In 2023, the Al Nahyan family of Abu Dhabi claimed the top spot in Bloomberg's annual family fortunes ranking, amassing a staggering $305 billion. This vaulted them above the Waltons, the Walmart Inc. founders, by an impressive $45 billion. Another newcomer, the Al Thanis of Qatar, secured the fifth position.
Renowned for their petro-fortunes, these families are reshaping global business dynamics, emphasizing the Gulf region's growing influence. The world's richest families collectively gained $1.5 trillion since the last ranking, with notable success from the Hermès dynasty, ranking third globally after adding $56 billion. Their strategy of avoiding trends and nurturing loyalty contributed to this financial triumph.
In today's volatile economic landscape, fleeting fortunes often fluctuate. However, these wealthy families thrive by staying united, guided by a shared sense of duty and the belief that their unity enhances their wealth. This long-term perspective helps them withstand challenges such as wars, economic downturns, taxes, family conflicts, and unexpected in-law issues.
Bloomberg reports that the world's 25 wealthiest families experienced a remarkable 2023, adding $1.5 trillion to their fortunes. Strong economic growth, controlled inflation, and resilient consumer spending contributed to their business success. The Al Nahyans, who oversee Abu Dhabi and own the UK soccer club Manchester City, dethroned the Waltons, marking the first time in five years a family other than Walmart heirs claimed the top spot. The Hermès family saw significant wealth growth, securing the third position on Bloomberg's list.
Amidst this wealth surge, 2023 witnessed further enrichment for the world's two wealthiest individuals, Tesla CEO Elon Musk and Amazon founder Jeff Bezos. They added over $150 billion to their wealth, according to Bloomberg's Billionaires Index.