What do some of the richest families in the world have in common? They earned the bulk of their money by starting brands that reached worldwide success and recognition. Far from mom and pop shops, these family-owned businesses have been global household names for decades. The following famous family businesses were handed down from one generation to the next, and they are still family-owned today.
1. Dolce and Gabbana
The iconic fashion brand, Dolce and Gabbana, is beloved by celebrities and budding fashionistas alike. It is the epitome of classic Italian fashion, but its beginnings were humble.
Founded by Domenico Dolce and Stefano Gabbana, Dolce and Gabbana was born as a small fashion label that was showcased as part of the new talent group in Milan in 1985.
The brand was made famous by stars like Madonna, who favored its clothing and accessory lines since the early 1990’s. Now, the brand is still owned by the two fashion pioneers as well as their respective families.
2. Mars, Inc.
If you’ve ever enjoyed a pack of Skittles or a Milky Way bar, you ate the products of the largest confectionery conglomerate in the world. Mars Incorporated had its sweet beginnings over 100 years ago, with Franklin Mars as its founder.
Currently, the Mars Corporation is entirely family-owned, and it is the sixth-largest privately-owned business in the world.
3. Tyson Foods
Chicken products made by Tyson Foods line the shelves of the freezer aisle in most American grocery stores. However, this giant meat conglomerate began as a small family business during the Great Depression.
The company has its humble roots in Arkansas, where John W. Tyson moved in the 1940’s in search of a way to sustain his small family.
Now, this mammoth meat corporation provides about 20 percent of the nation’s meat, including beef, pork, and chicken. Its ownership was passed down through four generations of the Tyson family who still hold key decision-making seats at the boardroom table.
4. Dell
Dell is the third largest manufacturer and seller of personal computers throughout the world. However, just over three decades ago, the company was little more than the ambitious brainchild of a college student named Michael Dell.
Today, Dell and his family own 75 percent of the company stock, bringing them billions of dollars of revenue each year. Michael Dell enjoys a top spot among the richest men in the world.
5. BMW
Germany is home to many innovative car makers, but BMW is perhaps the nation’s richest and most recognizable brand.
Established by Günther Quandt in the 1910s, BMW started out as a small but mighty car manufacturer. It thrived through challenging economic eras such as World War II, and it amassed worldwide respect as a company that produces top-tier vehicles.
Today, many of the company’s shares are owned by Susanne Klatten, the founder’s granddaughter. The company wealth is spread throughout the Quandt family with an estimated combined worth of 43 billion dollars.
6. Berkshire Hathaway
Though most people are not intimately familiar with the name Berkshire Hathaway, they have most likely purchased or consumed several products made by its many brands. This major US conglomerate owns companies like Burger King, Geico, and Dairy Queen. Its principal investor and founder, Warren Buffett, is worth more than 100 billion dollars.
Buffett has famously given away much of his Berkshire Hathaway stock. Yet he is still a majority shareholder, and upon his passing, all of his shares will be disbursed into several family-owned foundations.
Keeping It in the Family
Have you ever thought of starting a family business?
Perhaps these world-famous family-owned brands will inspire you to tap into your inner entrepreneur. If not, whenever you have the chance to enjoy their products, you will remember the families who created them and still profit from them today.
About the author;
This article was written by guest author Main Mohsin.
