Wealth is security. It gets even better when it is secured within the family confines. We take a look at some of the world’s wealthiest families and what they do, the legacies they continue to leave behind and how they ensure that the wealth is transferred from generation to generation. You could even get some pointers on how to maintain family wealth by getting knowledge from some of these richest families of 2018 and how they pass the baton from old to the young.
10. Iris Fontbona and family
The Chilean family got its wealth as an inheritance from their father who was the owner of one of the largest copper mines globally. After the death of Andronico Luksic, the business fell in the hands of his wife and three sons who have been able to control and manage the business pretty well. Apart from the copper mine, the family also has shares in a company known as Quinenco which produces and packages consumer products. They also have interests in the banking sector, the energy and hospitality industry as well. Their net worth is $17.8 billion.
9. Alberto Bailleres Gonzalez and family
Alberto Bailleres Gonzalez comes from Mexico and Him together with his family own serious interests in Mexico such as the mining industry where he sits in the board of the largest silver miners in all of the world known as Industrias Penoles as the chairman. The family also has shares in FEMSA, a bottling company for world leading company Coca Cola. Apart from all that, they also own a group of department stores and an insurance company. The family is worth $18.2 billion.
8. Theo Albrecht Jr. and family
This fortune was left behind by Theo Albrecht senior who passed on after establishing one of the largest grocery chain stores in Germany and parts of Europe. His two sons Theo junior and Berthold, inherited his business empire. Their collective wealth is gathered by a foundation that spreads the dividends amongst all the family members to ensure that everyone enjoys the fruits of the company. Some of the companies the family members co-own include Trader Joes, and Aldi Nord which is a supermarket chain in Germany. The family is collectively worth $18.9 billion.
7. Thomas and Raymond Kwok family
These two brothers specialize in the property business. They have worked hard to rise through the ranks and become the lead property company in Hong Kong. Their mother is a part owner in their company known as Sun Hang Kai properties. They amassed this wealth through inheritance from their father who was an immaculate business man. Their net worth currently rests at $20 billion.
6. David Thomson and family
The Thomson family has been able to accumulate a lot of wealth because of their interests In the media industry. They are the owners of Woodbridge which is a private company. The family also has dominant ownership of Thomson Reuters which is a media information and technology company with 55% interests. As if that were not enough, they also have shares in HIS which is a company that specializes in real estate and market analysis. The family is worth $20.3 billion.
5. Michele Ferrero and family
If you are a lover of Ferrero rocher chocolates then the Ferrero family is the originator of these delicious chocolates. The company was inherited by the son of Pietro Ferrero, Michelle Ferrero. This is one of the largest confectionery companies in the world. They now not only have the chocolate brand but they also have the nutella brand and tic tac under their belt. They have operations in more than twenty countries around the world. Their net worth is $20.4 billion.
4. Christy Walton and family
This is the family behind Wal-Mart group of stores. The wife of the late John Walton inherited the business empire together with their son Sam Walton who also passed away. Therefore the fortune was left to the wife and one child who accumulated a huge amount of money in dividends. Christy also separately made another investment with First Solar Company. Their collective net worth is $ 28.2 billion.
3. Bernard Arnault and family
The genius business man is one of the most successful businessmen globally. He is behind the famous and well accepted luxurious brand Moet Hennesy Louis Vuitton abbreviated as LMVH. The man hails from France but a few years ago he had applied for Belgian citizenship in fear of the government of France’s taxation agenda for the rich people. Bernard together with his family has shares in the world celebrated brand Christian Dior. They have accumulated $29 billion.
2. Liliane Bettencourt and family
Currently, Liliane Bettencourt is the richest woman in the world as reported by Forbes Magazine. The family acquired their wealth as an inheritance from a family member who at that point owned 1/3 of L’Oreal Company, one of the largest cosmetics companies in the world. Though Lilliane is 90 years old and some of her duties have been taken up by her daughter she is currently the patriarch in the family. Their worth is an impressive $30 billion.
1. Carlos Slim Helu and family
This family is reported by Forbes magazine as the richest family in the world. This family owns a mobile phone company that has its operations spread through all of Latin America. Apart from that they also own a huge financial institution in Mexico known as Grupo Financiero Inbursa. His sons are now managing some of Carlos Slim Helu’s companies. Their net worth is a whooping $78 billion.
The above families have worked hard to acquire and maintain their wealth. It is very easy to lose money but hard to earn it so the above ten families have done impressively well in managing their business empires. Also note worthy is that they all earned their money through legally correct ways proving that sometimes shortcut are not really worth it.