When you think of a family business, you might picture a cosy cafe or corner store. But it's not just local companies that like to keep things in the family. Some of the world's biggest corporations are still family run, from multinational supermarkets to sportscar brands. Read on to see the 40 largest family-owned firms on the planet, according to the latest Global Family Business Index 2021, compiled by the Center for Family Business at the University of St. Gallen in Switzerland.
According to the Center for Family Business, a privately-held firm is considered family-owned if a family controls more than 50% of the voting rights, while a publicly-held company is defined as family-owned if a family holds at least a 32% share of the voting rights. All company revenue figures quoted in this piece have been provided by St. Galen University.
CK Hutchison Holdings is a global company that invests in ports, retail, infrastructure, and telecommunications across 50 countries. Headquartered in Hong Kong, the company employs 270,000 people and brings in annual revenue of $34.4 billion (£24.9bn). Until 2018, CK Hutchinson was owned by Li Ka-shing, whose whopping net worth of $32.2 billion (£23.4bn) makes him the richest man in Hong Kong.
Cheung Kong merged with fellow investment company Hutchinson Whampoa in 2015 to form CK Hutchison Holdings. In 2018, Li Ka-shing (pictured right) announced that he was handing over the role of chairman to his son Victor (pictured left). Li Ka-shing – who still serves as a senior adviser – was dubbed "Superman" after building his plastic manufacturing company Cheung Kong into a global conglomerate, all from a $6,500 loan in 1950.
Porsche Automobil Holding SE is a Volkswagen Group German holding company that invests in the global automobile sector. As well as having shares in major car companies including Porsche, Seat, Skoda, and Audi, the firm also has minority stakes in a variety of technology businesses. Its most recent annual revenue was $34.6 billion (£25bn).
Under the name Porsche AG, the company was founded in 1931 by Ferdinand Porsche and his son-in-law Anton Piech. Today, the company remains in family hands. Former executive chairman Ferdinand Piech (pictured left) and his cousin Wolfgang Porsche (pictured right), a shareholder and Chairman of the Supervisory Board, are prominent members of the founding family. Following Ferdinand Piech's resignation in 2015, the Porsche and Piech families used their majority voting shares to elect Hans Dieter Potsch as the new chairman of the executive board.
Tata Motors is a car manufacturing company based in Mumbai, India. The multinational firm is part of the Tata Group and makes passenger cars, vans, trucks, sports cars, construction equipment, and military vehicles. It employs 42,597 people and its annual revenue was $34.9 billion (£25.2bn).
Jehangir Ratanji Dadabhoy Tata, a wealthy businessman and aviator, created the company in 1945. Today, the Tatas are a prominent business family in India and hold 46.6% of Tata Motor's shares. Ratan Tata (pictured), the former chairman of the Tata group, is the adopted grandson of Jehangir Ratanji Dadabhoy Tata.
Reyes Holdings is an American wholesaler and distributor in the food industry. With high-profile partners including McDonald's and Coca-Cola, Reyes produces and delivers over 325,000 food and drink products to customers around the world. The company employs 30,000 people and has annual revenue of $35 billion (£25.3bn).
Reyes Holdings, which is entirely family-owned, was launched in 1976 in South Carolina by brothers Chris (pictured) and Jude Reyes. The brothers are now co-chairmen of the company, while their younger brother Duke Reyes is the CEO. Several other family members hold executive positions.
With 1,600 stores in the US and 5,600 internationally, ALDI is one of the world's biggest supermarkets. The German company, which is known for its custom-branded products, employs 25,000 people and generates $35.6 billion (£25.8bn) in annual revenue. It also owns American grocery chain Trader Joe's as a subsidiary.
ALDI started life as a tiny grocery store (pictured) in Essen, Germany in 1913. In 1945, brothers Theo and Karl Albrecht took over the shop from their mother and began expanding. They took on the name ALDI in 1962, an abbreviation of the phrase 'Albrecht Diskont'. Following a disagreement, the brothers divided the company into two sections in 1966: ALDI Sud and ALDI Nord. They both stepped down as CEOs in 1993, handing over the business to private family foundations. When Theo Albrecht died in 2010, he was the 31st richest person in the world with a net worth of $16.7 billion (£12.3bn), according to Forbes.
