The Waltons, who own the Walmart chain, have reclaimed the top spot as the world’s richest family, with an impressive $432.4 billion – a fortune that is greater than Elon Musk’s individual net worth and even the combined wealth of the Middle Eastern royal families.
From India, the Ambani family empire ranks 8th ($99.6 billion), while Shapoorji Pallonji’s Mistrys group ($41.4 billion) takes 23rd place on the list.
The Waltons’ return to the top of Bloomberg’s list of the world’s richest families in 2024 is the result of the incredible growth of Walmart shares, which rose 80 percent through December 10 of this year. This remarkable growth added $172.7 billion to their collective wealth, which translates to a whopping $473.2 million per day, or $328,577 every minute, according to Bloomberg calculations.
The report also noted that billionaires around the world collectively amassed a fortune of $406.5 billion, reflecting a year of remarkable financial growth.
- The Walton family (US): $432.4 billion in wealth thanks to a 46 percent stake in the retail business. The family is made up of three generations living in the US.
- Walmart is the world’s largest retailer by revenue – $648.1 billion in the most recent fiscal year, with more than 10,600 stores worldwide – according to Bloomberg.
- Al Nahyan Family (UAE): The ruling family of the United Arab Emirates, with a fortune of $323.9 billion, came in second on this year’s list. The family, which rules the oil-rich region, is led by Sheikh Mohammed bin Zayed Al Nahyan, who is also the ruler of Abu Dhabi and president of the UAE. Bloomberg reported that companies linked to the royal family make up more than 65 percent of the Abu Dhabi stock market index.
- Al Thani Family (Qatar): The Al Thani royal family of Qatar, worth $172.9 billion, came in third on the list. With a legacy spanning eight generations, the family has survived through the Ottoman and British empires. Qatar’s wealth comes largely from its vast offshore gas and oil reserves.
- Family members hold numerous political positions and dominate the local economy, owning businesses ranging from hotels to insurance companies and contractors. They also own valuable foreign assets such as homes in London, a horse farm and the fashion brand Valentino – writes Bloomberg.
- Hermes family (France): With a net worth of $170.6 billion, the owners of the French luxury company, which spans six generations and more than 100 members, are in fourth place.
- Among the family members who retain senior positions in the company are Pierre-Alexis Dumas, artistic director, and executive chairman Axel Dumas – writes Bloomberg.
- Koch family (USA): This family has a net worth of $148.5 billion, and three generations have been involved in the oil industry.
