Richest Families in the World 2023 - List of Top 10
by Maivizhi A
Updated Mar 21, 2023
Richest Families in the World 2023
For countless generations, the world's wealthiest families have molded the global economy and influenced the lives of millions. These powerful dynasties have established vast empires spanning diverse sectors like technology, finance, retail, and real estate, and have left indelible marks on society.Their narratives, which brim with triumphs and failures, innovation and tradition, and an unceasing pursuit of excellence, are both intriguing and inspiring. The world's richest families have attained unparalleled triumphs, from the Rockefellers, whose oil riches propelled them to become one of the most dominant families in America, to the Ambanis, India's wealthiest family, who owe their success to their diversified conglomerate.
Top 10 Richest Families in the World 2023
In this article, we will explore the wealthiest family globally and furnish you with a catalogue of the top 10 richest families in the world. While their wealth has attracted criticism, with some questioning the role of inherited riches in perpetuating inequality, their impact on the world is undeniable. Their stories provide valuable insights into the nature of prosperity and influence in the contemporary age. Come join us as we delve into the world of the richest family globally, examining their legacies and intriguing tidbits about them! Please note that these figures are subject to change due to fluctuations in the global economy and each family's investments.
S.No
Richest Families
Net worth (2023)
Source of income
1
Walton Family
$247 billion
Walmart
2
Mars Family
$120 billion
Mars Inc.
3
Koch Family
$109.7 billion
Koch Industries
4
House of Saud
$95 billion
Saudi Aramco
5
Wertheimer Family
$54.4 billion
Chanel
6
Ambani Family
$48.5 billion
Reliance Industries
7
Dumas Family
$46.6 billion
Herme’s
8
Boehringer, von Baumbach Families
$45.1 billion
Boehringer Ingelheim
9
Cargill and Macmillan Family
$42.9 billion
Cargill Inc.
10
Johnson Family
$39.2 billion
Johnson & Johnson
The above table provides you the world’s richest families with their Networth and the source of income. Let us see a brief description for the families.
Top 10 Wealthiest Families in the World
1. Walton Family
With an estimated net worth of $247 billion, the Walton family reigns as the wealthiest family in the world. Their primary source of wealth is their ownership of Walmart, the world's largest retailer, which was established by Sam Walton in 1962. Over the years, Walmart has expanded into a global powerhouse, with more than 11,000 stores spread across 27 countries and generating annual sales of over $500 billion.
Since the company's inception, the family has played a significant role in its operations, holding approximately half of its outstanding shares. Despite their immense wealth, the Walton family has faced criticism for their treatment of employees and the impact of Walmart's business practices on local communities.
2. Mars Family
The Mars family, known for their ownership of Mars, Inc., one of the most successful candy and pet food companies globally, has an estimated net worth of $120 billion, making them one of the wealthiest families in the world. The company, founded by Frank Mars in 1911, is renowned for producing famous brands like M&Ms, Snickers, and Pedigree. With the family's involvement in the business for four generations, their impact on the global economy is significant, generating revenue of over $40 billion annually. Despite their immense success, the family is known for keeping their personal lives private and rarely making public appearances or speaking to the media.
3. Koch Family
The Koch family, one of the wealthiest families in the United States, has an estimated $109.7 billion in assets primarily attributed to their ownership of Koch Industries, a conglomerate with interests in manufacturing, energy, and chemicals. Fred C. Koch founded the business in 1940, which has since expanded to become one of the world's largest privately held companies, generating over $110 billion in annual revenue. The family's involvement in the business spans three generations, and they have donated their wealth to support conservative and libertarian causes. However, their environmental record and purported political influence have sparked controversy and criticism.
4. House of Saud
The ruling royal family of Saudi Arabia, known as the Al Saud, has an estimated net worth of $95 billion, primarily derived from their control of the largest oil reserves globally. The family has held power since Abdulaziz Al Saud united the tribes of the Arabian Peninsula in 1932 and established the Kingdom of Saudi Arabia. The king serves as the absolute head of the family and holds positions as both the head of state and government. However, the family has faced criticism regarding their human rights record, treatment of women, and propagation of conservative Islamic ideology. Despite this, they continue to wield significant power and influence globally.
5. Wertheimer Family
The Wertheimer family, originating from France, is reputed to possess a net worth of $54.4 billion primarily stemming from their ownership of Chanel, one of the most renowned luxury brands worldwide. Founded by Gabrielle “Coco” Chanel in 1909, the business has expanded into a global empire with over 300 stores worldwide and annual sales exceeding $11 billion.
The Wertheimer family has been involved in the business since the 1920s and holds full ownership. The family is known for their preference for privacy and their commitment to preserving the legacy and values of Chanel and its founder. However, the family has been subject to criticism for their alleged use of tax avoidance schemes despite their immense wealth.
