Net Worth: $12.5 Billion
Industry: Oil and Finance
Notable Member(s): James Howard Marshall II
Claim to Fame: Koch Industries
The Marshall family saw the beginning of their fortune in the oil business when James Howard II owned a large portion of the Great Northern Oil Company and decided to trade all of his shares for 15% of Koch Industries – an investment that would prove to be more profitable than he could have possibly imagined.
James Howard handed over 4% shares to two of his sons, and year after year of legal battles would ensue. In 1983, the Koch brothers took sole ownership and he bought his shares back from his sons – shares that are worth billions of dollars today. About a year before he passed away, James Howard infamously tied the knot with (then) 26-year old playmate, Anna Nicole Smith – a marriage that would cause serious tensions between his children and other family members. After his death, Anna Nicole obtained a large portion of the estate, a decision which the kids are still trying to have overturned.
The Lauders
Net Worth: $24.3
Notable Member(s): Estee Lauder, Leonard Lauder
Industry: Cosmetics
Claim to Fame: Estee Lauder, Clinique, MAC Estee
Lauder was a beautician who launched her very own cosmetics brand, with the help of her husband Joseph, back in 1946. Little did they know that the business would grow to be one of the most successful in the industry in the decades to come. At first, it was a small company that was built around a single product – one that Estee created with the assistance of her uncle, who happened to be a chemist. People absolutely loved the cream that she was selling, however, and over time they created more and more products. In 1953, an anti-aging dew that the company sold really took off.
But by the 1990s, Estee Lauder was a household name, and the family had a store in every major city in America. Then, the business even began to expand on an international basis until it was one of the biggest cosmetics brands in the world. Leonard Lauder took over for his mom and dad as head of the family business and stayed on as C.E.O until 1999. The cosmetics giant ultimately bought out several other big players in the business – including Clinique, MAC, and Bobbi Brown.
The (Other) Johnsons
Net Worth: $29 Billion
Industry: Finance
Notable Member(s): Abigail Johnson
Claim to Fame: Fidelity Investments
Fidelity began all the way back in 1946 and was launched by Edward C. Johnson II. In 1957, his son, Edward III came on board as an analyst. The company started researching technology and started providing consumers with the latest and greatest gadgets. In the ’70s, however, Fidelity launched its insurance sector, and the company soon became Fidelity Investments.
Abigail Johnson, the currently C.E.O of Fidelity, originally started in 1988, simply working as an analyst. She would work her way up and eventually; dad gave her the keys to the kingdom. She now works as both President and C.E.O of the company, which employs over 40,000 people across the globe. Forbes called her the 5th most powerful woman in the world. Today, the family controls an insane amount of assets that reach over $6 trillion. Abigail has accumulated a net worth of over $12 billion for her alone. The Johnson clan shares a fortune of nearly $30 billion. The family members own 49 percent of Fidelity Investments.
The Loves
Net Worth: $7 Billion
Industry: Truck stop and convenience stores
Notable Member(s): Judy and Tom Love
Claim to Fame: Love's Travel Stops & Country Stores
The Love family empire got its start back in 1964 when Judy and Tom and Love dropped their last $5,000 on a little abandoned fill station in a small town just north of Oklahoma City. Now, they’ve got gas stations all across the country, and a fortune of over $7 billion.
Anyone who has driven across America knows about Love’s, and it’s a favorite for truckers who do it on a regular basis. Not only does the chain offer gas-on-the-go, but it also offers a shower station, and often times a restaurant, like Dunkin’ Donuts, Bojangles, Burger King, Taco Bell or Mickey D’s. Not bad for a place that got its start for less than $10,000! Because of its affiliations with huge names in the fast food industry and its all-around convenience, Love’s continues to grow every day, buying out competitors regularly. As of 2017, they were said to have over 420 stores in 41 states. The Love family fortune has grown to a whopping $7 billion!
The Murdochs
Net Worth: $20.5 Billion
Notable Member(s): Rupert Murdoch
Industry: Media
Claim to Fame: Fox News
Rupert Murdoch and his family control an insane amount of the mainstream media, as he owns The Wall Street Journal, HarperCollins and (until recently) The 20th Century Fox Company. Murdoch immigrated to the United States from Australia in the ’70s and started expanding the business he’d created in his home country.
Murdoch’s 20+ billion empires grow more and more every day, as he owns stakes in, well…the majority of TV channels and even some streaming platforms. Yup, he actually holds the claim to 30 percent of Hulu. The media mogul is so huge that he’s been portrayed in numerous shows and films, including an episode of The Simpsons. In 2019, Murdoch sold Fox, which is a large umbrella that includes everything from football games to FX shows and movies. The lucky buyer? The Walt Disney Corporation, who shelled out billions of dollars for (most of) the rights. However, Rupert’s son Lachlan will stay on as chairman of the board and C.E.O.