THE WORLD’S 50 RICHEST FAMILIES REVEALED
The wealthiest clans on the planet in 2019
Boasting outrageous riches that will make your jaw drop, the world's 50 most-moneyed families are collectively worth a breathtaking $4.5 trillion (£3.5trn), which is greater than the individual GDPs of Germany, the UK and France. Counting down from the 50th wealthiest to the richest of them all, we reveal the most affluent clans globally in 2019 based on their current net worth.
50. The Ferrero family, Italy: $24.5 billion (£18.9bn)
Piedmontese confectioner Michele Ferrero created the iconic Nutella spread in 1964, and oversaw the expansion of the clan's chocolate empire. His sons Giovanni and Pietro joined the business in 1997. Pietro died in a biking accident in 2011 and Michele passed away in 2015, leaving Giovanni as the sole heir. Today, he is worth some $22.6 billion (£17.4bn), while his mother Maria Franca Fissolo (pictured here with him at Michele's funeral) has a fortune of $1.9 billion (£1.5bn).
49. The Safra family, Lebanon/Brazil/Monaco: $24.8 billion (£19.2bn)
The Safra surname means 'yellow' or 'gold' in Arabic, a suitable moniker for a family that have been involved in banking and gold trading since Ottoman times. Syria-born banker Jacob Safra founded his eponymous bank in Beirut in 1920, moving operations to Brazil during the 1950s, and went on to establish incredibly successful banks in Switzerland and the US. Key living members of the dynasty include current Safra Group chairman Joseph Safra, and socialite Lily Safra (pictured).
48. The Dassault family, France: $27.8 billion (£21.5bn)
The originator of the Dassault aviation empire, Marcel Bloch, a French-Jewish aviation legend, was captured by the Nazis in World War II and later changed his name to Dassault, a homage to his brother's wartime pseudonym, which was derived from the French for 'assault tank'. Marcel's son Serge (pictured) led the group, which diversified into media, software and winemaking, until his death in 2018. Politician Olivier and businesswoman Marie-Hélène Habert-Dassault are notable scions.
47. The Johnson family, USA: $28.2 billion (£21.8bn)
Samuel Curtis (S.C.) Johnson started out with a flooring company in 1886, before developing his famous floor wax. His son Herbert Fisk Johnson took over but died without leaving a will, resulting in a family feud until the company was divided between his two children Herbert and Henrietta. In 1967, Herbert’s son Samuel became chairman; his son Herbert Fisk Johnson III (pictured) is now CEO of the family firm.
46. The Lee family, Hong Kong: $29.9 billion (£23.1bn)
Dubbed 'Hong-Kong's Buffett', Lee Shau-Kee's business interests began back in 1948 in currency and precious metal trading, before he turned to real estate in Hong Kong and China. Lee also has interests in gas, hospitality and is renowned for his investments. The tycoon's three children Margaret, Martin (pictured here with his wife Cathy Tsui) and Peter, and granddaughter Kristine Li, are all involved in the family business, and share in his $29.9 billion fortune (£23.1bn).
44 (tie). The Bolkiah family, Brunei: $30 billion (£23.1bn)
Brunei's royal dynasty, the House of Bolkiah was formed in 1363 and has ruled the southeast Asian country on and off ever since. Headed by Sultan Hassanal Bolkiah (pictured), the family has become rich thanks to Brunei's vast reserves of oil. The sultan is said to be worth $20 billion (£15.4bn), while his party-loving son Prince Haji Abdul Azim is thought to have a personal fortune approaching $5 billion (£3.9bn).
44 (tie). The Chearavanont family, Thailand: $30 billion (£23.1bn)
The Charoen Pokphand Group, one of the world’s biggest producers of livestock and animal feed, was established in Bangkok in the 1920s by two brothers. The group now encompasses interests in investments and telecoms, and is now run by one of the brothers' sons, Dhanin (pictured), whose own sons are also actively involved in the business. Needless to say, the family is Thailand's richest after the country's royal dynasty.
