Family Business: The guide for building and managing family companies


The World’s 250 Largest Family Businesses

The most extensive list ever compiled.

A year ago Family Business magazine broke new ground by compiling the first single list of the world’s 200 largest family companies. This year we’ve tracked down new candidates and expanded that list to 250.

And an impressive group it is: 250 family-run companies, each with annual revenues of at least $1.2 billion, spread across 28 countries. Many of them dominate their national economies, but most reach far beyond national borders. Taken as a whole, by any measure they constitute a significant force in the global economy.

U.S. companies again account for the lion’s share of the listed firms—130 out of the 250, far ahead of runner-up France (with 17) and Germany (16). But once again the very top of the list tells a different story. Only seven U.S. companies made the top 25, which is spread among firms from nine countries. Korea, where power is concentrated among family-run industrial groups, placed only three companies on our “Global 250”—but all three ranked in the top 11, and two of those placed among the top four. Clearly, family economic power remains much more concentrated in some countries than in others.

Compiling such a list is a stiff challenge by any measure. Between shifting disclosure regulations and varying currency exchange rates, pinning down precise numbers and owners is far more challenging for foreign companies than for those in the U.S., where we most recently found 143 billion-dollar family firms (Autumn 2003). Many Asian and European companies operate behind intricate holding-company structures that make ownership and even management difficult to define. For purposes of this global list, any company in which a family seems to exercise a significant presence—whether through ownership or management, but not necessarily both—has been included.

As with our previous lists, we invite readers to alert us to companies we’ve overlooked. In the meantime, the listed companies and their websites may provide you with useful insights and perhaps even possible contacts as you ponder globalizing your own operation.

For easy reference, we have provided an index of listed companies.

© 2004 Family Business magazine     * Denotes company whose stock is publicly traded.    Revenue and employment figures are the most recent available.    Last year’s rank in parentheses. (NR) = Not ranked.

1. *Wal-Mart Stores (1)
Walton/Bentonville, Ark.
Industry: Discount retail chain
Founded: 1962
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)
Ford/Dearborn, Mich.
Industry: Auto manufacturer
Founded: 1903
Revenues: $163.4 billion
Employees: 350,321
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
Industry: Conglomerate
Founded: 1938
Revenues: $98.7 billion
Employees: 175,000
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
Industry: Conglomerate
Revenues: $81 billion
Employees: 130,000
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)
Defforey/Paris, France
Industry: Retailing
Revenues: $72.035 billion
Employees: 396,662
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)
Agnelli/Turin, Italy
Industry: Automobiles
Revenues: $61.014 billion
Employees: 186,492
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)
Agnelli/Turin, Italy
Industry: Diversified holdings
Revenues: $59.239 billion
Employees: 198,764
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 businesses.

8. *PSA Peugeot Citroën S.A. (9)
Peugeot/Paris, France
Industry: Tires
Revenues: $57.054 billion
Employees: 198,600
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)
Cargill, MacMillan/Minneapolis
Industry: International commodities trader
Founded: 1865
Revenues: $50.8 billion
Employees: 97,000
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
Industry: Automobiles
Revenues: $44.315 billion
Employees: 101,395
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
Industry: Automobiles
Revenues: $40.111 billion
Employees: 49,855
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)
Koch/Wichita, Kan.
Industry: Oil, gas, agriculture etc.
Founded: 1918
Revenues: $40 billion
Employees: 11,000
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)
Bosch/Gerlingen-Schillerhöhe, Germany
Industry: Auto parts
Revenues: $36.659 billion
Employees: 224,341
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)
Botin/Madrid, Spain
Industry: Banking
Founded: 1857
Revenues: $32.524 billion
Employees: 114,927
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)
Albrecht/Essen, Germany
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
Industry: Retailing
Revenues: $28.888 billion
Employees: 143,000
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)
Pinault/Paris, France
Industry: Retailing, etc.
Revenues: $28.692 billion
Employees: 113,453
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)
Ito/Tokyo, Japan
Industry: Convenience stores
Revenues: $28.436 billion
Employees: 125,400
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
Industry: Retailing
Revenues: $28.227 billion
Employees: 183,396
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
Employees: 174,500
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 1998.

21. *Motorola (14)
Galvin/Schaumburg, Ill.
Industry: Telecommunications
Founded: 1928
Revenues: $26.679 billion
Employees: 97,000
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)
Redstone/New York
Industry: Media and entertainment
Founded: 1954
Revenues: $24.606 billion
Employees: 120,630
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 company.

