World

The World’s Wealthiest Family Gets $4 Million Richer Every Hour

The numbers are mind-boggling: $70,000 per minute, $4 million per hour, $100 million per day. That’s how quickly the fortune of the Waltons, the clan behind Walmart Inc., has been growing since last year’s Bloomberg ranking of the world’s richest families.

At that rate, their wealth would’ve expanded about $23,000 since you began reading this. A new Walmart associate in the US would’ve made about 6 cents in that time, on the way to an $11 hourly minimum.

At that rate, their wealth would’ve expanded about $23,000 since you began reading this. A new Walmart associate in the U.S. would’ve made about 6 cents in that time, on the way to an $11 hourly minimum.

The Walton fortune has swelled by $39 billion, to $191 billion, since topping the June 2018 ranking of the world’s richest families.

Other American dynasties are close behind in terms of the assets they’ve accrued.

The Mars family, of candy fame, added $37 billion, bringing its fortune to $127 billion. The Kochs, the industrialists-cum-political-power-players, tacked on $26 billion, to $125 billion.

Worldwide, the 25 richest families now control almost $1.4 trillion in wealth, up 24 per cent from last year.

In all, the world’s 25 richest families have $250 billion more wealth, compared to last year.

“Family-owned operating businesses can shift from booming to declining, a family’s investment portfolio might not be well diversified or there can be issues with generational transitions.”

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