43. The Pritzker family, USA: $30.1 billion (£23.2bn)
Brothers Jay and Donald Pritzker founded the Hyatt Hotel chain in 1957. Jay’s children – Nancy, Thomas, John, Daniel and Gigi – and Donald’s three kids – Penny, Anthony and J.B. (pictured) – split the fortune and went on to be mega-successful in their own right. Thomas is the chairman and CEO of the Pritzker Organization that owns Hyatt Hotels, John owns a boutique hotel group, Gigi is a film producer, J.B. is the current governor of Illinois, and Penny is an ex-US Secretary of Commerce.
42. The Pinault family, France: $30.2 billion (£23.3bn)
What began as a wood and building materials company in 1963 took a turn towards high-end fashion when François Pinault bought a controlling stake in the Gucci Group in 1999. The fashion empire Kering now owns brands including Stella McCartney, Saint Laurent and Alexander McQueen, and is run by Pinault's son François-Henri, who is married to Hollywood actress Salma Hayek.
41. The Thomson family, Canada: $30.4 billion (£23.5bn)
David Thomson, 3rd Baron Thomson of Fleet (pictured), and his brother Peter have an investment company called Woodbridge, and hold a 55% controlling stake in media information giant Thomson Reuters, which David chairs alongside The Globe and Mail Inc., a separate media firm. Like his brother, Peter is also a private equity investor and serves on numerous boards.
40. The Lee family, South Korea: $30.9 billion (£23.9bn)
South Korea is famed for its chaebols, huge family-run conglomerates, and Samsung is arguably the best-known. The Lees are the oft-feuding clan behind the group, which was started in 1938 by Lee Byung-Chull, who founded a trading company. The original firm split into the Samsung Group, CJ Group, Shinsegae Group and Hansol Group – all of which are run by his descendants. Samsung Group chairman Jay Lee (pictured), who had a stint in prison following a bribery conviction, is the most powerful.
Read the full story behind Samsung's rise from grocery store to tech titans
Read the full story behind Samsung's rise from grocery store to tech titans
39. The Li family, Hong Kong: $31.9 billion (£24.6bn)
The Hong Kong-based Li family is up next. Li Ka-shing, who is nicknamed Superman for good reason, is a business genius who started plastics company Cheung Kong Industries in 1951 with modest savings and loans from relatives. Over the years, the company evolved into CK Hutchison Holdings, one of Hong Kong's leading conglomerates. Li's son Victor (pictured here with his father) is chairman and co-CEO of the group, while his brother Richard chairs investment vehicle Pacific Century Group.
38. The Hartono family, Indonesia: $32.8 billion (£25.3bn)
After the authorities shut down his profitable fireworks factory in World War II, entrepreneur Oei Wie Gwan founded clove cigarette firm Djarum. A devastating fire destroyed the company plant in 1963, the same year Oei died, but his sons Michael Bambang (pictured) and Robert Budi Hartono stepped in and saved the firm from ruin, going on to transform it into one of Indonesia's leading conglomerates. Today, the brothers have a combined fortune of $32.8 billion (£25.3bn).
37. The Knight family, USA: $33.4 billion (£25.8bn)
Phil Knight established sportswear trailblazer Nike with track coach Bill Bowerman in Oregon in 1964 as Blue Ribbon Sports to distribute Japanese athletic shoes in the US, and is still closely involved with the company. His filmmaker son Travis (pictured here with his father) works for Laika, the family's animation studio. Knight's other son Matthew passed away in a scuba diving accident in 2004.
36. The Cox family, USA: $33.6 billion (£25.9bn)
The Cox business empire is over a century old. Known for being a big player in the media and communications industries, it’s now expanded into the automotive arena. Founder James M. Cox’s daughter Anne Cox Chambers and his grandchildren James Cox Kennedy (pictured), who currently chairs Cox Enterprises, and Blair Parry-Okeden are heirs to his fortune.
34 (tie). The Dell family, USA: $34 billion (£26.3bn)
In February 1984, Michael Dell, who was just 19, founded his eponymous computer hardware company in Austin, Texas using a $1,000 investment courtesy of his parents. The firm produced its first PC in 1985 and has gone from strength to strength. Today, Dell is a global household name that turns over $78.7 billion (£60.8bn) a year, and Michael Dell is happily married with four children.