23. *Novartis Group (23)
Landolt/Basel, Switzerland
Industry: Health and personal care
Revenues: $23.453 billion
Employees: 71,116
One of world’s top five pharmaceutical firms (Merck is #1). Pierre Landolt and family, heirs to Sandoz pharmaceutical fortune, own about 4%.

24. *Tyson Foods (50)
Tyson/Springdale, Ark.
Industry: Food processor
Founded: 1935
Revenues: $23.367 billion
Employees: 120,000
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
Industry: Retailing
Revenues: $23.317 billion
Employees: 121,604
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% of firm.

26. *Roche Group (NR)
Oeri/Hoffmann/Basel, Switzerland
Industry: Pharmaceuticals
Revenues: $21.422 billion
Employees: 69,659
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)
Mohn/Gütersloh, Germany
Industry: Publishing, media
Revenues: $19.193 billion
Employees: 80,632
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)
Weyerhaeuser/Tacoma, Wash.
Industry: Timber products
Founded: 1900
Revenues: $18.521 billion
Employees: 57,000
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)
Tisch/New York
Industry: Tobacco, hotels, etc.
Founded: 1919
Revenues: $17.495 billion
Employees: 25,800
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)
Murdoch/Adelaide, Australia
Industry: Media
Founded: 1923
Revenues: $17.474 billion
Employees: 35,000
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
Industry: Retailing
Revenues: $16.575 billion
Employees: 104,536
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)
Michelin/Clermont-Ferrand, France
Industry: Tires, travel
Revenues: $16.398 billion
Employees: 126,285
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)
Jenkins/Lakeland, Fla.
Industry: Supermarkets
Founded: 1930
Revenues: $16.027 billion
Employees: 123,000
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)
Bombardier/Montreal, Canada
Industry: Aerospace, defense
Revenues: $15.482 billion
Employees: 70,411
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)
Mars/McLean, Va.
Industry: Candy, rice, pet food
Founded: 1923
Revenues: $15 billion
Employees: 30,000
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)
Bettencourt/Clichy, France
Industry: Cosmetics
Revenues: $14.975 billion
Employees: 50,491
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, indirect stake.

37. *Lagardère (41)
Lagardère/Paris, France
Industry: Defense systems, magazines
Revenues: $14.474 billion
Employees: 45,826
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)
Fisher/San Francisco
Industry: Apparel stores
Founded: 1969
Revenues: $14.455 billion
Employees: 169,000
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 of directors.

39. *LVMH Moët Hennessy Louis Vuitton (47)
Arnault/Paris, France
Industry: Luxury goods
Revenues: $14.304 billion
Employees: 56,591
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)
Riboud/Paris, France
Industry: Food products
Revenues: $14.237 billion
Employees: 92,209
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, 1996.

41. *General Dynamics (39)
Crown/Falls Church, Va.
Industry: Aerospace and defense
Founded: 1962
Revenues: $13.829 billion
Employees: 54,000
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)
Busch/St. Louis
Industry: Beer
Founded: 1860
Revenues: $13.566 billion
Employees: 23,176
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% of stock.

43. *Cathay Life Insurance (45)
Tsai/Taipei, Taiwan
Industry: Insurance
Revenues: $13.022 billion
Employees: 30,000
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)
Stronach/Ontario, Canada
Industry: Auto parts
Revenues: $12.971 billion
Employees: 73,000
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)
Otto/Hamburg, Germany
Industry: Catalogs, retailing
Revenues: $12.461 billion
Employees: 79,137
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)
Industry: Broadcasting
Founded: 1963
Revenues: $12.46 billiob
Employees: 82,000
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)
Bellon/Montigny-le-Bretonneux, France
Industry: Food services
Revenues: $12.378 billion
Employees: 315,141
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)
Davis/Jacksonville, Fla.
Industry: Supermarkets
Founded: 1925
Revenues: $12.168 billion
Employees: 99,200
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)
Desmarais/Montreal, Canada
Industry: Mutual funds, utilities
Revenues: $12.061 billion
Employees: 28,000
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)
Kamprad/Helsingborg, Sweden
Industry: Furniture
Revenues: $11.779 billion
Employees: 75,500
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)
Gerling/Cologne, Germany
Industry: Insurance
Revenues: $11.73 billion
Employees: 12,500
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)
Bechtel/San Francisco
Industry: Engineering and construction
Founded: 1898
Revenues: $11.6 billion
Employees: 47,000
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
Industry: Retailing
Founded: 1948
Revenues: $11.2 billion
Employees: 50,106
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
Founded: 1934
Revenues: $10.9 billion
Employees: 83,402
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
Industry: Liquor
Revenues: $10.87 billion
Employees: 4,870
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)
Heineken/Amsterdam, Netherlands
Industry: Brewing
Revenues: $10.788 billion
Employees: 48,237
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)
Henkel/Düsseldorf, Germany
Industry: Chemicals
Revenues: $10.121 billion
Employees: 48,638
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)
Wallenberg/Stockholm, Sweden
Industry: Industrial holdings
Revenues: $9.986 billion
Employees: 627
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
Founded: 1905
Revenues: $9.9 billion
Employees: 60,000
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 programs.