Famed for its tasty treats such as Mars bars, M&Ms, and Snickers, Mars is one of the largest and most beloved food companies in the world. Today, the company employs 130,000 staff and achieves annual revenues of $37 billion (£27bn), but it had much humbler origins.
In 1911, Frank C. Mars started the company in his kitchen in Tacoma, Washington. In the 1920s, his son Forrest joined the company and helped turn it into a confectionery empire. Today, the business is owned by Frank Mars' grandchildren. In addition to chocolate and sweets, the company now also produces pet food. Pictured are Jacqueline Mars, Forrest's daughter, and her granddaughters Graysen and Katherine.
Today, footwear and sportswear brand Nike has annual revenue of $37.4 billion (£27.2bn) and employs 75,400 staff around the globe. The biggest supplier of sports apparel in the world, Nike has partnered with stars including Kobe Bryant, LeBron James, and Serena Williams. But this multinational company wasn't always the brand we know and love today.
In 1964, Nike was founded as Blue Ribbon Sports by track athlete Phil Knight (pictured) and his coach Bill Bowerman. In its first year of business, the company made only $8,000, a pittance compared to the enormous profit it now generates. But one thing has stayed the same. Although Phil Knight stepped down from his role as chairman in 2016, the company is still owned by the Knight family, which holds 84.2% of its shares.
Auchan is a multinational retail group based in Croix, France. Its mammoth chain of Auchan supermarkets employs 179,590 staff across Europe and Asia and brings in annual revenue of $38.9 billion (£28.2bn).
Founded in 1961 by Gerard Mulliez (pictured), the Mulliez family today owns a 95% stake in the company. According to Tharawat Magazine, the family is one of the richest and biggest in Europe. More than 1,000 Mulliez members co-own the family holding company, a staggering 600 of whom are millionaires.
Power Corporation of Canada is an international holding company with a focus on financial services. Although it's attracted controversy for its close ties to Canadian politicans, it employs 30,000 people and generates annual revenue of $39.5 billion (£28.8bn).
Power Corporation of Canada was founded in 1925 and sold to the Paul Desmarais group in 1968. Desmarais was a Canadian businessman who was named the fourth richest person in Canada by Forbes in 2013, thanks to his net worth of $4.5 billion (£3.3bn). He was the company's chairman and CEO until 1996, when his sons Paul Jr. (pictured left) and Andrew took the helm. Today, Paul Jr. is the chairman and Andre is the deputy chair.
AP Moeller/Maersk Group, better known as Maersk, is a Danish shipping company. The business is also involved in energy, transportation, offshore drilling, and retail. Based in Copenhagen, it's been the largest container shipping line and vessel operator in the world since 1996. The company employs 83,624 people and achieves annual revenue of $40 billion (£29.2bn).
The company was founded in 1904 by father and son Peter Maersk Møller and Arnold Peter Møller. From 1965 to 1993, Maersk Mc-Kinney Møller (pictured), Arnold Peter Møller's son, served as president of the corporation and general manager of the family empire. After his death in 2012, his daughter Ane Maersk Mc-Kinney Uggla became chairperson of Maersk's controlling foundation. Today, the Moller family has a 70.6% controlling stake in the empire.
Casino Guichard Perrachon, or simply Casino Group, is a French mass-market retail company that operates in everything from hypermarkets to wholesale stores. In its 120-year history, the company has revolutionised the way we shop, introducing new ideas such as the first self-service store in 1948 and the display of product sell-by dates in 1959. Casino Group has stores in Brazil and Colombia as well as France. It employs 202,955 people and has annual revenue of $41.8 billion (£30.3bn).
Casino Group was founded by Geoffroy Guichard in 1898. In 1992, the company merged with the Rallye Group, owned by Jean-Charles Naouri (pictured). Naouri is now the chairman and CEO of Groupe Casino, as well as the controlling shareholder. His son Gabriel worked as the deputy head of international operations until 2017.
Idemitsu Kosan was founded by Japanese businessman Sazo Idemitsu (pictured) in 1911. His son Shosuke Idemitsu became the CEO in the 1950s, before rising to the position of chairman from 1998 to 2001. Shosuke's cousin Akira Idemitsu briefly held the position until his retirement in 2007. His successor wasn't an Idemitsu and, for the first time since 1940, no family members were serving on the company board. However, the Idemitsu family still owns a 37.6% stake in the business.