34 (tie). The Kwok family, Hong Kong: $34 billion (£26.3bn)
Brothers Raymond (left) and Thomas are property magnates with an empire that includes real estate in Hong Kong and China. Their late father Kwok Tak-Seng created Sun Hung Kai Properties in 1972. Brother Walter, who died in October, was at the helm from 1990 to 2008, then Thomas and Raymond assumed the running of the firm, with their mother Kwong Siu-hing as key shareholder. However, Thomas was jailed for five years in 2014 on corruption charges, and remains behind bars following a failed appeal.
Discover some other billionaires who did jail time
Discover some other billionaires who did jail time
33. The Adelson family, USA: $34.8 billion (£26.9bn)
As you'd probably expect, Nevada's richest family made its money from gambling. Patriarch Sheldon Adelson, who started his first business at the age of 12, got into casinos in 1988 and built The Venetian in the late 1990s, cashing in big time on its success. Today, the chairman of the Las Vegas Sands Corporation, who is pictured here with his devoted wife Miriam, is worth some $34.8 billion (£26.9bn).
32. The Xu family, China: $35.9 billion (£27.7bn)
Going from rags to riches, Xu Jiayin worked in a steel factory for a decade before graduating college and eventually moving into real estate. From humble beginnings, the former technician built up a formidable property developing empire through his firm Evergrande Group, and has amassed a fortune of $35.9 billion (£27.7bn). His son Xu Zhijian holds a vice-president position in the group.
31. The Rausing family, Sweden: $37.3 billion (£28.8bn)
The Rausings are Sweden's wealthiest clan. They owe their enviable wealth to patriarch Ruben Rausing (born Ruben Andersson) who founded the liquid food packing firm Tetra Pak in Lund back in 1943. Upon his death in 1983, the company passed to his sons Hans and Gad Rausing. Hans then sold his stake to Gad for $7 billion (£5.4bn). Today, the company is owned and controlled by Gad's children Finn, Jörn and Kirsten (pictured).
30. The Mulliez family, France: $37.5 billion (£30bn)
Retail royalty, the Mulliez family has been involved in the industry since the 19th century when patriarch Louis Mulliez-Lestienne founded clothing chain Phildar in the northern French city of Roubaix. Inspired by America's self-service stores, his grandson Gérard Mulliez (pictured) set up supermarket chain Auchan in 1961 and hasn't looked back. The firm, which is still family-owned, now boasts 3,513 locations worldwide and turns over more than $60 billion (£46.3bn) a year.
29. The Ma family, China: $39 billion (£30.1bn)
Ma Huateng, aka Pony Ma, co-founded tech conglomerate Tencent in 1998 in the city of Shenzhen. Now Asia's most valuable business, the company is also the world's largest gaming company and one of the most prominent social media firms on the planet. Unsurprisingly, Ma, who was instrumental in the company's success, has become very rich indeed. He is married to Wang Dan-ting, and the couple have a daughter called Manlin.
28. The Ballmer family, USA: $41.5 billion (£32.1bn)
College dropout Steve Ballmer was hired by Bill Gates in 1980 and served as Microsoft CEO from 2000 to 2014. Since leaving the company, the tech whiz has become the sole proprietor of the Los Angeles Clippers basketball team, and recently sold a 4% stake in Twitter. Ballmer has been married to Connie Snyder since 1990 and the couple are committed philanthropists. They have three sons, who share in the family fortune.
27. The Boehringer-Von Baumbach family, Germany: $42.2 billion (£32.6bn)
Founded in 1885 in Germany by Albert Boehringer, Boehringer Ingelheim initially produced tartaric acid for the food industry before branching out into pharmaceuticals. Today, the drugmaker is among the 20 biggest pharma companies in the world, and turns over $25.1 billion (£19.4bn) annually. Boehringer's descendants control the family firm, with scion Hubertus von Baumbach (pictured) serving as company chairman.
26. The Cargill-MacMillan family, USA: $42.3 billion (£32.7bn)
Christmas and birthday gift-giving must be an opulent affair among the Cargill-MacMillan dynasty. Apart from perhaps the secretive Saudi royal family, there are more billionaires in this family than any other, 14 in fact, including Martha 'Muffy' MacMillan (pictured). A total of 23 family members share a fortune of $42.3 billion (£32.7bn) gleaned from the family's agribusiness firm Cargill Inc., which is America's largest privately-owned company.
