You will find many rich families in America. According to Forbes the combined wealth of these wealthy families exceeds a staggering $500 billion.
Here are the top 10 (as per Forbes) among them.
10) Duncan family (Net worth: $22.4 billion)
The Duncan family made its fortune in the pipelines industry. Dan Duncan, who was born poor in rural Texas, was raised by his grandmother after his mother and brother died when he was seven. When Duncan passed away in 2010 he was 77. He left his fortune worth around $10 billion to his four children. Since then the family wealth has more than doubled due to increase in stock price of the family business Enterprise Products Partners.
9) (Edward) Johnson family (Net worth: $26 billion
The Johnson family members own around 49 percent of Fidelity, the second largest mutual fund company in the US. It manages assets worth around $1.8 trillion. The Boston-based behemoth was founded by Edward C. Johnson II in 1946. His son Edward “Ned” Johnson III ran the company from 1977 to 2014, when he stepped down as CEO. Currently he is the chairman and his daughter Abigail is the CEO.
8) S. C. Johnson family (Net worth: $28.8 billion)
The S. C. Johnson family made its wealth in the cleaning products industry. They are behind many popular cleaning products like Windex, Ziploc, Shout and Glade. S. C. Johnson founded the company in 1886. Currently Herbert Fisk III, great-great grandson of S. C. Johnson, is the CEO of the company.
7) Pritzker family (Net worth: $30 billion)
The Pritzker family is a powerful family in Chicago. They made their fortune in the hospitality industry through smart investments. Pritzker family created Hyatt Hotels. They spent the first decade of the current century fighting over trusts and eventually divvied up the fortune. There are 11 billionaires in the family.
6) Hearst family (Net worth: $32 billion)
The Hearst family is behind the multinational conglomerate group Hearst Corporation. This New York City-based corporation was founded by William Randolph Hearst in 1887. Today it is one of the largest diversified communication companies in the world. The founder’s grandson, William R. Hearst III, is the chairman of the media behemoth.
5) Cox family (Net worth: $34.5 billion)
James M. Cox bought the Dayton Evening News way back in 1898. Over the decades, the business has expanded to include television, radio and much more. Cox Enterprises includes Cox Media Group (television, news papers and radio stations) and Cox Communications (broadband and cable television).
4) Cargill-MacMillan family (Net worth: $45 billion)
There are 14 billionaires in the Cargill-MacMillan family. It is the family with most number of billionaires. The family owns 88 percent of Cargill, Inc., the largest private company in the US in terms of revenue. The company processes crops, sells food, sources ingredients, trades commodities and provides financial risk management.
3) Mars Family (Net worth: $80 billion)
Siblings John, Forrest Jr. and Jacqueline own 100 percent of world’s largest candy company ($33 billion in sales) Mars. They inherited the business in 1999 when their father Forrest Sr. passed away. Even though all of them are on the board of the company, they have no daily role.
2) Koch family (Net worth: $86 billion)
The Koch family is behind Koch Industries, the second largest private company (around $100 billion in sales) in the US. Charles and David, two of the four siblings have worked really hard to grow the business. These two rank among the country’s top 10 richest individuals. Today Wichita-based Koch Industries is a multinational corporation, with subsidiaries involved in manufacturing, trading and investments.
1) Walton family (Net worth: $149 billion)
The Walton family is the richest family in the US. It controls Walmart, the largest retailer in the world. Walmart has come a long way since it was founded by Sam Walton and his brother James in a small town in 1962. Today, together, six members of the Walton family own around 54 percent of the retail giant. Various controversies (like Mexican bribery scandal and employee payment issues) have not impacted Walmart’s sales. It generated $486 billion in revenue in fiscal year 2015.