Το
ακόλουθο άρθρο του Βρετανού συγγραφέα, δημοσιογράφου και πολιτικού
ακτιβιστή Τζορτζ Μόνμπιοτ δημοσιεύτηκε στην εφημερίδα The Guardian.
Για
μεγάλο μέρος της ενήλικης ζωής μου καταφερόμουν εναντίον του
«επιχειρηματικού καπιταλισμού», του «καταναλωτικού καπιταλισμού» και του
«πελατειακού καπιταλισμού». Χρειάστηκε πολύς χρόνος για να αντιληφθώ
ότι το πρόβλημα δεν είναι το επίθετο, αλλά το ουσιαστικό. Ενώ ορισμένα
πρόσωπα απέρριψαν γρήγορα και με χαρά τον καπιταλισμό, εγώ το έκανα αργά
και με επιφυλάξεις.
Μέρος της αιτίας ήταν το ότι
δεν έβλεπα μια σαφή εναλλακτική λύση. Διαφορετικά από ορισμένους
αντικαπιταλιστές, εγώ ποτέ δεν ενθουσιάστηκα με τον κρατικό κομμουνισμό.
Ενιωθα αμήχανα και με το «θρησκευτικό status» του καπιταλισμού. Το να
πει κανείς ότι «ο καπιταλισμός αποτυγχάνει» στον 21ο αιώνα είναι σαν να
έλεγε «ο Θεός πέθανε» στον 19ο αιώνα· είναι η μεγαλύτερη βλασφημία.
Προϋποθέτει ένα βαθμό πεποίθησης που δεν διέθετα. Δεδομένου όμως του ότι
μεγάλωσα, κατέληξα να αναγνωρίσω δύο πράγματα.
Πρώτον,
ότι είναι το σύστημα μάλλον, παρά μια ιδιαίτερη εκδοχή του, αυτό που
μας ωθεί αναπόδραστα προς την καταστροφή. Δεύτερον, ότι δεν χρησιμεύει
να επινοήσουμε μιαν οριστική εναλλακτική λύση, για να πούμε ότι ο
καπιταλισμός αποτυγχάνει. Είναι μια διαπίστωση που στέκει από μόνη της.
Απαιτεί όμως και μιαν άλλη, και διαφορετική προσπάθεια για να
αναπτύξουμε ένα νέο σύστημα.
Τα όρια του
καπιταλισμού πηγάζουν από δύο από τα στοιχεία που τον ορίζουν. Το πρώτο
είναι η απεριόριστη ανάπτυξη. Η οικονομική ανάπτυξη είναι το συνδυασμένο
αποτέλεσμα της αναζήτησης συσσώρευσης κεφαλαίου και άντλησης κέρδους. Ο
καπιταλισμός καταρρέει χωρίς ανάπτυξη, αλλά η απεριόριστη ανάπτυξη σε
έναν πεπερασμένο πλανήτη οδηγεί αναπόδραστα στην περιβαλλοντική
καταστροφή.
Οσοι υποστηρίζουν τον καπιταλισμό
υποστηρίζουν ότι, όταν η κατανάλωση περνάει από τα αγαθά στις υπηρεσίες,
η οικονομική ανάπτυξη μπορεί να διαχωριστεί από την ανάλωση των υλικών
πόρων.
Σε ένα άρθρο τους στο περιοδικό New
Political Economy, οι Jason Hickel και Giorgos Kallis εξέτασαν αυτή την
υπόθεση. Ανακάλυψαν ότι, ενώ στον 20ό αιώνα επιβεβαιώθηκε ένας σχετικός
διαχωρισμός (η ανάλωση υλικών πόρων αυξήθηκε, αλλά όχι τόσο γρήγορα όσο η
οικονομική ανάπτυξη), στον 21ο αιώνα υπήρξε μια επαναπροσέγγιση: η
αυξανόμενη ανάλωση πόρων έχει μέχρι τώρα φτάσει ή ξεπεράσει το ποσοστό
οικονομικής ανάπτυξης.
Ο απόλυτος διαχωρισμός, που
είναι αναγκαίος για να αποφευχθεί η περιβαλλοντική καταστροφή (μια
μείωση της ανάλωσης των υλικών πόρων), δεν επιτεύχθηκε ποτέ και φαίνεται
αδύνατος στο πλαίσιο μιας συνέχισης της οικονομικής ανάπτυξης.
Η
πράσινη ανάπτυξη είναι μια αυταπάτη. Ενα σύστημα βασιζόμενο στην
απεριόριστη ανάπτυξη δεν μπορεί να λειτουργεί χωρίς περιφέρειες και
εξωτερικότητες. Θα πρέπει πάντα να υπάρχει μια ζώνη άντλησης –από την
οποία τα υλικά θα αποσπώνται χωρίς καταβολή ολικού τιμήματος– και μια
ζώνη διοχέτευσης, όπου θα ξεφορτώνονται τα κόστη με τη μορφή μόλυνσης
και απορριμμάτων. Καθώς η ποσότητα της οικονομικής δραστηριότητας
αυξάνεται όσο ο καπιταλισμός επηρεάζει τα πάντα, από την ατμόσφαιρα ώς
τα βάθη του ωκεανού, ολόκληρος ο πλανήτης γίνεται μια ζώνη θυσίας.
Ολοι
εμείς κατοικούμε στην περιφέρεια της μηχανής που παράγει κέρδος. Αυτό
μας ωθεί σε έναν κατακλυσμό τέτοιων διαστάσεων, που οι περισσότεροι
άνθρωποι δεν μπορούν καν να τον φανταστούν. Η απειλούμενη κατάρρευση των
συστημάτων υποστήριξης της ζωής είναι κατά πολύ χειρότερη από τον
πόλεμο, τον λιμό, την πανούκλα ή την οικονομική κρίση, αν και είναι
πιθανό να τα ενσωματώνει όλα και τα τέσσερα.
Οι
κοινωνίες μπορούν να συνέλθουν από αυτά τα καταστροφικά γεγονότα, αλλά
όχι από την απώλεια εδάφους, πλούσιας βιόσφαιρας και βιώσιμου κλίματος.
