Economists often tie America’s economic power to the native families that quietly shaped different industries for generations. These families built billion-dollar empires in food, media, technology, and energy among other sectors. Here are 10 families that planned carefully with strategic marriages and information sharing across generations to dominate industries nationwide.
The Rockefeller Family: Oil and Banking
John D. Rockefeller built a billion-dollar empire after starting Standard Oil in 1870. His company controlled 90% of US oil refining, and with this, he became America’s first billionaire. Then, the family expanded into banking, finance, and even philanthropy. Today, they preserve their legacy through investments and philanthropic efforts in sustainability and charitable foundations.
The Koch Family: Industrial and Political Power
The turning point for the Koch family came when Charles and David reimagined their father’s oil business as Koch Industries. Through their vision, they built a massive company that now earns over $125 billion annually. The Kochs have since dominated industries like energy and agriculture. Beyond business, they’re also known for funding conservative causes and influencing US policies.
The Mars Family: Candy and Pet Food
Who would’ve imagined that a small chocolate business could grow into Mars, Incorporated, a global powerhouse known for M&M’s and Snickers? As a privately held company, Mars controls a nearly $100 billion international business. The company has branched out into pet food, with top brands like Pedigree and Whiskas in its portfolio.
The Walton Family: Retail
In 1962, Sam Walton founded Walmart in Arkansas, setting the stage for it to grow into the world’s retail giant. The Walton family changed shopping and logistics with low prices and innovation. Since the family owns about 50% of the company and members have a combined net worth of about $432 billion, they’re a powerhouse in retail and philanthropy.
The Du Pont Family: Chemical and Industrial Innovation
Du Pont’s roots trace back to 1802 when Eleuthère Irénée du Pont established it to produce gunpowder. Soon after, they expanded into chemicals, textiles, and plastics, and Du Pont developed revolutionary products like nylon and Teflon. The company’s current valuation exceeds $50 billion, which makes it a leader in chemical manufacturing with over 94,000 employees worldwide.
The Cargill-MacMillan Family: Agricultural Powerhouse
The Cargill-MacMillan family controls Cargill Inc., America’s largest private company. After William Wallace Cargill started Cargill in 1865, they dominated global agriculture, food production, as well as global financial services. Then, they expanded to over 70 countries. As of 2024, Forbes estimates their worth at $60.6 billion, thanks to their strategic investments and innovations in food systems.
The Newhouse Family: Media and Communications
Samuel Irving Newhouse Sr. founded Advance Publications in 1922 and built the family into a media empire. The family expanded into renowned magazines like Vogue and The New Yorker through Condé Nast and also invested in Reddit. By the time Samuel Sr. passed away in 1979, the family owned a range of media properties, which included radio stations and cable systems.
The Pritzker Family: Hotels and Investments
This family built a fortune through diverse businesses, starting with the Hyatt hotel chain in 1957. Since then, they’ve expanded into manufacturing, finance, and technology. The Pritzkers owned over 200 companies, such as TransUnion and Marmon Group, although they sold off a controlling stake in the latter. Their roots extend to philanthropy, hospitality, education, and politics.
The Hearst Family: Media and Communication
Starting with the San Francisco Examiner, William Randolph Hearst began constructing his vast media empire in the late 19th century. His family expanded it to include Hearst Corp, Cosmopolitan, Good Housekeeping, Harper’s Bazaar, and Elle, along with other newspapers and TV stations. With a fortune exceeding $21 billion in 2024, the family impacts journalism and entertainment on a global scale.
The Johnson Family: Healthcare and Consumer Products
Johnson & Johnson is another example of how a small family business grew into a global powerhouse. They’re one of the largest healthcare and consumer goods companies worldwide, and they sell products like sterile surgical supplies, Band-Aids, Neutrogena, Baby Powder, and Tylenol. The family grew the business to over 60 countries with more than 130,000 employees globally.
