Mon. Feb 26th, 2024
45 American Families with a Net Worth Exceeding $10 Billion, Waltons Surpass Elon Musk in Wealth

According to Forbes, there are 45 American families with a net worth of at least $10 billion. The wealthiest family, the Waltons, is worth approximately $267 billion as of January 16, with their combined net worth exceeding Elon Musk’s net worth of about $202 billion. Together, these 45 super-rich families have an estimated total net worth of roughly $1.3 trillion, which is ten times that of Warren Buffett’s personal fortune.

The second wealthiest family, the Mars family, possesses a fortune of $117 billion. Other notable families such as Koch, Lauder, Hearst, and Marriott are also listed. However, prominent names like Carnegie and Vanderbilt have been omitted from the rankings for various reasons including stock-price performance and legal disputes. The descendants of John D. Rockefeller barely made Forbes’ list with a fortune of $10.3 billion due to factors such as taxes on stock sales and charitable giving.

Many of America’s wealthiest families built their fortunes by establishing the country’s largest private companies or maintaining ownership stakes in public companies they helped build. For example, the Cargill-MacMillan family is worth over $60 billion due to their ownership of about 88% of Cargill, a major ingredients company. Others still maintain ownership stakes in public companies like the Dorrance family with nearly 40% of Campbell Soup and the Brown family with about half of Brown-Forman.

Some families have sold their stakes in businesses like the Busch family who sold its stake in Anheuser-Busch to InBev in 2008 and the Haslam family who sold their stake in Pilot Travel Centers for about $13 billion to Warren Buffett’s Berkshire Hathaway over several years. Despite these differences in ownership structure or business focus, all these super-rich families share one commonality: building vast generational wealth through lasting businesses that can be kept within the family or taken private or sold when beneficial to do so.

By Editor

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