America is not only the land of the free and the home of the brave but also the home of multiple billionaires. There are a lot of young individuals out there today, who are millionaires, but a lot of the wealth is being held by the older generations.
These families have their hands in several different industries, and that is why they are still able to make huge amounts of money. Among them are the famous Kardashians, the Cannon family, and the Filos, creators of Yahoo.
The Kardashian-Jenner Family
Family Business: Keeping Up With the Kardashians
Industry: Media, Cosmetics
Prominent Member: Kylie Jenner
Their reality show is a legend on its own, as it is one of the longest-running reality series to ever hit the screens. It is full to the brim with the everyday life of the stars as well as all the drama that accompanies the Kardashian-Jenner household. The family makes money from other side projects as well, and they own several different businesses including in the cosmetic and fashion industries. They also promote different products and use their social media accounts to advertise whatever they are being paid for.
If we take all the wealth in the household together and combine it, we get about two billion dollars. Half of those are contributed by Kylie Jenner alone. She is the youngest billionaire in the United States and that is all thanks to her Kylie Cosmetics company.
The Jolie Family
Family Business: Jolie Pas
Industry: Film & TV
Prominent Member: Angelina Jolie
Angelina Jolie made a name for herself in Hollywood thanks to her skill on the screen, as opposed to being the daughter of a famous actor. Nobody questioned her talent, especially since her performance in Girl, Interrupted earned her an Oscar.
Angelina is actually now in the directing waters and produces her own movies as opposed to starring in them. And with directing she is earning much more money than she was when she was acting. She is also tied to numerous different sponsorship contracts, so the money flows in from those as well.
The Marshall Family
Family Business: Koch Industries
Prominent Member: J. Howard II
Howard left his shares of stock to his son J. Howard II, who was not the best example of how to take over a legacy. He actually caused quite a few headaches for the family, because he got into so much trouble with the law.
He then married former Playboy model Anna Nicole Smith in what was quite a huge news story at the time. She was decades younger than him. She actually inherited most of the fortune, and the other family was so infuriated that they even brought her to court for it.
The Wynn Family
Family Business: Wynn Resorts
Prominent Member: Steve Wynn
His success made it possible for him to create his very own resort - the Wynn Resorts. It was one of the most powerful construction companies ever, responsible for the erection of numerous hotels across the globe. Elaine, his wife, was also a huge part of the company and held the position of head of the board for well over a decade.
It was in the 2000s when the company started to sink. The Wynn Resorts stocks were reaching record lows day after day. They managed to turn it all around yet again thanks to some serious restructuring of the business, and they are now well on track to their former glory.
The Powell-Jobs Family
Family Business: Apple, Inc.
Prominent Member: Steve Jobs
Jobs and Steve Wozniak began Apple with a tiny objective in 1976: a groundbreaking private computer. Apple I's machine was a small success. But they did not really shoot to fame until the Apple II.
The business has grown from there to the huge conglomerate it is today, thereby making the Powell-Jobs family highly rich. Unfortunately, in 2003, jobs were diagnosed with pancreatic cancer. People with pancreatic cancer usually do not make it for too long. But Jobs was fortunate enough that it was more of a more slow-acting type. He died in 2011, leaving behind a huge heritage of advances in technology.
The Bezos Family
Family Business: Amazon
Prominent Member: Jeff Bezos
He was born without a silver spoon, however. His mother was still a teenager when Jeff was born, and his father was the owner of a small bike shop. To make matters worse, his parents got divorced when he was just 4-years-old. His mother later got married to Mark Bezos, who was an immigrant from Cuba.
Bezos went to Princeton, and after his graduation, he had numerous offers on his table from several different major tech companies of the time. He even worked on Wall Street as a hedge fund manager back in the 1980s. It was in the year 1994 when he decided to bring Amazon to life. Amazon was actually only a very simple bookstore at its beginning but soon grew to the online store that we all know and love. Amazon has recently even bought out the grocery chain Whole Foods.
The Riney Family
Family Business: Scottrade
Prominent Member: Rodger Riney
Because of the deregulation of the brokerage industry back in the 1970s, Riney set forth and started and Scottsdale Securities. The main mission of Scottsdale was to provide trades at a lower commission. The business later branched on to St. Louis. Their internet trading platform has been around since 1996.
