Find out who made it to the top of Forbes’ list for the richest family in the world 2020. Discover their net worth and how they accumulated their wealth.
Forbes 2020 has released its list of the richest families in the world, and it’s no surprise that the top spot is held by the Walton family. With a net worth of $215 billion, this family of Walmart heirs has amassed a fortune that is hard to fathom.
But what sets them apart from other wealthy families? For starters, they are the wealthiest family not just in the United States, but in the world. Their wealth is so vast that it exceeds the gross domestic product of many small countries. And yet, their humble beginnings are what make their story all the more fascinating.
Their empire was built on the foundation of Sam Walton’s vision for affordable retail, and it has since grown into the largest private employer in the world. But their success has not come without controversy, as the family has been criticized for their business practices and their impact on local communities.
Regardless of your opinion on the Waltons, there’s no denying that their wealth is mind-boggling. From philanthropy to political influence, their power and influence extend far beyond their bank accounts. So, what does the future hold for this family? Only time will tell, but one thing is for sure: they will remain a fixture on Forbes’ richest families list for years to come.
Introduction
The world is full of billionaires who have amassed their wealth through various means such as inheritance, entrepreneurship, and investments. However, there are families that have been able to maintain their wealth across generations and have become the richest families in the world. According to Forbes’ 2020 list of the wealthiest families, one family has stood out as the wealthiest of them all. In this article, we explore the richest family in the world Forbes 2020.
The Walton Family
The Walton family is the richest family in the world according to Forbes’ 2020 list of the wealthiest families. With a net worth of $215 billion, the Waltons have maintained their position at the top of the list for many years. The family’s wealth comes from their ownership of Walmart, the world’s largest retailer. Walmart was founded by Sam Walton in 1962, and the company has since grown to become a global retail giant.
Sam Walton
Sam Walton, the founder of Walmart, was born on March 29, 1918, in Kingfisher, Oklahoma. He started his career in retail as a management trainee at J.C. Penney before opening his first Walmart store in Rogers, Arkansas. Sam Walton’s vision was to provide customers with quality products at low prices, and this vision has been at the heart of Walmart’s success.
The Walmart Empire
Today, Walmart has over 11,000 stores in 27 countries, and it employs over 2.2 million people worldwide. The company’s revenue in 2020 was $524 billion, making it one of the largest companies in the world. The Walmart empire includes other retail brands such as Sam’s Club and Jet.com.
The Walton Family Members
The Walton family is made up of several members who have inherited the wealth of Sam Walton. The most prominent members of the family include Jim Walton, Alice Walton, Rob Walton, and Christy Walton. These individuals have a combined net worth of $215 billion, making them the richest family in the world.
Jim Walton
Jim Walton is the youngest son of Sam Walton, and he currently serves on the board of directors of Walmart. He has a net worth of $54.6 billion, making him the 8th richest person in the world according to Forbes. Jim Walton is also involved in philanthropy through the Walton Family Foundation, which focuses on education, environment, and health issues.
Alice Walton
Alice Walton is the daughter of Sam Walton, and she is known for her love of art. She has a net worth of $64.4 billion, making her the 6th richest person in the world according to Forbes. Alice Walton has used her wealth to build the Crystal Bridges Museum of American Art in Bentonville, Arkansas.
Rob Walton
Rob Walton is the eldest son of Sam Walton, and he served as the chairman of Walmart from 1992 to 2015. He has a net worth of $66.2 billion, making him the 5th richest person in the world according to Forbes. Rob Walton is also involved in philanthropy through the Walton Family Foundation.
Christy Walton
Christy Walton is the widow of John T. Walton, who was the son of Sam Walton. She has a net worth of $8.7 billion, making her the 149th richest person in the world according to Forbes. Christy Walton is involved in philanthropy through the Walton Family Foundation.
The Walton Family Philanthropy
The Walton family has been involved in philanthropy for many years, and they have donated billions of dollars to various causes. The Walton Family Foundation was established in 1987, and it focuses on education, environment, and health issues. The foundation has donated over $3.8 billion to date.
Education
The Walton Family Foundation has donated over $1 billion to education initiatives, including charter schools and school choice programs. The foundation also supports the KIPP Foundation, which operates a network of charter schools across the United States.
