Meet world's richest families 2024: Mukesh Ambani's family stands on...

The Walton family, owners of retail giant Walmart, has claimed the top spot on Bloomberg’s World’s Richest Families 2024 list with a staggering wealth of USD 432.4 billion. This puts them ahead of even Elon Musk, the world’s richest individual, and several Middle Eastern royal families. Two Indian families, the Ambanis of Reliance Industries and the Mistrys of Shapoorji Pallonji, have also made their mark on this prestigious list, ranking eighth and 23rd, respectively.

The Dominance of the Walton Family
The Walton family regained the number one position on the Bloomberg richest families index, thanks to an 80% rise in Walmart shares this year. This increase in stock value added a whopping USD 172.7 billion to their combined fortune. To put it into perspective, their wealth grew by approximately USD 473.2 million every day or USD 328,577 per minute. The Waltons own a 46% stake in Walmart, which operates over 10,600 stores globally and remains one of the largest consumer retail businesses.

Other Families in the Top 5
The Al Nahyan Family (UAE): Ranking second, this royal family is worth USD 323.9 billion. Ruling the oil-rich United Arab Emirates, the Al Nahyans have played a pivotal role in shaping the region's economy. Their wealth largely comes from their dominance in oil and their control over significant Abu Dhabi-based businesses. Sheikh Mohammed bin Zayed Al Nahyan, the UAE president, is a prominent family member.

The Al Thani Family (Qatar): With a net worth of USD 172.9 billion, the Qatari royal family takes the third spot. Their fortune stems from the country's vast offshore gas and oil reserves, which have positioned Qatar as a major energy supplier worldwide. The Al Thani legacy spans eight generations and has weathered historical empires like the Ottomans and British.

The Hermès Family (France): Owners of the iconic luxury goods brand Hermès, this family ranks fourth with a fortune of USD 170.6 billion. Six generations of the family have built the brand, which is known for its high-end fashion and accessories. Key members like Axel Dumas and Pierre-Alexis Dumas play leadership roles in the company.

The Koch Family (USA): Coming in fifth, the Koch family boasts a wealth of USD 148.5 billion. Their wealth is rooted in oil and diversified industrial interests.

Indian Families on the List
India’s Ambani and Mistry families have also earned spots on the list.

Ambani Family: Ranked eighth, the Ambanis are worth USD 99.6 billion. Reliance Industries, their flagship company, is a leading conglomerate driving much of their wealth. The family spans three generations and continues to dominate India’s business landscape.

Mistry Family: At 23rd place, the Mistrys of Shapoorji Pallonji Group are worth USD 41.4 billion. Their legacy spans five generations, with the group excelling in construction and diversified industries.

Other Notable Families
Some other well-known names in the top 15 include Saudi Arabia’s Al Saud family (6th), the Mars family (7th, known for their candy empire), and the Wertheimers of Chanel (9th). These rankings are based on wealth as of December 5, 2024, and exclude first-generation fortunes or single heirs. Bloomberg’s report provides an insightful glimpse into the world’s most affluent and influential families.