Do you want to know which are the largest family-owned businesses in the world? Great! As we are here to present you with Insider Monkey’s latest compilation. Believe it or not, but family owned businesses can be really large, as large as Volkswagen for instance.
But which company is regarded to a family owned one? Well, the family should own at least 50% of the shares of the company – if it’s a private business. If it’s a public company, the family should own 32% to maintain control and decisions. Today we are going to read about the mammoth companies, that have – you will see – billions of dollars of revenue year by year. According to Insider Monkey’s research, there are 920 family owned business earning at least one billion dollars in revenue in the entire world. Actually the are from 35 countries and 64% of them are from Asia. 12% of family owned businesses went on to a third generation and only 4% of them was continued by the fourth generation.
And now, let’s see what we are here, let’s check out what Insider Monkey has investigated for you. We have picked up two companies from the list, as usual. At first, here is Tata Sons Private Limited, with its amazing numbers. The total revenue was $113 billion in 2019. The company also boasted with 722,281 employees in the same year. With being the largest conglomerates in India, Tata owns around 100 companies in several sectors and industries, such as consumer products, chemical, materials, information systems and energy. The company has a long standing tradition, as it was launched 150 years ago. Up on the list, we can find Berkshire Hathaway (NYSE:BRK.A). Its total revenue in 2019 was $254.6 billion, while it operated with 391.500 employees. By only revenue, Berkshire Hathaway is by far the largest financial company in the world. One of the riches men in the world is the leader of this company: Warren Buffet. If you want to get more information about these companies, and want to get to know which one hits the top, please jump to the largest family-owned businesses in the world.