World’s Wealthiest Business Families: Mukesh Ambani’s Family Ranks Sixth

Mukesh Ambani’s companies 

Mukesh Ambani is the ninth richest man in the world, as per the Bloomberg Billionaire Index. He and his family were the sixth richest family, as per the Bloomberg Wealth list released in October 2022. Mukesh Ambani, chairman of Reliance Industries Limited, owns companies in almost every sector that investors can think of

Reliance Industries 

Reliance Industries was founded by the late Dhirubhai Ambani, who was a yarn trader, in 1966 as a small textile manufacturer. After his death in 2002, Mukesh Ambani took over the company as the chairman

Mukesh Ambani’s
net worth 

Reliance Industries chairman Mukesh Ambani’s net worth is $89.7 billion as on December 21

Mukesh Ambani’s
businesses 

Mukesh Ambani has businesses in petrochemicals, oil and gas, telecom, and retail sectors

Reliance Industries Ltd:
Most valuable company
in India

Mukesh Ambani-led Reliance Industries Ltd (RIL) was named the most valuable listed company among the top 500 companies in India, as per Hurun India’s ‘2022 Burgundy Private Hurun India 500’. Reliance Industries’ market valuation stood at Rs 17.2 lakh crore

Mukesh Ambani’s
succession plan 

Earlier this year, Mukesh Ambani elaborated his succession plan, wherein his elder son Akash Ambani was given the chairmanship of Reliance Jio, his daughter Isha Ambani heads the retail arm, and his youngest son Anant Ambani was inducted into the new energy business

Abu Dhabi Royal Family
Is The World’s Richest

As per Bloomberg Billionaires Index, Abu Dhabi’s Sheikh Tahnoon Bin Zayed Al Nahyan and his family are the world’s richest family with an estimated net worth of $300 billion as on December 12, 2022 

Walton family- Wealthiest
Business Family

The Bloomberg Wealthiest Families list is topped by the Walton family, which owns Walmart and Sam's Club. Walmart Inc, which was started by Sam Walton, operates grocery stores, supermarkets, hypermarkets, department and discount stores, and neighbourhood markets. Walton's children own about half of all Walmart shares, as per the company

Walmart’s ownership 

Source: Bloomberg Wealthiest Families List, October 2022

Walmart is the world’s largest retailer by revenue - $573 billion from more than 10,500 stores worldwide. The Walton family, with a combined net worth of $224.5 billion, owns 47% of the retailer 

Mars family 

Source: Bloomberg Wealthiest Families List, October 2022

The Mars family, with a combined net worth of $160 billion, owns Mars Inc., one of the world's largest candy and pet food companies. The company was founded by Frank C. Mars in his Tacoma, Washington kitchen

M&Ms, Milky Way
and Snickers 

Mars Inc is famous for its M&Ms, Milky Way and Snickers bars. Today the company operates six business segments: Chocolate, Petcare, Food, Wrigley, Drinks, and Symbioscience

Koch family 

Source: Bloomberg Wealthiest Families List, October 2022

The Koch family, which owns Koch Industries, is fourth on the list, with a net worth of $128.8 billion. The company was founded as Wood River Oil & Refining Co. by Fred Koch in 1940. It was later expanded by three brothers Frederick, Charles, David, and William Koch

Others on the list 

Source: Bloomberg Wealthiest Families List, October 2022

Saudi Arabia monarch Al Saud- Saudi Arabia has been ruled by the House of Saud since 1744. Their net worth is $105 billion, as per news reports

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