Environment
The Walton Family Foundation has donated over $500 million to environmental initiatives, including conservation efforts in the United States and around the world. The foundation supports organizations such as the Environmental Defense Fund and the Nature Conservancy.
Health
The Walton Family Foundation has donated over $400 million to health initiatives, including funding for medical research and hospitals. The foundation also supports organizations such as the Children’s Hospital of Los Angeles and the Arkansas Children’s Hospital.
Conclusion
The Walton family is the richest family in the world according to Forbes’ 2020 list of the wealthiest families. Their wealth comes from their ownership of Walmart, the world’s largest retailer. The family members have a combined net worth of $215 billion and are involved in philanthropy through the Walton Family Foundation. Their donations have had a significant impact on education, environment, and health initiatives around the world.
The Richest Families in the World Forbes 2020
The world’s wealthiest individuals have been known to come from different backgrounds and industries. However, some families have been able to build dynasties that have lasted for generations. These families have established their wealth through various means, such as technology, fashion, cosmetics, and food industries. Here are some of the richest families in the world, according to Forbes 2020:
The Gates Family – $113 Billion
Bill Gates, the founder of Microsoft, and his wife Melinda are known for their philanthropic endeavors through their foundation, the Bill and Melinda Gates Foundation. However, their fortune is still growing, with a net worth of $113 billion. The couple’s investments in various companies and properties continue to contribute to their wealth.
The Walton Family – $191 Billion
The heirs to the Walmart fortune are some of the wealthiest individuals in the world, with their net worth totaling over $191 billion dollars. The family’s massive retail empire has expanded globally, with stores in over 24 countries. Despite criticism for labor practices and allegations of bribery, the Walmart brand remains one of the most recognizable in the world.
The Mars Family – $126 Billion
The Mars family is known for their confectionery empire, which includes popular brands like M&Ms and Snickers. The company has also expanded to pet care and other food products, contributing to their net worth of $126 billion. The family’s private ownership has allowed them to maintain control over their company while keeping their wealth hidden from public scrutiny.
The Koch Family – $109 Billion
The Koch brothers are infamous for their political and financial influence in America, with their network spanning across industries and ideologies. The family’s investment in oil and gas has contributed to their wealth, with a net worth of $109 billion. However, their political and environmental advocacy has also made them controversial figures.
The Arnault Family – $117 Billion
The French owners of Louis Vuitton Moet Hennessy (LVMH), the luxury goods conglomerate, have a net worth of over $117 billion dollars. The family’s ownership of iconic fashion brands like Louis Vuitton, Dior, and Fendi has allowed them to maintain their wealth for generations. The family’s investments in other industries like hospitality and media have also contributed to their fortune.
The Ambani Family – $81 Billion
The Indian Ambani family controls Reliance Industries, which operates in industries ranging from petrochemicals to digital services. The family’s massive investment in telecommunications has allowed them to become one of the largest telecom providers in India. Their net worth is estimated at $81 billion, making them one of the wealthiest families in Asia.
The Hermes Family – $63 Billion
Hermes, the haute couture fashion house, has been run by the French Hermes family for six generations. The family’s legacy has been built around the creation of luxury leather goods, watches, and perfumes. Their net worth is estimated at $63 billion, making them one of the wealthiest families in France.
The Bettencourt Family – $49 Billion
The Bettencourt family is responsible for the cosmetics giant L’Oreal, with Liliane Bettencourt once being the richest woman in the world. The family’s ownership of the company has allowed them to maintain their wealth and expand into new markets. Their net worth is estimated at $49 billion, making them one of the wealthiest families in Europe.
The Wertheimer Family – $57 Billion
The Wertheimer family controls Chanel, the iconic fashion house that has been synonymous with luxury since its inception. The family’s ownership of the company has allowed them to maintain their wealth and expand into new markets. Their net worth is estimated at $57 billion, making them one of the wealthiest families in France.
The Cargill-MacMillan Family – $47 Billion
The Cargill-MacMillan family, whose wealth is derived from the food and agriculture industry, is one of the largest private companies in the United States. Their net worth is estimated at $47 billion, making them one of the wealthiest families in America. The family’s ownership of Cargill, Incorporated has allowed them to maintain their wealth and expand into new markets.In conclusion, these families have built their wealth through various means, ranging from tech to fashion to food industries. Their investment decisions and business strategies have allowed them to maintain their wealth for generations. However, their wealth has also come with controversy and criticism, with some families facing accusations of unethical practices or engaging in political advocacy. Regardless, these families’ legacies have left a lasting impact on their respective industries and on the world of business.