The name was later shortened and changed to Scottrade. Riney developed a reputation for being a conservative manager, and Scottrade is one of the best companies one can work for, according to its workers.
The Lauder Family
Family Business: Estée Lauder
Prominent Member: Leonard Lauder
Their company was nestled in New York City and offered no more than four basic products: cleansing oil, a crème pack, all-purpose crème, and skin lotion. However, they were all very high quality, and soon became a hit amongst New Yorkers. It took them only two years to save up enough money to open a department store on Saks Fifth Avenue.
Over the next fifteen years, the business saw an expansion of the products being offered. The brand released new labels such as Aramis and Clinique. Then, in the 1990s, Estée Lauder even managed to make it to the top of international sales. Even though they are such a big brand right now, it is all still in the hands of the Lauder family.
The Spielberg Family
Family Business: Amblin, DreamWorks
Prominent Member: Steven Spielberg
Spielberg along with his wife Kate Capshaw and their children hold on to a wealth of about $3.7 billion. You would think that the vast majority of that treasure comes from his film work, but you would be wrong. Spielberg and his wife made numerous real estate investments throughout the years and managed to turn them into a profit.
Spielberg is not only a director but also a producer. Not only that, he even owns a studio that you might recognize – DreamWorks. It is a mini-studio compared to other Hollywood studios, but it is single-handedly responsible for huge hits such as the Transformers franchise and the Shrek films. And yes, you guessed it, a high percentage of sales from those two franchises goes straight into Spielberg's pocket.
The Ziff Family
Family Business: Ziff Davis, Inc.
Industry: Investing, Publishing
Prominent Member: Dirk Ziff
The brothers who started the investment firm, Dirk and Robert, have long since gone their separate ways and are now pursuing businesses that they prefer. They were born into wealth, prior to starting their own firm. The family's fortune is actually closely tied to William Ziff Sr.’s publishing company.
The latter firm actually continued to grow when William Jr. took over. You might recognize them for publishing the PC Magazine and Car and Driver. The majority of the wealth is now brought in from several different investments. Dirk is now actually the owner of a capital company in New York.
The Cannon Family
Family Business: TeenNick
Prominent Member: Nick Cannon
He soon became famous thanks to his hits like “Nick’s Story,” “Can I Live?” and “Teach Me How to Dougie.” He then decided that it was time for him to start his own label, and shortly after he opened up his own small record company.
Cannon is also known for his marriage to Mariah Carey, with whom he had three children. They were one of the first power couples of our time until they got divorced later down the road. Nick is now the mastermind behind TeenNick for the Nickelodeon TV network. He also signed an exclusive deal with NBC.
The Carey Family
Family Business: The Music of Mariah Carey
Prominent Member: Mariah Carey
Also from Carey's many world trips, music permits, and sponsorship agreements, the Carey family minted a tiny side fortune. Her two kids may be too young to use a lot of the $300 million, but that will alter as quickly as they start filling the garage up with numerous expensive cars.
Over the years, Carey's many divorces divided her true wealth. But with record revenues globally over 200 million, it's safe to say that she is likely going to be okay.
The Carter Family
Family Business: Roc Nation
Prominent Member: Beyoncé, Jay-Z
The merged Carter family maintains approximately $1.3 billion in wealth. Believe it or not, Jay-Z and his record business, Roc Nation, can be ascribed for most of this achievement. Many of the biggest and bestselling albums of the last ten years have been pumped out by the label.
But the amazing fortune of the Carter remains to grow as the pair continues to pump music out, tour the globe, and invest in stuff. They are moguls of real estate in particular.
The Butt Family
Family Business: H.E. Butt
Prominent Member: Charles Butt
Florence Butt founded and opened the store due to her husband's inability to work. He was diagnosed with tuberculosis, and the costs of living skyrocketed. She wanted a store so that they would be able to afford to pay the bills for his treatment, but the community actually loved the place and it all took off immensely. Howard Butt, her son, later took over and under his guidance, the company continued to grow.
