The richest 25 dynasties on earth control £1.16 TRILLION as it is revealed that the world's wealthiest families see their fortunes grow by millions of pounds every HOUR
- The world's 25 wealthiest families own $1.4 trillion, up $250 billion from last year
- Walton family, behind US Walmart Inc. , accumulates $4 million more every hour
- America's richest 0.1 per cent possess more wealth than they have since 1929
Bloomberg's ranking of the world’s richest families has revealed how heirs at the top of the list are watching their fortunes grow by millions of dollars every hour.
Currently ranked the world's richest family, The Walton family, behind US super-giant Walmart Inc., is accumulating $4 million more every hour.
Heirs of Walmart founder and entrepreneur Sam Walton are amassing wealth on an unprecedented scale, $70,000 every minute - while employees starting work as a cashier at their stores can expect to earn just $11 an hour.
Wal-Mart founder Sam Walton (centre) and his family is displayed at the Wal-Mart museum, March 17, 2005 in Bentonville, Arkansas
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Moving up the Bloomberg rich list, the family has seen their fortune grow from $191 billion in June when they topped the list, to around $230 billion now - ever increasing.
And they are not the only family amassing an inexhaustible fortune - the world's 25 wealthiest families now own $1.4 trillion in wealth, up $250 billion, almost a quarter, from last year, reports Bloomberg.
According to Bloomberg's evaluation America's richest 0.1 per cent possess more wealth than they have since 1929.
Elsewhere in Asia and Europe the pattern continues with those topping the rich list also becoming more wealthy at incredible speed.
The Mars Family: Jacqueline Mars (centre), and her granddaughters, Graysen Airth (left), and Katherine Burgstahler
Other families which top the rich list include the Mars family, with a confectionery fortune of $127 billion - which has grown by $37 billion since last year.
The Kochs followed shortly behind with their $125 billion ranking. The family made their billions in a business founded in crude oil, which has become a large US political donor.
Billionaire heirs are themselves stepping up to suggest a solution to the mass inequality caused by capitalism, suggesting more taxes for those with extreme wealth.
Liesel Pritzker Simmons, 17th on the Bloomberg rich list told Bloomberg: 'If we don't do something like this, what are we doing, just hoarding this wealth in a country that's falling apart at the seams?
'That's not the America we want to live in.'
The Saudi Arabian Royal family were a new addition to the rich list this year, worth around $100 billion, reports Bloomberg.
Julia Koch and David Koch attend The School of American Ballet's 2017 Winter Ball at David H. Koch Theatre on March 6, 2017 in New York City
The Al Saudi family are thought to have accumulated wealth from payouts from the Royal Diwan, the King's executive office, over the last 50 years.
Mukesh Ambani made headlines in 2010 when his £768million ($1billion) residence Antilia was unveiled in Mumbai. The 27-storey abode has three helicopter pads, underground parking for 160 cars, and requires some 600 staff to run
They also have founded state supporting companies including oil company Saudi Aramco, the world's most profitable business - which its chairman Crown Prince Mohammed bin Salman has plans to take public at a $2 trillion valuation.
Coming number nine on the list is India's richest family, The Ambanis. Mukesh Ambani, a teetotal vegetarian, bought the iconic British toy store Hamleys for £67million in May this year.
He initially made his fortune in oil refining and petro-chemicals before branching out into everything from telecoms to cable networks and tech firms.
In recent years, he has massively expanded his retail portfolio and carved deals for his business to work with key fashion labels including Canali, Burberry, Armani, Bottega Veneta, Just Cavalli and Jimmy Choo.
However the list is not exhaustive, with many families such as the Rothchilds too difficult to assess, as their wealth is dispersed around the globe - meaning they are not placed on the list.
Bloomberg's world's wealthiest families 2019
1. The Walton family
Company: Walmart
Fortune: $190.5bn
The family own a 50 per cent stake in what is now the world's largest retailer. Founded by Sam Walton when he bought his first store in Rogers, Arkansas, in 1945 (now a Walmart museum). Dividends paid to the family by the business last year were around $3 billion.
The Walton family, with a 50 per cent stake in Walmart. Rob (left), Alice and Jim speak during the annual Walmart shareholders meeting event on June 1, 2018
2. The Mars family
Company: Mars
Fortune: $126.5bn
Known for the world's confectionery favourites including M&Ms, Snickers, Twix, Milky Way and Mars Bars the business began small with founder Frank Mars dipping chocolates by hand as a school-boy and remains owned by the Mars family to this day. The company acquired pet health-care company VCA in 2017 - which makes up around half of the company's $35 billion revenue.
The company's Snickers bar is reportedly named after the family's favourite horse
3. The Koch family
Company: Koch Industries
Fortune: $124.5bn
Founded in 1940 by Fred Koch the company began after Koch developed a process to refine crude oil. It is the second largest privately owned company in the US after Cargill (number 10 on this list). The company is now a Conglomerate energy company and was run by brothers David and Charles Koch, sons of Fred Koch, until recently.
