1. *Wal-Mart Stores (1)
Industry: Discount retail chain
Revenues: $244.5 billion
Employees: 1.4 million
From single store in Arkansas in 1962, founder Sam Walton (d. 1992)
and younger brother James L. (Bud) built Wal-Mart into world’s largest
retailer, with about 4,700 stores today (bigger than Sears, Kmart and
J.C. Penney combined). Sam’s descendants own about 38%. Sam’s son
Robson, 59, is now chairman.
2. *Ford Motor Co. (2)
Industry: Auto manufacturer
Revenues: $163.4 billion
Pioneering auto firm now in fourth generation. Henry Ford
(1863-1947) introduced mass production and dominated early auto market
with Model T. His grandson Henry II (1917-1987) rebuilt company as CEO,
1960-1980, with younger brother William (retired 1995) as finance
committee chairman. William’s son William Jr., chairman since 1999,
acquired Volvo Cars. Ford family still owns about 40% of voting stock.
3. *Samsung (3)
Lee/Seoul, South Korea
Revenues: $98.7 billion
Thanks to recent turnaround, now the largest chaebol (family
conglomerate) in South Korea. Flagship Samsung Electronics division is
one of world’s largest makers of computer memory chips; also makes home
electronics equipment, mobile phones, microwave ovens, etc. Other
divisions deal in life insurance, securities, trading. Lee family
controls about 22%.
4. LG Group (4)
Koo, Huh/Seoul, South Korea
Revenues: $81 billion
LG Group (formerly Lucky Goldstar) is one of the five chaebol
(family-run industrial groups) in South Korea. With operations in more
than 120 countries, the group organizes its principal activities into
chemicals and energy (LG Chemical, Korea's largest chemical company),
electronics and telecommunications (LG Electronics, one of the largest
consumer electronics firms in Korea), financial services (LG Investment
& Securities), and trading and service (LG International).
Currently being reorganized because of the nation’s financial collapse.
Koo and Huh families own about 59%.
5. *Carrefour Group (5)
Revenues: $72.035 billion
Europe’s largest retailer operates hypermarkets (groceries,
merchandise), supermarkets and discount and convenience stores—9,500
all told—in 30 countries. The name means “crossroads.” Some 60 members
of Defforey family hold controlling stock.
6. *Fiat Group (7)
Revenues: $61.014 billion
Century-old auto company famous for producing Fiat and sports cars
Alfa Romeo, Ferrari, Maserati; expanded into construction equipment,
insurance, aviation, publishing. Founding Agnelli family owns about
30%. Third-generation leader Giovanni (“Gianni”) Agnelli died at age 81
in 2003 and was succeded by his younger brother Umberto.
7. *Ifi Istituto Finanziario Industriale S.p.A. (6)
Industry: Diversified holdings
Revenues: $59.239 billion
Agnelli family’s holding company owns 20% of Fiat, 50% of
Finanziaria di Partecipazioni (Ifil), which in turn owns another 12% of
Fiat. Also sports, retail, publishing, insurance, sugar and other
8. *PSA Peugeot Citroën S.A. (9)
Revenues: $57.054 billion
France’s largest auto seller, also Europe’s No. 2 (behind
Volkswagen), now expanding into China, Iran, Brazil. Other products
include industrial machinery, scooters, light-armored vehicles. Peugeot
family holds 42% of voting stock.
9. Cargill Inc. (8)
Industry: International commodities trader
Revenues: $50.8 billion
World’s largest privately held company buys and sells grain,
poultry, beef, steel, seeds, salt and other commodities on six
continents. Founder William Cargill and brothers provided grain
elevators to store wheat after Civil War. His Cargill and MacMillan
descendants, now in fourth and fifth generations, have run firm ever
since (with occasional non-family CEOs) from 63-room French-style
country mansion. Created one of first management training programs,
1930s. Whitney MacMillan retired 1995 after 18 years as CEO. Family
members own about 85%, key employees the rest.
10. *BMW (Bayerische Motoren Werke AG) (11)
Quandt /Munich, Germany
Revenues: $44.315 billion
One of Europe’s top auto exporters. BMW cars account for 60% of
company’s sales. Other products: motorcycles, software. Reclusive
family of widowed heiress Johanna Quandt of Bad Homburg controls 47% of
stock; family periodically rumored to be selling its stake.
11. *Hyundai Motor (25)
Chung/Seoul, South Korea
Revenues: $40.111 billion
Parent Hyundai (means “the present time”) Group broken into five
groups by Korean government to diminish influence of founding Chung
family. Hyundai Motor considers itself independent. Founder Chung
Ju-Yung died in 2001.
12. Koch Industries (10)
Industry: Oil, gas, agriculture etc.
Revenues: $40 billion
Founder Fred Koch’s vast empire of oil and gas services, cattle
ranches, coal mines, real estate ventures and manufacturing facilities.
In 1983 dissident sons Frederick and William, now 68 and 63, filed suit
contesting $1.1 billion price that Charles, now 67, and David
(William’s twin) paid for their brothers’ share. The dissidents lost
after 13 years; Charles and David control company. William filed a
lawsuit accusing Koch Industries of stealing oil from federal and
American Indian lands and received some $4 million in whistleblower
fees. In 2001, William, Charles and David brokered a settlement, which
did not include Frederick, and agreed not to sue each other again.
13. Robert Bosch GmbH (13)
Industry: Auto parts
Revenues: $36.659 billion
One of world’s biggest makers of auto components. Also makes
industrial machinery, hand tools, appliances. Bosch Foundation owns 92%
of company; Bosch family owns remaining 8%.
14. *SCH (Banco Santander Central Hispano S.A.) (12)
Revenues: $32.524 billion
CEO Emilio Botin inherited small regional bank from his father,
built it into Spain’s largest banking group, with subsidiaries in
Chile, Mexico, other European countries. His daughter Ana Patricia
Botin, 41, named 2001 as chairwoman of its retail unit, Banesto. Botin
family has managed bank since 1857.
15. ALDI Group (15)
Industry: Food retailing
Revenues: $30 billion
ALDI (short for “Albrecht Discounts”) is Europe’s top
private-label, deep-discount food retailer, with 6,100 stores
worldwide, including 3,100 in Germany and some 670 in the U.S.
Co-founders Theo and Karl Albrecht own the company; Theo’s sons Theo
Jr. and Berthold run European division.
16. Auchan Group (19)
Mulliez/Villeneuve d'Ascq, France
Revenues: $28.888 billion
One of largest worldwide retailers, Auchan Group operates more than
300 Auchan hypermarkets (groceries, clothing, consumer electronics,
etc.), also operates Atac supermarkets, Leroy Merlin home improvement
chain, about 640 mini-marts; operations in Europe, Southeast Asia,
U.S., Latin America. Some 350 members of highly secretive founding
Mulliez family own 84% of Auchan; employees own the rest.