Tyson Foods is the leading meat company in the US, producing approximately 20% of America's beef, pork, and chicken. The business owns beloved brands such as Hillshire Farms, Jimmy Dean, and Aidells sausages, and debuted its plant-based line Raised & Rooted in 2019. Tyson Foods employs 139,000 people and generates annual revenue of $43.2 billion (£31.5bn).
The now mammoth company started from humble beginnings. During the Great Depression, John W. Tyson moved his family to Arkansas in search of work and set up the company in 1935. In 1953, his son Don Tyson dropped out of university to work for the business, taking it public in the 1960s. Today, John H. Tyson, the grandson of John W. Tyson, serves as the chairman and was previously the CEO from 2000 to 2006. His son, John R. Tyson (pictured) – a fourth generation family member – is the chief sustainability officer.
The company was founded by He Xiang Jian in 1968. The Chinese billionaire has a staggering net worth of $31.2 billion (£22.6bn), according to Forbes. He stepped back from business operations in 2012 but his son He Jianfeng is now a director of Midea Group. The He family has a 32% stake in the company.
Hanwha Corporation, headquartered in Seoul, South Korea, is a global manufacturing and trading conglomerate and the market leader in the South Korean explosives sector. Hanwha became the country's first domestic dynamite maker in 1959. Today, the corporation has evolved into a global multi-industry manufacturing giant with varied products in chemicals, defence systems, and machines. Its annual revenue is $46.8 billion (£34.2bn).
The business was created in 1952 by Kim Chong-Hee (pictured) under the moniker of Korea Explosives. The Kims have a 38.1% stake in the company and three family members sit on the board.
Anheuser-Busch InBev SA is a multinational brewing company. Its portfolio of over 630 drinks brands includes big names such as Budweiser, Corona, and Stella Artois. The company employs 163,695 people and generates yearly revenues of $49.7 billion (£36.3bn).
The beer corporation is controlled by three Belgian families – Vandamme, de Mévius, and Spoelberch – who own 28.6% of the company between them. Meanwhile, longtime business partners Marcel Herrmann Telles (pictured), Jorge Paulo Lemann, and Carlos Alberto Sicupira hold 22.7% via their investment company.
Torbjorn Törnqvist (pictured) and Gennady Timchenko started the Swiss firm in 2000 and it's now one of the world's leading crude oil traders. As a result of US sanctions, Timchenko decided to sell his shares to Törnqvist in 2014. Törnqvist now owns 80% of Gunvor, while the remaining 20% belongs to company employees.
América Móvil is run by Carlos Slim and his family members, who own a 52.9% controlling stake in the company between them. According to Forbes, the family has a net worth of $77.6 billion (£56.3bn).
Brazilian meat processing company JBS S.A was founded in 1953, when José Batista Sobrinho started a small operation that processed just five cattle a day. Today, the company is the world's biggest butcher, producing beef, pork, and chicken as well as leather goods, biodiesel, and cleaning products. Its annual revenue is $52.2 billion (£38.2bn) and the Batista family still has a 35.8% stake in the firm. But the company hasn't been free from controversy.
In 2017, JBS CEO Wesley Batista (pictured) and his younger brother Joesley, the ex-chairman, were arrested for corruption. It was thought that the brothers had bribed Brazilian politicians to advance their business interests. To settle the investigation – and avoid jail time – they were ordered to pay fines of around $3.2 billion (£2.4bn).
One of the world's largest steel producers with 191,000 employees, ArcelorMittal generates annual revenue of $53.3 billion (£38.9bn).
The company was founded by Mohan Lal Mittal in 1976. Mohan Lal Mittal's son Lakshmi (pictured) is the current chairman and, together with his family, he owns a 35.6% controlling stake.
Founded in 1857, Aditya Birla Group is an Indian multinational business that that works in the textiles, fibre, metals, cement, yarn, chemicals, telecommunications, and financial services sectors. The vast corporation employs 22,477 people and generates annual revenue of $53.5 billion (£39bn).
Chairman Kumar Birla (pictured right) is the fourth-generation family member to head the business empire. Birla inherited the company at just 28 years old, after his father died in 1995.
Founded in 1882, George Weston Ltd. is a food and retail group with a diverse portfolio, including interests in frozen food, baked goods, medicine, real estate, and finance. One of Canada’s largest private sector employers, it has a workforce of 226,229 and generates annual revenue of $54.7 billion (£39.9bn).