David Koch ran for US vice president alongside presidential candidate Ed Clark in 1980 for the Libertarian Party, receiving 1.1% of the total nationwide vote.
The company is now a Conglomerate energy company and was run by brothers David (right) and Charles Koch (left), sons of Fred Koch, until recently
4. The Al Saud family
The ruling family of Saudi Arabia
Fortune: $100bn
A youthful monarchy of only 87 years the Al Saud family have accumulated wealth from payouts from the Royal Diwan - the King's executive office. With approximately 15,000 extended family members the true wealth of the family is expected to be higher. Members of the family have made money by founding businesses which serve the state such as the official Saudi Arabian Oil Company, Saudi Aramco - said to be the most profitable company in the world - whose chairman is Crown Prince Mohammed bin Salman.
U.S. President, Donald Trump (L) meets Crown Prince of Saudi Arabia, Mohammad Bin Salman Al Saud (L) on the sidelines of the second day of the G20 Summit at INTEX Osaka Exhibition Center in Osaka, Japan on June 29, 2019
5. The Wertheimer family
Company: Chanel
Fortune: $57.6b
Begun in the 1800s Ernest Wertheimer started make-up company Bourjois with his sons Pierre and Paul taking over by 1917 and partnering with Coco Chanel to create perfumes in 1924 - selling a 70 per cent stake to the brothers to take over production. Unhappy with the sale, Coco Chanel later tried to seize control of the company from the Jewish family with the help of the Nazi's during WWII - but was unable as the family had fled to New York. The Wertheimer family bought out Coco's share after her death in 1971.
A colourised photo of Coco Chanel in Paris, 1936 - returning to the French capital two months after opening her famous couture house she found the city was under German occupation
A classic Hermes Birkin bag which are priced from between US $11,900 to $300,000.
6. The Hermes Family
Company: Hermes
Fortune: $53.1bn
In 1837 Thierry Hermes began making riding gear for noblemen, however Jean-Louis Dumas, who died in 2010, is praised for taking the company global as an international fashion brand. Family members Pierre-Alexis Dumas, artistic director, and Axel Dumas, chairman, continue to hold roles at the company.
CEO of Hermes Axel Dumas attends a Hermes boutique opening in October 2016 in Rome, Italy
7. Belgian families: Van Damme, De Spoelberch, De Mevius
Who merged their breweries to form : Anheuser-Busch InBev
Fortune: $52.9bn
The world's largest brewing company based in Leuven, Belgium which became a collective enterprise when three families merged their well established breweries, dating from the 1400s, to form a larger brewery. The group is responsible for the classic beer Stella Artois, originally brewed as a Christmas beer in 1926.
Artois took over Dommelsch Brewery in 1968 later merging with Piedboeuf breweries in 1987 forming Interbrew. InBev was formed in 2004 when Interbrew merged with Brazilian AmBev - it then acquired US Anheuser-Busch in 2008 and became Anheuser-Busch InBev.
The logo of Anheuser-Busch InBev is pictured outside the brewer's headquarters in Leuven, Belgium February 28, 2019
8. The Boehringer, Von Baumbach family
Company: Boehringer Ingelheim
Fortune: $51.9bn
A German pharmaceutical company founded in 1885 by Albert Boehringer and is still owned by the family over a century later. The company focuses on creating drugs to treat cardiovascular disease, respiratory diseases, diseases of the central nervous system, metabolic diseases, virological diseases and oncology - selling drugs internationally.
9. The Ambani family
Company: Reliance Industries
Fortune: $50.4bn
An Indian conglomerate company which owns businesses across India engaged in energy, petrochemicals, textiles, natural resources, retail, and telecommunications. Founded in the 1960's by Dhirubhai Ambani and Champaklal Damani the company, which owns the world's largest crude oil refinery, is now run by Dhirubhai's son Mukesh (said to live in the world's most expensive private residence).
Dhirubhai Ambani is said to have moved to Mumbai with just a few rupees in his pocket, as the son of a Gujarati village school teacher according to the Times of India, his father went on to build a global-scale petroleum company in 40 years.
Mukesh Ambani, 61, decorated his towering 27-storey Mumbai home to host the marriage of his daughter Isha Ambani, 27, (right) in December 2018
10. The Cargill, MacMillan family
Company: Cargill
Fortune: $42.9bn
Members of the family still hold majority ownership for the company which is one of the world's largest producers and distributors of agricultural products including sugar, refined oil, cotton, chocolate, and salt. The company was founded in 1865 by William Cargill.
A Cargill plant dominates the landscape along Wolf Lake on the edge of Forsythe Park on January 08, 2019 in Hammond, Indiana