Το δεύτερο στοιχείο που ορίζει τον καπιταλισμό είναι η παράδοξη παραδοχή
ότι ένα πρόσωπο έχει δικαίωμα σε ένα ποσοστό του φυσικού πλούτου του
κόσμου τόσο μεγάλο όσο μπορεί να αγοράσει με το χρήμα του.
Αυτός
ο σφετερισμός κοινών αγαθών προκαλεί τρεις πρόσθετες επιπτώσεις.
Πρώτον, την πάλη για τον αποκλειστικό έλεγχο μη αναπαραγόμενων
δραστηριοτήτων, που συνεπάγεται βία ή νομοθετικούς ακρωτηριασμούς των
δικαιωμάτων άλλων προσώπων. Δεύτερον, την εξαθλίωση ανθρώπων από μιαν
οικονομία βασιζόμενη στη λεηλασία μέσα στον χώρο και στον χρόνο. Τρίτον,
τη μετατροπή της οικονομικής εξουσίας σε πολιτική εξουσία, στον βαθμό
που ο έλεγχος πάνω στους θεμελιώδεις πόρους οδηγεί στον έλεγχο των
κοινωνικών σχέσεων που τους περιβάλλουν.
Με ένα
άρθρο του στους New York Times, ο νομπελίστας οικονομολόγος Τζόζεφ
Στίγκλιτς προσπάθησε να διακρίνει τον καλό καπιταλισμό, που τον όρισε ως
«δημιουργία πλούτου», από τον κακό καπιταλισμό, που τον όρισε ως «κλοπή
πλούτου». Κατανοώ τη διάκριση που κάνει. Από την περιβαλλοντική σκοπιά
όμως, η δημιουργία πλούτου είναι κλοπή πλούτου.
Η
οικονομική ανάπτυξη, που από την ίδια τη φύση της συνδέεται με την
αυξανόμενη ανάλωση υλικών πόρων, σημαίνει ότι κλέβουμε τον φυσικό πλούτο
τόσο από τα έμβια συστήματα όσο και από τις μελλοντικές γενεές.
Οταν
επισημαίνουμε αυτά τα προβλήματα, δεχόμαστε έναν καταιγισμό κατηγοριών,
πολλές από τις οποίες βασίζονται στον ακόλουθο συλλογισμό: ο
καπιταλισμός έσωσε εκατοντάδες εκατομμύρια ανθρώπους από τη φτώχεια κι
εσείς τώρα θέλετε να ξαναγίνουν φτωχοί. Είναι αλήθεια ότι ο καπιταλισμός
και η συνακόλουθη οικονομική ανάπτυξη βελτίωσαν ριζικά τη ζωή μεγάλου
αριθμού προσώπων, καταστρέφοντας ταυτόχρονα την ευημερία πολλών άλλων·
εκείνων των οποίων η γη, η εργασία και οι πόροι κλάπηκαν για να
τροφοδοτήσουν την ανάπτυξη αλλού.
Μεγάλο μέρος του
πλούτου των πλούσιων εθνών θεμελιωνόταν και θεμελιώνεται πάνω στη
δουλεία και στην αποικιακή εκμετάλλευση. Οπως ο άνθρακας έτσι και ο
καπιταλισμός έφερε πολλά οφέλη. Αλλά όπως και ο άνθρακας, τώρα προκαλεί
περισσότερες ζημιές παρά οφέλη. Ακριβώς όπως βρήκαμε τα μέσα για να
δημιουργήσουμε ωφέλιμη ενέργεια, που είναι καλύτερη και λιγότερο βλαβερή
από τον άνθρακα, οφείλουμε να βρούμε τα μέσα για να δημιουργήσουμε
ανθρώπινη ευημερία που θα είναι καλύτερη και λιγότερο βλαβερή από εκείνη
που δημιουργεί ο καπιταλισμός.
Δεν μπορούμε να
γυρίσουμε πίσω: η εναλλακτική λύση στον καπιταλισμό δεν είναι ούτε ο
φεουδαλισμός ούτε ο κρατικός κομμουνισμός. Ο σοβιετικός κομμουνισμός
είχε περισσότερα κοινά στοιχεία με τον καπιταλισμό από όσα οι
υπερασπιστές και των δύο συστημάτων θέλησαν να παραδεχτούν. Και τα δύο
συστήματα είναι (ή ήσαν) με εμμονή αφοσιωμένα στη δημιουργία οικονομικής
ανάπτυξης.
Ποια μορφή έχει ένα καλύτερο σύστημα;
Δεν έχω ολοκληρωμένη απάντηση και δεν νομίζω ότι την έχει κάποιος άλλος.
Νομίζω όμως ότι βλέπουμε να αναδύεται ένα σχήμα κατά προσέγγιση. Μέρος
της απάντησης βρίσκεται στην έννοια: «ιδιωτική επάρκεια, δημόσια
αφθονία». Ενα άλλο μέρος γεννιέται από τη δημιουργία μιας νέας αντίληψης
της δικαιοσύνης, βασιζόμενης σε αυτή την απλή αρχή: κάθε γενεά, παντού,
πρέπει να έχει το ίδιο δικαίωμα στην απόλαυση του φυσικού πλούτου.
Πιστεύω
ότι το καθήκον μας είναι να εντοπίσουμε τις καλύτερες προτάσεις πολλών
διαφορετικών στοχαστών και να διαμορφώσουμε μια συνεκτική εναλλακτική
λύση. Επειδή κανένα οικονομικό σύστημα δεν είναι μόνον ένα οικονομικό
σύστημα, αλλά παρεμβαίνει σε κάθε όψη της ζωής μας, χρειαζόμαστε πολλά
μυαλά από διάφορες επιστήμες, που θα συνεργαστούν για να δημιουργήσουν
έναν καλύτερο τρόπο για να οργανώνουμε τις ανάγκες μας χωρίς να
καταστρέφουμε το περιβάλλον μας.