17. *Pinault-Printemps Redoute (16)
Industry: Retailing, etc.
Revenues: $28.692 billion
Company’s multifaceted operations include retail stores and
catalogs (Printemps, Fnac, Conforama, Redoute) that offer apparel,
leisure products and home furnishings. Also owns 67% stake in Italian
luxury goods company Gucci Group and several perfume lines (including
Yves Saint Laurent). François Pinault’s family investment firm,
Artemis, owns 57%.
18. *Ito-Yokado (21)
Industry: Convenience stores
Revenues: $28.436 billion
Masatoshi Ito, now honorary chairman, introduced convenience stores
to Japan in 1974. Company owns 73% of 7-Eleven chain, operates more
than 9,700 7-Eleven stores in Japan and 5,800 in North America. Ito and
family own 15% of Ito-Yokado.
19. Tengelmann Group (20)
Haub/Mulheim an der Ruhr, Germany
Revenues: $28.227 billion
CEO Erivan K. Haub and his family inherited 100% control of
Germany’s fourth-largest retailer, whose 7,000 supermarkets, drug
stores and superstores brought U.S.-style retailing to Germany. Company
currently selling or closing hundreds of its poorly performing
supermarkets. Also owns 54% of A&P supermarket chain in U.S.
20. *J Sainsbury (17)
Sainsbury/London, United Kingdom
Industry: Retail groceries
Revenues: $27.433 billion
U.K.’s third-largest food retailer operates struggling Sainsbury’s
Supermarkets chain, with more than 500 stores in U.K. (which account
for about 83% of sales). Sainsbury also runs about 185 Shaw’s
Supermarkets and Star Markets in New England, plus Sainsbury’s Bank.
David Sainsbury, 63, and family inherited 38% of stock on death of
David’s father, Sir Robert Sainsbury, in 1999. David left management
21. *Motorola (14)
Revenues: $26.679 billion
Founder Paul Galvin (1895-1959) produced first practical radio for
automobiles and ran company as one-man show until his death. Son Bob,
CEO 1959-90, moved company from TV sets into high-tech commercial and
industrial electronics. His son Christopher, 51, took charge 1997,
retired 2003 amid difference in opinion with board over strategy.
22. *Viacom (18)
Industry: Media and entertainment
Revenues: $24.606 billion
One of world’s largest media companies: movies, TV (39 stations),
radio (185 stations), Internet. Owns BET (Black Entertainment
Television), CBS, Paramount Pictures, United Paramount Network (UPN),
MTV Networks (MTV, VH1, Nickelodeon), Showtime Networks and Comedy
Central (50%), also 39 TV stations, publisher Simon & Schuster, and
81% of Blockbuster (the #1 video rental chain). Michael Redstone
started with drive-in movie theater 1954. His son, current chairman and
CEO Sumner Redstone, 80, controls 68% of firm; daughter Shari, 49,
heads National Amusements theater chain that was nucleus of original
23. *Novartis Group (23)
Industry: Health and personal care
Revenues: $23.453 billion
One of world’s top five pharmaceutical firms (Merck is #1). Pierre
Landolt and family, heirs to Sandoz pharmaceutical fortune, own about
24. *Tyson Foods (50)
Industry: Food processor
Revenues: $23.367 billion
Founder John W. Tyson sold chickens and feed to Arkansas farmers,
got into processing and distribution after discovering he could fetch
higher prices up North. Today, company is nation’s leading chicken
supplier, with 28% of poultry market; also world’s largest meat
processing firm since purchase of IBP Fresh Meats. Son Donald, now 73,
dropped out of college in senior year to enter business (1952) and was
joined at helm by half-brother Randal (d. 1986) after his father died
in train accident (1967). Donald retired as chairman 1995 and remains
senior chairman. His son John H., 49, is now chairman and controls 80%
of company’s voting power.
25. *Bouygues (24)
Bouygues/St. Quentin-en-Yvelines, France
Revenues: $23.317 billion
One of Europe’s largest construction groups also runs more than 40
subsidiaries and affiliates in 80 countries. Chairman Martin Bouygues
(pronounced “bweeg”) and brother Olivier indirectly control about 22%
26. *Roche Group (NR)
Revenues: $21.422 billion
Company operates three segments: pharmaceuticals
(Hoffmann-LaRoche), diagnostics and consumer health. Descendents of
founding Hoffmann and Oeri families vote slightly more than 50%,
although they own less than 10% of capital.
27. Bertelsmann (63)
Industry: Publishing, media
Revenues: $19.193 billion
One of world’s largest media conglomerates, with interests in 600
companies in 60 countries. Properties include Random House
(publishing), BMG Entertainment (music), Gruner + Jahr (magazines), and
European broadcaster RTL Group. Carl Bertelsmann founded small
religious book publisher 1835; his descendant Reinhard Mohn, now 82,
built global empire after World War II. Mohn family owns 20% of
company, but until 2000 Reinhard held the sole “golden” voting share.
He transferred voting control to a company controlled jointly by
Bertelsmann executives and Mohn family members.
28. *Weyerhaeuser Co. (30)
Industry: Timber products
Revenues: $18.521 billion
One of largest U.S. forest products companies even before
acquisition of Williamette Industries. Timber baron Frederick
Weyerhaeuser and brother formed Weyerhaeuser Co. 1900; giant paper firm
still family-run in fourth generation.
29. *Loew’s (22)
Industry: Tobacco, hotels, etc.
Revenues: $17.495 billion
Entrepreneurial brothers Laurence and Preston (Bob) Tisch, now 80
and 77, started in real estate, gained control of Loew’s Theatres 1959;
diversified into cigarettes, insurance, oil, hotels, media (CBS).
Tisches own more than 30% of stock. Next generation very active:
Larry’s son James, 50, took over as Loew’s CEO 1999; his brother
Andrew, 53, and Bob’s son Jonathan, 49, are co-presidents.
30. *News Corp. (27)
Revenues: $17.474 billion
Respected journalist Sir Keith Murdoch built Australia’s largest
newspaper company, passed it to son Rupert at death, 1952. He built
less-respected but huge global media/entertainment empire (world’s
fourth largest, behind Time Warner, Viacom and Disney). Holdings today
include TV (Fox Broadcasting), movies (20th Century Fox), scores of
newspapers (London Times, New York Post, etc.), books (HarperCollins), magazines (Weekly Standard)
and sports team (Los Angeles Dodgers). Murdoch family owns about 30% of
stock, 40% of voting stock. Rupert, 72, still in charge; son Lachlan,
32, deputy COO, named publisher of New York Post and presumed
successor. Son James, 30, is chief executive of BSkyB, Britain’s
leading pay-TV company, which is 35% owned by News Corp.
31. *Karstadt Quelle (33)
Schickedanz, Riedel, Herl/Essen,Germany
Revenues: $16.575 billion
Schickedanz family merged its mail order company, Quelle, with the
retail chain Karstadt, making it one of largest companies in Europe.
