Bloomberg Unveils List Of World’s 25 Richest Families This Year

 Bloomberg has released its list of the world’s 25 richest families, with familiar faces topping the charts.

The Walton Family has topped the list of the world’s 25 richest families for the fourth straight year, with a combined net worth of $224.5 billion.

Bloomberg News unveiled its annual list of the 25 largest family fortunes worth an estimated $1.5 trillion, a decline of $143 billion Bloomberg claims. The combined wealth drop for the richest families is attributed to this year’s market turmoil, despite the tendency of wealthy families to keep their companies private, Bloomberg observes. Most of the families’ fortunes are held in longtime companies based in North America, Europe or Asia, Bloomberg specifies.

Soaring inflation has cut into the Walton family’s fortune by dissuading shoppers and reducing Walmart’s profit margins, Bloomberg notes.  The family has made efforts to diversify its holdings with an investment portfolio of venture capital, real estate and index funds, according to Bloomberg. They currently own 47% of Walmart, the world’s largest retailer by revenue, Bloomberg notes. 

Rising commodities prices have been a boon to families in particular industries, Bloomberg notes. The Cargill and MacMillan families saw their beef and grain revenue surge 23% this fiscal year, adding $13.6 billion to their fortunes, Bloomberg calculated. Oil dynasties such as the Koch Industries and the Saudi royal family, have reaped similar gains, landing them third and fourth on Bloomberg’s list.

Other family fortunes have seen noticeable declines in wealth, Bloomberg calculated. The Lauder family of Lauder cosmetics giant Estee Lauder has lost a third of its wealth, and the founding family of Fidelity Investments has lost 34% of its wealth, Bloomberg reports.

Bloomberg’s figures are as of October 19th, 2022. Their rankings exclude family fortunes too difficult to tabulate. First generation fortunes and those controlled by a single heir are also excluded from Bloomberg’s rankings.

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