Where Did the Addams Family Get Their Fortune
Whether nosotros strive to be similar them or simply plain envy them, Americans are fascinated with the wealthy. We love learning more about how much the wealthy have, where they live and what they spend their money on.
We're even more than fascinated with families that have earned their fortune the one-time fashioned mode; through hard work and perseverance. This list covers some of the richest families in America, but you lot're not going to see a glory or actor on this listing. This list is full of regular people who congenital their fortune in other ways.
The Walton Family
If you haven't heard of the Walton family, yous've certainly heard of their brand. This family is the head of the Walmart empire. Founded by Samuel Moore Walton in 1962 in Arkansas, Walmart started off in rural areas in order to avoid competition with larger (at the fourth dimension) retail stores like Kmart and Sears.
Every bit the concatenation started to grow, Walton began calculation other stores to his brand. These included Sam'due south Club warehouses in 1983 and Walmart Supercenters in 1988 – which grew Walmart into the largest retail chain in the United States by 1990. Today, the whole Walton family unit's net worth is betwixt $151 and $174 billion.
While Sam Walton passed away in 1992, his stores and fortune take lived on through his family. Today, y'all tin can observe Walmart stores, Walmart Supercenters and Sam's Club warehouses in simply about every state in America. Walmart is besides a competitive thespian in the online sphere.
The Waltons continue to maintain their status as one of the richest families in the U.S. As of 2019, heirs Alice and Jim Walton hold a cyberspace worth of a whopping $92 billion and their fortune just keeps growing.
The Koch Family
The far reaching and influential Koch family empire started in 1940 when Fred Koch founded the Wood River Oil and Refining Company. It would later be renamed Koch Industries in 1968, a year after Fred Koch passed away.
Today, Koch industries is run by his sons, Charles and Fred, and is one of the largest privately held companies in America. The estimated family unit fortune is between $98 and $110 billion. The Koch brothers are known for their support of the Republican party.
The Koch Family Today
Today, Koch Industries is one of the largest privately held companies in America (second only to another privately endemic company on this list). Businesses owned by the Koch family manufacture and distribute chemicals, petroleum, paper, fertilizers, minerals and much more than.
This powerful family has truly evolved into an empire, with many well-established brands and companies to their credit. Among the many well-known brands run by the Koch family are: Georgia-Pacific, Koch Pipeline, Koch Fertilizer, Koch Minerals, Invista and Matador Cattle Company.
The Mars Family
The Mars family unit fabricated their billions with processed. Yup, y'all read that right! Like a existent-life Willy Wonka, the Mars family has been caput of the Mars Inc. empire for over 100 years. Franklin Clarence Mars started making candy at the age of nineteen when his mother taught him how to hand- dip chocolate.
In 1911, Mars started the Mars Candy Factory with his 2nd married woman. Over the years, Mars Inc. has invented treats such as Galaxy, 3 Musketeers, Twix, Snickers, Skittles and Thou&Ms. Today, their fortune is estimated at a whopping $89 billion.
The Mars Family Today
Today, Mars Inc. is nonetheless a family-run concern and is well-known for its secrecy when it comes to how exactly they manufacture their confectionary items. The visitor was passed down from Franklin Clarence Mars to son Forrest Edward Mars Sr., who passed the visitor downward to his children.
The Mars family likewise added dry pet food to their repertoire in 2007, buying Doane Pet Care Company. They besides opened Ethel Thousand Chocolates in 1978. The Mars family unit is known for being very private — many members decline to be photographed in public, with the exception of Jacqueline Mars and Victoria B. Mars (pictured to a higher place).
The Cargill-MacMillan Family
Founded in 1865 by William Cargill, Cargill, Incorporated is an agronomical giant. The mission of the company has remained the same since the company's inception – to help farmers prosper and to connect consumers to the products they want.
Passed downward over the generations, the MacMillan proper name came into play in 1909 when Cargill's son-in-law, John MacMillan, took over the business. Whitney MacMillan was the last of the Cargill-MacMillan clan to serve equally CEO of the visitor.