Charles Howard, his son, took over and is now the mastermind behind this multi-billion-dollar enterprise. He took the seat of CEO back in 1971 and has been there ever since. The enterprise now owns 329 stores in Texas and 54 stores in Mexico. The estimated worth is set at $22 billion.
The Jackson Family
Family Business: The Michael Jackson Estate
Prominent Member: Michael Jackson
Today, the property of Jackson funnels millions to his expanded family members. Neverland Ranch continues to be one of America's most costly real estate pieces.
During his lifetime, Jackson experienced intense controversy, one that follows him long after his death. But few can reject the impact of the singer on music, and the fact that he remains one of history's most lucrative single artists.
The Lucas Family
Family Business: LucasFilm
Prominent Member: George Lucas
Thanks to Star Wars and a contract that he had signed with 20th Century Fox allowed him to gather quite a fortune that he invested in numerous different film companies. He was the owner of THX, which was the company that revolutionized sound technology. His LucasFilm is probably the most famous one and is behind numerous different movies.
He also pioneered computer technology by using the LucasArts company. They published several different video games; Skywalker Sound, Industrial Light & Magic, and many more. The latter is actually the foundation of all modern special effects ever since the 1970s.
The Jordan Family
Family Business: The Charlotte Hornets
Industry: Sports, Entertainment
Prominent Member: Michael Jordan
He even managed to try himself in acting when he starred in Space Jam. He signed many huge endorsements for Nike and Hanes, and later on, developed his Air Jordan line of sports shoes. He managed to take himself and his family from rags to riches, owning a $2 billion fortune.
Much of the money was actually made thanks to his investment in the Charlotte Hornets. The team is nowhere near as successful as Jordan was on the court, but that does not mean that it is worthless. It is actually worth millions of dollars in ownership.
The Ballmer Family
Family Business: Los Angeles Clippers
Prominent Member: Steve Ballmer
He felt like he needed a change of pace, and retired from his position at Microsoft and bought the Los Angeles Clippers. The price was rumored to be around $2 billion. If the rumors are true then this would be the second-highest amount ever paid for a pro sports team. The team is known for its roller-coaster success.
The Hearst Family
Family Business: Hearst Corporation
Prominent Member: Patty Hearst
He managed to expand the business and it became a newspaper, radio, and TV empire. According to several different reports, Orson Welles used him as an inspiration for the protagonist of the classic Citizen Kane. His son, William II, later won the Pulitzer award as a journalist.
We are now in the era of William II’s son. He is the current head of the Hearst Corporation. There are not that many families out there who have roots so deep and influence in the media as high as the Hearst family.
The Filo Family
Family Business: Yahoo!
Prominent Member: David Filo
Now, one of Earth's single most lucrative Internet businesses, Yahoo! has turned Filo into one of the most important components of Silicon Valley. In 2017, a joint transfer to Verizon Communications sent the net worth skyrocketing for Filo.
The firm spun off numerous lucrative microsites, portals, and internet hubs, each further cementing the reputation of Yahoo as a major provider. It presently employs almost 9,000 people worldwide. That alone merits a stamp of exclamation.
The Hilton Family
Family Business: Hilton Hotels
Prominent Member: Barron Hilton, Paris Hilton
Despite the billions they were worth, both father and son donated 97% of their fortunes upon their deaths (Conrad in 1979 and Barron in 2019) to the Conrad N. Hilton Foundation, whose mission is to relieve global suffering. Some speculated that Barron's donation was partly in order to keep his fortune out of the hands of his grandchildren, most notably, Paris Hilton, who has made a sometimes less-than-stellar name for herself in pop culture for reasons rather dissimilar to those of her grandfather and great-grandfather.
The Murdoch Family
Family Business: News Corp.
Prominent Member: Rupert Murdoch
He is the mastermind behind News Corporation which he created after his father passed away. He refused to carry on with his father’s business and wanted to pave his own way in the media world.
News Corp. started slowly by taking over Australia's and New Zealand's print and television news. The business then branched out into the UK, Asia, and the United States. The News Corp. owns Harper Collins and the Wall Street Journal in the latter. The ownership of Fox was transferred to The Murdoch Family Trust.