ΠΗΓΗ
==================
Walmart is the world's largest retailer by revenue, with sales of
$514 billion from more than 11,000 stores worldwide. Family holding
company Walton Enterprises owns half the retailer, a stake that’s the
foundation of the world's biggest fortune.
Frank Mars learned to hand-dip chocolates as a schoolboy. The
business he went on to establish is best known for M&Ms and Milky
Way and Mars bars, though pet-care products make up about half of the
company's more than $35 billion in revenue. The closely held business is
owned by members of the Mars family.
Brothers Frederick, Charles, David and William inherited father
Fred’s oil firm. A fraternal feud over control of the company in the
early 1980s led Frederick and William to leave the family business while
Charles and David stayed; they have since grown it into Koch
Industries, a conglomerate with annual revenue of about $110 billion.
David and Charles manage a portion of their wealth through a family
office, 1888 Management.
The 87 year-old monarchy after which Saudi Arabia is named can credit
the nation's unrivaled oil reserves for seeding its collective fortune.
This net worth estimate is based on cumulative payouts royal family
members are calculated to have received over the past 50 years from the
Royal Diwan, the executive office of the king. The total wealth
controlled by its estimated 15,000 extended members is likely much
higher. Many royals have made money through brokering government
contracts and land deals and by founding businesses that service state
companies, such as Saudi Aramco. Crown Prince Mohammed bin Salman, son
of Saudi's seventh monarch, King Salman, personally controls assets
worth more than $1 billion.
Brothers Alain and Gerard Wertheimer are reaping the benefits of
their grandfather's funding of designer Coco Chanel in 1920s Paris. The
siblings own the closely held fashion house, which introduced the
"little black dress" to the world and had revenue of $11 billion in
2018. The Wertheimers also own racehorses and vineyards.
Jean-Louis Dumas, who died in 2010, is credited with turning Hermes
into a global giant in luxury fashion. Among the family members who
maintain senior positions at the company are Pierre-Alexis Dumas, the
artistic director, and Axel Dumas, the company chairman.
The collective enterprise of these three Belgian beermaking families
has roots in the 14th century. The Van Damme family joined the others
when the 1987 merger between Piedboeuf and Artois led to the creation of
Interbrew, which merged with Brazil’s AmBev in 2004.
The German drugmaker Boehringer Ingelheim was founded in 1885 by
Albert Boehringer; more than 130 years later, the Boehringer family,
encompassing the von Baumbachs, is still in charge. Chairman Hubertus
von Baumbach and his extended family are owners of the closely held
company.
Dhirubhai Ambani, the father of Mukesh and Anil, started building the
precursor to Reliance Industries in 1957. When Dhirubhai died in 2002
without leaving a will, his widow brokered a settlement between her sons
over control of the family fortune. Mukesh is now at the helm of the
Mumbai-based conglomerate, which owns the world's largest oil refining
complex. He lives in a 27-story mansion that’s been called the world’s
most expensive private residence.
Members of this family are majority owners of Cargill Inc., the
largest closely held company in the U.S. It was founded by William W.
Cargill, who started the commodities business with one grain storage
warehouse in Conover, Iowa, in 1865. His descendants maintain control of
the food, agriculture and industrial giant.
The wealth of Canada’s richest family originated in the early 1930s
when Roy Thomson opened an Ontario radio station. Within five years,
he’d become the country’s leading newspaper owner. The family now holds a
66% stake in financial data and services provider Thomson Reuters,
which it owns through investment firm Woodbridge.
Kwok Tak-seng listed Sun Hung Kai Properties in 1972. The company has
since become one of Hong Kong’s largest property developers and the
basis of the Kwok family fortune. His sons, Walter, Thomas and Raymond,
assumed control when he died in 1990.
Chia Ek Chor fled his typhoon-ravaged village in southern China and
started a new life in Thailand, selling vegetable seeds with his brother
in 1921. Almost a century later, Chia’s son Dhanin Chearavanont is
senior chairman of Charoen Pokphand Group, a conglomerate with food,
retail and telecom units.
The Boston mutual-fund empire was founded by Edward C. Johnson in
Boston in 1946. It is now run by his granddaughter, Abigail. While the
closely held firm has thrived, it’s also been under pressure to slash
fees and commissions as investors increasingly abandon actively managed
strategies for low-cost index funds and ETFs.
The Cox family controls Cox Enterprises, a conglomerate with about
$21 billion in revenue. Its Cox Communications division is the
third-largest cable company in the U.S. James M. Cox founded the company
in 1898. His descendants, including James C. Kennedy and Blair
Parry-Okeden, remain shareholders.
Herbert Quandt helped turn Bayerische Motoren Werke from a struggling
carmaker into one of the world's largest manufacturers of luxury
vehicles. Family matriarch Johanna Quandt died in 2015 and her children,
Stefan Quandt and Susanne Klatten, own nearly half the company.
The son of a Ukrainian immigrant, A.N. Pritzker began investing in
real estate and troubled companies while working for his father’s law
firm. The investments seeded the fortune of one of America’s oldest
dynasties, whose assets include Hyatt Hotels. The family prominently
supports the Democratic Party, with Penny Pritzker serving as U.S.
commerce secretary under President Barack Obama.
The Mulliez family had already built a retail empire by the time
Gerard Mulliez started Auchan, known as France’s Walmart, in 1961.
Auchan has grown into one of Europe’s biggest supermarket chains. The
family holding company, Association Familiale Mulliez, controls a
diverse group of retail businesses, including home-improvement chain
Leroy Merlin.
Five generations of the Johnson family have built SC Johnson into a
household-goods maker. Samuel C. Johnson began selling parquet flooring
in 1882, the business that became the foundation for SC Johnson. H. Fisk
Johnson is the company’s chairman and chief executive. Its brands
include Mr. Muscle, Raid and Windex.
Brothers Theo and Karl Albrecht took over their parents’ grocery
store after returning home from World War II and turned it into Aldi, a
national chain of discount supermarkets. The brothers divided the
business in the 1960s. The two branches – Aldi Nord and Aldi Sued – now
have more than 10,000 stores combined. Theo’s side of the family also
owns Trader Joe’s, which it bought in 1979.
