Yahoo Finance 25 Richest Billionaires Who Inherited their Fortunes
In this article, we will look at the 25 richest billionaires who inherited their fortunes. If you want to skip our detailed analysis, you can go directly to the 5 Richest Billionaires Who Inherited their Fortunes.
Billionaires Heirs on the Rise
According to the UBS Billionaire Ambitions Report 2023, it has happened for the first time in nine editions of the report that billionaires have gathered more wealth through inheritance than entrepreneurship as the ‘great wealth transfer’ has started to pick pace. In the next 20 years, more than 1,000 billionaires will pass an estimated $5.2 trillion of their wealth to their children, as per the UBS report. The surge in billionaires passing their wealth to their children is driven by higher entrepreneurial activity over the last few decades. In 2022, around 53 heirs inherited a total wealth of $150.8 billion, surpassing the total wealth of $140.7 billion accumulated by 84 new self-made billionaires.
As we mentioned in our article about the 20 richest people in Africa in 2024, the Europe, the Middle East, and Africa (EMEA) region gained the most wealth, with the region’s wealth rising by 21% to $3.2 trillion in the 2022/2023 period. The total number of billionaires in the EMEA region increased from 599 in 2022 to 658 in 2023. In the last 12 months, the number of billionaires around the world have increased from 2,376 to 2,544, rising by 7% through April 6, 2023.
As the great wealth passes on, the newer generations have their own view on the legacy of the business and utilization of their wealth. Around 63% of billionaires with inherited wealth who were surveyed said that they plan to continue and expand their family business. Almost 60% of heirs expressed that they want to support future generations and 32% plan to continue donating their wealth as per pre-defined philanthropic goals. As per Forbes, the leading 400 billionaires in 2023 collectively gave away nearly $250 billion to charity, accounting for less than 6% of their combined net worth.
Today’s heirs are more focused on major economic opportunities such as impact investing, innovative technologies, and clean-energy transformation. Around 58% of first-generation billionaires believe that their biggest challenge to take over from their heirs will be inculcating the necessary values, education, and experience. Heirs are also cautious about the global economic threats with 66% of first-generation billionaires seeing a potential US recession as their primary concern. Moreover, 62% of first-generation billionaire heirs see geopolitical tensions as the greatest economic challenge. With the advancement in technology, 65% of heirs feel generative artificial intelligence (AI) is one of the biggest commercial opportunities for operating their business in 2024.
In relation to investing, 43% of first-generation billionaires plan to increase their allocation to private debt in 2024 and 38% intend to raise developed market bond holdings. Around 63% and 44% of billionaires in the Americas are seeking exposure to private equity direct investments and private equity funds, respectively.
Companies Driving Generational Wealth
Some of the richest billionaires who inherited their fortunes continue to experience an increase in their wealth through the progress of their companies. Walmart Inc. (NYSE:WMT), Reliance Industries Limited (NSE:RELIANCE), and L'Oreal S.A. (EPA:OR) are some of the biggest companies in the world owned and operated by the richest billionaire heirs.
Walmart Inc. (NYSE:WMT) is one of America’s largest retail corporations. The Walton family holds an estimated 45% stake in Walmart Inc. (NYSE:WMT), distributed among the seven heirs of founder Sam Walton and his brother Bud, as per Forbes. The company is ranked number 1 for the 10th consecutive year on the Fortune Global 500 list. On February 20, the company announced its fourth-quarter earnings for fiscal year 2024. Walmart Inc. (NYSE:WMT) reported earnings per share of $0.60, beating consensus estimates by $0.05. The company posted revenue of approximately $171.91 billion, surpassing estimates by $2.66 billion. Here are some of the comments from the Q4 2024 earnings call:
“Our team delivered a great quarter, finishing off a strong year. We drove sales growth of 4.9% and adjusted operating profit growth of 10.9% in constant currency. Highlights include: higher transaction counts and unit volumes; gains in market share in the U.S. and internationally; improved in-stock levels with inventory being in great shape and down versus last year; strong performance in Walmart U.S. customer experience scores, even during the high volume days before Christmas. Plus, this year, we passed $100 billion in global e-commerce sales for the first time.”
Reliance Industries Limited (NSE:RELIANCE) was founded by Dhirubhai Ambani. The heir to the company Mukesh Ambani is the world’s 11th richest person, as of March 25. On January 29, Reliance Industries Limited (NSE:RELIANCE) reported its consolidated results for the third quarter of fiscal 2024. The company reported gross revenue of $29.8 billion, up by 3.2% year-over-year. The EBITDA came in at $5.4 billion, rising by 16.7% year-over-year.
L'Oreal S.A. (EPA:OR) was founded by Eugène Schueller and the wealth was transferred to the family. Schueller’s granddaughter, Francoise Bettencourt Meyers, heiress to the company’s wealth is the vice-chairwoman of L'Oreal S.A. (EPA:OR). Bettencourt Meyers and her family own around 33% of L'Oreal S.A. (EPA:OR) shares, as per Forbes. On February 9, L'Oreal S.A. (EPA:OR) announced that it signed a long-term agreement with Prada S.p.A. (OTC:PRDSY) to create, develop, and distribute luxury beauty products for the Miu Miu brand.
With this context, let’s take a look at the 25 richest billionaires who inherited their fortunes.
A businessman in a suit, counting stacks of money in front of a graph of a mortgage finance market.