The John Family
Family Business: FUBU
Prominent Member: Daymond John
Daymond took out several loans, spent thousands of hours working on the brand, and even had a few celebrity endorsements to get FUBU to where it is at now. Being the brain behind one of the hottest brands on the market earned Daymond a guest judge spot on season five of Shark Tank.
The Nicholson Family
Family Business: Acting Career
Prominent Member: Jack Nicholson
One of the strange examples is his purchase of Marlon Brandon’s former Hollywood home. He spent a bit over $6 million on it and then burned it down. According to Nicholson, he did it in memory of his late friend.
Nicholson’s five children can expect quite the inheritance with $400 million to go around. He is still getting money from the Batman spin-offs and all the merchandise being sold from the 1989 film.
The Cuban Family
Family Business: 2929 Entertainment, the Dallas Mavericks
Industry: Film Production, Sports
Prominent Member: Mark Cuban
Cuban made a name for himself during his early ventures in software and systems. He then decided that he would try himself in Hollywood and founded a film company called the 2929 Entertainment. Amongst its first projects was the famous George Clooney film Good Night, and Good Luck. It was a very successful indie movie and it even received six Oscar nominations.
With many movies, documentaries, and the purchase of the Dallas Mavericks later, Cuban's wealth is now sitting at almost $4B. If you would like to hear some words of wisdom from the man himself then you can tune in to Shark Tank.
The Dorrance Family
Family Business: Campbell’s Soup
Prominent Member: John Dorrance, Jr.
The company has passed down quite a few generations right now, and it is now in the hands of the 11th generation. The business has expanded over the years, and Campbell's also owns Prego, Pepperidge Farms, and V8.
If we take it all into aspect, it is Dorrance’s grandchildren and great-grandson who are now leading the company. His granddaughter, Charlotte, retired in 2014. He also had another grandchild, Ippy, who actually became a citizen of Ireland after renouncing his American citizenship. He also sold all his ten percent of shares from the company and left.
The Duncan Family
Family Business: Enterprise Products Partner
Industry: Oil and Gas
Prominent Member: Randa Williams
Dan wanted to switch his faith around and went out in search of the oil fields. His luck was on his side and he managed to strike oil. With oil came his very own company Enterprise Products Partners. When the United States was in need of oil, the company managed to deliver without a problem. Both oil and gas are still the main source of the Duncan family's wealth today.
The company makes billions of dollars annually. Dan Duncan passed away in 2010, at the age of 77, leaving behind his $10 billion estates to his children, Randa, Milane, Dannine, and Scott. Ever since his passing, the wealth of the family has doubled. Stock prices have risen since then, and the family also made some smart payouts that favored them.
The Getty Family
Family Business: Getty Oil
Prominent Member: August Getty
If you take a look at their history, you will see that the family-owned Cullavmor, which later became County Londonderry. George Franklin was actually a lawyer at first, but then sought his luck as an oilman. He managed to strike gold, and pass the company along to his son. He told him that he should invest in both gas and oil.
And that is what Jean Paul did. Getty Oil was born in 1916. It is still here today, and it has grown into an empire. It is still passed down with the generations, and they are making more money with each generation. The Getty family is not without its tragedies, however. Its members seem to pass on at a young age. J. Paul Getty III, the oil tycoon's grandson, was once kidnapped by gangsters and passed away at the age of 54. Andrew and John Gilbert Getty, who were brothers, and also grandsons to the oil tycoon, both passed away too early. Andrew passed away in 2015 at the age of 47 with methamphetamine and heart disease apparently being part of the equation. John Gilbert, an heir to the family fortune, passed away on November 20th, 2020 at the age of 52. He was found unresponsive in his hotel room in San Antonio, but foul play was not suspected.
The Stryker Family
Family Business: Stryker Corp.
Prominent Member: John Brown
Homer’s son Lee took over but did not hold the reigns for too long, because he, unfortunately, died in a plane crash. Lee left three children behind, Patricia, Jon, and Ronda. They decided that they would take over the business that their father had.
The Stryker family is currently quite well-known because they had been showing constant support of Democratic and socially liberal causes. They even founded the Arcus Foundation that they use in order to promote LGBTQ rights. They also have the Bohemian Foundation, which is dedicated to arts and culture.