The family’s wealth originated with the drink cartons pioneered by
Ruben Rausing in Sweden in the 1950s. Descendants of Ruben’s son, Gad,
control closely held Tetra Laval, one of the world’s biggest packaging
companies. Another son of Ruben's, Hans, sold his stake in the business
to Gad in 1995 and has since invested in eco-friendly packaging and
equities through London-based Alta Advisers.
Oei Wie Gwan purchased a cigarette brand in 1950 and renamed it
Djarum. The business started as a 10-person operation and has grown into
one of the largest cigarette makers in Indonesia. After Oei died in
1963, his sons Michael and Budi diversified by investing in Bank Central
Asia. Their stake now makes up most of the family's fortune.
Queens-native Estee Lauder founded a business selling skin care
products in 1946 with her husband, Joseph. Today her eponymous company
sells $14 billion of cosmetics and fragrances. Art collector and company
Chairman Emeritus Leonard has donated hundreds of his pieces, from
vintage postcards to Picassos, to museums.
Drug maker Roche Holding was founded by entrepreneur Fritz
Hoffmann-La Roche in 1896. His descendants now control a 9% stake in the
company, whose blockbuster oncology drugs helped the group generate $58
billion in 2018 revenue. Family members have been prominent supporters
of nature conservation.
Michele Ferrero built a global chocolate confectionery company from a
start in the small Italian town of Alba. His son Giovanni took sole
helm of the family business after his brother Pietro died in a cycling
accident in 2011. Ferrero acquired Nestle's U.S. candy business for $2.8
billion in 2018.
==================
Παλαιότερα,
τα δεκανίκια του κεφαλαίου ήταν οι επιδοτήσεις, οι επιχορηγήσεις, οι
φορολογικές απαλλαγές, οι φορολογικές μεταβιβάσεις και οι κάθε είδους
λαμογιές που τους επέτρεπε και παρείχε το Σύστημα. Επειδή όμως οι
κρατικοί προϋπολογισμοί έχουν ένα σχετικό όριο, ανακάλυψαν την νέα
νομισματική πολιτική η οποία χρησιμοποιείται για την επιδότηση του
Κεφαλαίου και ελάχιστα για την πραγματική οικονομία.
Έτσι το Bloomberg μας πληροφορεί ότι η πιο πλούσια οικογένεια του κόσμου, κερδίζει 70.000 το λεπτό ή 4.000.000 την ώρα ή αν προτιμάτε 100.000.000 δολάρια τη μέρα.
Αυτό είναι ένα από τα πολλά παραδείγματα υπερσυσσώρευσης κεφαλαίου-πλούτου. Και μαντέψτε πώς πολεμάμε τον αποπληθωρισμό; Κάνοντας τα χρήματα ευκολότερα και πιο άφθονα, διογκώνοντας τις χρηματιστηριακές αγορές, γεγονός που αυξάνει περαιτέρω τον πλούτο εκείνων που ευθύνονται για την κρίση! Η κλεπτοκρατική τάξη ανακάλυψε την αέναη κίνηση του πλουτισμού χωρίς να κάνει τίποτα, χωρίς να επενδύει, χωρίς να παράγει. Στην υγειά τους ρε παιδιά!
Έτσι το Bloomberg μας πληροφορεί ότι η πιο πλούσια οικογένεια του κόσμου, κερδίζει 70.000 το λεπτό ή 4.000.000 την ώρα ή αν προτιμάτε 100.000.000 δολάρια τη μέρα.
Αυτό είναι ένα από τα πολλά παραδείγματα υπερσυσσώρευσης κεφαλαίου-πλούτου. Και μαντέψτε πώς πολεμάμε τον αποπληθωρισμό; Κάνοντας τα χρήματα ευκολότερα και πιο άφθονα, διογκώνοντας τις χρηματιστηριακές αγορές, γεγονός που αυξάνει περαιτέρω τον πλούτο εκείνων που ευθύνονται για την κρίση! Η κλεπτοκρατική τάξη ανακάλυψε την αέναη κίνηση του πλουτισμού χωρίς να κάνει τίποτα, χωρίς να επενδύει, χωρίς να παράγει. Στην υγειά τους ρε παιδιά!
The World’s Wealthiest Family Gets $4 Million Richer Every Hour
From left: Jim Walton, Alice Walton, Jim's wife Lynne McNabb Walton, Rob
Walton's wife Melani Lowman Walton and Rob Walton.
Photograph: Rick T. Wilking / Stringer
The 25 wealthiest dynasties on the planet control $1.4 trillion
August 10, 2019
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 U.S. would’ve made about 6 cents in that time, on the way to an $11 hourly minimum.
Even in this era of extreme wealth and brutal inequality, the contrast is jarring. The heirs of Sam Walton, Walmart’s notoriously frugal founder, are amassing wealth on a near-unprecedented scale — and they’re hardly alone.
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.
So it goes around the globe. America’s richest 0.1% today control more wealth than at any time since 1929, but their counterparts in Asia and Europe are gaining too. Worldwide, the 25 richest families now control almost $1.4 trillion in wealth, up 24% from last year.
To some critics, such figures are evidence that capitalism needs fixing. Inequality has become an explosive political issue, from Paris to Seattle to Hong Kong. But how to shrink the growing gap between the rich and the poor?
As the tension increases, even some billionaire heirs are backing steps such as wealth taxes.
“If we don’t do something like this, what are we doing, just hoarding this wealth in a country that’s falling apart at the seams?” Liesel Pritzker Simmons, whose family ranks 17th on the Bloomberg list, said in June. “That’s not the America we want to live in.”
A notable addition this year: the Saudi royal family.
The House of Saud is worth $100 billion, based on the cumulative payouts royal family members are estimated to have received over the past 50 years from the Royal Diwan, the executive office of the king.
That’s a lowball figure. After all, oil giant Saudi Aramco, the linchpin of the Saudi economy, is the world’s most profitable company. The kingdom is hoping to take it public at a $2 trillion valuation.
