The Great Businesses In The World
In June, Credit Suisse presented the "CS Global Family 900 universe", a ranking that brings together the 920 largest family businesses in the world. The 920 companies are in 35 countries around the world, and 64% of them are in Asia. The companies in the ranking are listed on the stock exchange with a market value of at least one billion dollars, and the families that run them have at least 20% of the shares of the business.
"In more developed markets, we see more fragmented properties and many families selling their businesses. Frequently cited, statistics from the Institute of Family Affairs show that only a third of family businesses last up to the second generation, 12% to the third and only 3% to the fourth," reveals the Credit Suisse report.
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| Great businesses in the world |
Some of these companies have been controlled by families over all generations, and none of them have been spared from problems coming from within the family itself. Many of these companies have a history of public quarrels between relatives, while the history of others is reminiscent of the iniquities committed to doing business with Hitler, notes Business Insider.
Here are, according to Credit Suisse, the 20 largest family businesses in the world:
- Industry: Information
- Technology
- Country: U.S. Market
- Value: $225 billion Family: Zuckerberg
Mark Zuckerberg has involved his family in the management of Facebook. His sister, Randi, was the company's chief marketing officer, after which he opened his own business. Zuckerberg offered his father 2 million Facebook shares to thank him for borrowing it in the company's first days of existence.
Walmart
- Industry: Supermarkets
- Country: US
- Market Value: $241
- billion Family: Walton
The Walton family owns half of Walmart, through the Walton Enterprises entity, Thomson Reuters reports. The 50% stake is enough to allow five family members to existing in the ranking of the richest people in the world. Brothers Rob and Jim Walton are on the company's board of directors and sister Alice and sister-in-law Christy, respectively, have fortunes of $35 billion. Cousins Ann Walton Kroenke and Nancy Walton Laurie are also billionaires, owning a huge number of shares in the company. Last month, Rob Walton's son-in-law Gregory Penner became Walmart's president.
Roche
- Industry:
- Health Country: Switzerland
- Market Value: $254
- billion Family: Hoffmann-Oeri
Fritz Hofmann-La Roche founded the cough syrup company a long time ago. His descendants own at least half of the company, according to Bloomberg. The Hoffmann-Oeri family controls the future of the company through their voting rights. The family has at least 8 billionaires, including Dr. Andreas Oeri and Andre Hoffmann, who are on Roche's board of directors.
Novartis
- Industry:
- Health Country: Switzerland
- Market Value: $279
- billion Family: Sandoz
Novartis is one of the largest drug manufacturers in the world, established in 1996 after a merger between Sandoz and Ciba-Geigy. Currently, the descendants of Edouard Sandoz (who founded Sandoz in 1886) own a large part of the shares of Novartis. Sandoz Family Foundation is the company's largest shareholder and its president, Pierre Landolt, has a major role in the board of directors of Novartis.
Nike
- Industry: Sports Equipment
- Accessories Country: US Market Value:
- $88.2 billion Family: Knight
Phil Knight has been the face of the Nike brand since its inception in 1964. Last month, however, Nike announced that Knight would resign as president no later than. His son, Travis Knight, will take over the reins of giant Nike.
Kinder Morgan
- Industry:
- Energy Country: US
- Market Value:
- $90 Billion Family: Kinder
After leaving Enron, Richard Kinder founded Kinder Morgan in 1997. With a huge portfolio of gas and oil pipelines, the company is a giant in the field. Kinder and his wife, Nancy, are convinced philanthropists and act through the Kinder Foundation in Houston.
Volkswagen
- Industry:
- Auto Country: Germany
- Market Value: $120
- billion Family: Piech-Porsche
Many members of the Piech-Porsche family own shares in Volkswagen through Porsche Automobile Holding. These are the descendants of Porsche founder Ferdinand Porsche, who was a member of the Nazi party and designed the first Volkswagen model for Adolf Hitler. Currently, at least five members of the Porsche family are on the Volkswagen board. VW owns powerful brands such as Porsche, Audi, and Bentley.
Samsung Electronics
- Industry:
- Technology Country:
- South Korea Market Value: $174
- billion Family: Lee
Lee Kun-Hee has turned his father's company, Samsung Group, into a global conglomerate. He is the president of Samsung Electronics, while his son, Jay Y. Lee, is vice president. Daughters Boo-Jin and Seo-Hyun also hold senior positions at Samsung. In 2014, a judge dismissed a lawsuit filed against Lee Kun-Hee by his sisters, who suggested he had stolen Samsung's shares, to which they were also entitled.
Oracle
- Industry: Information
- Technology
- Country: U.S. Market
- Value: $192 billion Family: Ellison
Larry Ellison is Oracle's president and chief technology officer. Ellison is the third richest man in the U.S. In 2014, he stepped down as oracle's chief executive officer. His children, Megan and David, have shares in Oracle, but most likely they will not take over the helm of the company because they are passionate about filmmaking.
