How the world’s ten richest families fared during the pandemic

Share your love

While vaccination advances throughout the world, protocols gradually begin to disappear and a normality somewhat similar to what we lived before March 2019 is returned. However, the year and a half of pandemic generated immense economic crises In many countries on the planet – Argentina was no exception – and more than one family had a hard time.

However, those who did not have a bad time were those who have the most, the richest families in the world. According to a ranking published by the renowned company Bloomberg, 25 of the wealthiest families in the world added to their assets u $ s312 billion from August 2020 to today.

For what reasons could this have happened? Bloomberg states that the richest people on the planet owe a lot to the pandemic, since his fortune was notably increased for reasons related to covid-19 and new ways of living.

Notably The list below excludes the billionaires first generation, those fortunes controlled by a single heir and family clans whose source of wealth is too diffuse or opaque to be valued.

Walton: wealth of $ 238.2 billion

The company that runs Walmart managed to make the supermarket the world’s largest retailer by revenue, with sales of $ 559 billion in more than 10,500 stores worldwide. In addition, the opening of products that this business has opened a source of opportunities during the pandemic-quarantine stage.

The family Walton owns the 48% of the chain, a participation that is the basis of the world’s greatest fortune. Meanwhile, members have sold shares worth $ 6 billion this year.

March: riquera of u $ s 141.9 mil millones

The family may not be as well known, but the goodies that make sure you ate them from time to time. Frank Mars, was the one who created the company that develops the bars of M&Ms, Milky Way y Snickers, among many other things.

Read Also   The US reported more than a million cases of coronavirus in one day, a world record

However, another of the company’s facets is also present: pet care products. These represent about half of the $ 39.2 billion in company revenue.

Koch: wealth of $ 124.4 billion

After a fraternal dispute between the brothers Frederick, Charles, David y William -that they inherited the oil company from their father Fred– only two of the four decided to stay in charge of the company.

Since then, it has become Koch Industries, a conglomerate with annual revenue of about $ 115 billion. Spring Creek Capital, an asset management arm of Koch Industries, invested in more than 250 special-purpose acquisition companies in 2021.

Hermès: wealth $ 111.6 billion

The French luxury fashion company – famous for its Birkin bags, which can cost hundreds of thousands of dollars– owns the sixth generation family. Among the members who hold senior positions in the company are Pierre-Alexis Dumas, artistic director of the company, and Axel Dumas.

Revenues in the company’s watch division almost doubled in the first quarter compared to the previous year. The readings of this phenomenon are various, but it is clear that the openings in Europe They gave the possibility for people to access these luxuries.

Al Saud: wealth of $ 100 billion

It is the monarchy that gives its name to Saudi Arabia 89 years ago and his total wealth is truly incalculable. The net estimate is based on accrued payments estimated to have been received by family members during the last 50 years of the Royal Diwan, the executive office of the king. But the total wealth controlled by the 15,000 members extended estimates is likely to be much higher.

Read Also   After a Long Battle With Cancer, Singer Traci Braxton Passes Away

How did they build their fortune? Through land agreements and the foundation of companies that provide services to state-owned companies, such as Saudi Aramco. The crown prince Mohammed bin Salman, son of the seventh monarch of Saudi Arabia, King Salman, personally controls assets worth more than $ 1 billion.

And in order not to walk with little ones, the Saudi royal prince Alwaleed sold part of its stake in the hotel chain Four Seasons to the investment vehicle Cascade from Bill Gates for $ 2.2 billion in September.

Ambani: wealth of $ 93.7 billion

Dhirubhai Ambani, the father of Mukesh y Anil, began to build the precursor of Reliance Industries in 1950. Dhirubhai passed away in 2002 and left a problem: did not write a will. Ambani’s widow decided to negotiate an agreement with her children to control the family fortune.

Currently, Mukesh is in command of the Mumbai-based conglomerate, which owns the largest oil refining complex in the world. He also lives in a 27-story mansion that has been considered the most expensive private residence in the world.

Wertheimer: wealth of $ 61.8 billion

Brothers Alain y Gerard Wertheimer they have the benefits of financing from their grandfather to the designer Coco Chanel in 1920 and Paris. His family owns the fashion house which had an income of $ 10.1 billion in 2020 and they own racehorses and vineyards.

Also, his half brother, Charles Heilbronn, runs the family office Mousse Partners. After all, a family with a lot of money.

Johnson (Fidelity): wealth of $ 61.2 billion

The Boston Mutual Fund Empire was founded by Edward C. Johnson II in 1946 and is now run by his granddaughter, Abigail. The firm has responded to the shift from actively managed funds in favor of low-cost index funds by launching zero-spend rate funds and building a digital asset arm.

Read Also   Top 10 Best Brown leather purses For 2021

Thomson: wealth of $ 61.1 billion

The wealthiest family fortune in Canada originated in the early 1930s when Roy thomson opened one radio station in Ontario. After that, he branched out into newspapers and became the main owner of the country.

The family has an approximately two-thirds stake in the financial data and service provider Thomson Reuters through the investment firm Woodbridge. Generated more than US $ 6 billion in revenue last year.

Boehringer, Von Baumbach: wealth of $ 59.2 billion

German Pharmacist Boehringer Ingelheim which was founded in 1885 by Albert Boehringer, currently investing in private capital through Family Office Profunda.

The company’s type 2 diabetes drug is the best-selling: generated $ 2.9 billion in revenue in 2020.

Article Source

Share your love