The Walton family, renowned for founding retail giant Walmart, has been crowned the wealthiest family in the world, with a record-breaking net worth of $432.4 billion, according to Bloomberg’s annual ranking released on December 12.
Walmart, established 62 years ago, has grown into the world’s largest retailer by revenue, with 10,600 stores worldwide generating $648 billion annually. Remarkably, Walmart accounts for only 70% of the Walton family’s wealth. Diversifying their portfolio, the family has invested in areas like sports, arts, and philanthropy.
Their wealth has ballooned by $172.7 billion in the past year, largely due to an 80% surge in Walmart stock. This growth placed the Waltons ahead of Emirati royals, marking them as the reigning financial titans on the global stage.
The foundation of this vast fortune was laid by Sam Walton, who strategically divided his wealth among his children to maintain family control and ensure long-term growth. Since his passing in 1992, his heirs have adhered to a principle of unity, which has been pivotal in preserving their financial empire. Walton Enterprises, the family’s investment arm, has been instrumental in consolidating and growing their Walmart stake.
“When you empower individuals to pursue and support their own interests, the ROI is not only financial,” said Nicole Clabaugh, vice president of client operations at Aquilance, in an interview with Bloomberg. “It also gives them a sense of ownership in the preservation of wealth.”
Following the Waltons, the Al Nahyan family of the UAE ranks second with $323.9 billion, and the Al Thani family of Qatar is third with $172.9 billion, according to the Bloomberg World’s Richest Families 2024 report. Both families have capitalized on oil reserves, elevating their influence on the global stage.
Rounding out the top five are the Hermès family, with $170.6 billion from their luxury goods empire, and the Koch family, valued at $148.5 billion, known for their industrial ventures and significant political influence in the U.S.
Collectively, the 25 families on Bloomberg’s list saw their fortunes grow by $406.5 billion this year. Notable newcomers include Israel’s Ofer family and Thailand’s Chearavanont dynasty, signaling that the art of wealth preservation continues to evolve across the globe.
World’s Richest Families for 2024
- Walton — $432.4 billion (United States)
- Al Nahyan — $323.9 billion (UAE)
- Al Thani — $172.9 billion (Qatar)
- Hermès — $170.6 billion (France)
- Koch — $148.5 billion (United States)
- Al Saud — $140 billion (Saudi Arabia)
- Mars — $133.8 billion (United States)
- Ambani — $99.6 billion (India)
- Wertheimer — $88 billion (France)
- Thomson — $87.1 billion (Canada)
- Johnson (Fidelity Investments) — $72.4 billion (United States)
- Albrecht — $60.2 billion (Germany)
- Pritzker — $59.4 billion (United States)
- Cargill/MacMillan — $56 billion (United States)
- Ofer — $55.6 billion (Israel)
- Hoffmann/Oeri — $53.8 billion (Switzerland)
- Hartono — $47 billion (Indonesia)
- Quandt — $46 billion (Germany)
- Chearavanont — $44.1 billion (Thailand)
- Duncan — $43.8 billion (United States)
- Van Damme/De Spoelberch/De Mevius — $43.7 billion (Belgium)
- Boehringer/Von Baumbach — $43 billion (Germany)
- Mistry — $41.4 billion (India)
- Newhouse — $38.8 billion (United States)
- Ferrero — $37.4 billion (Italy)