The Cargill-MacMillan Family unit Today
Today, Cargill, Incorporated is the largest private company in America. The family withal owns about 85 percent of the visitor and leaves over 75 percent of the net profit to be reinvested in the business the following twelvemonth, largely avoiding the need for public funding.
Cargill's ethos has remained remarkably consistent through the generations. Like the ownership, the mission of the company remains the same – Cargill focuses on the changing needs and nutrition of their customers. Today, Cargill has operations in more than 70 countries around the world.
The Cox Family
This is some other family who started amassing their fortune over a century ago. James One thousand. Cox was a publisher and politician in the late 1800s and early 1900s. Cox bought the Dayton News in 1898 and went on to buy the Springfield Daily News in 1903.
Although he was nominated for President in 1920, Cox was defeated in a landslide ballot. After his defeat, he decided to retire from politics and devote his life to his business organisation. This pivot was successful — today the family's estimated fortune is somewhere between $33.5 and $41 billion.
The Cox Family Today
The Cox family unit may have started off small with their publishing company dorsum in 1898, but take grown significantly since. The family now runs Cox Enterprises, which includes Cox Media Group (Tv set, radio and newspapers) and Cox Communications (cable and broadband).
The Cox family has too expanded into the auto business concern. Through Cox Enterprises, they own Kelley Blue Book and AutoTrader.com. In 2015, they acquired DealerTrack, which manufactures the software used by automobile dealerships. The current chair of Cox Enterprises, James Kennedy (pictured) currently holds the distinction of being the richest resident of the land of Georgia.
The Pritzker Family
Unlike some of the other families on this list, the Pritzkers made their fortune past making a smart investment and not past creating their own visitor. In 1957, Jay Pritzker tapped into his savvy entrepreneurial side when he purchased Hyatt House from Hyatt Robert von Dehn and Jack Dyer Crouch.
Pritzker realized something others hadn't – how assisting it was to take hotels near large airports. He opened two motels situated near airports in San Francisco and Seattle and the residual is history. Today, the family has an estimated net worth of $33.v billion.
The Pritzker Family Today
Though the Prizkers accept reigned over the hotel industry for decades, members of this family have also gone into politics. Penny Pritzker was the U.S. Secretary of Commerce from 2013 to 2017 and J.B. Pritzker was the co-chairman of Hillary Clinton's presidential campaign.
Past 2014, the Hyatt chain consisted of 587 properties, and since then, they accept added more properties in other countries. They program to expand even more by the year 2020 and accept started to include mindfulness and wellness experiences at their hotels. Today, the Pritzker family fortune is split amidst the thirteen members of the family.
The Johnson Family
The Johnson family unit owns Fidelity, one of the largest mutual fund companies operating today. Started in 1946 by Edward C Johnson II, Fidelity was initially known as Fidelity Direction & Research. The company afterwards created Allegiance International Express in society to branch out to international markets.
When Edward Johnson III joined the company nearly 10 years later, Fidelity officially became an entirely family owned and operated business organisation. In 1982, Allegiance began offering 401k products, and past 1984, they went all in on stock trading.
The Johnson Family unit Today
Fidelity has always been one stride ahead of its competitors in the finance game. The visitor was an early adopter of using technology to better serve their customers. The visitor purchased its beginning computer way back in 1965, decades before computers reached the mainstream.
In 1983, Allegiance opened the first e'er street-level center where customers could walk in for personal service. Today, Abigail Johnson, (pictured) daughter of Edward Johnson Iii, acts as Chairman and CEO of the company. Today the family's net worth is around $thirty billion.
The Hearst Family unit
William Randolph Hearst started the San Francisco Examiner in 1887 at the historic period of 24. He quickly grew his media empire past amassing several paper companies and eventually expanded to tv and radio. Hearst likewise went on to become a Congressman in New York in 1902.