Best known for about 190 Karstadt and Hertie department stores but also
runs about 295 specialty stores. Schickedanz-Holding, owned by Riedel
and Herl family branches, once owned all of Quelle and now has a 36%
stake in Karstadt Quelle.
32. *Michelin (31)
Industry: Tires, travel
Revenues: $16.398 billion
World’s #2 tire maker (behind Goodyear) also makes 36,000 other
products, including well-known road maps and travel guides. Has 80
factories in 18 countries. Controlled and run by François Michelin, his
son, Edouard, and their partner René Zingraff.
33. Publix Super Markets (29)
Revenues: $16.027 billion
Founder George Washington Jenkins (d. 1996) hitchhiked from Georgia
to Florida to seek fortune in real estate, got job instead at Piggly
Wiggly, worked his way up to manager. After snub from owner, opened
competing store next door. Chain now operates more than 740 stores in
four states. Son Howard, 50, is chairman; Charlie Jenkins Jr., 59, is
CEO. Stock offered to employees since 1930; they now own about 27%.
34. *Bombardier (35)
Industry: Aerospace, defense
Revenues: $15.482 billion
Powerhouse of aerospace and rail transportation makes business
aircraft (Challenger, Learjet), rail cars (for Long Island Rail Road,
others), much more. Bombardier family owns more than 50%; took
recreational-products business private in August 2003.
35. Mars (26)
Industry: Candy, rice, pet food
Revenues: $15 billion
Candy-making Minnesotans Frank and Ethel Mars invented the Milky
Way. Their secretive, driven son Forrest, supposed model for Willy
Wonka, feuded with his father, started his own candy company in
England, then merged with late father’s business 1964. Now #2 U.S.
candy maker (behind Hershey). Since 1973, run by Forrest’s three
children, CEO John, 71, Forrest Jr., and Jacqueline, 63. Forrest died
1999 at age 95.
36. *L’Oréal (40)
Revenues: $14.975 billion
World’s largest beauty products company; brands include L’Oréal,
Maybelline, Lancôme, Soft Sheen. Indirectly controlled by founder’s
daughter Liliane Bettencourt and her family; Nestlé also owns a large,
37. *Lagardère (41)
Industry: Defense systems, magazines
Revenues: $14.474 billion
Company publishes more than 200 magazines and newspapers in 33 countries, including Elle and Car and Driver.
Also owns about 15% of European Aeronautic Defence and Space Co.,
world’s #3 aerospace and defense firm. CEO Arnaud Lagardère, 42, and
family control the company.
38. *Gap (34)
Industry: Apparel stores
Revenues: $14.455 billion
Donald and Doris Fisher, now 75 and 71, opened their first jeans
store in 1969, just in time for jeans craze of 1970s. With addition of
Banana Republic (1983) and Old Navy (1994), chain now has more than
4,250 stores. Fishers still own about 20%; Donald remains chairman.
Sons Robert and William left in 1998 and 1999, but Bob remains on board
39. *LVMH Moët Hennessy Louis Vuitton (47)
Industry: Luxury goods
Revenues: $14.304 billion
Through multiple acquisitions, company’s luxury brands include Dom
Perignon, Hennessy, Christian Dior, Givenchy, Louis Vuitton, also
watches, jewelry, retail shops. Chairman Bernard Arnault and his family
own 48% through family holding company, Europatweb.
40. *Groupe Danone (37)
Industry: Food products
Revenues: $14.237 billion
One of world’s largest food producers; #1 in dairy products (Dannon
yogurt, cheese, dairy desserts) and biscuits (cookies, crackers, and
snacks). Chairman Franck Riboud took over from his father, Antoine,
41. *General Dynamics (39)
Crown/Falls Church, Va.
Industry: Aerospace and defense
Revenues: $13.829 billion
Peppery Chicago dealmaker Henry Crown (1896-1990) built family’s
Material Services Corp. into world’s largest building supply firm, sold
it to General Dynamics 1960 and became GD’s largest shareholder. After
feuding with GD’s board, Crown sold his stock, then bought back
controlling interest and installed himself and his quietly competent
son Lester as directors. Lester, now 78, and his son James, 49, remain
on GD’s board by virtue of their 16.5 million shares.
42. *Anheuser-Busch Cos. (36)
Revenues: $13.566 billion
Eberhard Anheuser took over struggling St. Louis brewery 1860.
Bavarian immigrant Adolphus Busch married Eberhard’s daughter Lilly
1861, joined brewery 1864 and made it successful. His grandson August
Jr. (d. 1989), president from 1946, began Budweiser’s “King of Beers”
ad campaign, making it nation’s biggest brewer (currently nearly 50% of
U.S. beer market). August III, now 65, unseated his father 1975.
Presumed heir August IV, 38, now VP/marketing. Family still controls 6%
43. *Cathay Life Insurance (45)
Revenues: $13.022 billion
Former fruit vendor Tsai Wan-Lin, now 76, built Taiwan’s largest
insurance/construction conglomerate, now expanding into China,
Singapore, Japan. Whole family is active in the business. Tsai Hong-Tu
is current chairman.
44. *Magna International (46)
Industry: Auto parts
Revenues: $12.971 billion
Huge and diverse auto parts maker, also real estate and horse- and
sports-betting businesses. Founded and controlled by Frank Stronach,
now run by his daughter Belinda Stronach.
45. Otto Group (28)
Industry: Catalogs, retailing
Revenues: $12.461 billion
Otto Versand, world’s largest mail-order concern (and first to go
online, featuring same-day food delivery via Internet), is 65% owned by
chairman and CEO Michael Otto, 62, and his family. Family separately
also owns U.S. catalog marketer Spiegel, U.S. home furnishings retailer
Crate & Barrel.
46. *Comcast (57)
Revenues: $12.46 billiob
Belt manufacturer Ralph Roberts launched cable TV service in
Tupelo, Miss. Today Comcast is nation’s largest cable company, with
21.3 million subscribers following merger with AT&T Broadband.
Roberts family owns only 2% of stock but controls 33% of voting stock.
Ralph, 82, turned presidency to son Brian 1990, most of family’s stock
to Brian 1998. Brian, 43 and CEO, proved worthy: He convinced Bill
Gates to invest $1 billion in Comcast (1997).
47. *Sodexho Alliance (48)
Industry: Food services
Revenues: $12.378 billion
World’s second-largest contract food service provider (after
Compass Group), serving corporations, colleges, hospitals and public
institutions in 70 countries. Chairman and CEO Pierre Bellon and family
own about 40% of tcompany.
48. *Winn-Dixie Stores (38)
Revenues: $12.168 billion
Founder William Milton Davis purchased grocery in Lemon City, Fla.,
for $10,000 1925. His four sons took over nine years later, renamed
company 1955 (“To win Dixie was our ambition”) and built it into
Sunbelt’s largest grocery chain: 1,070 Winn-Dixie, Thriftway and
Marketplace stores in 12 states and the Bahamas. Founder’s descendants
own about 41%; three of them sit on Winn-Dixie’s board, headed by
chairman A. Dano Davis.
