Net Worth: $14 Billion
Industry: Chemicals
Notable Member(s): Edward Breen
Claim to Fame: Monsanto
The Du Pont’s fortune has stemmed from a long, dark history filled with blood and terror. The family has funded numerous World Wars and was already the largest gunpowder supplier to the military in history when WW1 rolled around.
At one point, the government took the family to court, claiming they had a monopoly since they pretty much owned the entirety of the explosive industry. In turn, they created subsidiary companies and started to branch out into other types of businesses, like automotive and chemicals. They also started to infiltrate politics and remain deeply rooted in various areas of the government. The Du Pont corporation has been likened to Monsanto and is similar in many ways, including that they are king of the GMO corn and soy markets, owning more than 36% of each, they spend millions of dollars lobbying government, and they’ve manufactured Agent Orange and other devastating chemicals.
The Parasols
Net Worth: $1 Billion
Industry: Entertainment
Notable Member(s): Ruth Parasol
Claim to Fame: PartyGaming
You know those online casinos and gambling apps, where you can sign up and play for free, but then to really ramp up the stakes you can add and play with real money? Well, chances are if you’ve ever downloaded one of those apps, it had something to do with the Parasol family. PartyGaming is one of the biggest names in online gambling in the world. It’s the parent company to PartyPoker and several other online casinos, that rake in over $500 million every year. The site launched in 1997 and grew into a money machine within a couple of years. But all good things must come to an end…
In 2006, however, PartyGaming took a major hit when they were forced to pull out of the United States, due to the “Unlawful Internet Gambling Enforcement Act,” which caused their stocks to drop by nearly 60 percent. However, before all of the chaos happened, the company was the largest online gaming business on the market. Ruth Parasol was named as the 15th (self-made) richest woman by The Economist, and after the legal issues blew over, she founded a philanthropical organization that she dubbed The Parasol Foundation. In all, the foundation has gifted more than $25 million to different charities, including The Red Cross and MacMillan Cancer Support.
The Simmons’
Net Worth: $5.3 Billion
Industry: Finance
Notable Member(s): Dee Simmons
Claim to Fame: Contran Corp.
Harold Simmons built the family empire upon…well…other families empires. At one point, he owned a drug store and a bank before ultimately starting up an investment firm. He made the money to open his business by “corporate raiding,” which made him pretty feared around his area, and the country in general.
Simmons would keep his eye out for businesses that were being shut down that he thought he could turn a profit on. He’d buy them when they were at their lowest price point and turn them into profitable ventures – then, he’d rinse and repeat. Of course, he’d typically gut the companies in the process, so no one but him was typically happy if they heard Simmons bought the place. He was known as being pretty philanthropic and donated large sums to different causes – like the $200 million he gave to the University of Texas’ Medical Center. Simmons was also known for donating to the G.O.P. In fact, two of his daughters sued him for using the money he’d signed off as being theirs towards G.O.P related causes. Those two daughters ended up being written out of his will before his passing.
The Vultaggios
Net Worth: $3.2 Billion
Industry: Tea Notable
Member(s): Don Vultaggio
Claim to Fame: Arizona Iced Tea
Anyone that’s ever been on a road trip, or even commuted to work for more than 30 minutes or so – has got to be familiar with the tall, delicious sweet (or green) tea that you can grab from a convenience store cooler for 99 cents. Arizona tea is the king of all gas station beverages, and Don Vultaggio is the king of Arizona tea.
Vultaggio grew up with a typical working-class family in Brooklyn. His dad worked as a manager in a supermarket near their house. Perhaps that’s how he first decided he wanted to go into the iced tea business. He started selling cans of pop (and beer,) out of the back of his van as a teenager. In 1992, he and a friend invested in some canning equipment after they’d created their first batch of Arizona. Considering the fact that the product was a hit and the cans were decorative enough to draw in new customers – they flew off of the shelves. Now, Vultaggio’s company sells over 3 billion cans of product each year.
The Kohlers
Net Worth: $8.2 Billion
Industry: Plumbing
Notable Member(s): Herbert Kohler Jr.
Claim to Fame: The Kohler Company
Herb Kohler’s grandfather launched the family business in 1873, manufacturing farm tools and hitching posts for horses. Over time, the company evolved and expanded into selling a variety of different things, including fixtures for plumbing. Chances are if you’ve peed in a public bathroom, you’ve encountered something that’s owned by the Kohler’s.
Aside from manufacturing parts like tubs, sinks, and faucets, the Kohler company also produces electrical generators and all kinds of furniture. In Sheboygan, they recently offered employees a $1 dollar raise after displacing them from their department, which some had worked in for over 40 years. The annual income for the Kohler’s? $6 billion. The family has made Forbes billionaires list several years in a row and has been called one of the “most generous” families by Town and Country Magazine. The Kohler’s also happen to own a couple of resorts and golf clubs in the town named for them – Kohler, Wisconsin. Herb apparently loves to golf, and once appeared in a guest role on Open Range. Herb’s son David took the company reigns in 2005 and has been operating as C.E.O ever since.