The Hearst family unit business consists of one (giant) entity – Hearst Corp. The company now owns 340 magazines, 46 newspapers and holds major stakes in Tv channels like Lifetime, ESPN and A&E. The family unit'due south estimated fortune is $24.v billion.
The Hearst Family Today
Today, Hearst Corp is a media giant running its formidable operations out of one of the greatest landmarks in New York City – Hearst Tower. Some of the publications endemic by Hearst are Esquire, Cosmopolitan and the San Francisco Chronicle.
Hearst also owns about one-half of the Idiot box network A&E and 20 per centum of ESPN. Recently, Hearst Corp has invested in VICELAND, a new cable aqueduct from V Headed by current President and CEO Steven Swartz, the Hearst Corp fortune is now dissever between 67 family members.
The Hunt Family
Back in 1930, H.L. Hunt acquired a discovery well on the Eastward Texas oil field and founded the Hunt Oil Company four years later. The Hunt Oil Visitor went on to found the offset commercial oil well in Alabama in 1944. In the '60s, the company expanded into offshore oil drilling.
If yous've ever watched the wildly popular Tv show Dallas, you may have an idea of the personality behind the Hunt family fortune. H.L. Hunt was the inspiration behind i of Dallas' chief characters J.R. Ewing. The Hunt Oil Company's headquarters (pictured) are yet located in Dallas today.
The Hunt Family unit Today
Over the years, H.L. Hunt went on to father fifteen children who somewhen made quite a name for themselves. Today, his children oversee the unlike subsidiaries of the Hunt Oil fortune. Son Ray Lee Hunt (pictured below) is in charge of Hunt Oil while another son, William Herbert Hunt, oversees the oil and gas firm Petro-Hunt.
Girl Caroline Rose Hunt started, and subsequently sold, Rosewood Hotels and Resorts. And tardily son, Lamar Hunt, was rumored to have coined the proper name of the Super Basin (yes, you read that right). The family also owns the Kansas City Chiefs.
The Sackler Family
If you've heard of the narcotic OxyContin, and so y'all've heard of how this family unit fabricated its mark. In 1952, brothers Arthur, Mortimer and Raymond Sackler purchased drug manufacturer, Purdue Pharma from its founders, John Purdue Gray and George Frederick Bingham.
The drug company sold many mutual products like laxatives, but hitting it big in the 1990s when they started selling the OxyContin painkiller. The company has since focused primarily on hurting medicine, describing itself as a "pioneer in developing medications for reducing hurting, a main cause of human suffering."
The Sackler Family Today
OxyContin has fabricated the Sackler family unit rich, but the narcotic is not without its controversies. Past the early 2000s, OxyContin became 1 of the highest-selling pain relievers on the market, but it's as well one of the most abused medications by consumers.
Equally a result, Purdue Pharma has been in the midst of legal battles for years. Today, they are all the same owned solely by the Sackler family and brand more than than $three billion in sales per year. Their headquarters (pictured) are located in Stamford, Connecticut.
The Mellon Family
In the mid-1800s, entrepreneur Thomas Mellon (pictured beneath) began setting his family up for fiscal affluence, later to become known as one of the most influential industrialists of his time. Although he was raised on a farm, Mellon rapidly rejected this way of living in favor of an education.
He made his fashion through schoolhouse and established himself in a law career. Later in life, Mellon bought coal fields and real estate in order to open his own banking company with his sons, aptly named T. Mellon & Sons' Bank. The business organisation quickly took off.
The Mellon Family Today
Today, the business is known as Mellon Financial. Mellon passed his work and fortune onto his sons, all of whom took on various business ventures at young ages to become some of the wealthiest men in U.Southward. history.
There accept been many generations of Mellons to concur the seat of U.S. Treasury Secretary, dating all the way back to 1921 when Richard B. Mellon took over the position. Today, the Mellon family owns BNY Mellon, a financial services visitor that has roughly $1.7 trillion in avails. Various family members manage the company today.
The Hilton Family
Nosotros're all familiar with the Hilton Hotels, merely how have they grown to be then successful over the years? The family's wealth began with Conrad Hilton in 1870. Picking upward on business tactics in his male parent'southward grocery store, Conrad went on to higher and later became involved with politics.