49. Power Corporation of Canada (43)
Industry: Mutual funds, utilities
Revenues: $12.061 billion
Holding company founded in 1920s to develop hydroelectric power;
controls one of Canada’s leading mutual fund firms (Investors Group),
one of its largest life insurers (Great-West Lifeco); and other
financial services firms. Former chairman Paul Desmarais owns about 65%
of company; sons Paul and André are co-CEOs.
50. Ikea (52)
Revenues: $11.779 billion
Founder Ingvar Kamprad, 77, launched company 1943, opened first
store in Sweden 1958; now one of world’s top furniture retailers with
175 Scandinavian-style home furnishings stores in 30 countries. Name is
acronym for founder and his boyhood home, Elmtaryd, Agunnaryd. Company
owned by Kamprad’s Netherlands-based charitable foundation, Stichting
Ingka. Three sons in 30s by second wife (Peter, Jonas, Matthias) have
worked at company but seem unlikely successors. Kamprad family also
owns Ikea’s prime competitor, Habitat, with $800 million sales.
51. Gerling-Konzern Versicherungs-Beteiligungs AG (60)
Revenues: $11.73 billion
Holding company (founded 1904) for group of insurance and
reinsurance carriers that provide credit, health, life and
property/casualty insurance in some 30 countries on six continents
(although nearly half its business is in Germany). Rolf Gerling,
grandson of founder Robert, is majority shareholder.
52. Bechtel Group (32)
Industry: Engineering and construction
Revenues: $11.6 billion
World’s largest construction company started by rancher Warren A.
(“Dad”) Bechtel, who built railroads in Oklahoma and moved to
California 1914. His son Stephen Sr. built Liberty ships for
government, World War II; Stephen Jr., now 78, took over 1965,
established reputation for megaprojects: airports; nuclear plants;
trans-Alaska pipeline; Washington, D.C., subway; the Chunnel; “new
city” of Jubail, Saudi Arabia, etc. His son Riley Bechtel, 51, has been
president since 1989.
53. *Comp. Brasileira de Distribuic (109)
Diniz/São Paulo, Brazil
Revenues: $11.2 billion
Brazil’s second-largest retailer: operates the Pao de Acucar and
Barateiro supermarket chains. Founding Diniz family owns majority of
voting shares; three family members in top management.
54. Meijer (51)
Meijer/Grand Rapids, Mich.
Industry: Retailing and groceries
Revenues: $10.9 billion
Dutch immigrant Hendrik Meijer opened barber shop 1914, added
groceries to help pay rent. Son Frederik, now 83, pioneered “one-stop
shopping” concept in 1960s, expanded chain to 160 mega-stores in
Midwest today. Still family-owned. Founder’s grandson Hendrik (“Hank”)
Meijer, 50, is CEO; Doug Meijer, 48, is co-chairman.
55. Suntory Ltd. (49)
Saji, Torii/Osaka, Japan
Revenues: $10.87 billion
Keizo Saji (d. 1999) built father’s small brewery into Japan’s top
whiskey distiller, also food conglomerate. In 1990 he handed reins to
nephew Shinichiro Torii. Family owns 90% of company.
56. *Heineken (NR)
Revenues: $10.788 billion
Global brewing giant sells beer in more than 170 nations. Heineken
is second-leading imported brand in U.S. (behind Grupo Modelo’s
Corona). Its other global brands include Amstel and Murphy’s. Charlene
de Carvalho inherited largest shareholding on death of her father,
Freddie Heineken, in 2002.
57. *Henkel Group (44)
Revenues: $10.121 billion
Chemical giant operates 340 companies in 70 countries, makes
detergents, adhesives, soap, much more; owns 27% of Clorox in U.S.
Albrecht Woeste, great-grandson of founder, Fritz Henkel, current
family patriarch. Fifth-generation Christoph Henkel, 43, serves on
influential Shareholders’ Committee. About 80 descendants of founder,
sprinkled among three clans, share majority interest.
58. *Investor AB (54)
Industry: Industrial holdings
Revenues: $9.986 billion
Former sailor André Wallenberg founded Enskilda Banken (still a
leading Swedish bank) in mid-19th century; company expanded into
Investor AB, investment vehicle for Sweden’s pre-eminent business
family. Holdings include Ericsson (mobile phones), Electrolux
(appliances), AstraZeneca (pharmaceuticals), power generation,
industrial building systems, much more. Wallenberg family interests own
more than 40% and actively manage.
59. H.E. Butt Grocery (61)
Butt/San Antonio, Texas
Industry: Food stores, bakeries
Revenues: $9.9 billion
Florence Butt opened first store in Kerrville, Texas, with $60. Son
Howard took over 1919, opened second store 1927. Howard’s son Charles
took over 1971 at age 33, expanded $200 million chain into nation’s
12th largest food retailer (first in South) with 300 supermarkets.
Company still family-owned, but CEO Charles, now 65, is a bachelor.
Company donates 5% of pre-tax earnings to education, art and food
60. Cox Enterprises (62)
Industry: Newspapers, TV
Revenues: $9.9 billion
Reporter James M. Cox bought Dayton (Ohio) Daily News 1898, Atlanta Constitution
1950; died 1957. Company now owns 17 daily newspapers, cable systems
and radio and TV stations. Founder’s daughters Anne Chambers, 83 (U.S.
ambassador to Belgium under President Carter), and Barbara Anthony, 80,
control 98% of stock. Barbara’s husband, Garner Anthony, stepped down
as CEO 1987, succeeded by James Cox Kennedy, now 56, Barbara’s son by
61. SHV Holdings N.V. (56)
Fentener van Vlissingen/Utrecht, Netherlands
Industry: Energy holdings
Revenues: $9.833 billion
Largest private company in the Netherlands, with global interests
in energy, retail and raw-material distribution businesses. Also owns
U.S. scrap metal company David J. Joseph and 60% of metal recycling
firm Thyssen Sonnenberg Recycling; operates its Makro store chain in
Asia and South America; has also acquired NPM Capital, one of the
Netherlands’ biggest venture capital firms. Firm is controlled by
Fentener van Vlissingen family and run by Paul Fentener van Vlissingen.
(See also BCD Holdings, #128 below.)
62. *Hutchison Whampoa (71)
Li/Hong Kong, China
Industry: Telecom, retail, energy
Revenues: $9.645 billion
Founder Li Ka-shing, 75, started as maker of plastic flowers in
1940s, cobbled together empire that ranges from telecommunications and
ports to supermarkets. Widely considered Hong Kong’s most powerful
person. Hutchison Whampoa, his most prominent company, dominates Hong
Kong’s port and owns large stakes in ports of Shanghai, Shenzhen and
Xiamen; Li family owns 49.9%. Son Richard, 35, followed him into the
business in 1999.
