, and $100 million per day. Did you just take a deep breath?

They have spent some of their money on huge collections of art, real estate, and expensive cars. James Bud Walton was the brother of Sam Walton and he had been the pillar for Sam Walton.

He is regarded as the co-founder of Walmart. He worked on his family’s farm and also served as a Navy pilot in World War II.

After the demise of Sam Walton, the ownership and management is controlled by his wife Helen.

She delivered her responsibility towards the organization and their children. Rob, Jim, and Alice, who is the richest woman in the world with a $43.7 billion fortune.

Also Read : The top 10 richest women in the world today.

2. Mars Family

  • Estimated Wealth: $126.5 billion

Mars family - top 10 richest families in the world

Another filthy wealthy family in the world worthy of mention is the Mars family. Franklin is the founder of the food company known as Mars Incorporated.

He was born in the year 1882 in Minnesota and learned how to hand-dip chocolate from his mother. He has been married twice, first to Ethel G. Kissack and second to Ethel Veronica Healy.

The family owns some of the popular chocolate bar brands, Mars Bars, M&Ms, Snickers, Twix, Skittles, among other products, all produced under their company, Mars, Inc.

Franklin started the company with his second wife in Tacoma Washington before they moved to Minneapolis, Minnesota.

However, a reliable source has it that their net worth is around $126.5 billion, making them be among the richest families in the World.

He died in 1934 after suffering from heart problems, leaving the company to his son, Forrest.  Forrest Edward Mars Jr was born on August 16, 1931, he took over the Mars Company after his dad passed on.

He rebranded the company and made a lot more changes than his father and as of the time of his death, he was estimated to be worth a whoping amount of over $20.1 billion dollars.

The company is now being run by some of their children, the fourth generation of Mars family members.

The Mars family is known for its utmost secrecy, a fact that has increased their greatness.

The family members are today, owners of a company with yearly revenue of over $35 billion, over 80,000 employees and 20 manufacturing facilities all over the world.

Also Read: Currencies of all countries in the world

3. Koch Brothers – Koch Industries

  • Estimated Wealth: $124.5 billion

Koch family - wealthy family in the world

Here comes the engineering family, which is also one of the richest families in the world. The Koch family is an American family engaged in business and most noted for their political activities.

Fred Koch went on to have four sons with Wichitia Native Mary Robinson, Charles, and twins David and Bill.

Father Fred used his training in chemical engineering, to develop an improved method of turning oil into petrol before passing it to his children.

Following his death in 1967, Charles Koch and David Koch, owners of the second-largest privately run business in America Koch Industries.

Among other things, the Koch brothers own oil refineries in Texas, Alaska, and Minnesota and control some 4,000 miles of pipeline.

The Kochs owns most of Koch Industries, an oil and gas company with over 120,000 employees involved in the production of some unexpected consumer goods.

The Kochs are part of the American’s everyday lives in profoundly intimate ways. According to Forbes Magazine, the Koch brothers are now worth $124.5 billion and have been increasing their wealth daily.

Charles was groomed as Koch’s successor, becoming president of the family business after his father died in the 1960s and renaming it Koch Industries in his honor.

4. Al Saud – Saudi Royal Family

  • Estimated Wealth: $100 billion

Al Saud - Saudi Royal Family

It is not just only business-oriented family that make our list of the richest families in the world, even the royal families are also making fortune through royalty.

Salman was named as the country’s new crown prince in 2012, succeeding his brother Nayef. Mohammed bin Salman is the 33-year-old crown prince of Saudi Arabia.

He was born to King Salman and his third wife, Fahdabint Falah, in 1985. He was named crown prince in June 2017 after his father, King Salman, decided to remove Muhammad bin Nayef from the position.

He controls part of the royal family’s vast wealth, with a whoping amount of money. Prince Mohammed is known for his extravagant purchases.

The royal family is rumored to own several other lavish residences around the world, including in Switzerland, London, France, and Morocco.

He’s spent hundreds of millions on super-yachts, private jets, helicopters, French chateaus, and rare paintings.

The crown prince reportedly owns a $500 million, 440-feet yacht named Serene, which includes multiple swimming pools and hot tubs, two helipads, a helicopter hangar, a gym, and a movie theater.

In 2015, Prince Mohammed bought a chateau in France for $300 million, which was dubbed” the world’s most expensive home” by Fortune at the time.

Are you also wondering who the richest kings in Nigeria are? Then check that out.  It is no surprise that these powerful monarchs have undiluted wealth as they have businesses and investments scattered across the globe.

