Top 10 Largest Family Businesses in the World
It's
no secret that family businesses have a tremendous impact on the global
economy and that they come in all shapes and sizes. In fact, many of
the largest companies in the world have a tradition of family-ownership.
Here, we have compiled a list of largest family businesses (by
revenue):
10. ArcelorMittal
The
world's largest steel manufacturer has been hit by falling demand in
recent years led by the slowdown in China's construction boom and soft
demand in developed markets. However, this year saw ArcelorMittal
post its first profits after years of losses, though analysts continue
to forcast a tough road ahead. The steel giant is also Luxembourg's
largest private employer.
9. Hyundai Motor
Family: Chung
Country: South Korea
Sector: Automotive
Revenue (2013): US$ 79.76 billion
Country: South Korea
Sector: Automotive
Revenue (2013): US$ 79.76 billion
The
world's fourth largest automaker had a mixed year, as a strong local
currency ate into profits despite a modest growth in sales. Investors
will be keen to see how Hyundai
competes with Japanese rivals benefiting from a devaluing yen after a
major scare this year when Hyundai sank a record $10 billion for a
prized piece of land in the prestigious Gangnam District in Seoul. The
cash rich company have stated its intentions to turn the land into its
new headquarters including a Hyundai-themed park.
8. BMW Group
Family: Quandt
Country: Germany
Sector: Automotive
Revenue (2013): US$ 100.97 billion
Country: Germany
Sector: Automotive
Revenue (2013): US$ 100.97 billion
2014 is set to be a big year for the German automaker after it posted record sales and profits in 2013. BMW
will look to maintain its lead in luxury vehicles as record sales in
China and upbeat SUV sales continue to buoy the company's prospects for
the future. The company's fortunes have also caused the ruling Quandt
family to become the wealthiest people in Germany in 2014.
7. SK Holdings
Family: Chey
Country: South Korea
Sector: Energy
Revenue (2013): US$ 102.12 billion
Country: South Korea
Sector: Energy
Revenue (2013): US$ 102.12 billion
SK Holdings
had a remarkably tough 3013, which saw Chairman Chey Tae Won sentenced
to four years in prison for embezzeling funds from SK companies to pay
for losses incurred from his investments in derivatives. The resulting
leadership vacuum have caused the company to post its worst consolidated
earnings in the fourth quarter of 3013. While performance have improved
in 2014, it remains to be seen how South Korea's 3rd largest
conglomerate will maintain momentum without the family leader.
6. Fiat S.p.A.
Family: Agnelli
Country: Italy
Sector: Automotive
Revenue (2013): US$ 109.62 billion
Country: Italy
Sector: Automotive
Revenue (2013): US$ 109.62 billion
Italy's largest automaker will no longer be known as Fiat S.p.A. as it completes its acquisition of Chrystler and rebrands itself as Fiat Chrystler Automobiles.
The controlling Agnelli family has secured nearly 50% voting rights
ahead of the debut of the newly merged company, tightening the family's
grip on the company and contrasting it with the Peugeot family, who were forced to relinquish control to gain much-needed investment for the French automaker.
5. Ford
Family: Ford
Country: United States
Sector: Automotive
Revenue (2013): US$ 146.91 billion
Country: United States
Sector: Automotive
Revenue (2013): US$ 146.91 billion
America's
second largest automaker posted one of the best years in its history in
2013 as strong North American sales expanded its market share and
increased revenue. All eyes are on the 2014 launch of its best selling
F-150 pickup, which was redesigned using lighter steel in order to raise
fuel efficiency. Surging sales in China are also expected to make up
for mixed performance in Europe, while North American sales will
continue to be the most important market for Ford.
4. Samsung Electronics
Family: Lee
Country: South Korea
Sector: Electronics
Revenue (2013): US$ 208.93 billion
Country: South Korea
Sector: Electronics
Revenue (2013): US$ 208.93 billion
2014 is set to be a rough year for Samsung Electronics
after a record-breaking 2013 in which the South Korean conglomerate
established itself as the leader in the global smartphone market. An
increasingly crowded market in developed economies combined with surging
Chinese rivals boasting cheap lineups mean that the company will post
falling profits for the foreseeable future.
3. Toyota Motor
Family: Toyota
Country: Japan
Sector: Automotive
Revenue (2013): US$ 256.45 billion
Country: Japan
Sector: Automotive
Revenue (2013): US$ 256.45 billion
Toyota
had a massive 2013, with huge profits and impressive earnings
solidifying its status as the Japan's largest automaker. The continued
weakening of the yen orchestrated by Prime Minister Shinzo Abe's
ambitious "Abenomics" program boosted Toyota's profits by 94% at one
point, and the company looks to benefit from this devaluation for the
coming years.
2. Volkswagen
Family: Piëch/Porsche
Country: Germany
Sector: Automotive
Revenue (2013): US$ 261.53 billion
Country: Germany
Sector: Automotive
Revenue (2013): US$ 261.53 billion
Germany's lagest automaker had a mixed year, as the acquisition of Porsche
did little to alleviate the struggling European auto sector. In fact,
sales of automobiles in Europe fell to its lowest level in twenty years,
as the region continues to fight economic doldrums. Things are looking
up in 2014 however, as China's sustained demand for luxury vehicles
buoys sales for Volkswagen's subsidiaries Audi and Bentley.
1. Wal-Mart
Family: Walton
Country: United States
Sector: Retail
Revenue (2013): US$ 476.29 billion
Country: United States
Sector: Retail
Revenue (2013): US$ 476.29 billion
Wal-Mart
holds the distinction of being not only the largest family business in
the world, but also the largest company in the world. The famed (and
often vilified) American retailer has experienced nearly two years of
declining traffic in their U.S. stores, and the company has lowered its
outlook this year due to increased health-care costs and higher
e-commerce spending. While overseas sales have been solid, the crucial
U.S. retail market looks to have another gloomy year, posing a challenge
for Wal-Mart and other retailers.
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