Whatever your financial situation, it is likely more enjoyable and less taxing to follow the ultrarich—whether with jealousy, adoration, or resentment—than to look into loans, internet brokers, or economics and finance. Many surnames have been on lists of the wealthiest people in the world for generations.
The popularity of wealthy families reflects a culture that fetishizes the rich and admires wealth. Many people view those in the top levels of business as celebrities, and they are closely examined for their success or failure in maintaining this limited status. These are the most powerful families controlling the economy and shaping the global market to serve their interests.
There are currently ten families that have risen to the top of the wealth ladder. This article examines each of them in-depth, offering insights into the secret investments of the richest families and other important facts that have contributed to their success.
Top 8 Wealthiest Families in the World
1. Al Saudi Family
Net Worth: $1.4 Trillion
Citizenship: Saudi Arabia
Source of Income: Oil production, Government contracts, Real estate, Investments
The Saudi royal family, known as the House of Saud, has been in power for almost a century. The Royal Diwan, the king's administrative office, has paid the family for decades, adding to their enormous fortune, which is estimated to be worth $140 billion.
How the Saudi royal family makes money? Their huge wealth is mostly derived from the nation's incredible oil reserves, which they manage through Saudi Aramco, the most valuable company in the world. The fortune of the family is closely linked to Saudi Arabia.
Because they are the rulers of the country, they receive large sums of money from government operations, royal stipends, and exclusive access to profitable contracts. This method benefits thousands of family members, yet the distribution of money is not fair.
2. Walton Family
Net Worth: $432.4 Billion
Citizenship: United States
Source of Income: Retail, Investments
According to financial statistics, the Walton family is the 2nd richest family in the world, surpassing even the wealthiest black solo billionaires. Their fortune has been precisely maintained and transferred over three generations, and they have a solid base in Walmart, the biggest retailer in the world.
How do the Walton family stay so rich? With over 2.2 million employees worldwide and over $648 billion in yearly sales, Walmart is currently the biggest retailer in the world in terms of revenue. The majority of the family's fortune is owned by Walton Enterprises, an investment holding firm that holds slightly less than half of Walmart's stock.
3. Al Nahyan Family
Net Worth: $323 Billion
Citizenship: United Arab Emirates
Source of Income: Oil reserves, sovereign wealth funds, Investments
Known as the "House of Nahyan," the Al Nahyan family is the third wealthiest family in the world. Sheikh Mohammed bin Zayed Al Nahyan, the family's leader, is the president of the United Arab Emirates and the king of Abu Dhabi. The UAE's enormous oil reserves have changed its economy and the wealth of its rulers and royal families. A wealthy emirate, Abu Dhabi is particularly rich in oil.
The family's fortune has increased significantly since the discovery of oil in the 1950s, much beyond their long history of controlling monasteries dating back to the 18th century. The family's riches have been earned through the ownership of billions of containers of oil reserves as well as incredibly successful wealth funds.
4. Hermes-Dumas Family
Net Worth: $170.6 Billion
Citizenship: France
Source of Income: Luxury goods, Investments
Hermès, a French fashion brand and provider of luxury goods, has amazed the world with its recognizable Kelly and Birkin handbags, as well as its scarves, neckties, and perfumes. Thierry Hermès created riding clothes for wealthy people in the 19th century. The family has strictly controlled the business, guaranteeing that Hermès will always be associated with quality, exclusivity, and tradition.
The Hermès family funds museums and artisan training programs as part of its nonprofit efforts to promote arts, crafts, and cultural preservation. The brand continues to be a standard for luxury and tradition in the fashion business despite occasionally being criticized for using exotic animal skins.
5. Al Thani Family
Net Worth: Over $170 Billion
Citizenship: Qatar
Source of Income: Oil and natural gas, Real estate, Global finance
Qatar has been managed by the Al Thani family since the mid-1800s. The family's rule survived two coup attempts, wars, and the establishment of modern-day Qatar. During his eighteen years of rule, Sheikh Hamad bin Khalifa Al Thani transformed Qatar into a prominent global force.
The discovery of unknown oil reserves and the extraction of offshore gas fields increased the nation's natural gas production significantly. The national average income in 2010 was $86,440 annually per person. The family has also made significant investments in media, banking, and real estate, using their money to boost Qatar's soft power globally.
6. Koch Family
Net Worth: $148.5 Billion
Citizenship: United States
Source of Income: Diversified Conglomerate
The Koch family has established one of the richest dynasties in the world. Koch Industries, one of the biggest privately held businesses, is the source of their money. Fred C. Koch founded the business in 1940 with a concentration on oil refining technologies, marking the beginning of the enterprise.
The Koch family is now associated with political power in the United States. They continue to be a prominent force in American politics and industry. Charles Koch continues to lead the business and manage the family's enormous charitable holdings, ensuring that their impact will last for many generations.
7. Mars Family
Net Worth: $117 Billion
Citizenship: United States
Source of Income: Confectionery, Pet care, Food
Mars, a multigenerational family business that is widely known and extremely successful, is the Walmart of candy. The Mars family's constant commitment to privacy and long-term viability sets them apart from many of their wealthy competitors. These ideals have always taken priority above immediate benefits or public recognition.
How the Mars family built their fortune? The company is currently more well-known for producing M&Ms than its Mars bar of the same name. The largest candy manufacturer in the world expanded its business in 2017 when it paid $9.1 billion to acquire the pet care company VCA.
Read More: Top 50 Richest Tennis Players of All-Time in the World
8. Ambani Family
Net Worth: $100-116 Billion
Citizenship: India
Source of Income: Oil and Gas, Petrochemicals, telecommunications, Retail, Textiles
Ambani family is one of the richest families in Asia and their wealth sources are petrochemicals, retail business and textiles. As chairman, Mukesh Ambani guides the family while his kids hold more important positions within the company.
How the Ambani family became the richest in India? Reliance Industries Limited, which Dhirubhai Ambani founded in 1966 as a small textile company, is the source of their wealth. Reliance currently controls the private sector in India.
Its scope includes retail chains, internet services, telecoms through Jio, petrochemicals, and refineries. Over 360,000 people are directly employed by the corporation, and millions more rely on it indirectly.