In the world of the ultra-rich, there exist a few families whose financial empires tower above the rest. These families have amassed extraordinary fortunes that span generations, cementing their status as the wealthiest families on the planet. Read on to know who are the top 3 richest families in the world whose wealth knows no bounds.
1. Walton Family
- Estimated Wealth: RM1.047 trillion
- Company: Walmart
The Waltons are ranked the top 3 wealthiest families in the world. As of 2022, the trio; Jim, Alice, and Rob Walton each have a net worth of around RM393 billion, ranking them at No. 16, 18, and 19, respectively, on Forbes’ billionaire list. Walmart, a retail giant, was founded by Sam Walton in Arkansas in 1962. In 2021, it has grown to become the world’s largest company in terms of revenues, reaching RM2.4 trillion and employing over 2.3 million associates in the United States alone.
To date, Walmart operates more than 10,500 retail stores worldwide, with 4,720 of them located in the U.S. alone. While Walmart is renowned for its low-priced products and has a significant presence in rural and suburban America through its big-box stores, it has faced criticism for its labour practices. Unlike its competitor Target, Walmart was unable to establish its big-box consumer lifestyle in New York City.
2. Mars Family
- Estimated Wealth: RM747 billion
- Company: Mars Incorporated
Mars Incorporated is wildly popular for its creation of M&Ms than for its eponymous Mars bar. In 2017, the leading candy company diversified its portfolio by acquiring VCA – a pet care company, for RM42 billion.
Siblings Jacqueline and John Mars, who are granddaughter of Frank Mars, established the company, each possesses a net worth of RM148 billion – securing them a tied position at No. 41 on Forbes’ billionaire list. The fourth generation of Mars family members now oversees the operations of the company.
3. Koch Family
- Estimated Wealth: RM602 billion
- Company: Koch Industries
Charles Koch owes his immense fortune to an oil business established by his father. However, he has gained significant public recognition for his involvement in politics, utilizing his substantial resources to make a lasting impact. This includes financing political candidates and libertarian think tanks, supporting university professorships, and engaging in policy advocacy, all with the aim of advancing a conservative agenda.
Charles was formerly partnered with his brother David until the latter’s passing in 2019. With an estimated net worth of RM280 billion, Charles is currently tied with David’s widow, Julia Koch, and their family for the 21st position on the Forbes billionaires list.
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