Connect with us

Headline

Top 10 Richest Families In America

Published

on

The United States of America maintains the status of a global world power due to its powerful economy, military domination, technological breakthroughs, and cultural impact. Its economic power and domination can be traced to certain families, particularly the top ten wealthiest families in the world.

These wealthy families contributed massively to America’s reputation as a world power, dominating areas such as technology, entertainment, retail, energy, hospitality, and banking and more.

Here is a list of the top ten richest families in America.

Advertisement

10. The Cox Family: Media and Automotive

The Cox family ranks tenth on this list, with an estimated fortune of $26.8 billion derived mostly from media and automobile companies. The family’s empire began in 1898 when James M. Cox bought the Dayton Evening News, which later became Cox Enterprises.

Cox Enterprises gradually expanded into radio, television, cable, and digital media and entered the automotive market with companies such as Autotrader and Kelley Blue Book, solidifying its position as a key player in both industries, with annual revenues exceeding $22.1 billion.

Today, Cox Enterprises is still privately owned, and the family continues to manage its wide portfolio, thereby remain among the wealthiest families in America.

Advertisement

READ ALSO: Top 10 Richest People In Asia In 2024

9. The Duncan Family: Oil and Gas

The Duncan family in the ninth position made its money in the oil and gas industry and is worth an estimated $30 billion. Dan Duncan built a pipeline empire in 1968, which accounts for the majority of the family’s riches.

The Duncan family owns Enterprise Products Partners, a corporation that delivers oil, natural gas, and other petroleum products across the United States.

Advertisement

According to Forbes, Duncan’s four children inherited the company upon his death, and it has continued to grow under family management.

8. The Cathy Family: Fast Food

The Cathy family runs one of the most profitable fast-food franchises in the United States and is worth an estimated $33.6 Billion and eight on the list. Truett Cathy founded it in 1946 owes its riches to Chick-fil-A one of the most popular fast-food company in the United States.

Despite being closed on Sundays, the fried chicken fast-food company has over 3,000 outlets and is generates $6.4 billion in sales by 2022. The Cathy family’s conservative principles and devotion to philanthropy have helped to cement their reputation in the fast-food sector and beyond.

Advertisement

READ ALSO: Top 10 Richest Families In The World

7. The Johnson Family: Cleaning Products

SC Johnson, a global leader in cleaning products and household goods that manufactures brands such as Windex, Pledge, Glade, Ziploc, Raid, and others is seventh on the list, and is worth an estimated $38.5 Billion.

S.C. Johnson launched the company in 1886 after working as a salesperson for a parquet flooring manufacturer and eventually purchasing it. The family’s dedication to environmental sustainability and innovation has helped the company maintain its industry-leading position for more than a century.

Advertisement

6. The Pritzker Family: Hotels & Investing

The Pritzker family (Jay Pritzker and his brother Donald) established Hyatt Hotels Corporation, one of the world’s largest and most prominent hotel companies and is worth an estimated $41.6 Billion and is sixth on the list.

The Pritzker family has long been a major participant in American industry and involved in philanthropy and politics.

The Pritzker family now has ten individual billionaires, including former US Secretary of Commerce Penny Pritzker and movie producer Gigi Pritzker.

Advertisement

5. The Johnson Family: Money Management

The Johnsons are one of the wealthiest families in the America and are worth an estimated $44.8 billion and are fifth on the.

The Johnson family is the driving force behind Fidelity Investments, one of the world’s largest asset management organizations created by Edward C. Johnson II in 1946.

READ ALSO: Top 5 Cheapest Countries To Study In Europe

Advertisement

4. The Cargill-MacMillan Family: Agribusiness

The Cargill-MacMillan family owns one of the largest privately held enterprises in the United States, which was formed in 1865 by William Cargill worth an estimated $60.6 Billion and is fourth on the list.

In the fiscal year 2023, Cargill Inc. made $177 billion in sales and other revenues from a variety of products including chocolate and livestock feed.

Cargill’s businesses have broadened throughout time to encompass agricultural commodity trading, processing, and distribution, as well as food production and risk management.

Advertisement

3. The Koch Family: Energy & Diversified Holdings

The Koch Family’s fortune is derived from Koch Industries, a conglomerate formed by Fred C. Koch in 1940 that has grown to become one of the largest privately held firms in the United States and is worth an estimated $116 Billion and is third on the list.

The Koch family is one of America’s wealthiest families, well known for their vast interests in the energy sector and diverse assets.

READ ALSO: Top 5 Cheapest Countries To Study In Europe

Advertisement

Koch Industries engages in a variety of industries, including oil refining, chemicals, energy, and consumer products, making it a major player in the worldwide market. The Koch family has also made significant donations to political and philanthropic organizations, campaigning for free-market ideals and funding a variety of educational endeavours.