25. The Quandt family, Germany: $42.7 billion (£33bn)
Industrialist Günther Quandt established the firm that would become the BMW Group in the 1910s, and his descendants have managed to hold on to a controlling stake in the multinational automaker, which is the parent company of Rolls-Royce and Mini, and generates annual revenues of almost $100 billion ($77.2bn). Günther's grandson Stefan Quandt owns a 23.7% share, while his sister Suzanne Klatten controls 19.2% of the company.
24. The Wertheimer family, France: $45.6 billion (£35.2bn)
Together with his brother Paul, Pierre Wertheimer took over French make-up firm Bourjois in 1917 and went on to bankroll fashion designer Coco Chanel during the 1920s and 1930s in exchange for a 70% share of her company. Pierre's grandsons Alain and Gérard (pictured) still own the controlling interest in Chanel, which turns over almost $10 billion (£7.7bn) annually, and has been credited with revolutionising the way women dress.
23. The Bettencourt family, France: $48.2 billion (£37.2bn)
Françoise Bettencourt Meyers and her family inherited a 33% stake in global cosmetics leviathan L'Oréal in 2017 upon the death of her mother Liliane Bettencourt, and the 65-year-old author has since taken her mother's place as the richest woman in the world. The granddaughter of L'Oréal founder Eugéne Schueller, Bettencourt Meyers, who is pictured here with her sons Nicolas (left) and Jean-Victor, devotes her time to writing Bible commentaries and improving Jewish-Christian relations.
22. The Bloomberg family, USA: $48.5 billion (£37.5bn)
Michael Bloomberg founded his eponymous media, financial services and software firm in 1981 after cutting his teeth at New York securities brokerage Salomon Brothers. Now a major philanthropist who has given away $8 billion (£6.2bn) to date, the magnate was mayor of the Big Apple for three terms. He shares his billions with his daughters Georgina (left) and Emma, and partner Diana Taylor.
21. The Dumas family, France: $49.2 billion (£38bn)
The owners of French luxury goods firm Hermès, the Dumas family has an estimated combined fortune of $49.2 billion (£38bn). The clan's company was founded by patriarch Thierry Hermès in 1837 and started out as a Parisian harness workshop, before branching out into the high-end fashion and luxury goods business. Notable scions of the family include the late Jean-Louis Dumas, who transformed the firm into a global powerhouse, and Axel Dumas, the current CEO (pictured).
20. The Brin family, USA: $51.1 billion (£39.5bn)
Computer scientist Sergey Brin co-founded Google with Larry Page back in 1998, and is currently the president of the search engine's parent company Alphabet Inc. At the time of writing, his net worth stands at $51.1 billion (£39.5bn). Brin's ex-wife Anne Wojcicki, with whom he has two children, is the co-founder and CEO of personal genomics firm 23andMe, and is independently worth some $480 million (£370.8m).
19. The Ambani family, India: $52.3 billion (£40.4bn)
Indian tycoon Dhirubhai Ambani co-founded Reliance Industries in 1965 and transformed his Mumbai textile company into one of India's largest conglomerates. Upon his death in 2002, Ambani's son Mukesh took over as chairman, MD and majority shareholder. His brother Anil, who is worth $1.9 billion (£1.5bn), significantly less than his sibling, runs a separate family business called the Reliance Group.
Read Mukesh Ambani's story, from family feuds to hiring Beyoncé for his daughter's wedding
Read Mukesh Ambani's story, from family feuds to hiring Beyoncé for his daughter's wedding
18. The Page family, USA: $52.4 billion (£40.5bn)
Google's Larry Page is worth more than company co-founder Sergey Brin with his fortune currently pegged at $52.4 billion (£40.5bn). Page is the CEO of Alphabet Inc., for which he is paid a symbolic dollar per year. The computer science mastermind shares his wealth with his wife, biodmedical scientist and philanthropist Lucinda Southworth, along with their two children.
