Founder Sam Walton opened the first Walmart in 1962 in Arkansas. With the motto “everyday low prices,” they revolutionized the retail industry, creating a multi-billion-dollar company. Thousands of Walmart stores are scattered across America. Their descendants carry on his legacy and their wealth. Here are 10 American families who built a business empire.
Walton
Today, the Walton family is one of the wealthiest families in the world, with an estimated worth of over $260 billion. Fifty percent of the company is owned by Sam and Bud Walton’s children, including Jim and Alice Walton, pictured above. Walmart’s focus on low prices on a wide range of products has turned the retail company into a multinational corporation.
Koch
Known as the Koch Brothers, Charles and David Koch stayed with the family business their father, Fred Koch, started. Koch Industries, a multinational conglomerate corporation, deals in the manufacturing, refining, and distribution of petroleum, chemicals, energy, fiber, and other products. The family is worth an estimated $128 billion.
Mars
Who would have thought candy and pet food could be so lucrative? Just ask the Mars Family, who are worth an estimated $117 billion. The Mars Corporation is responsible for making some of our favorite candy brands, including Snickers, M&M’s, Milky Way, Twix, and 3 Musketeers. They also have a presence in the pet food industry, with Pedigree, Whiskas, and Royal Canin. Some family members still work for the company, others serve on its board of directors.
Cargill-MacMillan
Here’s a billion-dollar family you may know less about. The Cargill-MacMillan family has over 10 billionaires, bringing the family’s worth to around $45 billion. They own more than 80% of Cargill, Inc., a multinational food company that generates approximately $177 billion in annual revenue, producing corn syrup, starch, and livestock feed. I guess the grain game is quite lucrative.
Lauder
Estée Lauder made a fortune with her eponymous cosmetic company. The Estee Lauder Companies, Inc. owns over 20 big-name brands, including Tom Ford Beauty, Michael Kors, Clinique, Aveda, and more. Her sons, Leonard and Ronald, are the prominent figures and heirs to the company. The Lauder family is worth around $25 billion.
S.C. Johnson
The S.C. Johnson Company was founded in 1886 by Samuel Curtis Johnson Sr. and has stayed in the family for five generations. The current chairman and CEO is H. Fisk Johnson, the founder’s great-great-grandson. Focused initially on floor wax, the company is behind popular brands like Pledge, Windex, Raid, Glade, OFF!, and many others. The family’s net worth is estimated at $30 billion. A random fact is that the famous architect Frank Lloyd Wright designed two buildings for the company (the administrative building pictured above).
Johnson (Edward)
Fidelity is one of the world’s largest mutual fund companies. Founded in 1946 by Edward C. Johnson, the company is now run by Abigail Johnson, his granddaughter. Fidelity has managed trillions in assets. The family owns almost half of the company and their net worth is around $25 billion. As of 2023, Forbes lists the family as the 5th wealthiest family in America.
Cox
Cox Enterprises is a conglomerate with businesses in media, cable, and automotive services. The company was founded by James M. Cox in 1898 and is currently led by the third and fourth generations of the family. The Cox family’s net worth is estimated at around $35 billion. According to Forbes, they are the 10th most affluent American family. The company’s headquarters are located in Atlanta, Georgia.
Pritzker
Despite legal disputes over assets, the Pritzker family remains one of the wealthiest American families, having amassed their fortune through Hyatt Hotels. In the early 20th century, the Ukrainian immigrant A.N. Pritzker and his sons created Hyatt and invested in the conglomerate Marmon Group. Many family members are billionaires and hold critical political appointments (Illinois Governor J.B. Pritzker). The family is worth an estimated $35 billion.
Newhouse
To close out our article we look at the Newhouse family, which is worth around $18 billion. The family business was founded by Samuel Irving Newhouse Sr. in 1922 as Advance Publications. The company owns Condé Nast, which publishes Vogue, The New Yorker, Vanity Fair, and over 20 other magazines. They also have stakes in Warner Bros. Discovery, Charter Communications, and Reddit.
