Al Saud Family, Ambani family among the World’s top richest families

The list of the world’s 25 richest families has come out. Surprisingly, Saudi Arabia’s royal family has been ranked as number 4th in the list whereas India’s Ambani family has been ranked number 5th in the list. 

Here are the top five richest families of the world, listed by international news source Bloomberg.

1. The Walton family

Net worth: $215 billion

Source of wealth: Walmart

Walmart was found in 1962 in Rogers, Arkansas. International sources say that it is the largest retailer by revenue in the world. Walmart reported record sales of $514.4 billion in 2018.

2. The Mars family

Net worth: $120 billion

Source of wealth: Mars Inc.

Jacqueline and John Mars inherited a stake in Mars Inc. International sources say that Jacquelyn’s son, Stephen Badger, was formerly chairman and is currently on the board of directors of the privately-held Mars Inc. According to Bloomberg, the company makes more than $38 billion in annual revenue.

3. The Koch family

Net worth: $109.7 billion

Source of wealth: Koch Industries

Brothers Charles and David Koch developed their father’s oil refinery into Koch industries. David Koch died in 2019, leaving $53 billion fortune to his wife Julia Flesher Koch. Bloomberg reported that Koch industries create $115 billion in revenue annually.

4. The Al Saud Family

Net Worth: $95 billion

Sources of Wealth: oil

Saudi Arabia’s royal family has secured a fourth position on the list. Bloomberg says that the Saudi Royal family gains wealth from Saudi Arabia’s oil industries and the royals’ personal earnings from negotiating government contracts and other investments.

Prince Mohammad Bin Salman possesses assets worth more than $1 billion.

5. The Ambani family

Net worth: $81.3 billion

Source of wealth: Reliance Industries

Ambani family is the only Indian family that has made way to the list. The source of wealth is Reliance Industries, a conglomerate in India that owns the biggest oil refining complex in the world. Mukesh Ambani, the CEO, lives in a 27-story, 400,000-square-foot mansion in Mumbai.

Other families in the list (with net worth) include The Dumas family ( $63.9 billion), The Wertheimer family ($54.4 billion), The Johnson family ($46.3 billion), The Boehringer and von Baumbach families ($45.7 billion), and The Albrecht family ( $41 billion).