World’s 5 wealthiest families fortune worth $620 bln

The world’s five wealthiest families, including the owners of Walmart and Mars, cumulatively control a fortune of $621 bln, according to October data compiled by Buy Shares.

The data shows that the Walton family that runs the Walmart retail chains controls a fortune of $215 bln, followed by the Mars family with wealth amounting to $120 bln. The Koch family running the Koch industries owns a fortune worth $109.7 bln.

The Al Saud family, known for vast oil reserves, controls wealth worth $95 bln, while India’s Ambani family has the fifth-highest fortune at $81.3 bln.

The Buy Shares research also reviewed the wealth of the five richest individuals in the world.

Amazon founder Jeff Bezos is the wealthiest person with a fortune of $188.7 bln, followed by Bernard Arnault at $119.2 bln. Microsoft founder Bill Gates is the third richest with a net worth of $115.2 bln.

There is Facebook founder Mark Zuckerberg at $101.8 bln in the fourth spot, while Tesla CEO Elon Musk is the fifth richest person at $93 bln.

The research highlights the inequalities that exist with the global wealthiest individuals and families. According to the report, “the spotlight on the world’s wealthiest comes amid the growing economic inequality in the US and other leading economies.”

“According to critics, inequality exists due to regimes that allow market dominance and low tax rates imposed on capital, especially in the United States.

“To some critics, the vast wealth is evidence that capitalism needs fixing. In some jurisdictions, inequality has become an explosive political issue.”