‘Richer than Elon Musk and Jeff Bezos’: Who are the 25 wealthiest families in the world?
When it comes to working out who is the richest family in the world it’s perhaps no surprise that it’s the Waltons, the family responsible for Walmart with a total fortune of $238.2 billion (around £174 billion). Their fortune has increased by a staggering $23 billion (around £16.8 billion) over the past year because when people ‘comfort buy’, their stock price soars. The family from Arkansas did however pay staff a nice little bonus to say thank you for their hard work during the pandemic.
$100 billion dollars behind the Waltons is the Mars family, who can also thank the boom in e-commerce, comfort food and spending on pets for the positive knock on effect it has had on their family fortune.
The business is best known for producing well known chocolate brands like M&Ms, Milky Way and Snickers bars.
However, pet products also make up about half of the company’s $39.2 billion (around £28.6 billion) in revenue. Bloomberg estimates that the family is worth $141.9 billion (around £103 billion).
Koch Industries, a Kansas oil company sits in third place while French luxury fashion company Hermes follows closely behind in fourth.
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Other families of interest include Brothers Alain and Gerard Wertheimer who are reaping the benefits of their grandfather’s keen eye for detail.
He backed designer Coco Chanel in the 1920s, 100 years later they brought in revenue of $10.1 billion (around £7.4 billion).
Then there’s the Albrecht family at number 12 who are the brothers behind supermarket giant Aldi.
Theo and Karl Albrecht took over their parents’ grocery store after returning home from World War II and turned it into what is now a global name worth $51 billion (around £37.3 billion).
Buffett bought his first stock when he was 11-years-old – it wasn’t exactly a success but it did give him a taste for investing.
He then went on to learn everything he could about investing and his research paid off, eventually.
Buffett said there is no one-size-fits-all when it comes to investing, but the housing market can be a good bet.
“If you built your own house 55 years ago, or bought it 55 years ago, like I did, it’s a one-time outlay,” he said. “You get an inflationary expansion and replacement capital without having to replace it yourself.”
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