Our Methodology
We gathered the data for the 25 richest billionaires who inherited their fortunes from the Forbes Real Time Billionaires Index. We have shortlisted the richest billionaires who inherited family wealth including grandparents, fathers, and spouses. The richest billionaires who inherited their fortunes are ranked in ascending order of their net worth, as of March 25.
25 Richest Billionaires Who Inherited Their Fortunes
25. Iris Fontbona
Net Worth: $27.2 Billion
Iris Fontbona is heir to the wealth of her late husband Andronico Luksic. Fontbona has stakes in mining firm Antofagasta plc (LON:ANTO) and Chilian conglomerate Quiñenco S.A. (SSE:QUINENCO). Iris Fontbona ranks 25th among the richest billionaires who inherited their fortunes.
24. Lukas Walton
Net Worth: $28.1 Billion
Lukas Walton is the grandson of Sam Walton and has a total net worth of around $28.1 billion, as of March 25. Lukas Walton ranks among the richest billionaires who inherited their fortunes.
23. Abigail Johnson
Net Worth: $29 Billion
Abigail Johnson is heir to her father’s business and has been the CEO of Fidelity Investments since 2014. With total wealth of $29 billion, Abigail Johnson ranks 23rd among the richest billionaires who inherited their fortunes.
22. Gina Rinehart
Net Worth: $30.3 Billion
Gina Rinehart took over her father's mining business and became executive chairwoman of Hancock Prospecting in 1992. Gina Rinehart has total wealth of around $30.3 billion and is the richest person in Australia.
21. Miriam Adelson
Net Worth: $31.5 Billion
Miriam Adelson inherited a stake in the Las Vegas Sands Corp. (NYSE:LVS) from her late husband Sheldon Adelson. Miriam along with her family owns more than half of the gambling giant. Miriam Adelson ranks 21st among the richest billionaires who inherited their fortunes.
20. Germán Larrea Mota Velasco
Net Worth: $31.8 Billion
Germán Larrea Mota Velasco inherited wealth in his father’s mining business. With a net worth of $31.8 billion, Germán Larrea Mota Velasco is one of the richest billionaires who inherited their fortunes.
19. Savitri Jindal
Net Worth: $32.9 Billion
Savitri Jindal inherits her wealth from her late husband Om Prakash Jindal who founded the Jindal Group. Savitri Jindal chairs the Jindal Group and is one of the richest billionaires who inherited their fortunes.
18. MacKenzie Scott
Net Worth: $36.3 Billion
MacKenzie Scott received a 4% stake in Amazon.com, Inc. (NASDAQ:AMZN) after her divorce from Jeff Bezos in 2019. MacKenzie Scott has a net worth of around $36.3 billion, as of March 25.
17. Gerard Wertheimer
Net Worth: $36.8 Billion
Gerard Wertheimer inherited wealth from his grandfather, Pierre Wertheimer, who co-founded the luxury brand, Chanel. Gerard Wertheimer ranks 17th among the richest billionaires who inherited their fortunes.
16. Alain Wertheimer
Net Worth: $36.8 Billion
Alain Wertheimer is the brother of Gerard and has a net worth of around $36.8 billion, as of March 25.
15. Dieter Schwarz
Net Worth: $37.5 Billion
Dieter Schwarz inherited the German multinational retailing firm Schwarz Group from his father Josef. With a net worth of $37.5 billion, Dieter Schwarz ranks 15th among the richest billionaires who inherited their fortunes.
14. Klaus-Michael Kuehne
Net Worth: $37.6 Billion
Klaus-Michael Kuehne has a net worth of $37.6 billion, as of March 25. Klaus-Michael joined Kuehne + Nagel International AG (OTC:KHNGF) in 1958, a company co-founded by his grandfather.
13. John Mars
Net Worth: $38.5 Billion
John Mars along with his siblings Jacqueline and Forrest Jr. inherited stakes in the candy, food, and pet care firm Mars Incorporated. John Mars has a net worth of $38.5 billion.
12. Jacqueline Mars
Net Worth: $38.5 Billion
Jacqueline Mars is the sister of John and ranks 12th among the richest billionaires who inherited their fortunes.
11. Mark Mateschitz
Net Worth: $39.1 Billion
Mark Mateschitz inherited his father's 49% stake in Red Bull. With a net worth of $39.1 billion, Mark Mateschitz is one of the richest billionaires who inherited their fortunes.
10. Giovanni Ferrero
Net Worth: $43.3 Billion
Giovanni Ferrero inherited the family’s business, The Ferrero Group. Giovanni Ferrero has a net worth of $43.3 billion and ranks 10th among the richest billionaires who inherited their fortunes.
9. Charles Koch
Net Worth: $58.5 Billion
Charles Koch inherited Koch Industries. Charles Koch has been CEO and chairman of Koch Industries since 1967.
8. Julia Koch
Net Worth: $64.3 Billion
Julia Koch and her three children inherited a 42% stake in Koch Industries from her husband, David. Julia Koch has a net worth of $64.3 billion and ranks among the richest billionaires who inherited their fortunes.
7. David Thomson
Net Worth: $67.7 Billion
David Thomson inherited Thomson Reuters Corporation (NYSE:TRI) from his grandfather Roy Thomson. David is the chairman of the company.
6. Alice Walton
Net Worth: $73 Billion
Alice Walton is the only daughter of Walmart Inc.’s (NYSE:WMT) founder Sam Walton. Alice Walton has a net worth of $73 billion and ranks sixth among the richest billionaires who inherited their fortunes.
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Disclosure: None. 25 Richest Billionaires Who Inherited their Fortunes is originally published on Insider Monkey.
