Since March, the coronavirus pandemic forced markets to slow down, the world economy has seen a major collapse. Although if you are one of the richest families in the world, very little will ever bother you. Mukesh Ambani, for example, has climbed nine places on the Bloomberg Billionaires Index since January. As of August 18, the Indian billionaire had, however, dropped from fourth place to sixth on Forbes Real-Time Billionaires List. Meanwhile in the USA, the family behind Walmart had their accumulated wealth growing by $25 billion, according to a new Bloomberg survey. Here are the top 5 richest families in the world.
The Mars Family
You might be shocked that your favorite items – Snickers, Mars, M&M’s, and Twix – are from the same factory, which belongs to Mars Inc. Frank Mars, as a schoolboy, learned to hand-dip chocolates and built the successful Mars Inc. However, more than half of the $38 billion income of the organization is derived from animal-care goods.
Wealth Source: Mars Inc.
Net Worth: 120 billion dollars
The Walton Family
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Walmart is one of the world’s largest supermarket chains in terms of sales. As per Bloomberg, they have revenue of $524 billion in more than 11,000 stores worldwide. The Walton family has been hoarding money for over three decades now and continues to own over half the stake in the business even today, which is why they obtain the top position among the richest families in the world. Presently, Steuart Walton is the company’s director.
The Koch Family
Four brothers, William, Charles, David, and Frederick, inherited the oil company of their father. However, Charles and David took over the control of the company after a family feud in the 1980s, while Fredrick and William left. According to the Bloomberg report, the firm then became Koch Industries with an astonishing annual revenue of around $115 billion. Last year, David Koch died unexpectedly. On the other hand, Charles Koch remains to be the CEO.
Wealth Source: Koch Industries
Net Worth: 109.7 billion dollars
The Ambani Family
Mukesh Ambani and his wife, Nita
Obviously, Mukesh Ambani and his relatives are the only Indians in the world among the 10 wealthiest families. Dhirubhai Ambani had established Reliance Industries in 1957 and then divided between Mukesh and Anil after his death in 2002. Mukesh Ambani is now the leader of one of the largest conglomerates in Mumbai and Reliance Industries controls the largest oil refining complex in the country. His house, the renowned Antilla, is one of the world’s most luxurious private homes. The children of Mukesh Ambani, Akash, Isha, and Anant Ambani, joined the company.
Net Worth: IndiaToday
Net Worth: 75 billion dollars
This one is certainly not surprising, since Al Saud is the monarchy of the UAE. They are wealthier than you can believe, thanks to their oil mines. Al Saud is the house in charge in the UAE over the last 88 years and has transformed the desert into a gold mine. The overall capital controlled by its approximately 15,000 extended members is trivial. Their revenue streams are brokering political dealings, property sales, and establishing companies that serve the state in all imaginable ways. Indeed, Crown Prince Mohammed bin Salman, son of the 7th Saudi king, is said to have over $1 trillion in reserves.
Net Worth: N/A (According to Bloomberg)
Net Worth: 95 billion dollars