These are the world richest families; Ambanis are at 5th place
New Delhi | Piyush Aggarwal/ Anurag Mishra: Many business families across the globe have reached new heights and have given new dimensions to the business. They have set new records for the new generations across the world. Recently, Bloomberg has shared a list of top family businesses around the world in its data ranking. Three American business families are at the top of the list, and India's Reliance Industries owned by the Ambani family is at the fifth position.
According to Bloomberg's rankings, Walton and Mars are in the business of Consumer Goods, while the third-ranked Koch belongs to the company of industrialists. The Walton family has total assets of worth $215 billion, while the Mars family has assets worth USD 120 billion. Sam Walton, after serving in the Army, acquired his first store in Newport, Arkansas in 1945 and used a USD 25,000 loan from his father-in-law. He opened the first Walmart in 1962, after years in the retail management business. After his death in 1992, and his elder son Rob Walton took over the business.
The Mars family owns USD 120 billion from brands like Milky Way, Snickers, M&M's, Twix, and Wrigley chewing gum. Saudi Arabia's royal family is on this list because of their home country's massive oil reserves. The Ambani family, which owns Reliance Industries Group, is ranked fifth on the list. The group has total assets of USD 81 billion. French luxury brands Harmus and Chanel also made it to the top 10.
Posted By: Aalok Sensharma