Anheuser-Busch InBev
- Industry:
- Food Country: Belgium
- Market Value:
- $197 billion Families: Lemann, Sicupira, Telles
Financial group 3G Capital was behind the 2008 merger that led to the creation of Anheuser-Busch InBev. Currently, the head of 3G Principal, Jorge Paulo Lemann, the richest man in Brazil, is the largest shareholder of the brewer. Its partners, Carlos Sicupira and Marcel Herrmann Telles, also own numerous shares in the company. Together, the three men own 26% of ABInBev. Lemann and Telles are on the company's board of directors.
Cheung Kong Holdings/CK Hutchison Holdings
- Industry:
- Finance Country:
- Hong Kong Market Value:
- $36 Billion Family: Li
After a massive reorganization last month, Cheung Kong Holdings has transformed into CK Hutchison Holdings. Li Ka-Shing, the richest man in Asia runs this company with his family. I founded the company in the 1950s and now run it with his son, Victor. His other son, Richard, is also a billionaire.
Carnival Corporation
- Industry:
- Tourism Country: US
- Market Value:
- $37 Billion Family: Arison
Brothers Micky and Shari Arison own shares in Carnival, the cruise ship operator set up by their late father, Ted. Micky is president and a former managing director of Carnival and owns the Miami Heat team. Shari owns his own investment firm in Israel and is one of the richest people in the Middle East.
Phillips 66
- Industry:
- Energy Country: U.S.
- Market
- Value: $43 billion Family: Phillips
The gas producer was founded by Frank and L.E. Phillips in 1917 as Phillips petroleum company. In 2002, the company merged with Conoco, resulting in the giant ConocoPhillips. Ten years later, Philips parted ways with Conoco and took the name Philips 66. The Phillips family remained the largest shareholder in the company.
Reliance Industries
- Industry:
- Energy Country: India
- Market Value:
- $45 billion Family: Ambani
The Ambani family is the richest in India. Mukesh Ambani is the president and managing director of the company founded by his father, Dhirubhai. Mukesh's wife, Nita, has a major seat on the board of directors, and son Akash and daughter Isha are on the boards of the company's retail and telecom units.
Richemont
- Industry: Luxury
- Products Country: Switzerland
- Market Value:
- $46 billion Family: Rupert
South African billionaire Johann Rupert founded the luxury goods conglomerate after taking over his father's tobacco company. Today, Richemont is the second-largest manufacturer of luxury products in the world, after LVHMH, with brands such as Cartier, Montblanc, and IWC in its portfolio. The Rupert family remains the company's main shareholder.
Foxconn
- Industry: Information
- Technology
- Country: Taiwan Market Value: $49 billion.
- Family: Gou
Foxconn, officially known as Hon Hai Precision, manufactures components for companies such as Apple, Dell, Microsoft, HP, and others. The company founded by Terry Gou was investigated in 2012 by the New York Times, which wrote about the HEAVY working conditions and high suicide rate recorded in Foxconn factories in Asia.
Sun Hung Kai Properties
- Industry:
- Finance Country:
- Hong Kong Market Value:
- $49 billion Family: Kwok
The Kwok brothers are billionaires due to the work of the real estate company founded by their father, Tak-Seng. Walter Kwok resigned from the company after an argument with his brothers, Thomas and Raymond. Thomas later resigned as well, after the judiciary determined he had bribed several Hong Kong officials. Raymond is the president of the company, along with his sons, Edward and Adam. Walter, Thomas, and Raymond's mother, Siu-Hing Kwong, are the main shareholders of the company. Kwong was president of the company when he managed to establish a truce between the brothers.
McKesson
- Industry:
- Health Country: US
- Market Value:
- $55 billion Family: McKesson
The McKesson Company was founded by John McKesson and Charles Olcott in 1833. Currently, the company is one of the largest in the U.S. and the leader in the distribution of pharmaceuticals and medical IT logistics. McKesson's descendants own a large portion of the shares.
SoftBank
- Industry:
- Telecommunications
- Country: Japan Market Value:
- $72 billion Family: Son
Masayoshi Son is the second richest man in Japan, thanks to the telecom company he founded in 1981. Beyond its businesses (mobile, internet, and e-commerce), SoftBank owns 80% of Sprint and 32% of Alibaba. Son prepares to leave the helm of the company and prepares a new general manager to take his place.
Tata Consultancy Services
- Industry:
- Technology Country: India
- Market Value:
- $80 billion Family: Dad
Like most tata group subsidiaries, Tata Consultancy Services is owned by Tata Sons. According to the Tata Sons website, 66% of the company's shares are owned by entities owned by the Tata family. The company has its origins in 1868, being founded by the businessman Jamsetji Tata.
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