Tallying dynastic dollars isn’t an exact science. Fortunes backed by decades and sometimes centuries of assets and dividends can obfuscate the true extent of a family’s holdings. The net worth of the Rothschilds or Rockefellers, for instance, is too diffuse to value. Clans whose wealth is currently unverifiable are also absent.
But of those we can track, most are reaping the rewards of ultra-low interest rates, tax cuts, deregulation and innovation. Koch Industries, for instance, has a venture-capital arm. The latest generation of Waltons is establishing its own enterprises.
Other big gainers include the owners of fashion house Chanel and Italy’s Ferrero family, whose brands include Nutella spread and Tic Tac mints. In India, the fortune of the Ambani family swelled $7 billion, to $50 billion.
In all, the world’s 25 richest families have $250 billion more wealth, compared to last year.
The rich aren’t necessarily getting richer together. The Quandt family dropped eight places following a poor year for Bayerische Motoren Werke AG, which has battled trade tensions and slowing global markets as BMW invests in the disruptive shift to self-driving electric vehicles. The Dassault, Duncan, Lee and Hearst families all fell from the list.
And this could in many ways represent a peak, as U.S. President Donald Trump escalates a trade war with China and worries grow about a global recession.
“It can be very challenging to preserve wealth over the long-term,” said Rebecca Gooch, research director at Campden Wealth, a network and education business for generational-wealth holders. “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.”
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 U.S. would’ve made about 6 cents in that time, on the way to an $11 hourly minimum.
Even in this era of extreme wealth and brutal inequality, the contrast is jarring. The heirs of Sam Walton, Walmart’s notoriously frugal founder, are amassing wealth on a near-unprecedented scale — and they’re hardly alone.
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.
So it goes around the globe. America’s richest 0.1% today control more wealth than at any time since 1929, but their counterparts in Asia and Europe are gaining too. Worldwide, the 25 richest families now control almost $1.4 trillion in wealth, up 24% from last year.
To some critics, such figures are evidence that capitalism needs fixing. Inequality has become an explosive political issue, from Paris to Seattle to Hong Kong. But how to shrink the growing gap between the rich and the poor?
Read more on the families
- Saudi Prince’s Rise to Power Turns Him Into a Billionaire Boss
- Check back for more coverage all week
“If we don’t do something like this, what are we doing, just hoarding this wealth in a country that’s falling apart at the seams?” Liesel Pritzker Simmons, whose family ranks 17th on the Bloomberg list, said in June. “That’s not the America we want to live in.”
A notable addition this year: the Saudi royal family.
The House of Saud is worth $100 billion, based on the cumulative payouts royal family members are estimated to have received over the past 50 years from the Royal Diwan, the executive office of the king.
That’s a lowball figure. After all, oil giant Saudi Aramco, the linchpin of the Saudi economy, is the world’s most profitable company. The kingdom is hoping to take it public at a $2 trillion valuation.
Tallying dynastic dollars isn’t an exact science. Fortunes backed by decades and sometimes centuries of assets and dividends can obfuscate the true extent of a family’s holdings. The net worth of the Rothschilds or Rockefellers, for instance, is too diffuse to value. Clans whose wealth is currently unverifiable are also absent.
But of those we can track, most are reaping the rewards of ultra-low interest rates, tax cuts, deregulation and innovation. Koch Industries, for instance, has a venture-capital arm. The latest generation of Waltons is establishing its own enterprises.
Other big gainers include the owners of fashion house Chanel and Italy’s Ferrero family, whose brands include Nutella spread and Tic Tac mints. In India, the fortune of the Ambani family swelled $7 billion, to $50 billion.
In all, the world’s 25 richest families have $250 billion more wealth, compared to last year.
The rich aren’t necessarily getting richer together. The Quandt family dropped eight places following a poor year for Bayerische Motoren Werke AG, which has battled trade tensions and slowing global markets as BMW invests in the disruptive shift to self-driving electric vehicles. The Dassault, Duncan, Lee and Hearst families all fell from the list.
And this could in many ways represent a peak, as U.S. President Donald Trump escalates a trade war with China and worries grow about a global recession.
“It can be very challenging to preserve wealth over the long-term,” said Rebecca Gooch, research director at Campden Wealth, a network and education business for generational-wealth holders. “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.”
1
NameWalton
CompanyWalmart
Movement
up
Wealth$190.5bn
LocationBentonville, Arkansas
Generations3
Walmart is the world's largest retailer by revenue, with sales of
$514 billion from more than 11,000 stores worldwide. Family holding
company Walton Enterprises owns half the retailer, a stake that’s the
foundation of the world's biggest fortune.
Did you knowFamily's 50% stake in Walmart paid out $3 billion in dividends last year.
1945: Sam Walton buys his first store.
1992: Sam Walton dies. Eldest son Rob becomes chairman.
2016: Steuart Walton replaces his father Jim on the board of Walmart.
2
NameMars
CompanyMars
Movement
up
Wealth$126.5bn
LocationMcLean, Virginia
Generations5
Frank Mars learned to hand-dip chocolates as a schoolboy. The
business he went on to establish is best known for M&Ms and Milky
Way and Mars bars, though pet-care products make up about half of the
company's more than $35 billion in revenue. The closely held business is
owned by members of the Mars family.
Did you knowSnickers bar was named after a favorite family horse.
1883: Frank Mars is born. He contracts polio as a young boy and is unable to walk to school.
1932: Forrest E. Mars Sr. moves to the U.K.
1963: Mars opens a chocolate factory in the Netherlands.
1999: Forrest E. Mars Jr. retires from active management.
2017: Mars completes acquisition of pet health-care company VCA.
3
NameKoch
CompanyKoch Industries
Movement
up
Wealth$124.5bn
LocationWichita, Kansas
Generations3
Brothers Frederick, Charles, David and William inherited father
Fred’s oil firm. A fraternal feud over control of the company in the
early 1980s led Frederick and William to leave the family business while
Charles and David stayed; they have since grown it into Koch
Industries, a conglomerate with annual revenue of about $110 billion.
David and Charles manage a portion of their wealth through a family
office, 1888 Management.
