If you thought billionaires like Philip Green were swimming in coins, these families all want you to hold their beers, wines and whiskey.
Inheriting loads of money and making it last is something of a skill, I suppose, and some people like Kim Jong Un go wild with their inheritance as soon as it hits their bank account.
These 12 families have seen their fortunes span multiple generations, totalling a combined $1,1 trillion (R15 trillion) of the world’s wealth, a report by IOL explains.
Take a look at the 12 families who make up this trillionaire set:
1. Walton Family – Walmart:
Sam Walton founded what would become Walmart – the source of the world’s biggest family fortune – when he bought his first retail store in 1945. He died in 1992, when his oldest son Rob [middle] became chairman of the Bentonville, Arkansas-based company.
Their fortune: $151,5 billion (R2,06 trillion)
2. Koch Family – Koch Industries:
Fred Koch co-founded the Wood River Oil and Refining Company in 1940, which his sons – Frederick, Charles, David and William – inherited. The brothers feuded over control of the industrial company in the early 1980s, leading to the departure of Frederick and William. Charles and David stayed on, developing the Wichita, Kansas-based company into Koch Industries, a conglomerate with revenues of roughly $100 billion (over R1,3 trillion) a year.
Their fortune: $98,7 billion (R1,35 trillion)
3. Mars Family – Mars:
Frank Mars, born in 1883, learned to hand-dip chocolates as a child. He went on to found Mars, known for its many milk chocolates treats, including M&Ms, Milky Way and Mars bars … The Mars family owns the entire company, based in McLean, Virginia.
Their fortune: $89,7 billion (R1,22 trillion)
Three Belgian families run Anheuser Busch beverage company. De Spoelberch and De Mevius were already in working together when the Van Damme joined the partnership in 1987 after Piedboeuf and Artois merged, leading to the creation of Interbrew – which went on to merge with Brazil’s AmBev in 2004.
Their fortune: $54,1 billion (R740 billion)
Hermes was established in Paris in 1837 when Thierry Hermes began making riding gear for noblemen. His grandsons, Emile Maurice Hermes and Adolphe Hermes took over as joint presidents of the luxury goods company in 1902.
Their fortune: $49,2 billion (R672 billion)
Pierre Wertheimer negotiated a perfume contract with Coco Chanel in 1924, sealing the fate of his family’s financial future. After his death, son Jacques Wertheimer, whom Coco Chanel called ‘the kid’, took over the company. Now brothers Alain [right] and Gerard [left] own the Paris fashion house.
Dhirubhai Ambani set out in 1957 to build the industrial company that later would become Reliance Industries, based in Mumbai, India. His death in 2002 led to friction between his sons, Mukesh and Anil, as he didn’t leave a will. His widow eventually brokered an agreement between her sons for how the family fortune would be controlled.
Their fortune: $43,4 billion (R595 billion)
8. Quandt Family – BMW:
BMW was struggling when Herbert Quandt inherited the automotive business in 1954. He helped turn the company around, making it one of the world’s most-respected makers of luxury vehicles. He later increased the family’s holdings in Munich-based company to 50 percent. The family still retains control of the company and has diversified investments.
Their fortune: $42.7 billion (R585 billion)
9. Cargill and MacMillan Families – Cargill:
William W. Cargill founded Cargill, a food agriculture and industrial company, in 1865 with one grain storage warehouse in Conover, Iowa, in 1865. His descendants [above] maintain control of the company, which is now based in Minneapolis, Minnesota.
Their fortune: $42,3 billion (R579 billion)
Albert Boehringer founded Boehringer Ingelheim drug company in Germany in 1885 after buying a small tartar factory. The family, which encompasses the von Baumbachs, still control the company. Hubertus von Baumbach is the chairman of the business, based in Ingelheim, Germany.
Their fortune: $42,2 billion (R578 billion)
11. Albrecht Family – Aldi:
The Albrecht family opened a grocery store in Essen, Germany in 1913 that would later evolve into Aldi, based in Essen and Mullheim, Germany. Sons Theo and Karl Albrecht took it over after they returned from World War II and forged Aldi, a national chain low-cost supermarkets.
Their fortune: $38,8 billion (R532 billion)
12. Mulliez Family – Auchan:
Gerard Mulliez [pictured above] was born in 1931 to a family that owned a clothing company. He went on to found the Auchan supermarket chain in 1961. Known as ‘France’s Walmart,’ Lille, France-based Auchan has spread across Europe to become one of the continent’s largest chains. The family’s holding company, Association Familiale Mulliez, still controls a mix of retail businesses, including home improvement chain.
Their fortune: $37,5 billion (R514 billion)
Must be tough keeping track of all those zeros.
[source:iol]
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