The World’s 250 Largest
Family Businesses
11.Hyundai Motor
(25)
Chung/Seoul, South Korea
Industry: Automobiles
Revenues: $40.111 billion
Employees: 49,855
www.hyundai.net
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
www.kochind.com
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
www.bosch.com
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
www.bsch.es
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
Employees:
www.aldi.com
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
www.auchan.com
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
www.pprgroup.com
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
www.itoyokado.iyg.co.jp
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
www.tengelmann.de
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
www.j-sainsbury.co.uk
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
www.motorola.com
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
www.viacom.com
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
www.novartis.com
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
www.tysonfoodsinc.com
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
www.bouygues.fr
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
www.roche.com
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
www.bertelsmann.de
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
www.weyerhaeuser.com
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
www.loews.com
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
www.newscorp.com
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
www.karstadtquelle.com
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
www.michelin.com
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
www.publix.com
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
www.bombardier.com
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
www.mars.com
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
www.loreal.com
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
www.lagardere.fr
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
www.gap.com
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
www.lvmh.com
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
www.danonegroup.com
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
www.gendyn.com
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
www.anheuser-busch.com
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
www.cathlife.com.tw
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
www.magnaint.com
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
www.otto.de
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)
Roberts/Philadelphia
Industry: Broadcasting
Founded: 1963
Revenues: $12.46 billiob
Employees: 82,000
www.comcast.com
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
www.sodexho.com
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
www.winn-dixie.com
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
www.powercorp.ca
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
www.ikea.com
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.