63. *Reliance Industries (42)
Revenues: $9.634 billion
India’s largest petrochemical manufacturer; also makes textiles.
Family of late self-made founder Dhirubhai Ambani owns 26%; sons Mukesh
and Anil now run the business. Socially conscious family spent $10
million to provide drinking water to drought-prone areas.
64. *Illinois Tool Works (58)
Industry: Industrial equipment
Revenues: $9.468 billion
After founding Chicago’s legendary Northern Trust Co. in 1889,
patriarch Byron L. Smith (1853-1914) financed two Swedish toolmakers to
form ITW, later took control and handed operation to younger sons
Walter and Harold C. (Eldest son remained at bank.) Harold C.’s son
Harold Byron Smith (d. 1990) took charge after World War II,
diversified from fasteners, screws and washers into packaging systems,
engineering components and medical and computer supplies through 600
separate companies. His son Harold Jr., 69, has headed ITW executive
committee since 1982.
65. *Masco (65)
Industry: Building materials
Revenues: $9.419 billion
Founder Alex Manoogian (d. 1996) perfected single-handle Delta
faucet. His Yale-educated son Richard, now 67, took over 1968 and
acquired more than 100 building and home improvement companies (Home
Depot, Delta faucets, KraftMaid cabinets, etc.) in past 30 years.
66. El Corte Inglés (59)
Revenues: $9.133 billion
Department store giant run by Isidoro Alvarez is Spain’s largest
family company. It also owns about 17% of Gottschalks, the
California-based U.S. department store chain. Also offers financial
services, insurance, online shopping, retail consulting and
telecommunications services, movie theaters and auto dealerships.
67. Huntsman Corp. (64)
Huntsman/Salt Lake City
Revenues: $9 billion
Former Huntsman Container Corporation best known for container that
housed McDonald’s Big Mac. Acquisitions by CEO and founder Jon M.
Huntsman, now 66, have made it North America’s largest privately held
chemical company, with facilities in more than 40 countries. Six sons
and three sons-in-law all work in the business.
68. Fidelity Investments (FMR Corp.) (55)
Industry: Mutual funds
Revenues: $8.9 billion
Department store heir turned mutual fund pioneer Edward C. Johnson
II bought Fidelity Fund in 1946, fired its investment adviser and
managed fund himself, stressing instincts and knowledge over prudence.
Assets under management multiplied 1,000 times (from $3 million to $3
billion) by time son Edward C. (Ned) III succeeded him, 1972. Now
leading mutual fund company worldwide, with 340 funds, 18 million
customers, $775 billion assets managed. Ned, 73, reduced ownership
share in parent FMR Corp. to 12% 1995, making daughter Abigail, 41,
company’s largest shareholder (with 25%) and likely heir. Johnson
relatives and top Fidelity execs own the rest. Abigail, senior VP, runs
a Fidelity equity funds group.
69. *Marriott International (53)
Industry: Hotels, casinos
Revenues: $8.441 billion
From D.C. root beer stand opened 1927, J. Willard Marriott
(1900-1985) and his wife, Alice, expanded into hotels and restaurants.
Now world’s largest lodging company with some 2,600 owned or franchised
properties in 65 countries. Son John, now 70, named president 1964,
added retirement homes, financing. He now runs Marriott International
while brother Richard, 64, heads family’s Host Marriott luxury hotels
division (see #134 below). Alice died 2000, age 92. Marriott family
owns about 12% of stock.
70. *Clear Channel Communications (69)
Mays/San Antonio, Texas
Revenues: $8.421 billion
Founder Lowry Mays, 67, started buying distressed radio stations in
mid-sized markets with fellow Texan Red McCombs. Company is now #1 U.S.
radio station owner (some 1,225), world’s largest outdoor advertising
company (more than 775,000 displays); also owns or manages 39 TV
stations. Lowry is still CEO; three children are active, including
president Mark, 39, and EVP/CFO Randall, 37.
71. Tata Group (70)
Industry: Textile, steel, autos
Revenues: $7.959 billion
Founded as textile trader in 19th century, Tata Enterprises has
grown into India’s largest industrial conglomerate, with more than 80
companies in steel, automobiles, agribusiness, chemicals and
pharmaceuticals, consumer products, energy, engineering, exports,
finance, information technology and telecommunications, metals, and
service industries. Ratan N. Tata is current CEO.
72. *Parmalat Finanziaria S.p.A. (75)
Industry: Dairy products
Revenues: $7.955 billion
One of world’s largest dairy companies, operating in 30 countries.
Also produces vegetables, baked goods, fruit juices. Now #3 cookie
maker in U.S. (behind Kraft Foods’ Nabisco and Kellogg’s Keebler) with
its Archway, Mother’s and Salerno brands. Founder Calisto Tanzi and
family own 98%.
73. Boehringer Ingelheim (82)
Revenues: $7.945 billion
Founded as chemical maker in 1885, Boehringer still makes bulk
pharmaceutical ingredients and other chemicals for food and drug
industries. Best seller: Flomax. Boehringer family controls company
through its parent, C.H. Boehringer Sohn.
74. *Dillard’s (66)
Dillard/Little Rock, Ark.
Industry: Department stores
Revenues: $7.911 billion
Founder William T. Dillard’s department store chain (third largest
in U.S., behind May and Federated) operates some 330 upscale,
medium-sized stores in 29 states. Founder died 2002, age 87. All five
children are active: William II (president and CEO), 58; Alex
(president), 53; three others as VPs. Some 30 Dillard family members
own 10% of stock but control 99% of Class B stock, which elects
two-thirds of company’s directors.
75. *SAP (77)
Revenues: $7.786 billion
One of world’s largest independent software companies. Co-founder
Dietmar Hopp and family, plus two other co-founders, control about 35%
76. *Thomson Corp. (74)
Revenues: $7.756 billion
Former giant newspaper chain now specializing in niche information services. Thomson family owns 73%.
77. JM Family Enterprises (72)
Moran/Deerfield Beach, Fla.
Industry: Auto dealerships
Revenues: $7.6 billion
Starting with gas station, Chicagoan James Moran moved up to
used-car dealership, Hudson franchise, then Ford franchise. Moved to
Florida for his health in 1960s; acquired regional Toyota
distributorship and built family company into world’s largest
independent auto dealer. Founder now 84 and honorary chairman; daughter
Pat is chairman.
78. *Grupo Financiero BBVA-Bancomer (73)
Garza/Mexico City, Mexico
Revenues: $7.577 billion
Chairman Eugenio Garza Laguera, 78, and family own 25% of stock of
Mexico’s second-largest bank. Their 70-year-old Bancomer merged in 2000
with BBVA-Probursa and regional player Banca Promex, now operates 1,600
Mexican branches, may expand into U.S. Garza also heads big brewer
FEMSA (see #97 below).