5. Carlos Slim and family

  • Combined net worth: $67 billion

Carlos sim family

Carlos Slim Helú was born on January 28, 1940, in Mexico City to parents of Lebanese origin.

From an early age, Slim grew an interest in business and received lessons on everything about finances as well as its management from his father.

His father, who was a very successful businessman himself, gave Slim the blueprint in which he has been able to build what he built.

He made his money through his savvy investment philosophy’ that has seen him control over 40% of the companies listed on the Mexican Stock Exchange.

That includes companies in construction, consumer goods, mining, and real estate as well as media

Slim owns a fabulous, multiple-storied house in New York City called the Duke Seamans mansion. It is a 1901 Beaux-arts house on 5th Avenue which he bought for $44 million in 2010 from Tamil Sapir.

The mansion is a typical townhouse, on one of the most exclusive streets in the world. Having a net worth of $67 billion makes them be among the richest families in the world.

6. Wertheimer Family – Chanel

  • Estimated Net Worth: $57.6 billion

Wertheimer - Chanel - richest families in the world

Following the Al Saud family, is the Wertheimer family that ranked 6th on our list of richest families in the world.

Alain Wertheimer born September 28, 1948 is a French businessman who, with his brother Gérard, owns the controlling interest in the House of Chanel and also has an investment in Bell & Ross.

Brothers Alain and Gerard Wertheimer are reaping the benefits of their grandfather’s funding of designer Coco Chanel in 1920s Paris.

The siblings own the closely held fashion house, which introduced the “little black dress” to the world and had revenue of $11 billion in 2018.

The Wertheimers also own various racehorses and vineyards across the world. Alain and Gerard Wertheimer, co-owners of luxury brand Chanel, are among the 10 richest people living in France.

Their wealth, while largely inherited, has been grown through business deals and acquisitions spanning retail, wine, and horse racing.

Their wealth began with their grandfather’s acquisition of Chanel, the French fashion house, which they both co-own today.

7. The Albrecht family

  • Combined net worth: $55.5 billion

Albrecht family

In 1913, the Albrecht family opened a corner grocery store in Essen, Germany.

Brothers Karl and Theo Albrecht inherited their mother’s small corner store in Western Germany after the end of the Second World War, and eventually grew a retailing empire that is currently the eighth largest in the world.

The family behind Aldi turned a small mom-and-pop grocery store into an international corporation, which is one of the richest super-market in Germany. This has ranked them as one of the richest families in the world.

8. Dumas Family

  • Estimated Wealth: $53.1 billion

Dumas family

Dumas family is another one on the list of richest families in the world, with an estimated net worth of $53.1 billion in 2019.

Hermès, like Chanel, is one of just a handful of renowned retail businesses where one family owns the controlling share.

It was Robert Dumas, who introduced belts and bags to the brand. He kept these new accessories in line with the brand’s tradition, though: Scarves, belts, and bags were all decorated with bridles, bits, and saddles.

Thierry Hermes started the family business in 1837. Long before the famous scarves and Birkin bags, Hermes was a harness maker who provided gear for the houses of royals throughout Europe.

His grandson, Emile-Maurice modernized the family business. He brought in his friends Louis Renault and Ettore Bugatti to make trunks for cars. Emile-Maurice also diversified the company into furniture, belts, and couture.

9. Van Damme, De Spoelberch and DeMevius Families

  • Estimated Wealth: $52.9 billion

van damme - richest families in the world

These three Belgian brewers is undoubtedly leading as the richest families in the world by Forbes this year.

They have made history in the beverage industry, extending back more than 500 years. The Van Damme clan joined the efforts of the De Spoelberch and De Mevius families in 1987, when Piedboeuf and Artois merged to form Interbrew.

The collective enterprise of these three Belgian beer making families has roots in the 14th century.

The Van Damme family joined the others when the 1987 merger between Piedboeuf and Artois led to the creation of Interbrew, which merged with Brazil’s AmBev in 2004.

Together, these three families have an estimated fortune of close to $53 billion. Alcoholic drinks have become a huge part of every occasion during all sorts of celebrations.

Do you agree with me that beer itself is a social activity? No wonder we have many breweries in Nigeria. Check out our post on the list of 11 breweries in Nigeria.

10. Boehringer, Von Baumbach Families

  •  Estimated Wealth: $51.9 billion

Boehringer Von Baumbach richest Families

Boehringer Ingelheim is one of the world’s largest pharmaceutical company, and the largest private one.

Headquartered in Ingelheim, it operates globally with146 affiliates and more than 47,700 employees. Boehringer Ingelheim is a German pharmaceuticals company with more than 130 years of history.