60. Cox Enterprises (62)
Industry: Newspapers, TV
Founded: 1898
Revenues: $9.9 billion
Employees: 77,000
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 previous marriage.

61. SHV Holdings N.V. (56)
Fentener van Vlissingen/Utrecht, Netherlands
Industry: Energy holdings
Revenues: $9.833 billion
Employees: 28,300
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
Employees: 117,843
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)
Ambani/Mumbai, India
Industry: Chemicals
Revenues: $9.634 billion
Employees: 12,915
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)
Smith/Glenview, Ill.
Industry: Industrial equipment
Founded: 1912
Revenues: $9.468 billion
Employees: 48,700
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)
Manoogian/Taylor, Mich.
Industry: Building materials
Founded: 1929
Revenues: $9.419 billion
Employees: 61,000
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)
Alvarez/Madrid, Spain
Industry: Retailing
Revenues: $9.133 billion
Employees: 59,000
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
Industry: Chemicals
Founded: 1970
Revenues: $9 billion
Employees: 15,000
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
Founded: 1930
Revenues: $8.9 billion
Employees: 29,000
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)
Marriott/Washington, D.C.
Industry: Hotels, casinos
Founded: 1927
Revenues: $8.441 billion
Employees: 144,000
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
Industry: Broadcasting
Founded: 1972
Revenues: $8.421 billion
Employees: 41,800
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)
Tata/Mumbai, India
Industry: Textile, steel, autos
Revenues: $7.959 billion
Employees: 250,000
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)
Tanzi/Milan, Italy
Industry: Dairy products
Revenues: $7.955 billion
Employees: 36,356
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)
Boehringer/Ingelheim, Germany
Industry: Pharmaceuticals
Founded: 1885
Revenues: $7.945 billion
Employees: 31,846
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
Founded: 1938
Revenues: $7.911 billion
Employees: 55,208
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)
Hopp/Walldorf, Germany
Industry: Software
Revenues: $7.786 billion
Employees: 29,374
One of world’s largest independent software companies. Co-founder Dietmar Hopp and family, plus two other co-founders, control about 35% of company.

76. *Thomson Corp. (74)
Thomson/Toronto, Canada
Industry: Media
Revenues: $7.756 billion
Employees: 42,000
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
Founded: 1968
Revenues: $7.6 billion
Employees: 3,227
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
Industry: Banking
Revenues: $7.577 billion
Employees: 36,349
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)
Rausing/Pully, Switzerland
Industry: Packaging
Revenues: $7.441 billion
Employees: 25,000
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)
Leuven, Belgium
Industry: Brewing
Revenues: $7.328 billion
Employees: 35,044
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
Employees: 34,957
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
Employees: 26,452
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 chairman.

83. Enterprise Rent-A-Car (81)
Taylor/St. Louis
Industry: Car rentals and leasing
Founded: 1957
Revenues: $6.5 billion
Employees: 50,000
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)
Turner/Goodlettsville, Tenn.
Industry: Retail stores
Founded: 1939
Revenues: $6.1 billion
Employees: 53,500
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)
Industry: Supermarkets
Revenues: $6.064 billion
Employees: 40,000
Spain’s leading supermarket chain, with 700 low-price stores. Juan Roig is current CEO.

86. Heraeus Holding GmbH (NR)
Heraeus/Hanau, Germany
Industry: Precious metals
Founded: 1850
Revenues: $6.057 billion
Employees: 9,181
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 current CEO.

87. Aditya Birla Group (NR)
Birla/Pilani, India
Industry: Conglomerate
Revenues: $6 billion
Employees: 72,000
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
Founded: 1901
Revenues: $5.975 billion
Employees: 52,000
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)
Sabanci/Istanbul, Turkey
Industry: Conglomerate
Revenues: $5.857 billion
Employees: 31,380
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)
Mulliez/Paris, France
Industry: Electrical equipment
Revenues: $5.846 billion
Employees: 19,465
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
Founded: 1953
Revenues: $5.756 billion
Employees: 35,000
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, #198 below.

