World's Richest Families 2024: Waltons top with $432.4 bn, Ambanis at no. 8

World's Richest Families 2024: The Walmart Waltons top the list with $406.5 billion; India's Ambanis and Mistrys of Shapoorji Pallonji rank 8th and 23rd. Here is the top five list

The Walmart Waltons have reclaimed the top spot as the world’s wealthiest family, amassing a staggering $432.4 billion — a fortune greater than Elon Musk’s individual net worth and even the combined riches of Middle Eastern royal dynasties.

 

From India, the Ambanis secured the 8th position ($99.6 billion), while the Mistrys of Shapoorji Pallonji ($41.4 billion) landed at 23rd on the list.

 

The Waltons’ return to the top of Bloomberg’s World’s Richest Families 2024 is driven by the soaring performance of Walmart shares, which surged 80 per cent this year as of December 10. This remarkable growth added $172.7 billion to their collective wealth, translating to an astonishing $473.2 million per day or $328,577 per minute, according to Bloomberg’s calculations.

 

 

Meanwhile, the report highlights that billionaires worldwide collectively gained $406.5 billion in wealth, reflecting a year of extraordinary financial growth.

World’s Richest Families 2024: A list of top five families

1. The Waltons of Walmart (US): Worth $432.4 billion from their 46 per cent stake in the consumer retail business. The family consists of three generations based in the US. Walmart has more than 10,600 stores across the world.

 

“Walmart is the world’s largest retailer by revenue — $648.1 billion in the most recent fiscal year from more than 10,600 stores worldwide,” Bloomberg stated.

 

2. The Al Nahyan family (UAE): The United Arab Emirates’ ruling family, with a wealth of $323.9 billion spanning three generations, secured the second position on this year’s list. Having governed the oil-rich region for decades, the family is led by Sheikh Mohammed bin Zayed Al Nahyan, who serves as both the ruler of Abu Dhabi and the UAE president. Bloomberg reports that companies tied to the royal family account for over 65 per cent of the Abu Dhabi benchmark stock index.

 

3. The Al Thani family (Qatar): Qatar’s Al Thani royal family, valued at $172.9 billion, ranks third on the list. With a legacy spanning eight generations, the family has endured through both the Ottoman and British empires. Qatar’s wealth primarily comes from vast offshore gas fields and oil reserves.

 

“Family members occupy numerous political posts and dominate the local economy, owning businesses from hotels to insurers to contractors. They also hold prized foreign assets like homes in London’s Mayfair, stud farms and fashion label Valentino,” Bloomberg mentioned.

 

4. The Hermes family (France): With a net worth of $170.6 billion, the owners of the French luxury goods business, spanning six generations and over 100 members, hold the fourth spot.

 

Bloomberg stated, “Among the family members who maintain senior positions at the company are Pierre-Alexis Dumas, the artistic director, and executive chairman Axel Dumas.”

 

5. The Koch family (US): The Koch family, based in the US, has a net worth of $148.5 billion, with three generations involved in the oil industry.

Indians on the World’s Richest Families 2024 list

The Ambani family: Ranked eighth with a wealth of $99.6 billion, the Ambani family, spanning three generations, entered the top 10 this year. Their fortune is largely built on the rapidly expanding Reliance Industries conglomerate. 

The Mistrys: The Mistry family, with five generations overseeing the Shapoorji Pallonji Group, holds a collective wealth of $41.4 billion, securing the 23rd position on the list.