I have always seen that rich people always find their ways to stay rich. No, I am not judging them. It is all about their business strategies and planning because you can see that the COVID-19 pandemic hasn’t stopped the world’s wealthiest families from growing their fortunes. Over the past year, the most affluent family, the Walton’s, gained their revenue by $25 billion, or almost $3 million per hour.
So today I am going to discuss about the Richest families in the US where has been no exception.
1. The Walton family – $247 Billion
The Walton family is the richest family in the US, with a fortune of $247 billion dollars, thanks to its stake in the American supermarket chain Walmart, the largest retail company globally in sales, which generated revenues of 559 billion dollars last year. Seven heirs to the company’s founders, Sam Walton and his brother James Budd Walton, own about half of the shares in Wal-Mart, which was founded in 1962. The Walton family also owns Arvest Bank, which operates 16 banks in Arkansas, Oklahoma, Missouri, and Kansas.
2. The Koch family – $100 Billion
The Koch family came in second place with a fortune of $100 billion. It is one of the prosperous families who reach success increasingly. The family members are very active and punctual. This family owns 84% of Koch Industries, which Fred Koch founded in 1940. The company generates $115 billion from industries as diverse as oil, chemicals, and paper products.
3. The Mars family – $94 Billion
The Mars family ranked third on the list, with a fortune of $94 billion. This family owns the Mars Corporation, one of the most giant candy and pet food manufacturers globally, with $40 billion. This company was founded in 1911. In 1911, Frank Mars had established the massive candy company and continuing successively in the future. In recent years, Candy company and pet food manufactures are conducted by leady women.
4. The Hermès family
Jean-Louis Dumas is the uncle of Axel Dumas, who currently serves as CEO and Chairman of the Hermes firm. Pierre-Alexis Dumas, the son of Jean-Lois Dumas, is there with him at the same time. They are all owners of controlling interests in the Hermes corporation, together with other descendants from the family tree of Thierry Hermes.
5. The Cargill Macmillan family – $47 billion
The Cargill Macmillan family owns Cargill, a grain and agricultural commodities company, one of the largest private companies in the United States of America, with revenues of $114.6 billion. The family has earned lots of popularity and come forward to success. About 90 family members own 88% of Cargill, founded in 1865, and the family ranks fourth on the list with a fortune of $47 billion.
6. The Lauder family – $40 billion
In 1946, Estee Lauder and her husband founded a cosmetics company that bears her name. Now 6 members of the Lauder family own stakes in the company, which has now 29 brands affiliated with it, including “Mac” and “Clinic,” and the company has achieved 14.3 billion dollars in the year. This family comes in fifth place with a fortune of $40 billion. The family has gained lots of achievement and come forward to the goal.
7. The SC Johnson Family – $37 billion
The family of SC Johnson came in sixth place with a fortune of $ 37 billion. The family owns the cleaning products company “SC Johnson,” which has an estimated revenue of $ 10.5 billion, and its history dates back to 1886. It is one of the successive families in the USA. The family members are very active and punctual.
8. The Edward Johnson Family – $36 billion
The Edward Johnson family owns 49% of Fidelity Investments, founded in 1946, while the employees own the remaining 51%. The Edward Johnson family comes in seventh place on the list with a fortune of $36 billion. The Johnson family is very reputable in the USA. As of September 2020, Fidelity has assets under management of $3.5 trillion, making it the second-largest mutual fund manager after Vanguard.
9. The Cox family – $34.5 billion
The Cox family came in eighth place, with a fortune of $34.5 billion. It is one of the biggest families in the USA. The family owns the media company “Cox Enterprises,” which generated $21.1 billion in 2019. The company’s founding dates back to 1898. The cox Enterprise is very famous for working hard and punctuality.
10. The Pritzker family – $32.5 billion
The Pritzker family ranked ninth on the list with a fortune of $32.5 billion. It is a successful family in the USA. The family’s capital comes from its Hyatt hotel chain and investment in the Marmon Group, which Berkshire Hathaway now owns. The family has broken every barrier to success in the business.
11. The Neuhaus Family – $30 billion
In the tenth place was the share of the Newhouse family, which has a fortune of 30 billion dollars. The source of the family’s wealth comes from magazines and newspapers. Vanity Fair and Condé Nast, and the company also own stakes in Reddit. The family is pretty prominent in the USA.
12. Mellon Family – $11.5 billion
The Mellon family is worth an estimated $11.5 billion, and it all started when Thomas Mellon immigrated from Ireland in 1818. Now, they are one of America’s richest families.
13. Duncan Family
The Duncan family owns approximately one-third of the stock in pipeline behemoth Enterprise Product Partners, co-founded by the late Dan Duncan in 1968. Dan grew up poor in Texas after losing his mother at 7. His children acquired a $10 billion property from Dan when he died in 2010. Since then, the family fortune has more than doubled for a rising stock price and great bonus payouts. Randa is the only child working as chairman of the board since 2013.
14. Hearst Family
William Randolph Hearst became proprietor of The San Francisco Examiner at age 24 in 1887. About 67 family members share the estate that William Randolph Hearst built when he took over the San Francisco Examiner. Later, Hearst obtained other newspapers and forayed into radio and TV, making today’s Hearst Corporation. The media monster owns several newspapers and almost 300 magazines, TV and radio stations, and stakes in cable TV channels. Grandson William R. Hearst III now chairs Hearst Corp., which owns more than 360 companies.
These families have made their headlines. With a mind-blowing journey, every family has inherited these ancestral and doubled the money to create the family brand over decades of hard work. They may induce jealousy but also work as an inspiration because who does not want to stay wealthy and have all?
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