Bloomberg has unveiled its 2024 list of the world’s richest families. The Waltons, heirs of Sam Walton, the visionary founder of Walmart, tops the ranking once again as the wealthiest family on the planet.
The collective fortune of the Walton family soared to an astounding US$432.4 billion earlier this year and shows no signs of slowing down. In fact, since early December, Walmart stock owned by Alice, Jim, and Rob Walton has skyrocketed by an impressive 80 percent.
This meteoric rise added a jaw-dropping US$172.7 billion to their wealth in 2024 alone. This equates to a wealth increase of US$473.2 million per day, or US$328,577 every minute. This remarkable surge not only swelled their fortune but also allowed the Waltons to reclaim the crown from the Emirati royal family, which briefly held the top spot in 2023.
Al Nahyan family is world’s second richest
The second richest family in the world is the Al Nahyan family, from the United Arab Emirates. The family rule the Abu Dhabi Emirate, which is where most of the country’s oil reserves are located. The family spans three generations and has a collective wealth of US$323.9 billion.
While Sheik Mohammed bin Zayed Al Nahyan rules Abu Dhabi, and also is the country’s president, other members of the Al Nahyan family also hold positions in government.
Sheik Tahnoon, for example, is the country’s national security advisor and manages personal and sovereign funds worth roughly US$1.5 trillion.
The Al Thanis of Qatar: world’s third wealthiest
The Al Thani family has ruled Qatar since the mid-19th century. In power for eight generations, the family has amassed very significant wealth, currently amounting to US$172.9 billion.
Oil and gas discovered in the mid-20th century skyrocketed the Al Thani family’s wealth, enabling it to become amongst the richest on the planet.
As with Abu Dhabi’s Al Nahyan family, many members of the Al Thani family occupy government positions. Owning a large number of businesses, they also dominate the local economy. In recent years, they have diversified their assets, having purchased the Valentino fashion label and purchasing homes in London’s exclusive Mayfair district.
The Al Thani family is not small. It actually consists of thousands of people, who together make up almost half of Qatar’s population. However, its wealth is concentrated in select branches of the family.
Hermes, Koch, and Al Saud families also amongst world’s wealthiest
A number of other families were named in Bloomberg’s ranking. These include:
- The Hermes family, from France, own the luxury brand Hermes. Their wealth comes to US$170.6 billion.
- The Koch family from the United States inherited their father’s oil firm. Koch Inc, is now a conglomerate based in Wichita, Kansas. The family’s wealth comes to US$148.5 billion.
- The Al Saud family from Saudi Arabia rules the country and holds the nation’s oil reserves. The Al Saud’s wealth is estimated at US$140 billion.
- The Mars family, from the United States, have amassed a fortune of close to US$133.8 billion over five generations. The family also own confectionary brands including M&M’s, Milky Way, and Snickers.
- The Ambani family from India holds a wealth of US$99.6 billion. The family’s conglomerate owns the world’s largest oil refining complex.
- The Wertheimer family from France, are the owners of Chanel. Over three generations, this family has amassed wealth totalling US$88 billion.
- The Thomson family, from Canada, are the owners of Thomson Reuters. The Thomson’s wealth, accumulated over three generations, comes to US$87.1 billion.
- The Johnson Family, who own Fidelity Investments, have amassed a wealth of US$72.4 billion, also over the course of three generations.
- The Albrecht family, owners of popular supermarket brand Aldi, have amassed a wealth of US$60.2 billion over three generations.
- The Pritzker family, who own a variety of businesses including hotels, and real estate companies, are one of America’s oldest dynasties. Over four generations, they have amassed wealth worth US$59.4 billion.
- The Cargill MacMillan family, who owns Cargill, has amassed wealth worth US$56 billion over seven generations.
- Number fifteen on the list of the richest families in the world, is the Ofer family from Israel. This family owns companies in shipping, real estate, energy, and a variety of other industries and has wealth reaching US$55.6 billion.