All people are familiar with the phrase, the family that prays together stay together. But some don’t just simply stay together but also work to become part of the wealthiest families on this planet.
Many of the following are old families that have accumulated their wealth through working together and supporting each other. They own businesses which are involved in many sectors, diversifying themselves as the years go by. Following is a list of top 10 richest families in the world 2018.
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10. The Rothschild family
This German family, whose net worth is about $400 Billion, saw their growth after establishing banking and finance houses in 18th century Europe. They are also responsible for financing works like the construction of Suez Canal.
The first member to start the business was Mayer Amschel Rothschild in 1760. Rothschild was essential during the French Revolution and controlled the entire banking structure from 1815 to 1914. Today, most of the descendants are employed in one of the many companies owned by the Rothschild’s which include energy, financial services, real estates and wineries in few countries. Even after more than 200 years, they are still seeing growth and profit.
9. The House of Saud
The House of Saud is a royal family who is the rulers of the now Saudi Arabia. It is estimated that the most prominent members of this family have their net worth in the billions, like Prince Al Waleed bin Talal. The members of this family are descendents of Muhammad Bin Saud who founded the Emirate of Diriyah, which was the first Saudi state. Today the most powerful member of the family is the King of Saudi Arabia, currently King Salman, whose personal net worth is $500 Million.
8. The Walton Family
This is the family that gave us the gift of the largest and most successful supermarket chain in the world, Walmart. Most of their assets are derived from Bud and Sam Walton, the founders of the supermarket chain. The most prominent members today have been appearing on the Forbes top 400 lost since 2001.
7. The Koch Family
Koch family’s wealth started with Fred Koch, who came up with the new method for refinement of crude oil for the production of gasoline. Today it has become the second largest privately owned business in the United States.
Out of the four sons that Fred had with his wife Mary only two – David and Charles – still remain involved with the company. They have been active in politics, supporting the libertarian party since 1980 when David Koch was their Vice President Nominee, and have donated and held many campaigns in supporting the party.
6. The Mars Family
The Mars family has made their fortune through the confectionary company which has their name on it. It all started with Franklin Clarence Mars who is the founder of Mars Inc. and invented the Milky Way bar which is a famous candy bar in the United States. The family was said to be the richest family but were surpassed by the Walton family in 1988. They are a very private family and only a few of the members have ever been photographed or interviewed.
5. The Slim Family
The Slims are a Mexican family and they own the conglomerate Grupo Carso. The key member of this family is Carlos Slim, a civil engineer who was listed on the Forbes list of top billionaires. Carlos Slim has three boys from his late wife who holds key positions in his company and runs it in his stead.
4. The Cargill-MacMillan Family
The Cargill family on its own is one of the richest families in the United States, owning 90% of Cargill which is the largest privately owned company in the United States. They became Cargill-Macmillan after the marriage of John H. MacMillan Sr. and Edna Clara Cargill. After the death of William Cargill, it was John Macmillan who saved the company from a debt crisis.
Much is not known about the key members and the history of this family – this is attributed to the importance they give to their privacy.
3. The Bettencourt Family
The Bettencourt family started with Liliane Bettencourt who was one of the principal shareholders in one of the largest beauty products company, L’Oreal. The company was started by her father, Eugene Schueller. The entire Bettencourt family owns 33 % of shares in the L’Oreal Company today.
The Bettencourt’s have used their wealth to start the Bettencourt Schueller Foundation whose key motive is to support and develop medical, cultural and humanitarian projects. At the time of her death, Liliane Bettencourt was the richest person in the world.
2. The Arnault Family
Bernard Arnault is the CEO of LVMH, which is a multinational luxury goods firm which was formed in 1971. The family has billions of dollars of stock in LVMH and in the supermarket chain Carrefour and in Hermes.
Some of the subsidiaries, which are approximately 70, of this conglomerate are Dom Perignon, Bulgari, Sephora and Tag Heuer.
1. The Cox Family
The Cox enterprise is a conglomerate owned by the Cox family which was founded by James M. Cox in 1898 after purchasing the Dayton Daily News and is currently run by James C. Kennedy, the chairperson, and John Dyer who is the president and CEO. This company has its hands in many sectors including newspaper, radio stations, and television stations. The major subsidiaries under Cox enterprise are Cox Communications, Cox Media Group, and Cox Automotive. They believe in charity and helping their fellow man; this was evident in 2014 when they donated close to about $92 million for the support of their community in cash and in-kind contributions.
The above families are a pure testament to the fact that when a family works together and for each other rather than for personal gain, it is possible to achieve feats that would not have been possible to achieve if one had to do them alone. They have achieved wealth, power and happiness not only for the individual but for the whole family and it will remain so for their future generations as well.