Did you knowDavid
Koch ran for U.S. vice president on the Libertarian Party ticket in
1980 with Ed Clark, receiving about 1% of the national vote.
1940: Fred Koch co-founds the Wood River Oil & Refining Co.
1961: Charles Koch joins his father Fred at the company.
2018: Deteriorating health forces David Koch to step down from leadership positions in his family's business.
4
NameAl Saud
CompanyN/A
Movement
New
Wealth$100bn
LocationRiyadh, Saudi Arabia
Generations2
The 87 year-old monarchy after which Saudi Arabia is named can credit
the nation's unrivaled oil reserves for seeding its collective fortune.
This net worth estimate is based on cumulative payouts royal family
members are calculated to have received over the past 50 years from the
Royal Diwan, the executive office of the king. The total wealth
controlled by its estimated 15,000 extended members is likely much
higher. Many royals have made money through brokering government
contracts and land deals and by founding businesses that service state
companies, such as Saudi Aramco. Crown Prince Mohammed bin Salman, son
of Saudi's seventh monarch, King Salman, personally controls assets
worth more than $1 billion.
Did you knowCrown
Prince Mohammed bin Salman imprisoned Saudi royals in Riyadh's
Ritz-Carlton at the end of 2017 in a crackdown on purported corruption.
1902: Ibn Saud, founder of modern Saudi Arabia,
reclaims his ancestral home of Riyadh, kicking off three decades of
territorial conquests.
2019: Aramco issues a prospectus, revealing it to be the world's most profitable company.
5
NameWertheimer
CompanyChanel
Movement
up
Wealth$57.6bn
LocationParis
Generations3
Brothers Alain and Gerard Wertheimer are reaping the benefits of
their grandfather's funding of designer Coco Chanel in 1920s Paris. The
siblings own the closely held fashion house, which introduced the
"little black dress" to the world and had revenue of $11 billion in
2018. The Wertheimers also own racehorses and vineyards.
Did you knowCoco Chanel attempted to wrest control of the company from the Wertheimers with the help of the Nazis during World War II.
1924: Pierre Wertheimer negotiates a perfume contract with fashionista Coco Chanel.
1965: Jacques Wertheimer, known as "the kid" to Coco Chanel, takes over after his father's death.
2018: Chanel releases its financial results for the first time.
6
NameHermes
CompanyHermes
Movement
up
Wealth$53.1bn
LocationParis
Generations6
Jean-Louis Dumas, who died in 2010, is credited with turning Hermes
into a global giant in luxury fashion. Among the family members who
maintain senior positions at the company are Pierre-Alexis Dumas, the
artistic director, and Axel Dumas, the company chairman.
Did you knowTsar Nicholas II of Russia was a client.
1837: Thierry Hermes starts to make riding gear for noblemen.
1880: Business moves to 24 Faubourg Saint-Honore, Paris.
1902: Grandsons Emile Maurice Hermes and Adolphe Hermes become joint presidents of the company.
1950s: Emile's sons-in-law, Robert Dumas and Jean-Rene Guerrand, diversify operations.
1978: Jean-Louis Dumas establishes global network of stores.
2013: Axel Dumas becomes co-CEO
7
NameVan Damme, De Spoelberch, De Mevius
CompanyAnheuser-Busch InBev
Movement
down
Wealth$52.9bn
LocationBelgium
Generations5
The collective enterprise of these three Belgian beermaking families
has roots in the 14th century. The Van Damme family joined the others
when the 1987 merger between Piedboeuf and Artois led to the creation of
Interbrew, which merged with Brazil’s AmBev in 2004.
Did you knowFlagship beer Stella Artois was originally brewed in 1926 as a Christmas beer.
1895: Edmond Willems, owner of the Artois brewery, dies.
1926: Brewery releases Stella Artois as a Christmas beer.
1968: Artois takes over the Dommelsch Brewery.
1987: Merger of Artois and Piedboeuf breweries.
2008: Anheuser-Busch and InBev combine.
8
NameBoehringer, Von Baumbach
CompanyBoehringer Ingelheim
Movement
up
Wealth$51.9bn
LocationIngelheim, Germany
Generations4
The German drugmaker Boehringer Ingelheim was founded in 1885 by
Albert Boehringer; more than 130 years later, the Boehringer family,
encompassing the von Baumbachs, is still in charge. Chairman Hubertus
von Baumbach and his extended family are owners of the closely held
company.
Did you knowLogo of company is a stylized depiction of the central section of the imperial palace of European emperor Charlemagne.
1885: Albert Boehringer buys a small tartar factory in Germany.
1939: Albert Boehringer dies.
1992: Erich von Baumbach, son-in-law of Albert Boehringer Jr., is appointed chair of shareholders' committee.
2010: Company celebrates its 125th anniversary.
9
NameAmbani
CompanyReliance Industries
Movement
up
Wealth$50.4bn
LocationMumbai
Generations3
Dhirubhai Ambani, the father of Mukesh and Anil, started building the
precursor to Reliance Industries in 1957. When Dhirubhai died in 2002
without leaving a will, his widow brokered a settlement between her sons
over control of the family fortune. Mukesh is now at the helm of the
Mumbai-based conglomerate, which owns the world's largest oil refining
complex. He lives in a 27-story mansion that’s been called the world’s
most expensive private residence.
Did you knowMukesh stepped in to help younger brother Anil pay an $80 million debt and avert a three-month jail sentence in March 2019.
1957: Dhirubhai Ambani returns to India from Yemen.
2002: Elder son Mukesh takes over chairmanship.
2014: Siblings Isha and Akash join the boards of retail and mobile units.
10
NameCargill, MacMillan
CompanyCargill
Movement
up
Wealth$42.9bn
LocationMinneapolis
Generations6
Members of this family are majority owners of Cargill Inc., the
largest closely held company in the U.S. It was founded by William W.
Cargill, who started the commodities business with one grain storage
warehouse in Conover, Iowa, in 1865. His descendants maintain control of
the food, agriculture and industrial giant.
