The World’s Richest Families in 2020

The COVID-19 pandemic hasn’t stopped the world’s wealthiest families from growing their fortunes. Over the past year, the richest family—the Waltons—grew their wealth by $25 billion, or almost $3 million per hour.

This graphic, using data from Bloomberg, ranks the 25 most wealthy families in the world. The data excludes first-generation wealth and wealth controlled by a single heir, which is why you don’t see Jeff Bezos or Bill Gates on the list. Families whose source of wealth is too diffused or opaque to be valued are also excluded.

The Full Breakdown

Intergenerational wealth is a powerful thing. It often prevails through market crashes, social turmoil, and economic uncertainty, and this year has been no exception.

Here’s a look at the 25 most wealthy families in 2020:

Rank Name Company Wealth, $B Sector Location
1 Walton Walmart 215 Consumer services 🇺🇸 Bentonville, Arkansas
2 Mars Mars 120 Consumer goods 🇺🇸 McLean, Virginia
3 Koch Koch Industries 109.7 Industrials 🇺🇸 Wichita, Kansas
4 Al Saud N/A 95 Industrials 🇸🇦 Riyadh, Saudi Arabia
5 Ambani Reliance Industries 81.3 Industrials 🇮🇳 Mumbai, India
6 Hermès Hermès 63.9 Consumer services 🇫🇷 Paris, France
7 Wertheimer Chanel 54.4 Consumer services 🇫🇷 Paris, France
8 Johnson (Fidelity) Fidelity Investments 46.3 Financials 🇺🇸 Boston, New York
9 Boehringer, Von Baumbach Boehringer Ingelheim 45.7 Health care 🇩🇪 Inglheim, Germany
10 Albrecht Aldi 41 Consumer services 🇩🇪 Rhineland, Germany
11 Thomson Thomson Reuters 40.6 Communication 🇨🇦 Ontario, Canada
12 Hoffmann, Oeri Roche 38.8 Health care 🇨🇭 Basel, Switzerland
13 Mulliez Auchan 38.4 Consumer services 🇫🇷 Lille, France
14 Cargill, MacMillan Cargill 38.1 Industrials 🇺🇸 Minneapolis, Minnesota
15 Johnson (SC) SC Johnson 37.3 Consumer services 🇺🇸 Racine, Wisconsin
16 Van Damme, De Spoelberch, De Mevius Anheuser-Busch InBev 36.8 Consumer goods 🇧🇪 Belgium
17 Quandt BMW 34.7 Consumer services 🇩🇪 Munich, Germany
18 Cox Cox Enterprises 33.1 Communication 🇺🇸 Atlanta, Georgia
19 Rausing Tetra Laval 32.9 Materials 🇬🇧 London, England
20 Newhouse Advance Publications 31 Communication 🇺🇸 New York, New York
21 Chearavanont Charoen Pokphand Group 30.7 Diversified 🇹🇭 Bangkok, Thailand
22 Ferrero Ferrero 30.5 Consumer goods 🇮🇹 Alba, Italy
23 Kwok Sun Hung Kai Properties 30.4 Real estate 🇭🇰 Hong Kong
24 Pritzker Hyatt Hotels 29.6 Consumer services 🇺🇸 Chicago, Illinois
25 Lee Samsung 29 Diversified 🇰🇷 Seoul, South Korea
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*Note: The Al Saud’s net worth is based on cumulative payouts royal family members were estimated to have received over the past 50 years.

The Waltons are the richest family on the list by far, with a net worth of $215 billion—that’s $95 billion more than the second wealthiest family. Sam Walton, the family’s patriarch, founded Walmart in 1962. Since then, it’s become the world’s largest retailer by revenue.

When Sam passed away in 1992, his three children—James, Alice, and Rob—inherited his fortune. Now, the trio co-owns about half of Walmart.

In second place is the Mars family, with a net worth of $120 billion. The family is well-known for their candy empire, but interestingly, about half of the company’s value comes from pet care holdings. Mars Inc. owns several popular pet food brands, including Pedigree, Cesar, and Royal Canin—and it expanded its pet presence further in 2017 when it acquired VCA, a company with almost 800 small animal vet hospitals across the U.S. and Canada.

The Koch family is the world’s third-richest family. Their fortune is rooted in an oil firm founded by Fred C. Koch. Following Fred’s death in 1967, the firm was inherited by his four sons—Frederick, Charles, David, and William. After a family feud, Frederick and William left the business, and Charles and David went on to build the mega industrial conglomerate known as Koch Industries.

Despite being affected by the oil crash this year, the Koch family’s wealth still sits at $109.7 billion. Before David’s passing in 2019, he and his brother Charles were heavily involved in politics—and their political efforts were the subject of much scrutiny.

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Richest Families, by Sector

It’s important to note that many of these families have diversified their investments across a variety of industries. For instance, while the Koch family’s wealth is largely concentrated in the industrial sector and commodities, they also dabble in real-estate—in May 2020, they made a $200 million bet on U.S. rental homes.

That being said, it’s interesting to see where each of these families started, and which sectors have bred the highest number of ultra-wealthy families.

Here’s a breakdown of each sector and how many families on the list got started in them:

Sector Number of Families Total Wealth, $B
Consumer Services 8 514.3
Industrials 4 324.1
Consumer Goods 3 187.3
Communications 3 104.7
Health Care 2 84.5
Diversified 2 59.7
Financials 1 46.3
Basical Materials 1 32.9
Real Estate 1 30.4

The top sector is consumer services—8 of the 25 families are heavily involved in this sector. Walmart helped generate the most wealth out of families in this space, while luxury brands Hermès and Chanel were the source of fortune for the next two wealthiest families.

Industrial is the second largest sector, with 4 of the 25 families involved. It’s also one of the most lucrative sectors—out of the top five wealthiest families on the list, three are in industrials. The Koch family is the wealthiest family in this category, followed by the Al Saud family and the Ambani family, respectively.

Communications and consumer goods are tied for third, with 3 of the 25 families in each. The Thomsons, who founded Thomson Reuters, are the wealthiest family in communications, while the Mars family has the highest net worth in the consumer goods sector.

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Resilient, but not Bulletproof

Despite a global recession, most of the world’s wealthiest families seem to be doing just fine—however, not everyone on the list has been thriving this year.

The Koch family’s fortune dropped by $15 billion from 2019 to 2020, and the current political climate in Hong Kong has had a negative impact on the Kwok family’s real estate empire.

While intergenerational wealth certainty has resilience, how much economic and social turmoil can it withstand? It’ll be interesting to see which families make the list in 2021.

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