As per Forbes 2020, the richest family in the world is the Walton family with a net worth of $215 billion. The family’s fortune primarily comes from their ownership of Walmart, the world’s largest retailer. While being the wealthiest family has its advantages, it also has its drawbacks. Here are some pros and cons of being the richest family in the world:
Pros:
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Financial stability: Being the richest family in the world means that they have financial stability for generations to come. They can afford to live a luxurious life without having to worry about financial constraints.
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Power and influence: The Walton family has immense power and influence due to their wealth. They can use their resources to make a significant impact on the world and have a say in important decision-making processes.
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Generational wealth: The family’s wealth can be passed down to future generations, ensuring that their family’s legacy lives on for years to come.
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Philanthropy: The Walton family has been known for their philanthropic efforts, using their wealth to donate to various charities and organizations. They have the resources to make a significant impact on society and improve the lives of many.
Cons:
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Lack of privacy: Being the wealthiest family in the world comes with an invasion of privacy. The family is constantly under scrutiny, and their actions are closely monitored by the media and the public.
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Pressure to maintain wealth: With great wealth comes great responsibility. The Walton family has a responsibility to maintain their wealth and ensure that it continues to grow for future generations. This can be stressful and time-consuming.
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Jealousy and envy: The immense wealth of the Walton family can cause jealousy and envy among others, which can lead to negative consequences such as theft, lawsuits, and even violence.
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Lack of empathy: The vast amount of wealth possessed by the family can lead to a lack of empathy towards those who are less fortunate. It can be challenging to relate to the struggles of others when one has never experienced them personally.
In conclusion, being the richest family in the world has its advantages and disadvantages. While financial stability, power, and influence are some of the pros, lack of privacy, pressure to maintain wealth, jealousy, and lack of empathy are some of the cons. It is up to the individual or family to use their wealth responsibly and make a positive impact on society.
As we conclude our discussion on the richest family in the world according to Forbes 2020, it is evident that wealth accumulation is a result of hard work, dedication, and smart investments. The Walton family has managed to secure their position as the wealthiest family globally, with a net worth of over $215 billion.
The family’s fortune is mainly attributed to their ownership of Walmart, the world’s largest retailer, which generates billions of dollars in revenue annually. Additionally, the family owns several other businesses, such as Arvest Bank and the Crystal Bridges Museum of American Art, which continue to contribute to their wealth.
It is essential to note that the Walton family’s wealth is not just a result of smart business investments but also philanthropy. The family has donated millions of dollars to various charitable organizations and initiatives aimed at improving education and healthcare services in the United States. As such, their wealth is not just a means to personal gain but also a tool for promoting social change and development.
In conclusion, the Walton family’s success story serves as an inspiration to many aspiring entrepreneurs and investors worldwide. It is proof that with determination, hard work, and the right investments, anyone can achieve financial success. However, it is crucial to remember that wealth should not be the ultimate goal but rather a means to make a positive impact on society and improve the lives of those around us.
People are curious to know about the richest family in the world according to Forbes 2020. Some of the most frequently asked questions about this topic include:
- Who is the richest family in the world?
- How much is the net worth of the world’s richest family?
- What is the source of income for the world’s richest family?
- Has the ranking of the richest family in the world changed from previous years?
The answer to the first question is that the Walton family, the heirs of Walmart founder Sam Walton, is currently considered the richest family in the world by Forbes 2020.
The net worth of the Walton family is estimated to be $215 billion as of October 2020, making them the wealthiest family on the planet.
The main source of income for the Walton family is through their holdings in Walmart, which is one of the largest retail companies in the world. They also have investments in other businesses like banks, real estate, and energy.
It is worth noting that the ranking of the richest family in the world has changed in recent years. For instance, in 2019, the French Arnault family, who owns luxury goods group LVMH, briefly overtook the Waltons as the world’s richest family before falling back to second place.
In conclusion, the Walton family is currently the richest family in the world according to Forbes 2020, with a net worth of $215 billion. Their source of income is primarily from Walmart and other investments, and the ranking of the richest family in the world can change from year to year.