Did you knowIn
2017, Cargill invested $500 million in a factory that can produce up to
200,000 tons of fish and livestock feed annually from bacteria fed on
methane.
1865: William W. Cargill becomes the owner of a grain warehouse.
1884: John H. MacMillan starts working in his father's bank in Wisconsin.
1932: John MacMillan Jr. becomes general manager as his father experiences health issues.
1960: Erwin Kelm becomes first Cargill president who is not a family member.
1980: Cargill enters the coffee-trading business.
2011: Mosaic Co. and Cargill agree to split off.
11
NameThomson
CompanyThomson Reuters
Movement
up
Wealth$39.1bn
LocationOntario, Canada
Generations3
The wealth of Canada’s richest family originated in the early 1930s
when Roy Thomson opened an Ontario radio station. Within five years,
he’d become the country’s leading newspaper owner. The family now holds a
66% stake in financial data and services provider Thomson Reuters,
which it owns through investment firm Woodbridge.
Did you knowFamily sold a 55% stake in its financial and risk unit to a group led by Blackstone for about $20 billion in 2018.
1934: Roy Thomson buys his first newspaper, the Timmins Press.
2006: Ken Thomson dies.
2018: Thomson Reuters sells a majority stake in its financial and risk unit to Blackstone.
12
NameKwok
CompanySun Hung Kai Properties
Movement
up
Wealth$38bn
LocationHong Kong
Generations3
Kwok Tak-seng listed Sun Hung Kai Properties in 1972. The company has
since become one of Hong Kong’s largest property developers and the
basis of the Kwok family fortune. His sons, Walter, Thomas and Raymond,
assumed control when he died in 1990.
Did you knowWalter Kwok was kidnapped in 1997 and was released about a week later, after a ransom of nearly $80 million had been paid.
1972: Kwok Tak-Seng, a grocery wholesaler, incorporates Sun Hung Kai Properties.
2008: Walter Kwok is ousted as chairman after a feud with his brothers.
2018: Geoffrey Kwok is appointed as non-executive director of Sun Hung Kai Properties.
13
NameChearavanont
CompanyCharoen Pokphand Group
Movement
New
Wealth$37.9bn
LocationBangkok
Generations4
Chia Ek Chor fled his typhoon-ravaged village in southern China and
started a new life in Thailand, selling vegetable seeds with his brother
in 1921. Almost a century later, Chia’s son Dhanin Chearavanont is
senior chairman of Charoen Pokphand Group, a conglomerate with food,
retail and telecom units.
Did you knowCP Group is a major conduit for Chinese investment in Thailand.
1921: Chia Ek Chor and brother set up a seed shop in Bangkok.
1939: Dhanin Chearavanont is born, the youngest of four brothers.
2017: Two of Dhanin's sons become CEO and chairman.
2018: LOTS Wholesale Solutions, a subsidiary of Siam Makro, opens its first store in India.
14
NameJohnson (Fidelity)
CompanyFidelity Investments
Movement
New
Wealth$37.4bn
LocationBoston
Generations3
The Boston mutual-fund empire was founded by Edward C. Johnson in
Boston in 1946. It is now run by his granddaughter, Abigail. While the
closely held firm has thrived, it’s also been under pressure to slash
fees and commissions as investors increasingly abandon actively managed
strategies for low-cost index funds and ETFs.
Did you knowAbigail Johnson, CEO of Fidelity Investments, worked as a waitress and T-shirt vendor during her high school summers.
1946: Fidelity Management & Research is founded.
1977: Ned Johnson becomes CEO.
2014: Abigail Johnson becomes CEO of Fidelity.
15
NameCox
CompanyCox Enterprises
Movement
up
Wealth$36.9bn
LocationAtlanta
Generations4
The Cox family controls Cox Enterprises, a conglomerate with about
$21 billion in revenue. Its Cox Communications division is the
third-largest cable company in the U.S. James M. Cox founded the company
in 1898. His descendants, including James C. Kennedy and Blair
Parry-Okeden, remain shareholders.
Did you knowFounder James Cox ran for president in 1920 as a Democrat. He lost to Warren G. Harding.
1898: James M. Cox buys a newspaper.
1957: Jim Cox Jr. takes over the company after his father's death.
1988: Jim Kennedy, grandson of founder James Cox, is promoted to CEO and chairman.
2018: Alex Taylor takes charge of Cox Enterprises.
16
NameQuandt
CompanyBMW
Movement
down
Wealth$35bn
LocationMunich
Generations4
Herbert Quandt helped turn Bayerische Motoren Werke from a struggling
carmaker into one of the world's largest manufacturers of luxury
vehicles. Family matriarch Johanna Quandt died in 2015 and her children,
Stefan Quandt and Susanne Klatten, own nearly half the company.
Did you knowSusanne Klatten complained in June 2019 that inheriting wealth is a burden.
1883: Emil Quandt acquires a textile company owned by his late father-in-law.
1933: Guenther Quandt joins the Nazi Party.
1954: Herbert Quandt inherits the business and later increases its holding in BMW to 50%.
2015: Johanna Quandt, Herbert's widow, dies.
17
NamePritzker
CompanyHyatt Hotels
Movement
down
Wealth$33.7bn
LocationChicago
Generations4
The son of a Ukrainian immigrant, A.N. Pritzker began investing in
real estate and troubled companies while working for his father’s law
firm. The investments seeded the fortune of one of America’s oldest
dynasties, whose assets include Hyatt Hotels. The family prominently
supports the Democratic Party, with Penny Pritzker serving as U.S.
commerce secretary under President Barack Obama.
Did you knowJ.B. Pritzker is the governor of Illinois.
1881: Nicholas Pritzker arrives in Chicago.
1936: A.N. Pritzker and brother Jack branch out from law and start investing in real estate.
1957: Nicholas's grandsons Jay and Donald Pritzker create the Hyatt Hotel chain.
1999: Jay Pritzker dies.
18
NameMulliez
CompanyAuchan
Movement
down
Wealth$33bn
LocationLille, France
Generations4
The Mulliez family had already built a retail empire by the time
Gerard Mulliez started Auchan, known as France’s Walmart, in 1961.