W. Galen Weston (pictured with his wife Hilary) is the grandson of founder George Weston. He inherited the company from his father and was the CEO until his retirement in 2016, at which point his son Galen G. Weston took on the role. His daughter Alannah chairs the UK department store chain Selfridges, which was acquired by Weston in 2003.
The world's largest luxury goods company, LVMH Moët Hennessy Louis Vuitton SA (LVMH) was formed as part of a merger between fashion house Louis Vuitton and drinks company Moët Hennessy in 1987. Its creation was the brainchild of French businessman Bernard Arnault, who saved up $15 million (£11.6m) by working for his father's construction business to buy fashion house Dior in 1985. LVMH generates annual revenue of $54.8 billion (£40bn).
Bernard Arnault (pictured with French pianist Helene Mercier-Arnault, his wife) remains CEO and chairman of over 70 brands, making him the third richest person in the world with a net worth of $183.4 billion (£133bn), according to Forbes. Four of his five children work for the business empire and the family owns a 47.5% stake in LVMH.
Electronics giant LG Corporation generates annual revenue of $58.1 billion (£42.4bn). The company, which employs 75,000 people, also has interests in chemicals, solar energy, and sports, among other industries.
Founder Koo In-Hwoi (pictured) established the company in 1947. Upon Koo In-Hwoi's death, LG Corporation was passed down to his son and then grandson Koo Bon-Moo. The family owns a 33.7% stake in the company.
Swiss healthcare company Roche developed the world's first antidepressant. It was also the first firm to mass-produce Vitamin C and has developed game-changing medications including antiretroviral HIV and chemotherapy drugs. The group has annual revenue of $68.5 billion (£50bn) and a workforce of 101,465.
The descendants of Fritz Hoffmann-La Roche, who founded the company in 1896, are one of big pharma's most powerful families and have a controlling stake in Roche. André Hoffmann (pictured) is the great-grandson of Fritz and serves as the current vice chairman.
INA-Holding Schaeffler GmbH & Co. KG, or simply Schaeffler Group, is a German manufacturing company that produces rolling element bearings for cars, planes, and industrial use. The business has an enormous workforce of 317,316 and generates annual revenue of $70.5 billion (£51.5bn).
The Schaeffler Group was founded by Georg Sr. Schaeffler in 1946. Today, it's owned by his widow Maria-Elisabeth (pictured) and their son Georg Jr.
Country Garden Holdings is a real estate business with interests in property development, construction, property management, and hotel operations. Headquartered in Foshan, China, it generates $71.1 billion (£51.9bn) in annual revenue.
Country Garden Holdings was founded in 1992 by Yang Guoqiang (pictured), a former farmer who built his empire from the ground up. The Yang Guoqiang family now owns a controlling stake in the company, and in 2005 Yang transferred his shares to his daughter Yang Huiyan. In 2007, Forbes declared her the richest woman in Asia. Her current net worth is thought to be $28.3 billion (£20.5bn).
Founded in 1953, this conglomerate is the third largest family-run business in South Korea. Involved in advanced manufacturing and mobility, SK Corp (also known as SK Group) has a workforce of 107,983 and generates annual revenue of $73.9 billion (£54bn).
The position of chairman has been handed down from father to son. Chey Tae-won (pictured) inherited the role from company founder Chey Jong-hyon in 1998. Today, he has a net worth of $3.1 billion (£2.25bn), according to Forbes.
Indian energy company Reliance Industries Ltd. operates in the petrochemicals, oil and gas, telecommunications, and retail industries. It has a workforce of 195,618 and turns over $79.5 billion (£57.6bn) annually.
Reliance Industries was founded by Dhirubhai Ambani, a yard trader, in 1966. It started out as a small textile manufacturer before growing into a huge empire. Ambani's older son Mukesh (pictured) now serves as the chairman while his younger son Anil has shareholdings in the empire. The brother are famous for their fractious relationship, which even saw Anil file a defamation suit against Mukesh in 2008.
Founded in Germany by Robert Bosch (pictured), the company had a rocky start but gained ground in the 1890s when Bosch successfully created a magneto ignition, a type of electric generator. Later, when one of his engineers developed an ignition with a sparkplug, the company took off. Bosch expanded his product lines following a crisis in the German car industry in 1926, branching into other items such as power tools and household appliances. Upon his death in 1945, his children Robert Bosch Jr and Eva Madelung inherited an 8% stake which they held until Bosch Jr died in 2004. Today, Madelung and eight members of the third generation share this stake. The remaining 92% is held by a charitable foundation as per Robert Bosch's wishes.