2. The Mars Family: Candy and Pet Food

The Mars Family controls Mars, Inc., which was founded in 1911 by Frank C. Mars and has since grown to become a global leader in candy and pet care products such as M&Ms, Snickers, Pedigree, and Whiskas and is worth an estimated $117 Billion is second on the list.

1. The Walton Family: Retail

The Waltons control Walmart, which began as a single store that Sam Walton built in Rogers, Arkansas, in 1962. The store has expanded to nearly 10,000 locations across 19 countries, generating $648 billion revenue in 2024 fiscal year and is worth an estimated $267 Billion.

Advertisement

Walmart has a market valuation of about $486 billion, and an estimated 45% of its shares are owned by seven members of the Walton family.

The family is the richest in America, mostly because they own Walmart, the biggest retailer in the world.

This article was culled from Yahoo Finance.

Advertisement

Headline

Netanyahu’s Plane Takes Unusual Route To UN Summit

Published

on

Israeli Prime Minister Benjamin Netanyahu’s plane took an unusual route to New York on Thursday, skirting several European countries en route to the United Nations General Assembly.

Although France had authorised Israeli use of its airspace, according to a French diplomatic source who spoke to AFP, flight-tracking data showed Netanyahu’s aircraft instead took a southern path.

It crossed Greece and Italy, then veered south through the Strait of Gibraltar before heading across the Atlantic.

Advertisement

READ ALSO:Netanyahu Has Become ‘A Problem’, Says Danish PM

Britain, France and Portugal were among a string of countries to recognise a Palestinian state this week, a move Netanyahu bitterly opposes. Ireland and Spain announced their recognition in May.

Israeli media, meanwhile, reported that the detour by Netanyahu’s plane was intended to avoid countries that are signatories to the Rome Statute, which could enforce an arrest warrant issued by the International Criminal Court in case of an emergency landing.

Advertisement

The ICC in November issued warrants for Netanyahu and his former defence minister, Yoav Gallant, over alleged war crimes committed during Israel’s military offensive in Gaza.

READ ALSO:Fresh World Trouble Looms As Netanyahu Tells Western Leaders ‘There Will Be No Palestinian State’

Spain last week announced it would support the ICC investigation and had set up a team to probe alleged human rights violations in Gaza, as part of its broader push to pressure Israel to end the war.

Advertisement

Netanyahu is scheduled to address the UN General Assembly on Friday. He is also slated to meet US President Donald Trump at the White House next week.

AFP

Advertisement
Continue Reading

Headline

Japan Scraps ‘Africa Hometown’ Project After Visa Confusion

Published

on

The Japan International Cooperation Agency has cancelled its ‘JICA Africa Hometown’ initiative, citing “misunderstandings and confusion” over the programme.

JICA announced the withdrawal in a statement on its website on Thursday, weeks after reports claimed Japan would create a special visa category for Nigerians who wished to relocate to Kisarazu, a city designated as “hometown” to Nigerians and other Africans under the scheme.

On August 26, the Japanese government denied the visa plan after the Director of Information at the State House, Abiodun Oladunjoye, issued a statement relaying that Japan would introduce a “special visa category” for highly skilled, innovative, and talented young Nigerians who want to move to Kisarazu to live and work.

Advertisement

Clarifying its position, JICA said the use of the term “hometown” and the idea of “designating” Japanese municipalities as such led to “misunderstandings and confusion within Japan, placing an excessive burden on the four municipalities.”

READ ALSO:Two Japanese Boxers Die From Brain Injuries At Same Event

The statement read, “Originally, under this initiative, it was envisioned that exchange programs would be coordinated and implemented among the Japanese local governments, relevant African countries, and JICA. The specific details were to be determined later.

Advertisement

“However, JICA believes that the very nature of this initiative—namely, the term “hometown” and the fact that JICA would ‘designate’ Japanese local Governments as “hometowns”—led to misunderstandings and confusion within Japan, placing an excessive burden on the four municipalities. JICA sincerely apologizes to the municipalities involved for causing such situation.

“JICA takes this situation seriously. After consulting with all parties involved, JICA has decided to withdraw the “JICA Africa Hometown” initiative.”

The initiative was launched in August during the 9th Tokyo International Conference on African Development with the goal of promoting exchanges between four Japanese municipalities and four African countries through cultural and educational programmes.

Advertisement

READ ALSO:Japan City Mulls Two-hour Daily Smartphone Limit

JICA, however, stressed that it had never undertaken initiatives to promote immigration and has “no plans to do so in the future,” adding that it would continue supporting other forms of international exchange.