The Simmons Family
Family Business: Contran Corporation
Prominent Member: Dee Simmons
The company had one mission in mind, and that was to start with corporate takeovers. They were even included in a publication where Simmons was referred to as a “feared raider.” The plan was that each time a corporation would go into the red, Harold would buy it. He would then strip it down to its bare bones, turn it all around, and make the money that he earned by doing so. He would then move on to the next company.
In the beginning, he only went after the smaller ones. They were far easier to handle than the huge businesses. Make no mistakes. Even if his business plans were a bit evil, he was actually known to be a philanthropist. For example, he donated $200 million to the University of Texas’ Southwest Medical Center in their time of need.
The Newhouse Family
Family Business: Advance Publications
Prominent Member: Donald Newhouse
The two brothers did just that and they are considered to be the biggest moguls of the current media industry. Advance Publications is now known all over the world, and it is the biggest magazine business ever. The company is also branched out, and they own Conde Nast Publications. For those of you unaware – they are the publication behind Vogue, Vanity Fair, and The New Yorker.
They mostly focus on newspapers, and they supply 25 of America’s biggest cities on a daily basis. For those of you, who are of younger generations, the Newhouse family are also Reddit investors and own a big share of Discovery Communications.
The Mars Family
Family Business: Mars Inc.
Prominent Member: Jacqueline Mars
In current times, Mars Incorporated ventured into other industries too. They now make pet care products, drinks, and created Symbioscience, which is a technology-based health and life sciences business. The company was actually founded by Franklin Clarence Mars back in 1911, which was a bit over a decade before they put out the Milky Way. He was trained in candy making by his mother and used the skills she taught him when it came to hand-dipping the candy.
The company's formal name was The Mars Candy Factory at first. In its beginnings, they sold wholesale candy, but they were not making a lot of money and were even losing it at certain points. That is why Mars decided to try again, from the ground up. The company we know now started its path in Minnesota and soon became an empire.
The Greenberg Family
Family Business: AIG
Prominent Member: Robert Greenberg
Mark Greenberg was born in New York, and he was also a war veteran. He was a captain within the Army in WWII. He is also a medallion recipient (Bronze star).
Greenberg had a remarkable AIG career. He was appointed to a prime leadership position there. In 2005, he retired and appeared on Good Morning America in 2008 to criticize the directors of AIG. Despite his retirement, through his investments, he and his family remained wealthy.
The Trinchero Family
Family Business: The Trinchero Family Estates
Prominent Member: Roger Trinchero
The Trinchero Family Estates was started in 1947 and is relatively new. In 1947, the Sutter Home Winery was purchased by two brothers, John and Mario Trinchero. St. Helena, California, is located at the Sutter Home Winery. After John's retirement, the Sutter Home Winery remained in the family, with Mario's son working as the lead winemaker.
White Zinfandel was developed by Bob Trinchero, Mario's son, and that became a very successful brand. The company expanded to include, among others, Menage a Trois, Napa Valley, Napa Cellars.
The Johnson Family
Family Business: Fidelity
Prominent Member: Abigail Johnson
Ned then passed the company to Abigail, his daughter, though he remains Fidelity's emeritus chairman. Abigail is the official chairwoman who serves as CEO and chairwoman. Fidelity has become a massive international empire ever since Abigail took over. It employs 45,000 people worldwide.
The personal wealth of Abigail Johnson is extraordinary, reaching alone $ 16.5 billion (and almost $ 30 billion for the entire family). She is currently one of the richest women in the world, recently ranked as the fifth "Most Powerful Woman" in the world by Forbes.
The McMahon Family
Family Business: WWE
Prominent Member: Vince McMahon
He also founded Alpha Entertainment, the parent of several other athletic companies like XFL Football. McMahon was an athlete of the WWE himself. After retiring from his stage persona, Mr. McMahon, he was also an announcer. He's coming from a long line of promoters.
In addition to his father, the founder of WWE, his grandfather was also a wrestling promoter. Vince's wife, Linda, is the WWE's former CEO and the SBA's current manager. The two have two kids and six grandkids.
