When most of us think of wealthy families, we think of celebrities such as the Kardashians, but in actuality their wealth doesn’t even come close to some families in the world. Some of these families have the world at their feet financially. Here is a look at three wealthiest families in the world.
Walton family ($130 B )
The Waltons top the richest families list in America thanks to their ironclad control over the world’s largest retailer, Wal-Mart. Seven heirs of founders Sam Walton (Died 1992) and his brother James “Bud” (Died 1995). They own about half of the company’s stock. The company was Founded in 1962 in Rogers, Ark. and taken public in 1970, today it’s the biggest business in the U.S. in terms of revenues, with $482 billion in sales.
In June 2016 Walmart shrunk its board from 15 members to 12 keeping Instagram cofounder Kevin Systrom and embattled Yahoo CEO Marissa Mayer as members. However,the retiring Jim Walton was replaced by his son, Steuart, the first Walton grandchild to join the board. Jim’s brother, Rob Walton, who was chairman for two decades, remains a director alongside current chairman Greg Penner, his son-in-law. The Walton family fortune is primarily held by Sam’s Walton three living children-Rob, Jim and Alice,daughter-in-law Christy and her son, Lukas, plus Bud’s two daughters, Ann Walton Kroenke and Nancy Walton Laurie
Koch family($82 B)
A failed takeover attempt by brothers William and Frederick Koch resulted in the two cashing out of the family business for a reported $800 million in 1983. That gave the other two siblings, Charles and David, free reign to expand Koch Industries. This industry is now the nation’s second largest private company with more than $100 billion in sales. Furthermore,their feelings shortchanged, William and Frederick spent more than a decade suing for more, to no avail. Today they are worth a fraction of their more powerful siblings, who both rank among top 10 richest individuals in their country. William also runs Oxbow Corp, an energy and industrial materials company, while Frederick, an art-lover, has stayed under the radar.
Mars family($78 B)
The Mars siblings, Jacqueline and John, and the heirs of their brother Forrest Jr who died in July 2016 own Mars Inc,one of the world’s largest and most secretive candy companies, with $33 billion in sales. The siblings, who have no daily role, inherited the company in 1999 when their father Forrest Sr. died. Their grandfather Frank began selling candy from his Tacoma, Washington kitchen in 1911. Their father also joined the company in 1929. Around the same time the company invented the malt-flavored nougat that became the basis of Milky Way and Snickers. Later the company invented M and Ms, over 400 million of which are produced in the U.S. each day.