World’s 25 wealthiest families are now worth $1.7 trillion; grew richer in one year
The Waltons who own Walmart witnessed their wealth zoom $23 billion since last year
According to a report, the fortune of the world's richest families grew over 22 per cent in the past year with the Waltons who head the retail giant Walmart in the US topping the list for the fourth consecutive year.
The Waltons witnessed their fortune zoom $23 billion in the last year. The family's net worth is $232 billion, according tothe Bloomberg report.
The wealth acquired by luxury dynasties grew exponentially with the Hermes increasing their wealth to $111.6 billion. However, the Lee family which owns Samsung fell off from the list after paying $11 billion in inheritance tax after the death of patriarch Lee Kun-hee, the report said.
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New York-based Lauders of cosmetics-maker Estee Lauder entered the list as the combined wealth of 25 richest families showed their net worth was worth $1.7 trillion as they gained $312 billion in past one year. TheDassaultfamily which owns the aviation company also entered the elite richlist.
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A research earlier had highlighted over one per cent of adults worldwide had become millionaires for the first time last year amid the pandemic. The number of ultra-high net worth individuals had grown by 24 per cent last year which was the fastest since 2003, the Credit Suisse research had said.
The United States is reportedly the No-1 country in terms of billionaire growth with 29 per cent which accountedfor 37 per cent of cumulative billionaire wealth last year followed by China and Germany. According to Wealth-X's 2021 billionaire census, nearly 60 per cent of billionaires last year were "self-made".
The increase in billionaires was mainly in the technology, shipping and auto industries.
The "super billionaires" list was led by Amazon's Jeff Bezos, SpaceX CEO Elon Musk, LVMH Moët Hennessy chairman and CEO Bernard Arnault and Microsoft co-founder Bill Gates.
(With inputs from Agencies)