These richest families contributed massively to America’s reputation as a world power, dominating areas such as technology, entertainment, retail, energy, hospitality, banking and more.
By Lawrence Agbo
The United States of America maintains the status of a global world power due to its powerful economy, military domination, technological breakthroughs, and cultural impact. Its economic power and domination can be traced to certain families, particularly the top ten wealthiest families in the world.
These wealthy families contributed massively to America’s reputation as a world power, dominating areas such as technology, entertainment, retail, energy, hospitality, and banking and more.
Here is a list of the top ten richest families in America.
10. The Cox Family: Media and Automotive
The Cox family ranks tenth on this list, with an estimated fortune of $26.8 billion derived mostly from media and automobile companies. The family’s empire began in 1898 when James M. Cox bought the Dayton Evening News, which later became Cox Enterprises.
Cox Enterprises gradually expanded into radio, television, cable, and digital media and entered the automotive market with companies such as Autotrader and Kelley Blue Book, solidifying its position as a key player in both industries, with annual revenues exceeding $22.1 billion.
Today, Cox Enterprises is still privately owned, and the family continues to manage its wide portfolio, thereby remain among the wealthiest families in America.
9. The Duncan Family: Oil and Gas
The Duncan family in the ninth position made its money in the oil and gas industry and is worth an estimated $30 billion. Dan Duncan built a pipeline empire in 1968, which accounts for the majority of the family’s riches.
The Duncan family owns Enterprise Products Partners, a corporation that delivers oil, natural gas, and other petroleum products across the United States.
According to Forbes, Duncan’s four children inherited the company upon his death, and it has continued to grow under family management.
8. The Cathy Family: Fast Food
The Cathy family runs one of the most profitable fast-food franchises in the United States and is worth an estimated $33.6 Billion and eight on the list. Truett Cathy founded it in 1946 owes its riches to Chick-fil-A one of the most popular fast-food company in the United States.
Despite being closed on Sundays, the fried chicken fast-food company has over 3,000 outlets and is generates $6.4 billion in sales by 2022. The Cathy family’s conservative principles and devotion to philanthropy have helped to cement their reputation in the fast-food sector and beyond.
7. The Johnson Family: Cleaning Products
SC Johnson, a global leader in cleaning products and household goods that manufactures brands such as Windex, Pledge, Glade, Ziploc, Raid, and others is seventh on the list, and is worth an estimated $38.5 Billion.
S.C. Johnson launched the company in 1886 after working as a salesperson for a parquet flooring manufacturer and eventually purchasing it. The family’s dedication to environmental sustainability and innovation has helped the company maintain its industry-leading position for more than a century.
6. The Pritzker Family: Hotels & Investing
The Pritzker family (Jay Pritzker and his brother Donald) established Hyatt Hotels Corporation, one of the world’s largest and most prominent hotel companies and is worth an estimated $41.6 Billion and is sixth on the list.
The Pritzker family has long been a major participant in American industry and involved in philanthropy and politics.
The Pritzker family now has ten individual billionaires, including former US Secretary of Commerce Penny Pritzker and movie producer Gigi Pritzker.
5. The Johnson Family: Money Management
The Johnsons are one of the wealthiest families in the America and are worth an estimated $44.8 billion and are fifth on the list.
The Johnson family is the driving force behind Fidelity Investments, one of the world’s largest asset management organizations created by Edward C. Johnson II in 1946.
4. The Cargill-MacMillan Family: Agribusiness
The Cargill-MacMillan family owns one of the largest privately held enterprises in the United States, which was formed in 1865 by William Cargill worth an estimated $60.6 Billion and is fourth on the list.
In the fiscal year 2023, Cargill Inc. made $177 billion in sales and other revenues from a variety of products including chocolate and livestock feed.
Cargill’s businesses have broadened throughout time to encompass agricultural commodity trading, processing, and distribution, as well as food production and risk management.
3. The Koch Family: Energy & Diversified Holdings
The Koch Family’s fortune is derived from Koch Industries, a conglomerate formed by Fred C. Koch in 1940 that has grown to become one of the largest privately held firms in the United States and is worth an estimated $116 Billion and is third on the list.
The Koch family is one of America’s wealthiest families, well known for their vast interests in the energy sector and diverse assets.
Koch Industries engages in a variety of industries, including oil refining, chemicals, energy, and consumer products, making it a major player in the worldwide market. The Koch family has also made significant donations to political and philanthropic organizations, campaigning for free-market ideals and funding a variety of educational endeavours.
2. The Mars Family: Candy and Pet Food
The Mars Family controls Mars, Inc., which was founded in 1911 by Frank C. Mars and has since grown to become a global leader in candy and pet care products such as M&Ms, Snickers, Pedigree, and Whiskas and is worth an estimated $117 Billion is second on the list.
1. The Walton Family: Retail
The Waltons control Walmart, which began as a single store that Sam Walton built in Rogers, Arkansas, in 1962. The store has expanded to nearly 10,000 locations across 19 countries, generating $648 billion revenue in 2024 fiscal year and is worth an estimated $267 Billion.
Walmart has a market valuation of about $486 billion, and an estimated 45% of its shares are owned by seven members of the Walton family.
The family is the richest in America, mostly because they own Walmart, the biggest retailer in the world.
Source: Vanguard
Have a press release, feature, article for publication? Send it to us via Whatsapp on +233543452542.
