Meet The World's Richest Families
For starters, mutual funds are the largest entity, and have been around since 1924. Hedge funds didn’t come to life until around 1950 and for ETFs, this stretched to the 1990s. Hermes, a luxury French fashion brand, is known for its characteristic scarves, neckties, and perfumes, as well as its renowned Kelly and Birkin purses. Thierry Hermes designed aristocratic riding attire in the nineteenth century.
In this infographic, we break down all $94 trillion of global GDP by country. The assets are typically accumulated through donations, and withdrawals are made frequently to fund various parts of operations, including critical ones like research. Private equity and venture capital are groups that invest in private companies. Venture capital is technically a form of PE but tends to invest in new startup companies while private equity goes for more stable and mature companies with predictable cash flow patterns. Mutual funds, ETFs, and hedge funds all generally invest in public markets.
Today he is worth some $34.2 billion (£25.1bn), while his mother Maria Franca Fissolo (pictured here with him at Michele's funeral) has a fortune of $2.1 billion (£1.5bn). Brunei's royal dynasty, the House of Bolkiah, was formed in 1363 and has ruled the southeast Asian country on and off ever since. Headed by Sultan Hassanal Bolkiah , the family has become rich thanks to Brunei's vast reserves of oil. The Safra surname means 'yellow' or 'gold' in Arabic, a suitable moniker for a family that have been involved in banking and gold trading since Ottoman times. Syria-born banker Joseph Safra founded his eponymous bank in Beirut in 1920, moving operations to Brazil during the 1950s, and went on to establish incredibly successful banks in Switzerland and the US. At his death, he had a fortune of around $19.9 billion (£14.5bn) but his wife Vicky and four children inherited 'just' $7 billion (£5.1bn).
Now son Henry runs the businesses with help from his daughter Sonia, who oversees the Rosewood Hotel Group (including the Carlyle and Hôtel de Crillon), and son Adrian . Check out below to know more regarding the three wealthiest families in the world, as reported by Bloomberg. To develop the list, the ranking excluded first-generation fortunes (like Jeff Bezos’s or Bill Gates) and those fortunes controlled by a single heir.
The Baring family, owners of an important merchant bank in London in the 18th to 19th centuries.
The fashion empire Kering now owns brands including Stella McCartney, Saint Laurent and Alexander McQueen, and is run by Pinault's son François-Henri, who is married to Hollywood actor Salma Hayek. Brothers Raymond and Thomas Kwok are property magnates with an empire that includes real estate in Hong Kong and China. Their late father Kwok Tak-Seng created Sun Hung Kai Properties in 1972. Brother Walter, who died in October 2018, was at the helm from 1990 to 2008, then Thomas and Raymond assumed the running of the firm, with their mother Kwong Siu-hing as key shareholder. However, Thomas was jailed for five years in 2014 on corruption charges and was only released in early 2019. Samuel Curtis (S.C.) Johnson started out with a flooring company in 1886, before developing his famous floor wax.
Ahead of her are brothers Jim ($63.7 billion, No. 17 worldwide) and Rob ($63.3 billion, No. 18 worldwide). Descendants of Sam and his brother, Bud, control more than 1.3 billion shares of Walmart stock either directly or through family trusts, Bloomberg says. Even though the Waltons have liquidated $6 billion in Walmart stock this year, they’re now worth more in 2021 than they were in 2020. This list of ‘richest families of the world’ shows the rising global inequality of wealth in the world.
The Koch family is top 10 one of the most political, American families engaged in business, and they control the Koch Industries. The Koch Industries is the second-largest privately owned company in the United States. The family business was started by Fred C. Koch, and he founded the oil refinery firm back then, which later became Koch Industries. Later after his death in 1967, Fred’s four sons litigated against each other in the 1980s and 1990s.
Today,the fortuneis split among 13 family members, 11 of whom are billionaires. They reportedly spent much of the 2000s arguing over trusts, ultimately dividing up the fortune at the end. GDP accounts for roughly 25% of the global economy, a share that has actually changed significantly over the last 60 years. The finance, insurance, and real estate ($4.7 trillion) industries add the most to the country’s economy, followed by professional and business services ($2.7 trillion) and government ($2.6 trillion). Despite a global recession, most of the world’s wealthiest families seem to be doing just fine—however, not everyone on the list has been thriving this year.
According to Bloomberg, the world's 25 richest families control $1.4 trillion of wealth. The granddaughter of L'Oréal founder Eugéne Schueller, Bettencourt Meyers, who is pictured here with her sons Nicolas and Jean-Victor, devotes her time to writing Bible commentaries and improving Jewish-Christian relations. Founded in 1885 in Germany by Albert Boehringer, Boehringer Ingelheim initially produced tartaric acid for the food industry before branching out into pharmaceuticals. Today, the drugmaker is among the 20 biggest pharma companies in the world. Boehringer's descendants control the family firm, with scion Hubertus von Baumbach serving as company chairman.