A $1 a year salary? Larry Page is one of a number of CEOs of huge companies who receive tiny salaries
A $1 a year salary? Larry Page is one of a number of CEOs of huge companies who receive tiny salaries
17. The Albrecht family, Germany: $58.2 billion (£45bn)
Late brothers Karl (pictured) and Theo Albrecht founded Aldi in 1946 in Essen. The supermarket chain split into two different entities in 1960, Aldi Nord and Aldi Süd, after the siblings disagreed over whether to stock cigarettes. Both groups went on to expand internationally, and Aldi Nord snapped up US chain Trader Joe's in 1979. The firm is now controlled by Karl's children Beate Heister and Karl Albrecht Jr., while Aldi Süd is owned by Theo's namesake son and the heirs of his brother Berthold.
Find out more about the incredible history of Aldi, the German supermarket taking over the world
Find out more about the incredible history of Aldi, the German supermarket taking over the world
16. The Chakri family, Thailand: $60 billion (£46.3bn)
The Chakri dynasty has been Thailand's ruling royal house for the past 237 years and continues to be treated with the utmost reverence in the country. The current King Maha Vajiralongkorn heads the family, which comprises 22 individuals. Together, the dynasty is thought to control around $60 billion (£43 billion) in assets through the Crown Property Bureau, including extensive tracts of valuable real estate in central Bangkok and owns a multitude of shares in luxury hotel group Kempinski.
15. The Ellison family, USA: $61.8 billion (£47.7bn)
The co-founder, executive chairman and CTO of the Oracle Corporation, New York City-born Larry Ellison is one of the world's richest tech entrepreneurs, a keen yachtsman, aviator and philanthropist. Both his children are prominent in the movie industry – Ellison's daughter Megan (pictured here at the Golden Globe Awards) is a producer who has worked on hit films including Zero Dark Thirty and American Hustle, while his son David is the founder and CEO of Skydance Media.
Read the life story of Larry Ellison, the maverick billionaire who wants to live forever
Read the life story of Larry Ellison, the maverick billionaire who wants to live forever
14. The Zuckerberg family, USA: $63 billion (£48.7bn)
Facebook co-founder Mark Zuckerberg is currently the seventh richest person on the planet, down from being the third wealthiest last year due to the dramatic fall in the share price of his social media behemoth. The Facebook billionaire shares his fortune with wife Priscilla Chan and their two daughters Max and August Zuckerberg, and is planning to give away a sizeable portion of it to charity.
Discover the staggering numbers behind Facebook's success
Discover the staggering numbers behind Facebook's success
13. The Slim family, Mexico: $64.9 billion (£48.7bn)
The richest person in the world from 2010 to 2013, Carlos Slim Helú, like Mark Zuckerberg, has slipped down the rankings somewhat, but still boasts a $64.9 billion (£48.7bn) net worth together with his large family. The Mexican tycoon, who made his fortune though conglomerate Grupo Carso, has a total of six children, including Carlos Slim Domit, who is the chairman of Grupo Carso, as well as its subsidiaries América Móvil and Telmex.
12. The Mars family, USA: $70.8 billion (£54.7bn)
When Forrest Mars Sr. died in 1991, the confectionery tycoon bequeathed Mars, Inc., the candy and pet foods empire his father founded in 1911, to his three children Jacqueline (pictured here with her granddaughters Graysen Airth and Katherine Burgstahler), Forrest Mars Jr. and John Mars. The Mars siblings have complete control over the company, which has a plethora of popular brands from Snickers and M&Ms to Uncle Ben's and Dolmio, and enormous annual revenues of $35 billion (£27bn).
11. The Ortega family, Spain: $71.5 billion (£55.2bn)
Fast-fashion retailer Amancio Ortega (pictured with his youngest daughter Marta) and his late ex-wife Rosalía Mera opened the first Zara store in 1975 in A Coruña in northwest Spain, initially calling it Zorba after 'Zorba the Greek'. The chain is now part of Ortega's Inditex group, which includes the Massimo Dutti, Bershka and Pull&Bear brands, and turns over $28.9 millon (£22.2bn) annually. The bulk of the family fortune is shared between Amancio and his eldest daughter Sandra Ortega Mera.
