The Walton family gets $100 million richer every single day
In the hour that it takes a new Walmart employee to earn the $11 starting wage, the family that owns the retail giant has banked $4 million.
In fact, the third-generation heirs of Walmart WMT, -1.44% founder Sam Walton have amassed a $191 billion fortune to top Bloomberg’s list of the richest families in the world. And that has grown by $39 billion since the Waltons topped the list last year.
The report breaks that out to the Walton fortune increasing by an eye-watering $70,000 per minute, $4 million per hour or $100 million per day.
Walmart rang up $514 billion in sales from more than 11,000 stores across the globe, Bloomberg added. And the family holding company Walton Enterprises owns a 50% stake in Walmart, which paid out $3 billion in dividends last year.
Related: How the Waltons control Walmart
It’s been a good year for all 25 of wealthiest families in the world, however, who collectively control almost $1.4. trillion in total wealth, which is a 24% increase from last year.
And American dynasties took the top three places on the elite list. The candy-making clan behind Mars Inc. is in second place with $127 billion in wealth that was sweetened by $37 billion since last year. And the industrialists/politicians behind Koch Industries take third with $125 billion.
Related: America’s 1% hasn’t had this much wealth since just before the Great Depression
The Saudi royal family lands at No. 4, with Bloomberg estimating that the House of Saud is worth $100 billion — although the report notes this is a lowball figure drawn from cumulative payouts that royal family members are guessed to have taken over the last 50 yeas from the executive office of the king. The total wealth controlled by its 15,000 extended family members from its oil reserves, land deals and government contracts is probably much higher.
Family-owned fashion houses Chanel and Hermes, the beer makers at Anheuser-Busch InBev BUD, -1.73%, as well as Nutella-makers Ferrero also rank highly on the list.
Here are the top 10 richest families in the world, as reported by Bloomberg.
The Walton family, behind Walmart: $190.5 billion
The Mars family, behind Mars: $126.5 billion
The Koch family, behind Koch Industries: $124.5 billion
The Al Saud family: $100 billion
The Wertheimer, behind Chanel: $57.6 billion
The Hermes family, behind Hermes: $53.1 billion
The Van Damme, De Spoelberch and De Mevius families, behind Anheuser-Busch InBev: $52.9 billion
The Boehringer and Von Baumbach families, behind Boehringer Ingelheim: $51.9 billion
The Ambani family, behind Reliance Industries: $50.4 billion
The Cargill and MacMillan families, behind Cargill Inc.: $42.9 billion
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