79. Tetra Laval (68)
Revenues: $7.441 billion
Hans Rausing invented milk carton, built Swedish firm Tetra Pak
into world’s largest packaging manufacturer. Brother Gad Rausing and
family bought out Hans 1996. Gad died 2000, age 77; his three children
sit on board of directors.
80. *Interbrew (NR)
Revenues: $7.328 billion
Among world’s largest brewers (closely ranked with Heineken, which
trails Anheuser-Busch and SABMiller), with some 200 brands of lagers,
premium beers and specialty brews (Stella Artois and Bass Ale, Rolling
Rock, etc.), sold in 120 countries. A voting trust of Interbrew’s
founding families owns more than 60% of company.
81. *Associated British Foods (78)
Weston/London, United Kingdom
Industry: Food, household products
Revenues: $7.095 billion
Weston family controls about 55% of Associated British Foods, maker
of Twinings Tea, Wagon Wheels snack cakes, British Sugar products;
introduced sliced bread in 1930s. Also operates the Penneys and Primark
clothing store chains in Ireland and the U.K. At least 40% of family’s
stake in company is pledged to a charitable trust.
82. *Cemex (76)
Zambrano/Nuevo Leon, Mexico
Industry: Building, materials
Revenues: $6.538 billion
World’s second-largest cement company, with operations in 30
countries. Gutsy, technology-savvy CEO Lorenzo Zambrano, 59, and
extended family own about 35%. Marcelo Zambrano Hellion is honorary
83. Enterprise Rent-A-Car (81)
Industry: Car rentals and leasing
Revenues: $6.5 billion
On a hunch that drivers would rather lease than buy, Jack Taylor
launched firm in basement of Cadillac dealership. It now has 525,000
cars in 4,000 locations. Firm was named after aircraft carrier U.S.S. Enterprise, where Jack flew fighters as Navy pilot, World War II. Son Andy, 55, now runs company; Jack is 81 and semi-retired.
84. *Dollar General Corp. (89)
Industry: Retail stores
Revenues: $6.1 billion
Retailer commands a chain of more than 6,300 discount stores in 27
states, mostly in Southeast and Midwest. CEO Cal Turner Jr., grandson
of company’s founder, owns about 15% of Dollar General.
85. *Mercadona (103)
Revenues: $6.064 billion
Spain’s leading supermarket chain, with 700 low-price stores. Juan Roig is current CEO.
86. Heraeus Holding GmbH (NR)
Industry: Precious metals
Revenues: $6.057 billion
Chemist Wilhelm Carl Heraeus inherited father’s pharmacy 1850,
discovered new elements caesium (1860) and ribidium (1861), became
supplier of platinum to goldsmiths. Company now major trader and
recycler of precious metals; also 100 other subsidiaries. Still owned
and run by 150 descendants of founder. Great-grandson Jergen Heraeus is
87. Aditya Birla Group (NR)
Revenues: $6 billion
India’s second-largest conglomerate, started in mid-19th century in
northern Indian town of Pilani with a single cotton trader named Seth
Shivnarain Birla. His descendants expanded into textiles and fibers,
aluminum, cement and chemicals. Group’s operations today span 40
companies in 17 countries and generate $6 billion in annual revenues.
88. *Nordstrom (84)
Industry: Clothing stores
Revenues: $5.975 billion
Swedish immigrant John W. Nordstrom opened Seattle shoe store 1901,
retired 1928. His three sons built it into largest independent U.S.
shoe chain by 1963. Grandsons Bruce, John and Jim Nordstrom and
cousin-in-law Jack McMillan diversified into upscale specialty
retailing; now 140 stores in 25 states, known for impeccable service.
Family owns about 30% of stock. Founder’s grandsons all retired 1995;
six fourth-generation Nordstroms (Bill, Blake, Dan, Erik, Jim and
Peter) were appointed to co-presidency, under a non-family CEO. Bruce
Nordstrom, 69, came back from retirement 2000 as chairman; his son
Blake, 42, is president.
89. *Haci Ömer Sabanci Holding (83)
Revenues: $5.857 billion
Company owns 40% of Akbank, one of Turkey’s largest banks; has
operations in textiles, synthetic fibers, cement, cars, tires, food,
energy, insurance, Internet access and tobacco. Chairman Sakip Sabanci,
70, and family own about 85%. More than a dozen relatives active,
including (rarity for Turkey) women executives: Guler Sabanci, 49,
helped build firm; Suzan Sabanci, 38, Boston University MBA being
groomed to succeed her father, Erol, at Akbank.
90. Sonepar (80)
Industry: Electrical equipment
Revenues: $5.846 billion
World’s leading distributor of electrical equipment, with 1,100 branches in 29 countries across four continents.
91. Marmon Group (79)
Industry: Mining equipment, railroad cars
Revenues: $5.756 billion
Chicago lawyer A.N. Pritzker (1896-1986) used legal knowledge to
assemble real estate and manufacturing empire that his sons Jay and
Robert multiplied many times over through shrewd acquisitions and
astute management (Hyatt Hotels, Marmon Group, American Medical
International, etc.). Altogether about 550 facilities in more than 40
countries, still family-owned. Dealmaker Jay died in 1999; engineer Bob
ran Marmon Group until retiring this year. See also H Group Holding,
92. *Grupo Carso (85)
Slim/Mexico City, Mexico
Revenues: $5.595 billion
Sprawling conglomerate includes Sanborns department store chain, an
85% stake in Sears Roebuck de Mexico and troubled U.S. computer
retailer CompUSA. Patriarch Carlos Slim Helu, 63, Latin America’s
wealthiest man, and family own majority stake. Turned reins to son
Patrick Slim Domit after 1997 heart attack; another son, Marco Antonio,
35, heads family’s financial arm. Carlos Slim is also chairman of
Teléfonos de Mexico S.A., Mexico’s former phone monopoly.
93. *ERG S.p.A. (87)
Industry: Oil, energy
Revenues: $5.506 billion
Independent oil company (formerly Raffinero Edoardo Garrone) with
more than 2,100 retail outlets. Also distributes oil products directly
to agricultural, industrial and utility customers. Now moving into
electric power. Garrone family owns 60%, through Polcevera SA
94. De Beers Consolidated Mines (NR)
Oppenheimer/Kimberley, South Africa
Revenues: $5.3 billion
World’s largest diamond miner and marketer produces more than 38
million carats yearly. DBCM and sister company De Beers Centenary were
taken private in 2001 under De Beers SA, a holding company owned by
South Africa’s Anglo American and Oppenheimer family (45% each). Nicky
Oppenheimer, grandson of Anglo American’s founder, Ernest Oppenheimer,
is executive chairman; fourth generation also on board.
95. *Estée Lauder Cos. (96)
Revenues: $5.118 billion
Founded by Joseph Lauder (d. 1983) and legendary wife Estée, now
95. Company today controls 45% of prestige cosmetics industry with
Clinique, M.A.C., Aveda, etc. Son Leonard, 70, CEO, holds controlling
stock (58%, good for 90% of voting stock) with brother Ronald, 59.