From poverty to a global fashion empire: read Amancio Ortega's incredible life story
From poverty to a global fashion empire: read Amancio Ortega's incredible life story
10. The Arnault family, France: $77 billion (£59.5bn)
France's Bernard Arnault and his family control luxury goods conglomerate LVMH, which was created by Arnault in 1987, and boasts some of the world's most prestigious brands, including Dior, Givenchy and Dom Pérignon. Taking an active role in the running of the group, Arnault is chairman and CEO. His daughter Delphine is director and executive vice president, son Antoine (left) heads LVMH companies Berluti and Loro Piana, while his youngest son Alexandre is CEO of Rimowa.
Read how Bernard Arnault built the world's largest fashion empire
Read how Bernard Arnault built the world's largest fashion empire
9. The Buffett family, USA: $85.7 billion (£66.2bn)
Genius investor Warren Buffett, who has been the chairman and largest shareholder of hugely-successful holding company Berkshire Hathaway since 1970, is currently the third richest person in the world. A signatory of the Giving Pledge, the so-called Oracle of Omaha, who along with his children lives relatively modestly, has promised to give away more than 99% of his wealth during his lifetime or at death.
8. The Gates family, USA: $96.6 billion (£74.6bn)
The co-founder of Microsoft, the world's second most valuable company, Bill Gates is the second richest person globally and, together with his wife Melinda, the planet's most deep-pocketed philanthropist. To date, the couple, who have three children, have given away more than $50 billion (£38.7bn) via the Bill and Melinda Gates Foundation, the charitable organisation they established in 2000 to eradicate hunger, extreme poverty and preventable disease.
7. The Koch family, USA: $100.6 billion (£77.7bn)
Fred C. Koch founded the game-changing oil refining company that became Koch Industries in 1940 and passed it to his four sons upon his death in 1967. Charles and David successfully sued their brothers Bill and Frederick for control of the firm during the 1980s and 1990s, and each own a 42% stake, giving them a net worth of $49.8 billion (£38.5bn) apiece. Bill (pictured left with his twin David; they have since healed the rift) and Frederick on the other hand are worth substantially less.
6. The Bezos family, USA: $135 billion (£103.8bn)
The richest person in America, Jeff Bezos has built up an immense fortune off the back of Amazon, his amazingly successful e-commerce, cloud computing and AI company, which was founded in 1994. Currently separated from his novelist wife MacKenzie, with whom he has four children, the self-made billionaire and his wife may soon enter the record books for undergoing the priciest divorce in history.
5. The Al Nayan family, Abu Dhabi: $150 billion (£115.3bn)
Deriving the bulk of its fortune from oil, the House of Nahyan has been the reigning royal family of Abu Dhabi since 1793. The clan counts 200 male members – the number of females is unknown. Head of the family Sheikh Khalifa bin Zayed Al Nahyan (pictured) is the leader of the UAE and chairs the Abu Dhabi Investment Authority, which manages $875 billion (£626.5bn) in assets, including Dubai's Burj Khalifa skyscraper, the world's tallest building.
4. The Walton family, USA: $168.3 billion (£129.3bn)
America's most-moneyed family, the Waltons control almost 50% of supermarket giant Walmart, the world's largest business by revenue with an annual turnover of $500.3 billion (£386.2bn). The fortune is shared between the living heirs of brothers Sam and James, who founded the unstoppable family company in Arkansas back in 1962. Major scions include Christy, Rob (pictured, left), Alice (centre) and Jim (right).
Learn more about the Waltons and the story behind Walmart's staggering success
Learn more about the Waltons and the story behind Walmart's staggering success
3. The Al Thani family, Qatar: $335 billion (£257.5bn)
The House of Thani has been the ruling family in Qatar since the mid-19th century. The clan, which is headed by the country's leader, Sheikh Tamim bin Hamad Al Thani, is said to number in the thousands, possibly around 7,000 or 8,000. The family controls the country's legendary $335 billion (£257.5bn) sovereign wealth fund, which has assets that include London's Shard skycraper and Harrods department store, and hefty stakes in famous firms like Volkswagen and Tiffany & Co.
