The era of the Walton family’s five-year reign as the world’s wealthiest dynasty has concluded. In the latest 2023 rankings by Bloomberg, the House of Nahyan, the influential rulers of oil-abundant Abu Dhabi in the United Arab Emirates, now claims the top spot. This displaces the third-generation heirs of Walmart, who have long held the pinnacle of wealth.
The report underscores the transformative impact of petroleum fortunes on the global business landscape, emphasizing that the three Gulf families featured in Bloomberg’s latest ranking likely possess even greater wealth than the provided “conservative estimates.” According to the report, the Al Nahyans of Abu Dhabi lead the list with a staggering $305 billion, with the United Arab Emirates capital serving as the primary repository of the nation’s oil reserves.
Surpassing the Walton family by $45 billion, the Al Nahyan family’s ascendancy is notable, given that the Waltons, who own 46% of Walmart, the world’s largest retailer by revenue, have consistently dominated the rankings in recent years. The Waltons now occupy the second position, boasting a net worth of $259.7 billion in the most recent fiscal year.
Securing the third spot is the Hermès family, whose wealth originates from the renowned French luxury house. With a total fortune of $150.9 billion, the founding family maintains a two-thirds majority stake in the company.
Among the notable American families on the list, the Mars family, renowned for their confectionary empire encompassing chocolate brands like M&Ms, Milky Way, and Snickers, as well as pet products, secures the fourth position with a substantial $141.9 billion. The Koch family, associated with Koch Industries, claims the sixth spot with a wealth of $127.3 billion.
The world’s 10 richest families of 2023, as reported by Bloomberg.
- Al Nahyan – $305 Billion – Ruling family of the United Arab Emirates, $305 billion
- Walton – $259.7 Billion – Owners of Walmart
- Hermès – $150.9 Billion – Owners of Hermès
- Mars – $141.9 Billion – Owners of Mars, Inc.
- Al Thani – $133 Billion – Ruling family of Qatar
- Koch – $127.3 Billion – Owners of Koch Industries
- Al Saud – $112 Billion – Ruling family of Saudi Arabia
- Ambani – $89.9 Billion – Owner of Reliance Industries
- Wertheimer – $89.6 Billion – Owner of Chanel
- Thomson – $71.1 Billion – Owner of Thomson Reuters in Canada
By: Montana Newsroom staff