Leonard’s son William, 42, is COO.
96. Dogus Group (91)
Industry: Banking, construction
Revenues: $5.1 billion
Founder Ayhan Sahenk, now 74, launched Dogus (means “birth”) 1951,
built into leading builder of Turkish roads, ports, hospitals.
Diversified into banking 1970s; now 70% of business, with dominant role
in Turkey’s banking system. Also in autos, retail, tourism, media and
technology. With 12 acquisitions inn past three years, group now
comprises more than 100 companies. Founder’s son Ferit Sahenk, 39, now
chief executive, leading charge into Internet technology.
97. *Fomento Económico Mexicano (FEMSA) (88)
Revenues: $5.096 billion
Century-old FEMSA, as it’s known, is Mexico’s leading brewer and
Coke bottler. Garza family owns 47% (also owns big stake in Grupo
Financiero BBVA-Bancomer, #78 above).
98. *Pernod Ricard (NR)
Revenues: $5.068 billion
World’s third-largest spirits firm (Wild Turkey whiskey, Pernod, Ricard, Chivas Regal, etc.). Patrick Ricard is CEO.
99. *H&M Hennes & Mauritz AB (124)
Industry: Clothing retailer
Revenues: $5.026 billion
Designer and retailer of chic clothing sold in 845 H&M stores
in 14 countries. First women’s store opened 1947 in Sweden as Hennes
(Swedish for “hers”); company later bought the hunting and men’s
clothing store Mauritz Widforss. Chairman Stefan Persson (son of
founder Erling Persson) and family control company.
100. S.C. Johnson & Son (102)
Industry: Home and personal care products
Revenues: $5 billion
Founded by Samuel Johnson, carpenter who went from floors to
polishes. Great-grandson Samuel C. Johnson, 75, longtime CEO, sustained
kids’ involvement by creating separate fiefdom for each. Consumer
products (Windex, Pledge, Glade, Edge, Saran Wrap, Off!) went to H.
Fisk, 45, now chairman; commercial business (floor care, polymers) to
S. Curtis, 48 (see Johnson Diversey, #187 below); recreation (Johnson
Worldwide) already headed by daughter Helen Johnson-Leipold, 46. Fourth
child, Winifred, on board of Johnson International and runs Johnson
101. Lazard LLC (92)
Industry: Investment banking
Revenues: $5 billion
Legendary three-headed investment bank (Paris, London, New York)
founded 1848 by three Lazard brothers, Parisian merchants in America.
Cousin (also son-in-law) Alexandre Weill (died 1906) set up New York
office 1850, formal bank 1880. Family-run ever since: Alexandre’s
great-grandson Michel David-Weill, 70, controls (since 1977) what’s now
world’s fourth-largest mergers and acquisitions adviser; our revenue
estimate could be very conservative. Family holds 61% of voting
control. David-Weill may be end of family line: son-in-law Edouard
Stern left angrily 1997; non-family wizard Bruce Waserstein CEO since
102. Saudi Binladin Group (93)
Bin Laden/Jeddah, Saudi Arabia
Revenues: $5 billion
Conglomerate founded as construction firm 1931 by Yemeni immigrant
Mohammed bin Laden (or Binladin). Through ties to Saudi royal family,
grew to include mining and telecommnunications. Founder had 54 sons.
One, Bakr bin Laden, now heads company. Another, international
terrorist Osama bin Laden, has allegedly been disowned by family.
103. *Bolloré (117)
Industry: Oil, transport
Revenues: $4.967 billion
Conglomerate’s prime activity is freight forwarding, port services,
shipping lines; also distributes oil and makes film, thin papers,
cigarettes, mainly in French-speaking parts of Africa. Chairman and CEO
Vincent Bolloré and his family control more than 90% of voting rights.
104. *Koç Group (94)
Revenues: $4.901 billion
Conglomerate with more than 100 companies, from home appliance
makers to auto makers to financial services. Its 21 listed companies
account for 18% of Turkey’s market capitalization. Chairman Rahmi Koç,
72, and his family inherited about 81% of stock in parent Koç
(pronounced “coach”) Holding.
105. Alticor (104)
Van Andel and De Vos/Ada, Mich.
Industry: Household products
Revenues: $4.9 billion
Holding company formed 2000 for four businesses, most notably
Amway. High school buddies Jay Van Andel and Richard DeVos sold soap
from DeVos’ Grand Rapids basement in 1948, subsequently enlisted more
than 3 million reps to sell 450 products in more than 80 countries.
Amway now one of world’s largest direct sales operations. DeVos, now
77, retired 1993; Jay, now 79, retired 1995. Their sons Dick DeVos, 37,
and Steve Van Andel succeeded them as co-chief executives.
106. C&A (95)
Revenues: $4.8 billion
Four-hundred-year-old chain of 470 retail apparel shops in 12
European countries is owned by at least 150 members of secretive
Brenninkmeijer family, who hold nearly all key positions and often
communicate in a secret code.
107. *McGraw-Hill (99)
Industry: Publishing, advertising
Revenues: $4.788 billion
Trade magazine publishers James H. McGraw Sr. and John Hill joined
forces to create book company, 1909. Hill died 1916; McGraw and
descendants built company into world’s largest textbook publisher, also
important business information provider (Standard & Poor’s, Business Week,
etc.). James Sr. retired 1935, died 1948; was succeeded in turn by sons
James Jr. (Jay), Curtis and Donald. Their nephew Harold McGraw Jr. (b.
1918) beat out two cousins and an uncle for CEO job 1975; he’s been
chairman emeritus since 1988. His son Harold (Terry) III, 55, is
current CEO. McGraw family still owns 20% of stock.
108. *Porsche (115)
Revenues: $4.776 billion
Fabled sports car maker also offers watches, luggage and tennis
rackets a century after its founding. Descendants of founding family
Porsche-Piëch clan own 76% of Porsche AG; they also own one of Europe’s
most successful car dealers, Porsche Holding, in Austria. Ferdinand
Piëch, 66, is chairman of Volkswagen, recently embarked on venture with
Porsche to create luxury sport utility vehicles.
109. Tchibo Holding (97)
Industry: Coffee, tobacco
Revenues: $4.728 billion
Major cigarette maker was founded by Max Herz in 1949. Under
current leader Gunter Herz, 60, company has shifted from tobacco to
coffee and cafés. Wholly owned by Herz family.
110. *Fomento de Construcciones y Contratas (98)
Revenues: $4.705 billion
FCC is Spain’s leading construction group (highways, airports,
dams, harbors, railways, and oil and gas pipelines). Founder’s
daughter, deputy chairman Esther Koplowitz Romero de Juseu, owns 29%,
shares control with Vivendi Environment, which owns 28%.