Auchan has grown into one of Europe’s biggest supermarket chains. The
family holding company, Association Familiale Mulliez, controls a
diverse group of retail businesses, including home-improvement chain
Leroy Merlin.
Did you knowThe Mulliez grandchildren work in Auchan stores during the holidays or weekends.
1931: Gerard Mulliez is born into a family that runs a clothing company.
1961: Mulliez opens the first Auchan store in France.
1998: Auchan expands into Hungary.
2016: 100th hypermarket opens in Russia.
19
NameJohnson (SC)
CompanySC Johnson
Movement
up
Wealth$33bn
LocationRacine, Wisconsin
Generations5
Five generations of the Johnson family have built SC Johnson into a
household-goods maker. Samuel C. Johnson began selling parquet flooring
in 1882, the business that became the foundation for SC Johnson. H. Fisk
Johnson is the company’s chairman and chief executive. Its brands
include Mr. Muscle, Raid and Windex.
Did you knowCompany headquarters was designed by Frank Lloyd Wright.
1886: Samuel C. Johnson starts touring the countryside, selling flooring,
1906: Herbert F. Johnson Sr. becomes a partner.
1928: Herbert F. Johnson Jr. inherits the company at age 28, after his father's death.
1955: Samuel C. Johnson, great-grandson of the founder, becomes head of the new products division.
1992: SC Johnson buys the Drackett Co.
20
NameAlbrecht
CompanyAldi
Movement
down
Wealth$32.6bn
LocationEssen and Muelheim, Germany
Generations3
Brothers Theo and Karl Albrecht took over their parents’ grocery
store after returning home from World War II and turned it into Aldi, a
national chain of discount supermarkets. The brothers divided the
business in the 1960s. The two branches – Aldi Nord and Aldi Sued – now
have more than 10,000 stores combined. Theo’s side of the family also
owns Trader Joe’s, which it bought in 1979.
Did you knowBrothers Theo and Karl Albrecht split the business over a dispute about whether or not to sell cigarettes in their stores.
1913: Albrecht grocery store is opened in Essen, Germany,
1971: Theo Albrecht kidnapped for 17 days and $2 million is paid for his release.
2014: Karl Albrecht dies.
21
NameRausing
CompanyTetra Laval
Movement
up
Wealth$32.5bn
LocationLondon
Generations3
The family’s wealth originated with the drink cartons pioneered by
Ruben Rausing in Sweden in the 1950s. Descendants of Ruben’s son, Gad,
control closely held Tetra Laval, one of the world’s biggest packaging
companies. Another son of Ruben's, Hans, sold his stake in the business
to Gad in 1995 and has since invested in eco-friendly packaging and
equities through London-based Alta Advisers.
Did you knowHans
Kristian Rausing, a member of the third generation, pleaded guilty to
preventing the burial of his wife in 2012 after she died from a drug
overdose
1929: Ruben Rausing becomes a partner in a packaging company.
1995: Hans Rausing sells his shares to brother Gad.
2017: Kirsten Rausing is elected chair of the International Thoroughbred Breeders’ Federation.
22
NameHartono
CompanyBank Central Asia
Movement
New
Wealth$32.5bn
LocationKudus, Indonesia
Generations3
Oei Wie Gwan purchased a cigarette brand in 1950 and renamed it
Djarum. The business started as a 10-person operation and has grown into
one of the largest cigarette makers in Indonesia. After Oei died in
1963, his sons Michael and Budi diversified by investing in Bank Central
Asia. Their stake now makes up most of the family's fortune.
Did you knowBudi Hartono founded the Djarum badminton club.
1950: Oei Wie Gwan buys the cigarette brand that became Djarum.
1963: Oei Wie Gwan dies, leaving the company to two sons.
2016: Armand Wahyudi Hartono becomes vice president director of BCA.
23
NameLauder
CompanyEstee Lauder
Movement
up
Wealth$32.3bn
LocationNew York
Generations3
Queens-native Estee Lauder founded a business selling skin care
products in 1946 with her husband, Joseph. Today her eponymous company
sells $14 billion of cosmetics and fragrances. Art collector and company
Chairman Emeritus Leonard has donated hundreds of his pieces, from
vintage postcards to Picassos, to museums.
Did you knowRonald Reagan named Ronald Lauder U.S. ambassador to Austria in 1986.
1947: Estee Lauder receives her first major order, for $800 of products from Saks Fifth Avenue.
1995: Estee Lauder retires.
2009: Grandson William Lauder, who expanded the company's international presence as CEO, becomes chairman.
24
NameHoffmann, Oeri
CompanyRoche
Movement
up
Wealth$31.3bn
LocationBasel, Switzerland
Generations4
Drug maker Roche Holding was founded by entrepreneur Fritz
Hoffmann-La Roche in 1896. His descendants now control a 9% stake in the
company, whose blockbuster oncology drugs helped the group generate $58
billion in 2018 revenue. Family members have been prominent supporters
of nature conservation.
Did you knowFamily set up its own bank — Scobag Privatbank — to manage its fortune.
1896: Fritz Hoffmann-La Roche launches a medicine company at 28.
1932: Fritz Hoffmann's son Emanuel dies in a traffic accident.
1953: Lukas Hoffmann joins the Roche board.
1996: Andre Hoffmann joins the board of Roche.
25
NameFerrero
CompanyFerrero
Movement
up
Wealth$29.8bn
LocationAlba, Italy
Generations3
Michele Ferrero built a global chocolate confectionery company from a
start in the small Italian town of Alba. His son Giovanni took sole
helm of the family business after his brother Pietro died in a cycling
accident in 2011. Ferrero acquired Nestle's U.S. candy business for $2.8
billion in 2018.
Did you knowMichele Ferrero's motto was “work, create, donate.”
1946: Pietro Ferrero creates a sweet paste from hazelnuts, sugar and cocoa in war-ravaged Italy.
1964: First jar of Nutella is produced.
2017: Ferrero appoints its first non-family chief executive, Lapo Civiletti.
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