Find out more about Qatar: the tiny but super-rich state buying up the world
Find out more about Qatar: the tiny but super-rich state buying up the world
2. The Al-Sabah family, Kuwait: $360 billion (£276.7bn)
Numbering some 1,000 members, the Al-Sabah dynasty has reigned over Kuwait for 267 years, and the head of the family is the nation's current emir, Sheikh Sabah IV Ahmad Al-Jaber Al-Sabah (pictured here with President Trump). In 1991, the clan's wealth, much of which is tied up in US stocks and shares, was estimated by Time magazine at a whopping $90 billion (£69.2bn), and experts suggest the fortune has more or less quadrupled since then.
1. The Saud family, Saudi Arabia: $1.4 trillion (£1.1trn)
The richest family in the world by a long shot, the royal House of Saud, which has ruled the country that bears its name since 1744, is estimated to be worth an absolutely eye-watering $1.4 trillion (£1.1trn). This almost unimaginable wealth is spread out among the gigantic family's 15,000 or so members, but a good chunk of the family fortune is held by the current King Salman, his controversial son Crown Prince Mohammad bin Salman (pictured here together), and their close relatives.
Discover more about the world's richest royal families
Discover more about the world's richest royal families
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World's Richest People Meet, Muse On How To Spread The Wealth
Talk of economic mobility and the wealth gap is hardly new. From the Occupy movement to President Obama's re-election campaign, income inequality has been in the spotlight for years.
Even so, the "inclusive capitalism" conference in London on Tuesday broke new ground. Not because of the conversation, but because of the people having it.
The 250 people from around the world invited to attend this one-day conference do not represent "the 99 percent," or even the 1 percent. It's more like a tiny fraction of the 1 percent.
"We have $30 trillion of assets under management in the room," says conference organizer Lynn Forester de Rothschild, who runs E.L. Rothschild, a major investment firm she and her husband, of the storied Rothschild banking family, founded in 2003.
That amount — $30 trillion — is roughly one-third of the total investable wealth in the world. If money is power, then this is the most powerful group of people ever to focus on income inequality.
"If this bulk of capital decides that they are going to invest in companies that aren't only thinking about the short-term profit," says Rothschild, "then we will see corporate behavior change."
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The titans of commerce and finance didn't necessarily fly to this meeting in London out of a sense of ethics or moral duty, though that may be a motivation for some. For many, says Rothschild, it's a sense of self-preservation. Capitalism appears to be under siege.
"It's true that the business of business is not to solve society's problems," she says. "But it is really dangerous for business when business is viewed as one of society's problems. And that is where we are today."
Prince Charles kicked off the morning's proceedings.
"What is so impressive about today's gathering is that every one of you, ladies and gentlemen, is so well-placed to take the kind of action needed to create a new form of inclusive capitalism," he told the conference.
Defining Inclusive Capitalism
That phrase, "inclusive capitalism," is deliberately broad. People talked about it as valuing long-term investment over short-term profits. Some mentioned environmental stewardship; others focused on treating workers well.
Christine Lagarde, who runs the International Monetary Fund, said it is a way to rebuild trust in the financial system.
"So the big question is, how can we restore and sustain trust?" she asked in her keynote speech. "First and foremost, by making sure that growth is more inclusive and that the rules of the road favor the many and not just the few."
She said this will be a hard slog, because there will be winners and losers, "and the likely losers are those who have the biggest voice, because they have the largest means."
Later in the day, the group heard speeches from former U.S. President Bill Clinton and Bank of England chief Mark Carney.
Critics suggest this may all be optics. The conference delegates didn't sign on to a specific action plan, or even publicly endorse a set of values.
"I suspect the return on investment in this conference is astonishingly low," says Scott Winship of the Manhattan Institute, a conservative-leaning think tank. "It sort of surprises me that you have a bunch of people in the investment community who view this as having a significant return on investment in some way, whether the return is in people patting them on the back and saying, 'Thanks for caring about us,' or in actual changes to policies."
Conference organizer Rothschild says there will be follow-up with all of the delegates, but she made a conscious decision not to ask for any commitments up front.
"Even for me," she says laughing, "I thought that would be a little pushy."
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