The Ellison Family
Family business: Oracle Corporation
Prominent member: Megan Ellison
Oracle develops state-of-the-art software and hardware products. The patriarch's wealth has been filtering to his offspring. His two kids, David, and Megan Ellison, both used their fortune to fund Hollywood movies.
Some of the recent credits from David include Blockbusters such as Star Trek, Mission: Impossible, and Top Gun's upcoming sequel. On the other hand, Megan has produced more indie fare such as The Master, Her, Vice, and Phantom Thread.
The Walton Family
Family Business: Walmart, Inc.
Prominent Member: Jim Walton
Every year, Walmart generates a whopping $ 482 billion in revenue. Through Walmart, the Walton family has made fantastic gains, personally pocketing over $ 100 billion.
The family has managed to keep the company's share close over the years, owning 50.4 percent of Walmart. For almost two decades now, the family has dominated Forbes ' rich lists, cementing Walmart as the cornerstone of the American economy.
The Frist Family
Family Business: Hospital Corporation of America
Prominent Member: Thomas Frist, Jr.
Within a few years, the father-son business exploded beyond the billion-dollar mark. From there, massive businesses, including IBM, were chaired. In 2006, Frist made the largest buyout in American history.
In 2009, Frist left his business to his son, Billy. But he would have become one of the leading shapers of the modern American healthcare system by then already. Also in the medical field are his many brothers, sisters, and children.
The Knight Family
Family Business: Nike
Prominent Member: Phil Knight
Well, the harsh parenting paid off. Knight found his way into sports quickly, then the United States Army and finished it off with Japanese shoes. These would provide the kernels he needed and would ultimately lead to Nike, his flagship sportswear company.
During a scuba diving trip, Knight's son Matthew passed away from a sudden heart defect in 2004. The death had a profound impact on Knight, eventually leading to his departure as CEO of Nike. But he and his family remain one of America's richest families.
The Kohler Family
Family Business: Kohler Company
Industry: Plumbing Fixtures
Prominent Member: Herbert Kohler, Jr.
Kohler inherited the business as it was passed down generations. By the age of 33, he was running the company's day-to-day business. The financial success of the company has resulted in huge family investments in hospitality, manufacturing, and government.
Kohler Jr. loves to play golf. So much so that in the Open Range film of 2003 he even had a cameo. Didn't hurt being friends with the star of the movie – none other than Kevin Costner, winner of an Oscar.
The Meijer Family
Family Business: Meijer
Prominent Member: Hank Meijer
The 14-year-old son of Hendrik would be one of his first employees. Half a century later, it would become one of the country's largest supermarket chains. It's been worth billions by the 1960s.
Today the company is run by Hank and Doug Meijer, who led the company to massive success in the twentieth century. Since then, they have appointed others to run the daily affairs. But the Meijer clan continues to boom this family business.
The Green Family
Family Business: Hobby Lobby
Prominent Member: David Green
Green and his family own Hobby Lobby, and they have invested in various different religious causes throughout the world. They found themselves in trouble by doing so.
Most infamously, in Iraq and Israel, Hobby Lobby was captured transporting archeological products from archeological digs – and trying to use the artifacts for a museum of the Bible. The firm was sanctioned $ 3 million and the smuggled artifacts were forced to make a return.
The Sobrato Family
Family Business: The Sobrato Organization
Industry: Real Estate
Prominent Member: John A. Sobrato
John started his own real estate business by the time he was old enough. The resulting business, the Sobrato Organization, owns coast-to-coast land, office space, and residential plots.
The three children of Sobrato used this incredible wealth to lead their own investments towards massive success. For example, his son owns part of the NFL team from San Francisco – the 49ers.
The Love Family
Family Business: Love’s Travel Stops & Country Stores
Industry: Retail, Gas Stations
Prominent Member: Tom Love
Husband and spouse duo, Judy and Tom Love, are the creators of the business. It began as a tiny service center that they then fully transformed. They would then grow across the U.S. within a century.
Love's was purchasing up rivals and doing endorsements everywhere. They reached an agreement with the NBA most lately to position Oklahoma City Thunder logos in select shops. They are presently operating in 41 out of 50 countries. Hey, that is not terrible!