The world’s biggest family businesses saw revenues and employee numbers fall in the latest Family Capital ranking of the top 750 in the world. The ranking revealed that total revenues for the top 750 fell to $10.31 trillion in 2020, from $10.36 trillion in 2019. Of course, the fall is likely to be predominately due to the COVID-19 pandemic, which hurt many businesses worldwide. See Below For The Top 750.
The pandemic also took its toll on employment across the globe, which was reflected in the fall in the number of employees among the top 750. Aggregate employment among the top 750 fell 7.4% to 31.2 million, compared with 33.6 million in our last survey.
Despite the overall fall in employment and revenues in 2020, there were some big differences in the regions, with revenues actually rising for family businesses in North America to $3.26 trillion in 2020, from $3.12 trillion in 2019. And European family businesses saw revenues rise to $3.93 trillion in the same time period.
“Family businesses have proven their agility and resilience during the crisis and recovered quickly,” says Peter Englisch, global family business and EMEA entrepreneurial and private business leader for PwC. “One important factor was their values and long-term commitment to keep their employees and manage customer relationships.”
But falls were recorded in the Asia-Pacific region, Latin America, and the Middle East – the latter saw revenues almost halve, to $47 billion from $85 million in the same time period.
Europe remains the biggest region for the share of family businesses in the world, comprising just over 43% of the top 750, with 325 based in the region. That’s up from 298 from last year’s survey. But the US has more family businesses in the top 750 with 161 and revenues of $2.9 trillion, followed by Germany with 103 and revenues of $1.7 trillion.
A breakdown of industrial grouping shows that the wider food sector (Food Products and Food & Staples) comprise the biggest proportion of the top family businesses, with an aggregate of 123 in those sectors. This is followed by Industrial Conglomerates, with 57, and Retail at 40.
Revenues by industry sector show a slightly different picture as the highest revenue were generated in the Food and Staples sector with $1.2 trillion, followed by Industrial Conglomerates and then Food Products. The Automobiles sector was in fourth place with aggregate revenues of $658 billion, but the sector only comprised 10 companies.
To qualify for the ranking, the family or group of families would have to control at least 50% of the voting shares in a privately held company and at least 30% of the voting rights in a publicly listed company.
Please click here for the full Methodology
The World’s Top 750 Family Businesses Ranking - 2022
|wdt_ID||Rank||Company||Owner||Shareholding||Founded||Country||Public/Private||Revenues $ m||Employees|
|1||1||Walmart Inc.||Walton||47.1||1962||United States||Public||559,151.0||2,300,000|
|2||2||Volkswagen AG||Porsche and Piech||53.3||1937||Germany||Public||284,544.5||672,789|
|3||3||Berkshire Hathaway Inc.||Buffet||37.3||1955||United States||Public||276,094.0||372,000|
|4||4||Schwarz Group (Lidl, Kaufland, SDL, SZD)||Schwarz||100.0||1930||Germany||Private||142,499.7||550,000|
|5||5||Ford Motor Co.||Ford||40.0||1903||United States||Public||136,341.0||183,000|
|6||6||Gunvor Group Ltd.||Törnqvist||88.4||2000||Switzerland||Private||135,000.0||1,500|
|7||7||Cargill, Inc.||Cargill and MacMillan||90.0||1865||United States||Private||134,426.0||155,000|
|9||9||Tata Sons Private Ltd.||Tata||66.0||1868||India||Private||128,000.0||935,000|
|10||10||Bayerische Motoren Werke AG (BMW)||Quandt and Klatten||46.7||1916||Germany||Public||126,508.6||118,909|
|Rank||Company||Owner||Shareholding||Founded||Country||Public/Private||Revenues $ m||Employees|