Later, the Boehringer family, along with the Von Baumbachs, remain in control of the company several generations.

His father found in 1817, the drug store Boerhinger in Stuttgart, which later became the different chemical company Boehringer Mannheim operated by his brother but sold to the Engelhorn family.

Boehringer lngelheim was a company of a bit more than 20 people at the beginning selling tartar and derivative products.

The company is still today private and not listed at the stock exchange. It made in 2018 a profit of 2.1 billion euros and reported revenue of almost 17,5 billion euros.

More of the wealthiest families in the world today

11. Mukesh and Anil Ambani

  • Estimated Net Worth: $50.4 billion

Have you ever heard of Reliance industries limited? The most prominent member of this family was Mukesh,  born in Aden, Yemen on April 19, 1957, to Dhirubhai Ambani and Kokilaben Ambani with his two sisters and one brother.

When he officially joined the Reliance company with his father, one of the first things he did was help him establish a polyester filament yarn manufacturing plant.

After his father’s death, Mukesh and his brother Anil divided the business, and each got separate sections of it.

Now, his company ‘Reliance Industries Limited’ is among the top wealthiest companies in India, which makes them be among the richest families in the world.

He lives in a 27-story mansion that’s been called the world’s most expensive private residence.

12. Cargill, MacMillan Families – Cargill

  • Estimated Net Worth: $42.9 billion

Cargill company is a privately owned business entity and one of America’s largest private companies William W. Cargill founded agribusiness giant Cargill Inc. in 1865.

According to Forbes estimates, the Cargill family has more billionaires among its members than any other family, with the wealthiest members in history.

At least 14 members of the family are billionaires. So why won’t they be among the listed richest families in the whole world.

The family members are the descendants of William Cargill, who founded the company in Minnesota after the Civil War – one of America’s largest private companies.

The agribusiness giant sells food, processes crops, trades commodities, sources ingredients and provides financial risk management.

W.W. Cargill founded Cargill Inc in 1865 as a small grain storage company.

Today, Cargill is the largest privately-owned company in the world, serving food and beverage manufacturers, food service companies and food retailers globally with its 53,000 employees operating in 70 countries.

13. The Bettencourt Family

  • Net Worth: $42.7 Billion

The cosmetic giant company, founded in 1909 is actually headed by the grandfather of the current head of the family, Francoise Bettencourt Meyers.

They venture in Cosmetic and after a successful transformation, the company is currently headed by Jean-Victor, who is the Grandson of Lilliane Bettencourt.

Lilliane Bettencourt was the daughter. According to estimates made in December 2013, Liliane’s net worth is $ 33.2 billion.

She owns 30.5% of the shares of L’Oreal. She is the richest person in France and was adjudged the 39 most powerful woman in the world by Forbes in 2005.

14. The Arnault Family

  • Net Worth: $37.7 Billion

Bernard Arnault’s, born on 5th March 1949, is a life and business acumen.  His father owned a construction business.

He went on to change the business area from construction to real estate; and he took over more luxury brands, he turned around their failing fortunes to a success story, making him a billionaire in the process and one of the richest families in the world.

Most of the luxury brands in France, such as Moet, Louis Vuitton, and Hennessy, come under the LVMH Group headed by Bernard Arnault who is one of the richest men in the world. Now, his son and daughter are the CEOs of Berluti and Vice President at LVMH respectively.

15. The Cox family

  • Net worth: $33.6 billion

Here comes another of the richest families in the world. Have you ever heard of Cox Enterprises?

Yeah, the Cox family is the founder cox enterprise and the clan’s fortune dates to 1898. Under this enterprise are different three sections: Cox Media Group, Cox Automotive, and Cox Communications.

The Cox family has shifted in focus over the decades from newspaper publishing at its start, to cable TV and automotive technology now.

The fortune is divided among James Cox’s five grandchildren: Jim Kenned he is (Cox Enterprises’ current chairman), Blair Parry-Okeden, James Chambers, Katharine Rayner and Margaretta Taylor.

Summary Notes On the Richest Families in the World today

Those are the top richest families in the world. Still, thinking where they got all their money and wealth? Imagine you were born in one of these richest families in the world.

Well as the adults are making money, the kids are making theirs too here is the detailed list of top 10 richest Nigerian kids and their wealth.

Never give up. Success is never easy, and just because you fail the first time, does not mean you should give up on yourself.

Learn from your failures and allow them to aid you and help you grow for your next endeavor. We all have the ability to accomplish whatever we want.

So, what are your thoughts about these wealthy families? Use the comment section below to share your opinion and don’t forget to like and share this post.