92. *Grupo Carso (85)
Slim/Mexico City, Mexico
Industry: Conglomerate
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)
Garrone/Genoa, Italy
Industry: Oil, energy
Revenues: $5.506 billion
Employees: 1,289
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 (Luxembourg).

94. De Beers Consolidated Mines (NR)
Oppenheimer/Kimberley, South Africa
Industry: Diamonds
Founded: 1917
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)
Lauder/New York
Industry: Cosmetics
Founded: 1946
Revenues: $5.118 billion
Employees: 21,500
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)
Sahenk/Istanbul, Turkey
Industry: Banking, construction
Founded: 1951
Revenues: $5.1 billion
Employees: 20,000
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)
Garza/Monterrey, Mexico
Industry: Brewing
Revenues: $5.096 billion
Employees: 41,656
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)
Ricard/Paris, France
Industry: Distiller
Revenues: $5.068 billion
Employees: 12,526
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)
Persson/Stockholm, Sweden
Industry: Clothing retailer
Revenues: $5.026 billion
Employees: 25,674
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)
Johnson/Racine, Wis.
Industry: Home and personal care products
Founded: 1886
Revenues: $5 billion
Employees: 9,500
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 Family Foundation.

101. Lazard LLC (92)
David-Weill/Paris, France
Industry: Investment banking
Revenues: $5 billion
Employees: 2,750
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 2002.

102. Saudi Binladin Group (93)
Bin Laden/Jeddah, Saudi Arabia
Industry: Conglomerate
Founded: 1931
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)
Bolloré/Puteaux, France
Industry: Oil, transport
Revenues: $4.967 billion
Employees: 21,481
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)
Koç/Istanbul, Turkey
Industry: Conglomerate
Revenues: $4.901 billion
Employees: 39,866
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
Founded: 1959
Revenues: $4.9 billion
Employees: 11,000
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)
Brenninkmeijer/Vilvoorde, Belgium
Industry: Retailing
Revenues: $4.8 billion
Employees: 30,000
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)
McGraw/New York
Industry: Publishing, advertising
Founded: 1909
Revenues: $4.788 billion
Employees: 16,505
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)
Porsche-Piëch/Stuttgart, Germany
Industry: Automobiles
Revenues: $4.776 billion
Employees: 10,143
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)
Herz/Hamburg, Germany
Industry: Coffee, tobacco
Revenues: $4.728 billion
Employees: 20,349
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)
Koplowitz/Barcelona, Spain
Industry: Construction
Revenues: $4.705 billion
Employees: 52,078
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)
Rales/Washington, D.C.
Industry: Industrial equipment
Founded: 1982
Revenues: $4.577 billion
Employees: 29,000
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 committee.

112. *Italmobiliare S.p.A. (116)
Pesenti/Milan, Italy
Industry: Concrete, paper, services
Revenues: $4.575 billion
Employees: 18,489
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
Founded: 1972
Revenues: $4.368 billion
Employees: 37,200
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)
Kumagai/Tokyo, Japan
Industry: Contractor
Revenues: $4.358 billion
Employees: 5,987
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
Founded: 1946
Revenues: $4.324 billion
Employees: 708,200
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
Industry: Clothing
Founded: 1975
Revenues: $4.297 billion
Employees: 32,535
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
Founded: 1922
Revenues: $4.2 billion
Employees: 22,785
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
Founded: 1910
Revenues: $4.2 billion
Employees: 20,000
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)
Haas/San Francisco
Industry: Jeans manufacturer
Founded: 1853
Revenues: $4.137 billion
Employees: 12,400
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
Employees: 30,722
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% of group.

121. Oetker Group (110)
Oetker/Hamburg, Germany
Industry: Conglomerate
Revenues: $4.054 billion
Employees: 12,000
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
Founded: 1957
Revenues: $4.016 billion
Employees: 18,000
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)
Dolan/Bethpage, N.Y.
Industry: Cable TV
Founded: 1973
Revenues: $4.003 billion
Employees: 21,075
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.
Industry: Oil
Founded: 1907
Revenues: $3.967 billion
Employees: 4,010
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 Wal-Mart lots.

125. *Richemont (NR)
Rupert/Zug, Switzerland
Industry: Luxury goods
Revenues: $3.941 billion
Employees: 14,978
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