111. *Danaher Corp. (121)
Industry: Industrial equipment
Revenues: $4.577 billion
Brothers Steven and Mitchell Rales started manufacturing company in
their 20s, expanded through acquisitions into tools (Sears Craftsman
hammers), components, process-environmental controls. They own 30%
today. Steven 51, is chairman; Mitchell, 46, is chairman of executive
112. *Italmobiliare S.p.A. (116)
Industry: Concrete, paper, services
Revenues: $4.575 billion
Family holding group for top concrete maker Italcementi plus other
construction materials firms. Subsidiaries in food packaging,
transportation and finance operate in Asia, Europe and North America.
113. *Carnival Corp. (101)
Industry: Cruise line
Revenues: $4.368 billion
World’s largest cruise operator (13 cruise lines and 65 ships)
reinforced its lead with $5.5 billion acquisition of Princess Cruises.
CEO Micky Arison, 54, son of founder Ted Arison, and his family own
about 35% of company.
114. *Kumagai Gumi Co. Ltd. (86)
Revenues: $4.358 billion
International general contractors, specializing in civil
engineering projects (roads, subways, tunnels, dams) as well as golf
courses and factories. Survived Japan’s real estate market bust after
creditor banks forgave a record 430 billion yen in debt.
115. *Kelly Services (107)
Kelly, Adderley/Troy, Mich.
Industry: Business services
Revenues: $4.324 billion
William Russell Kelly (1905-1998), son of oil-drilling pioneer,
started temporary office service in Detroit with $10,000. Brought in
brothers Dick (later president), Jim and Ted. After founder’s wife was
killed in auto crash 1947, he married employee Margaret Adderley and
adopted her son Terence. Terence Adderley, now 70, joined 1958, became
president 1967, has been chairman since father’s death. Company places
700,000 people a year in jobs through 2,400 offices in 26 countries.
Adderley, now only family member at company, controls 92% of stock.
116. *Inditex (147)
Ortega/La Coruna, Spain
Revenues: $4.297 billion
Designer-cum-retailer Industria de Diseno Textil (Inditex) sells
trendy clothes on global scale. More than 1,300 shops in nearly 40
countries under six banners: Zara, Massimo Dutti, Pull & Bear,
Bershka, Oysho and Stradivarius, mostly in Europe. Amancio Ortega Gaona
founded Zara in 1975, later created Inditex as a holding company.
Inditex went public in May 2001.
117. Advance Publications (100)
Newhouse/Staten Island, N.Y.
Industry: Newspapers, magazines
Revenues: $4.2 billion
Founder Samuel I. Newhouse bought Staten Island Advance
1922, built disparate, unstructured chain overrun with some 20
relatives before his death, 1979. Somehow it works: Son Donald, 73,
runs 25 profitable daily newspapers (Cleveland Plain Dealer, Newark Star-Ledger,
etc.). His brother Si Jr., 75, runs less profitable but glitzier Condé
Nast magazines, nation’’s second-largest magazine publisher (Vogue, Glamour, Vanity Fair, New Yorker).
118. Hallmark Cards (111)
Hall/Kansas City, Mo.
Industry: Greeting cards
Revenues: $4.2 billion
Founder Joyce Hall (1891-1982) began as teenager, stamped company
with notion that good taste pays (Hallmark Hall of Fame TV show,
Hallmark Gallery in New York, Crown Center in Kansas City). Today 51%
of all cards sold in U.S. are Hallmark cards. Hall family owns
two-thirds, employees the rest. Founder’s son Donald, 75, stepped down
as CEO 1986 but remains chairman; son Don Jr., 47, is CEO.
119. Levi Strauss (106)
Industry: Jeans manufacturer
Revenues: $4.137 billion
World’s #1 maker of brand-name clothes. Bavarian immigrant Levi
Strauss (1829-1902) set up San Francisco dry goods house 1853; with
tailor Jacob Davis, invented blue jeans 1873. Levi Strauss & Co.
now one of world’s largest jeans makers. Bachelor Strauss left business
to four Stern nephews, who ran it until 1928. Team of Stern son-in-law
Walter Haas Sr. and brother-in-law Daniel Koshland ran firm next; their
descendants still in control, with most family shares held in 15-year
voting trust. Family LBO’d the company 1996 in $4.3 billion deal
orchestrated by Strauss’s great-great-grandnephew Robert Haas, now 61.
120. *Jerónimo Martins (131)
Soares dos Santos/Lisbon, Portugal
Industry: Food retailing
Revenues: $4.079 billion
Portugal’s second-largest food retailer, founded 1792. Chairman
Alexandre Soares dos Santos and four of his seven children work in
business, assisting with aggressive overseas expansion. Family owns 60%
121. Oetker Group (110)
Revenues: $4.054 billion
Wholly owned family conglomerate embraces breweries, shipping,
baked goods, frozen pizza, U.S. real estate, resort hotels in France
and Switzerland, Hamburg Süd shipping line. Group now run by brothers
August, Christian and Richard Oetker.
122. McCain Foods Limited (129)
McCain/Florenceville, New Brunswick, Canada
Industry: Food processing
Revenues: $4.016 billion
McCain family began producing French fried potatoes in 1957, now
world’s leading maker of French fries. Also produces frozen vegetables,
juices, pizza and entrees. Family still owns the company, although some
clan members split off in 1990s to run Maple Leaf Foods, Canada’s
second-largest food processor (see #147 below).
123. *Cablevision Systems (NR)
Industry: Cable TV
Revenues: $4.003 billion
Company provides cable TV service to more than 3 million customers
in and around New York City. Also operates national cable networks
American Movie Classics and Women’s Entertainment, Madison Square
Garden, NBA’s New York Knicks, NHL’s New York Rangers, plus Radio City
Music Hall. Founder/chairman Charles F. Dolan, 76, and family own 26%
of stock but control 76% of vote. Son James L. took over as CEO 1995.
Also involved: Jimmy’s wife and his two older brothers.
124. *Murphy Oil (105)
Murphy/El Dorado, Ark.
Revenues: $3.967 billion
Charles H. Murphy Sr. started investing in oil 1907; after World
War I son Charles Jr. expanded into oil and gas production. After two
non-family CEOs, founder’s grandson Claiborne Deming (Charles Jr.’s
nephew), now 48, took over 1994. Now operates pipelines in U.S. and
Canada, also runs 922 gas stations in U.S. and Britain, many on
125. *Richemont (NR)
Industry: Luxury goods
Revenues: $3.941 billion
World’s second-largest luxury goods company (behind French rival
LVMH Moët Hennessy Louis Vuitton); markets Cartier jewelry, Piaget and
Baume & Mercier watches, Alfred Dunhill leather goods and Montblanc
pens. Also owns 80% of jeweler Van Cleef & Arpels. Founded by South
African entrepreneur Anton Rupert, who invented first king-sized
cigarette; son Johann is now CEO.
Listing continues on next page.
© 2004 Family Business magazine