Factors including abundant liquidity, rising stock markets, and favorable tax policies have contributed to the increase in the wealth of wealthy families. The total wealth of the richest 25 families in the world is $1.7 trillion, a 22% increase from last year. The Walton family from Arkansas, which owns nearly half of Walmart, tops the list for the fourth consecutive year with a net worth of $238.2 billion. The Walton family's wealth grew by $23 billion in the past 12 months, despite selling $6 billion worth of shares since February.
New names on the list include Dassault from France, a third-generation technology and aviation empire, and Estée Lauder, a New York-based cosmetics company. The Lee family, owners of Samsung in South Korea, has dropped from the list after paying $11 billion in inheritance tax following the death of the group's founder, Lee Kun-hee, in 2020.
While all listed families, except one, added to their wealth, the gains of luxury company families were particularly pronounced, with the Hermes family’s wealth rising by 75% to $111.6 billion. The increase in family fortunes underscores the widening wealth gap exacerbated by the pandemic. In the United States, President Biden and Congressional Democrats have proposed a large set of tax changes targeting the wealthy.