6. Ambani Family
The Ambani family, among the wealthiest in India, is estimated to possess a net worth of $48.5 billion, mainly derived from their ownership of Reliance Industries. This conglomerate operates in sectors such as energy, petrochemicals, textiles, and telecommunications, and has developed into one of India's most significant and profitable businesses since its establishment by Dhirubhai Ambani in 1966, generating annual revenue surpassing $90 billion.
The family has been associated with the business for three generations and has contributed wealth to various charitable causes. Despite their immense riches, they have faced criticism for their close links to the Indian government and allegations of corruption.
7. Dumas Family
The Dumas family, a wealthy French family, is believed to possess a net worth of $46.6 billion, mainly from their ownership of Hermès, a luxury goods company. The company's iconic Birkin and Kelly handbags have contributed significantly to the family's wealth. Thierry Hermès established the business in 1837, and it has since grown into a global brand with more than 300 stores and annual revenues exceeding $8 billion.
The Dumas family has been involved with the company since the 19th century and owns over 70% of it. They are well-known for their commitment to preserving the brand's heritage and craftsmanship. However, the family has faced criticism for their alleged mistreatment of employees and use of exotic animal skins in their products.
8. Boehringer, von Baumbach Families
The Boehringer and Von Baumbach family of Germany is estimated to have a net worth of $45.1 billion. The family's primary source of wealth is the ownership of the pharmaceutical company Boehringer Ingelheim, which was established in 1885 by Albert Boehringer. The company is well-known for producing Pradaxa and Spiriva, among other pharmaceutical products, and employs over 50,000 individuals globally.
Representing the family is Hubertus von Baumbach, who currently serves as the company's CEO. The family has been involved in the business for five generations and has been recognized for their unwavering commitment to medical research and advancement. However, the family has also faced criticism due to allegations of involvement in Nazi war crimes during World War II.
9. Cargill and Macmillan Family
The Cargill and MacMillan family, a wealthy American family, is believed to have a net worth of $42.9 billion, primarily from their ownership of Cargill, Inc., one of the world's most extensive and prosperous agricultural firms. William Wallace Cargill established the company in 1865, and it has since developed into a global conglomerate engaged in food production, trading, and processing, employing thousands of individuals worldwide.
The family has been involved in the business for six generations and is renowned for their commitment to sustainability and corporate responsibility. The family also supports various philanthropic efforts, including education, health, and the arts. Despite their immense wealth, the family has faced criticism for their alleged involvement in deforestation and environmental degradation.
10. Johnson Family
The Johnson family is among the richest families in the US with an estimated asset of $39.8 billion. Fidelity Investments, one of the world's largest asset management firms, is the primary source of the family's wealth. Established in 1946 by Edward C. Johnson II, the company has grown into a global powerhouse, overseeing more than $4.9 trillion in assets.
The family has been involved in the business for three generations and is renowned for its conservative investment and long-term wealth management strategies. The family is also known for their philanthropic efforts, supporting various causes such as healthcare, education, and the arts. However, they have faced criticism over their alleged involvement in the financial crisis of 2008 and accusations of tax evasion.
Which is the Richest Family in the World 2023?
The Walton family is the wealthiest family in the world, with an estimated net worth of over $247 billion as of 2021. The family fortune comes from their ownership of Walmart, the world's largest retailer. The late Sam Walton, who founded Walmart in 1962, started the business with a single store in Arkansas and grew it into a global retail giant. Today, his three surviving children, Rob, Jim, and Alice, collectively own over 50% of Walmart's shares. The family's immense wealth has allowed them to invest in various businesses and philanthropic endeavors, making them one of the most influential families in the world.
Conclusion
The constantly changing roster of the world's wealthiest families is a captivating reflection of global affluence and dominance, made possible by their ownership of some of the largest and most prosperous companies. Their colossal fortunes have granted them significant sway and authority, not only within the business sector but also in broader society. Despite the controversies surrounding them, these families are expected to exert a lasting impact on the global economy for years to come.
Richest Families in the World 2023 - FAQs
The primary source of income for the Walton family is their ownership of Walmart, the world's largest retailer.
The Koch family is one of the wealthiest families in the United States, with an estimated net worth of $109.7 billion. Their wealth is primarily attributed to their ownership of Koch Industries, a conglomerate with interests in manufacturing, energy, and chemicals.
The Mars family's primary source of income is their ownership of Mars, Inc., a successful candy and pet food company.
The Mars family has an estimated net worth of $120 billion.
The Walton family, with an estimated net worth of $247 billion, is the richest family in the world in 2023.