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This is the world's richest family! It is neither of Amazon's Jeff Bezos, nor of Microsoft's Bill Gates

Fadu News 2018-06-12 05:28:01

Although Amazon founder-Jeff Bezos is the richest person in the world and is followed by Microsoft founder- Bill Gates, the Bezos and Gates families are not the richest ones in the world. Interestingly, the Walton family topped the list of the richest people in the world, according to a report by Sunday Times' annual Rich List. The Walton family's total net wealth in 2018 has been totalled to be £128.9 billion ($174.9 billion)-courtesy their ownership of the retail behemoth 'Wal-Mart' and franchise Asda.

The list has been made by calculating net worth based on identifiable wealth, including land, property, other assets, such as art and racehorses, and shares in public companies. The calculation does not include bank accounts. Walmart is an Arkansas-based retail giant which had registered over $485 billion in revenue in 2017.

Walmart was founded by Sam Walton in 1962. Recently, Walmart acquired 77 per cent of India's homegrown e-commerce company Flipkart for $16 billion making it the biggest deal for the US retail giant. At second is David and Charles Koch family, who are worth £88.9 billion combined. The Kock Industries energy group is the second largest privately owned company.

Here are top 10 richest families in the world:

At the third position is Amazon CEO, Jeff Bezos who has wealth of £83 billion. The Bezos family is followed by Gates family with a net worth of £66.7 billion. At the fifth position is Buffet family with a total worth of £62.2 billion.