Technology behemoth Dell generates staggering annual revenue of $94.2 billion (£68.9bn). Its founder Michael Dell is one of the richest men in the world with a net worth of $55.6 billion (£40.3bn), according to Forbes.
Michael Dell (pictured) started the business in 1984 from his dorm room at the University of Texas. Today, the Dell family owns a huge 75% stake in the company, giving them billions of dollars every year.
Comcast, a media and entertainment colossus, is America's largest home internet service provider. It also operates TV channels such as NBC, MSNBC, and E!, as well as Universal Pictures movie studios and theme parks. The company has annual revenue of $103.6 billion (£75.7bn) and employs 168,000 people.
Comcast was founded by the late Ralph J. Roberts in 1963 and his family still owns a 33.8% controlling stake. Ralph's son Brian (pictured with his wife Aileen) is the firm's current chairman and CEO. Several other members of the Roberts family also work at the company.
Commercial farming firm Cargill is one of America's largest privately-owned companies. The enterprise was established in 1865 by William W. Cargill. Descendants of William Cargill and his son-in-law John MacMillan have owned equity in the company for over 140 years, making them the fourth richest family in the US, according to Business Insider.
In fact, there are eight billionaires in the family, according to Forbes. The wealthy clan has an 85% controlling stake in the company. Descendants include the late Cargill MacMillan Jr. (pictured) who worked for Cargill for almost 40 years.
American oil refining company Koch Industries turns over $115 billion (£84.2bn) a year. As well as oil, the company also has interests in areas such as manufacturing, petroleum, commodities trading, and ranching.
Fred C. Koch founded the company in 1940 and passed it on to his four sons before he died in 1967. Charles (pictured) and David successfully sued their brothers William and Frederick for control of the firm during the 1980s and 1990s. David Koch passed away in 2019, while Charles still serves as the chairman and CEO.
The iconic German auto firm generates annual revenue of $122.2 billion (£89.4bn). As well as making BMW vehicles, BMW AG is the parent company of Rolls-Royce Motor Cars and also owns the Mini brand.
Industrialist Günther Quandt established the firm that would become the BMW Group in the 1910s. Despite a shameful past – BMW used slave labour during World War II – the Brandt family has managed to hold on to a 46.8% controlling stake. Quandt's grandson Stefan (pictured) owns 23.6% of the car company and is worth $23 billion (£16.7bn), according to Forbes.
One of the largest car manufacturers in the world, the Ford Motor Company achieves annual revenue of $127.1 billion (£93bn).
Today, the descendants of founder Henry Ford – who launched the company in 1903 – own 40% of the voting rights. His great-grandson William Clay Ford Jr. (pictured) is the company's executive chairman.
EXOR SpA is an Italian investment company. Its assets include car companies Fiat, Ferrari, Lancia, and Alfa Romeo, as well as the Economist Group in media and football club Juventus. All in all, EXOR SpA has an annual turnover of $145.3 billion (£106.3bn) and a workforce of 343,415.
Dubbed 'the Kennedys of Italy', the Agnelli family has a 53% controlling stake in the company. The current head of the company is John Elkann (pictured), the great-great-grandson son of Giovanni Agnelli who co-founded Fiat in 1899. According to Forbes, Elkann's net worth is $2.1 billion (£1.5bn).
Headquartered in Omaha, Nebraska, Berkshire Hathaway is one of the world’s largest multinational conglomerates. As well as wholly owning brands such as GEICO and Dairy Queen, it also has significant minority holdings in Coca-Cola, Apple, American Express, and more. It boasts annual revenue of $245.5 billion (£179.8bn).
Master investor Warren Buffett (pictured with his son Peter and daughter Susan) is the chairman and CEO of Berkshire Hathaway. He has voting control of the company and, upon his death, the bulk of his shares will pass to a family foundation.
Walmart is America’s largest company by revenue, turning over a staggering $559.1 billion (£409.5bn) last year. The retail giant employs 2.3 million people around the US.
The living heirs of co-founders Sam and James Walton, who established the family firm back in 1962, share the majority stake in the company. Today, the Waltons are the richest family in America.
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