HomeINSIGHTSThe Wealthiest Families In The World 2024

The Wealthiest Families In The World 2024

Since the last ranking, the world’s wealthiest households had gained $1.5 trillion. The sixth-generation Hermès dynasty is an example of meaningful change beyond the Middle East.
In a remarkable move, the House of Nahyan has topped Bloomberg’s annual family fortunes ranking with $305 billion, surpassing even Walmart Inc.’s Waltons by $45 billion.

Qatar’s royal family, the Al Thanis, debuted at fifth, confirming petro-fortunes’ global commercial dominance. Financial might of the Al Nahyans and Al Thanis adds multibillion-dollar emphasis to the region’s rising influence.

Petro-fortunes have transformed global business. The Al Nahyan, Al Thanis, and Gulf equivalents are likely to exceed conservative projections, consolidating their standing as important players with unparalleled financial power.

List Of The Wealthiest Family In The World Of 2024

1. AL Nahyan Family

Net Worth: ($305 Billion)

Abu Dhabi, one of the seven Emirates, is the capital and holds most of the UAE’s oil. The Al Nahyan family ruled the UAE for decades before the oil boom transformed the economy and the royal family’s riches.

Abu Dhabi’s ruler, Sheikh Mohammed bin Zayed Al Nahyan, is also president. Commonly, family members work in both government and private sectors, blurring the line between state and personal interests.

As national security adviser, Sheikh Tahnoon manages almost $1.5 trillion in personal and sovereign money, indicating a significant power and wealth.

2: Walton Family

Net Worth: ($ 259.7 Billion)

Walmart is the world’s largest retailer by revenue, earning $611.3 billion in the latest fiscal year from over 10,500 shops. The Walton family controls 46% of this Bentonville, Arkansas-based retail powerhouse. This ownership share underpins the greatest US fortune.

Since 2001, Jim, Rob, and Alice Walton have continuously ranked among the top twenty of the Forbes 400. This ongoing presence shows the family’s financial strength. In addition, John (d. 2005) and Helen (d. 2007) Walton were Forbes 400 members until their deaths. After John’s death, Christy Walton easily took his place in the list, demonstrating the family’s wealth legacy.

3. Hermes Family

Net Worth: ($150.9 Billion)

This sixth-generation family owns the French luxury fashion brand, known for its lavish Kelly bags that sell for hundreds of thousands of dollars at auction. Pierre-Alexis Dumas, artistic director, and Axel Dumas, executive chairman, oversee this esteemed family enterprise.

After Thierry Hermès began making riding gear for noblemen in 1837, this fashion brand became known for its excellent craftsmanship and elegance.

4. Mars Family

Net Worth: ($141.9 Billion)

Frank Mars started selling molasses candy at 19 in 1902. The company he carefully built is known for M&Ms, Milky Way, and Snickers bars. Although these treats are famous, the company’s vast portfolio includes pet-care goods, which account for nearly half of its $47 billion in revenue.

This prestigious McLean, Virginia, firm is owned by the Mars family and honors their past. Families nurture the company’s past, innovate, and adapt to changing consumer tastes.

5. Al Thani Family

Net Worth: ($133 Billion)

The Al Thani family ruled Qatar from the mid-19th century, navigating Ottoman and British imperial influences, the modern state, conflicts, and coups. The discovery of oil in the 1940s was a milestone, but the strategic exploitation of massive offshore gas deposits set the nation’s leaders on the path to worldwide wealth.

Family members have key positions in politics and affect the local economy. Their interests include hotels, insurance, and contracting, as well as prime Mayfair real estate, prominent stallion farms, and Valentino.

The Al Thani bloodline has hundreds of followers, but just a few are powerful. Harvard University research suggests they have made up roughly half of Qatar’s small population at times. This tight network shows the family’s vast influence and concentrated power in the nation.

6. Koch Family

Net Worth: (127.3 Billion)

Frederick, Charles, David, and William inherited Fred’s oil business. In the early 1980s, a family power struggle caused Frederick and William to leave the family firm, while Charles and David stayed. Wichita-based Koch Industries, a corporation with $125 billion in annual revenue, evolved from this early venture.

The family office, 1888 Management, manages part of its vast wealth. Charles Koch has donated $5.3 billion in Koch Industries shares to two Stand Together groups since 2020. This strategic philanthropy shows the family’s dedication to social change and matching their wealth with constructive causes.

7. Al Saud Family

Net Worth: ($127.3 Billion)

Saudi Arabia’s 91-year-old monarchy relies on its vast oil reserves for its wealth. Royal family members’ cumulative payouts from the Royal Diwan, the king’s executive office, during the past five decades determine their estimated net worth. Please note that the wealth controlled by the over 15,000 extended royal family members is likely much more than this estimate.

Beyond stipends, many royals have made money by brokering government contracts, negotiating land transactions, and starting enterprises that serve Saudi Aramco. The Public Investment Fund (PIF) has approximately $700 billion in assets, boosting the kingdom’s finances.

8. Ambani Family

Net Worth: ($89.9 Billion)

In the 1950s, Mukesh and Anil Ambani’s father, Dhirubhai Ambani, founded Reliance Industries. After Dhirubhai’s 2002 death without a will, his widow mediated a settlement between her sons over the family’s vast fortune. Today, Mukesh Ambani leads the Mumbai-based corporation that owns the world’s largest oil refinery.

As the owner of the world’s most costly 27-story house, Mukesh Ambani’s impact goes beyond business. This lavish display highlights the Ambani family’s success and Dhirubhai’s history in business and luxurious lifestyle.

9. Wertheimer Family

Net Worth: ($89.6 Billion)

Their grandfather’s imaginative support of Coco Chanel in 1920s Paris is now benefiting the Wertheimer brothers, Alain and Gerard. Due to this insight, the family bought the closely held fashion firm, which introduced the “little black dress” and earned $17.2 billion in 2022. The Wertheimers invest in racehorses, wineries, and fashion.

They manage their varied wealth and assets through Mousse Partners, run by their half-brother Charles Heilbronn. In 2022, Chanel CEO Leena Nair succeeded Alain Wertheimer, marking a major leadership change. This change highlights the brand’s continuity and progress under new ownership, while the Wertheimer family has a diversified portfolio beyond fashion.

10. Thompson Family

Roy Thomson founded an Ontario radio station, which made Canada’s wealthiest family rich in the early 1930s. He became the nation’s leading media owner and the 1st Baron Thomson of Fleet after expanding into newspapers. Woodbridge, the family’s investment vehicle, owns 69% of Thomson Reuters. This Toronto company earned $6.6 billion last year.

Thomson Reuters sold a majority stake in Refinitiv to Blackstone for $17 billion in 2018. The family owns the Globe and Mail newspaper and a stake in Bell Canada, a telecommunications giant. This diverse portfolio shows the family’s impact across Canada’s economic sectors.

Net worth figures in this ranking exclude first-generation and single-heir fortunes as of November 27, 2023. Families with diffuse or opaque wealth sources are purposely excluded from our assessment. This strategy concentrates on multi-generational family fortunes, revealing their wealth.

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