After serving time in Globe War I, Conrad moved to Texas and purchased his first hotel. Rooms in Conrad's hotel were in such high demand that he was forced to turn the hotel'due south dining area into additional rooms to rent out to guests.
The Hilton Family Today
Over the years, Conrad bought hotels all over the world and began turning them into extravagant destinations. (One hotel in Due south Africa asks $8000 a dark). Conrad passed away in 1979 and passed his wealth onto his children, Nicky, Barron (pictured), and Eric who keep to reign over the hotel business.
In 2007, a company named Blackstone purchased a portion of Hilton hotels for $26 billion, just sold its shares in 2018 at more triple its initial investment. Today, there are more than 570 Hilton Hotel properties in operation in more 85 countries.
The Busch Family
Talk about resilient. The Busch family, makers of well-known developed beverages like Budweiser, Stella Artois and Beck's, started all the way dorsum in 1876. Adolphus Busch and his father-in-constabulary Eberhard Anheuser co-founded what is today known as Anheuser-Busch.
The company managed to outlast prohibition, surviving the shut down by selling ice cream and soda. Through the years, Anheuser-Busch would go ane of the largest producers of beer in the world. Currently, the family's estimated fortune is $13.4 billion.
The Busch Family Today
The company has been passed downward the generations, Busch to Busch, since the 19th century. Unfortunately, the Busch family has lost countless shares of the company over the years to failed marriages and not-so-closed prenuptial agreements.
And because the family unit did not control the majority of the shares of the company, it was bought out in 2008 past investors from Brazil and Belgium for $52 billion. Today, part of the Busch family is back in the beer business, managing Kraftig in Missouri and Illinois.
The Duncan Family
Life wasn't always full of wealth and prosperity for Dan Duncan. The founder of Enterprise Products Partners, one of the largest oil and gas companies in the U.S., came from a poor family unit of farmers in rural Shelby Canton Texas.
He lost his mother and brother earlier graduating loftier school, then lost his father while serving in the U.Due south. Army during the Korean State of war. When he returned abode from the war, he used his 1000.I. Bill to study at academy, majoring in business, finance and bookkeeping. Duncan eventually co-founded the oil visitor giant in 1968.
The Duncan Family Today
Dan Duncan died in 2010 with an estimated net worth of nearly $x billion, which was held in a trust for his wife and 4 children. Since and so, the family unit'south fortune has grown tremendously (more than doubling) thank you in part to dividend payouts.
The tremendous growth of Duncan's fortune has made siblings Randa Duncan Williams, Milane Frantz, Dannine Duncan Avara and Scott Duncan bona fide billionaires. In fact, they were the starting time billionaires to do good from the changes to the estate taxation constabulary enacted in 2010.
The Lauder Family
Let'due south take information technology back to 1946 when Est̩e Lauder first got her beginning. Lauder created her now famous skincare line with her husband Joseph. The line started with just four products Рa cleansing oil, lotion, all-purpose cream and cream pack Рwith the hopes of helping women look and feel cute.
Ii short years after and she landed her start big account with major section store Saks Fifth Artery in Manhattan. The fabulous Lauder duo went on to build the business from the basis upward and it is now worth billions.
The Lauder Family Today
Lauder passed abroad in 2004, just the company that she and her husband built still has multiple family members at the helm. Both the Lauders' children and grandchildren have continued to be heavily invested in the operations of the company.
The company owns several cosmetics brands, including Bobbi Brownish, Clinique, 1000.A.C. and many others. Thanks to the hard piece of work of the Lauders, their cosmetics empire is incredibly profitable. Current net worth of the Lauder family is $17.9 billion, every bit listed by Forbes.
Source: https://www.reference.com/world-view/glimpse-into-the-fortunes-of-the-richest-american-families?utm_content=params%3Ao%3D740005%26ad%3DdirN%26qo%3DserpIndex
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