What is the Richest Family in the World: Oil Takes the Throne

Larry Mimosa December 10, 2023 | 22:10

The reshaping of global wealth distribution is being highlighted in the recently published list of "World's Richest Families in 2023" by Bloomberg.

The Five Richest Families in the World of Modern Time

Top 10 Richest Families in the World (Updated)

The Nahyan House, the family of United Arab Emirates (UAE) President Sheikh Mohammed bin Zayed Al Nahyan, made its debut on the Bloomberg rankings and is expected to be the wealthiest royal family globally in 2023.

The bulk of the United Arab Emirates' oil reserves are found in their home emirate of Abu Dhabi. The estimated total asset value of this family is USD 305 billion.

Top 10 Richest Families in the World in 2023: The family of Sheikh Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates (UAE), is ranked the richest in the world in 2023

The Walton family, who own Walmart, the biggest retailer in the world based on revenue, is the second richest family in the US. Up to 259.7 billion USD are thought to be in their assets.

The French Hermes empire, which owns the eponymous luxury fashion brand, is among the top three. The estimated net worth of the Hermes family is $150.9 billion USD.

With a total asset value of 141.9 billion USD, the Mars family—owners of the massive candy company bearing the same name—ranks fourth on the list.

With an estimated asset worth of USD 133 billion, the Al Thanis House, the ruling family of Qatar, debuted in the rankings. It came in at number five. A major source of wealth for the royal family is Qatar's enormous offshore oil reserves. But the House of Al Thanis also owns important properties overseas, like the fashion label Valentino.

The Koch family, which owns the American petrochemical company Koch Industries (127.3 billion USD), and the House of Saud, who control Saudi Arabia, the world's largest oil exporter (112 billion USD), are also listed among the top ten richest families on the planet this year.

The combined assets of the 25 wealthiest families in the world grew by 1,500 billion USD, or roughly 43%, over the previous year, according to Bloomberg statistics. The three Gulf families that made up the ranking, according to the news agency, "may be much richer than these conservative estimates."