Name: How The Richest Families In America Made Their Fortunes
Uploaded: 2024-02-14T21:01:10.000Z
Duration: 4 min 14 s
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A billion dollars isn't what it used to be, especially when it's shared across multiple generations.

To qualify for this edition of a semi-regular ranking of the richest families in the US, you need to be worth at least 10 billion dollars.

45 clans make the cut, including storied names like the Rockefellers, Hursts and Hunts.

Their aggregate wealth totals 1.3 trillion dollars.

But other famous dynasties, the Kennedys and the Gettys, to name two, just aren't wealthy enough.

Here are the top five decabillionaire families in the US.

Abigail Johnson, the granddaughter of Fidelity Investments founder Edward C. Johnson II, became CEO of the mutual fund giant in 2014 and chairman two years later.

Under her leadership, Fidelity's assets have ballooned to 4.4 trillion dollars from 2 trillion dollars while expanding sustainable funds embracing Bitcoin.

Abigail's brother, Edward IV, runs investment firm Pembroke Real Estate, which is owned by Fidelity.

Her father, Edward Ned Johnson III, who died in 2022, ran the firm for four decades.

Number four, the Cargill-MacMillan family.

The extended Cargill-MacMillan family, which includes 21 individual billionaires, owns an estimated 88% of Cargill, the largest private company by revenue in the US.

Founded in 1865 by W.W. Cargill as a grain storage company,

the firm, which has 177 billion dollars in revenue, is a major player in grain and is involved in meat packing and energy trading.

Whitney McMillan, who died in 2020, was the last family member to serve as chief executive officer from 1976 to 1995.

Charles Koch took over what became the conglomerate Koch Industries when his father, Fred, died in 1967.

It had 125 billion dollars of revenue in 2022.

Koch industries has its fingers in everything from oil refining and fiber optics to paper towels.

Charles and Julia Koch, the widow of his brother David, who died in 2019, both have a 42% voting stake.

Siblings Bill and Frederick were brought out by Charles and David in 1983,

prompting two decades of litigation over the payout⏤reportedly around 800 million dollars.

His Stand Together nonprofit network and Koch Industries each contributed 25 million dollars to a Super PAC that endorsed Nikki Haley for president.

Siblings Jacqueline and John Mars, along with the four daughters of their brother Forrest Junior, who died in 2016, own candy and pet food giant, Mars.

The McLean, Virginia-based company owns dozens of iconic brands, including M&M's, Snickers, Ben's Original rice, and Pedigree dog food.

It posted revenue of 47 billion dollars in 2022.

John, now 88, was the last family member to serve as CEO before he stepped down in 2001.

Jacqueline's son, Steven Badge, and Forrest Junior's daughter, Victoria, sit on the board.

Despite selling roughly 22 billion dollars of Walmart stock over the past decade and giving $11 billion worth away,

the seven billionaire descendants of company co-founders Sam and Bud Walton, both of whom died in the 1990s, still own an estimated 45% of the retail giant's shares.

Sam's eldest son, Rob, sits on Walmart's board alongside Rob's nephew, Stewart, and son-in-law Greg Penner,

who replaced Rob as the retailer's chairman in 2015 and is controlling owner of the NFL's Denver Broncos in October.

The family's fortune is enhanced by the seven sports teams owned by Stan Kroenke, the husband of Bud's daughter, Anne Walton Kroenke.

Those include the Los Angeles Rams and British soccer powerhouse Arsenal.

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How The Richest Families In America Made Their Fortunes

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