World’s Richest Families 2024: Waltons Lead, Ambanis At 8th Spot

Bloomberg has released its World’s Richest Families 2024, showcasing family wealth sustained across multiple generations. The Waltons, owners of Walmart, dominate the list, while India’s Ambanis and Mistrys also earn significant spots.

Top 5 Wealthiest Families in 2024

1. Waltons of Walmart – $432.4 Billion
   • The Waltons, spanning three generations, own a 46% stake in Walmart, the world’s largest retail chain with over 10,600 stores.
   • An 80% surge in Walmart shares this year added a staggering $172.7 billion to their fortune, equivalent to earning $473.2 million daily.
2. Al Nahyan Family – $323.9 Billion
   • The ruling family of UAE, powered by oil wealth and diversified investments, controls 65% of Abu Dhabi’s stock index.
3. Al Thani Family – $172.9 Billion
   • Originating from Qatar’s gas and oil reserves, this royal family’s wealth spans eight generations and plays a vital role in the country’s stability.
4. Hermès Family – $170.6 Billion
   • The French luxury brand Hermès, managed by six generations of the family, continues to dominate high-end fashion worldwide.
5. Koch Family – $148.5 Billion
   • The Kochs, now in their third generation, maintain wealth through oil and diversified industrial businesses across the US.

Indian Families in the Global Spotlight

1. Ambani Family (Rank 8) – $99.6 Billion
   • The Ambanis, led by Mukesh Ambani, manage Reliance Industries, spanning energy, telecom, and retail sectors.
   • Over three generations, the family has built a vast empire that continues to expand globally.
2. Mistry Family (Rank 23) – $41.4 Billion
   • The Shapoorji Pallonji Group, a five-generation Indian conglomerate, excels in construction, engineering, and real estate.
   • The family has contributed to iconic global projects, adding to its legacy.

Criteria for the Rankings

Bloomberg excluded first-generation wealth and single-heir fortunes, focusing only on multigenerational family legacies. The wealth data, calculated as of December 5, 2024, highlights families with clear and strategic investments.

Conclusion

The World’s Richest Families 2024 list underscores the enduring influence of generational wealth and visionary leadership. The Waltons remain unparalleled at the top, while Indian families like the Ambanis and Mistrys showcase India’s growing global economic power.