The 25 richest American families, ranked
- The US may not have any rich royals, but it does have rich families with net worths in the billions.
- These billionaire clans have accumulated their fortunes in vastly different ways, from publishing and cosmetics to retail and hotels.
- See the top 25 richest families in the US, ranked by net worth, starting at $10 billion.
America may not be home to any rich royal families, but that doesn’t mean some families haven’t created their own sort of empire.
In fact, the United States has quite a few billionaire clans who accumulated their fortunes in vastly different ways. There are the publishing powerhouses that built the Hearst and Newhouse family fortunes; a cosmetics giant, which laid the foundation for the Lauder family fortune; and the families that created their wealth out of household names, like Walmart for the Waltons and Hyatt Hotels for the Pritzers.
But not all of America’s richest families began as entrepreneurs — some were also savvy investors.
Below, meet the richest families in the US, ranked from lowest net worth to highest net worth, starting at $10 billion. Rankings were determined by the most up-to-date estimated net worths available from Forbes and Bloomberg.
25. The Gallo family
Net worth: $10.7 billion
Source of wealth: E & J Gallo Winery
The Gallo family fortune is derived from a few avenues. Brothers Ernest and Julio Gallo founded the world’s largest winemaker in Modesto, California. Their other brother, Joseph, assisted with the family business until he opened his first dairy and sold cheese as “Joseph Gallow Cheese.” His children currently run Joseph Farms, while the descendants of Ernest and Julio run E & J Gallo Winery, which generates estimated annual revenues of $3.8 billion. The company sells more than wine these days having added liquor to the list.
24. The Rockefeller family
Net worth: $11 billion
Source of wealth: Standard Oil
John D. Rockefeller became America’s first billionaire after founding Standard Oil in 1870, which eventually controlled a majority of the country’s oil refining. He and his son, John Jr., donated more than $1 billion in philanthropic efforts. The family’s fortune is split among 174 members.
23. The Butt family
Net worth: $11 billion
Source of wealth: H.E. Butt
Florence Butt founded H-E-B grocery store in Texas in 1905, which her son Howard expanded throughout the state when he took over the company in the 1920s. His son, Charles, is the majority shareholder and currently runs the company, which has 400 stores in Texas and Mexico and generates $25 billion in annual sales. Charles’ siblings and two nephews also have stakes in the business.
Read the full article from it’s original source: http://uk.businessinsider.com/richest-billionaire-families-america-2018-7