In August, confusion arose after the State House announced that Japan had designated Kisarazu city as the “hometown” for Nigerians and would introduce a special visa category for young, skilled Nigerians wishing to live and work there.

Advertisement

However, the Japanese government quickly dismissed the claim.

READ ALSO:Japan’s Petabit: What To Know About Internet Speed That Can Download 67 Million Songs In A second

The Ministry of Foreign Affairs of Japan clarified that while the JICA Africa Hometown initiative aimed to promote cultural and developmental exchanges between selected African countries and four Japanese cities, it did not involve immigration benefits or special visas.

Advertisement

The clarification came after Nigeria’s Chargé d’Affaires in Japan, Florence Akinyemi Adeseke, and Kisarazu’s Mayor, Yoshikuni Watanabe, publicly received a certificate naming the city the “hometown” of Nigerians, further fuelling reports of migration opportunities.

Continue Reading

Headline

17 African Countries Back Electricity Reforms—World Bank

Published

on

The World Bank said seventeen African governments have committed to reforms and actionable plans to expand electricity access as part of Mission 300, an ambitious partnership led by the lender and the African Development Bank Group that aims to connect 300 million Africans to electricity by 2030.

The lender said in a statement on Wednesday that governments from Benin, Botswana, Burundi, Cameroon, Comoros, the Republic of the Congo, Ethiopia, Gambia, Ghana, Guinea, Kenya, Lesotho, Mozambique, Namibia, São Tomé and Príncipe, Sierra Leone, and Togo endorsed National Energy Compacts at the Bloomberg Philanthropies Global Forum.

The Bank described the compacts as policy blueprints intended to guide public spending, drive reforms, and attract private investment, while serving as a model for the rest of the world.

Advertisement

Nigeria was not part of the latest group; it had joined earlier this year alongside Chad, Côte d’Ivoire, Democratic Republic of Congo, Liberia, Madagascar, Malawi, Mauritania, Niger, Senegal, Tanzania, and Zambia. Collectively, those countries pledged more than 400 policy actions to strengthen utilities, reduce investor risk, and remove bottlenecks.

READ ALSO:World Bank Appoints Africa’s Richest Man, Dangote

Electricity is the bedrock of jobs, opportunity, and economic growth.

Advertisement

“That’s why Mission 300 is more than a target; it is forging enduring reforms that slash costs, strengthen utilities, and draw in private investment,” World Bank Group President Ajay Banga said.

Since the launch of Mission 300, 30 million people have already been connected, with more than 100 million in the pipeline.

African Development Bank Group President Dr Sidi Ould Tah said, “Reliable, affordable power is the fastest multiplier for small and medium enterprises, agro-processing, digital work, and industrial value-addition.
“Give a young entrepreneur power, and you’ve given them a paycheck,” he added.

Advertisement

READ ALSO:FBI Places $10,000 Bounty On Nigerian Wanted For Bank Fraud

National Energy Compacts are at the core of Mission 300, developed and endorsed by governments with technical support from development partners. Tailored to each country’s context, these practical blueprints integrate three core tracks: infrastructure, financing, and policy.

The World Bank Group and the African Development Bank Group are working with partners, including the Rockefeller Foundation, Global Energy Alliance for People and Planet, Sustainable Energy for All, and the World Bank’s Energy Sector Management Assistance Program trust fund, to align efforts in support of powering Africa. Many development partners and development finance institutions are also supporting Mission 300 projects through co-financing and technical assistance.

Advertisement

President of Botswana, Duma Boko, said, “This National Compact is our shared pledge to ensure accessible, reliable and affordable energy as a basic human need, to transform our economy and create jobs, and to electrify our journey to an inclusive high-income country.”

President of the Republic of Cameroon, Paul Biya, said, “The government of the Republic of Cameroon is committed, through its Energy Compact, to a determined transition towards renewable energies, promoting inclusive universal access and sustainable development based on partnerships and ambitious reforms to build a low-carbon future.”

READ ALSO:Police Restores Peace After Bomb Explosion Rocks Imo Community

Advertisement

President of the Union of the Comoros, Azali Assoumani, noted, “The Comoros Energy Compact is a call for collective action to achieve universal access to electricity by 2030, to ensure the country’s emergence in dignity, equity, and shared progress.”

President of Ethiopia, Taye Atske Selassie, noted, “Our National Energy Compact exemplifies Ethiopia’s unwavering dedication to ensuring universal, affordable, and sustainable energy access for all.

“By unlocking our vast renewable resources and strengthening regional interconnections, we aim to foster inclusive growth domestically and propel Africa’s collective momentum toward ending energy poverty. Together, we are committed to building a resilient, equitable, and sustainable energy future for generations to come.”

Advertisement
Continue Reading

Trending