Net Worth: $100 Billion
Industry: Finance
Notable Member(s): David Koch
Claim to Fame: Georgia-Pacific
Today, the family business is run by two of Fred Koch’s sons – David and Charles – who you have probably simply heard referred to as, “The Koch Brothers.” The brothers may have been born incredibly wealthy, but their father still wanted to instill the value of hard work into them, so they worked throughout the time they were in school and still do today.
Fred was originally a chemical engineer who created an oil company at 27-years old, which would result in his 4 sons being born as billionaires. The Koch family business brings in an estimated $100 billion every year. Today, they are simply called, “Koch Industries.” As modest of a start as the company may have had, there is nothing modest about them today. The Koch family is the 2nd richest in America, with an estimated net worth of around $100 billion. Koch Industries is based out of Kansas and employs over 100,000 workers across the globe. It has become the second biggest private corporation in the country.
The Kibars
Net Worth: $2.9 Billion
Industry: Biotechnology, Finance
Notable Member(s): Osman Kibar
Claim to Fame: Samumed Osman
Kibar has been ranked as one of the richest Turks, and well, one of the richest people in the world, by Forbes. Kibar is the current CEO of Samumed, a biotech firm that creates pharmaceuticals for all different types of illnesses and disorders. The company, that specializes in anti-aging drugs, brought in $500 million recently from private investors.
Kibar founded his first company while he was enrolled in a Ph. D program at the University of California in San Diego. In fact, he founded an additional company at the same time as well, although since he was still busy with school, he didn’t play too much of an active role in either. But in 2008, Kibar founded Samumed – a move that would change the course of his life. The company was so successful that Pfizer bought it. However, they ultimately ended up in disagreement which caused the smaller company to branch off on its own. Now, that “little” company is worth over $12 billion.
The Kravis’
Net Worth: $5.5 Billion
Industry: Finance
Notable Member(s): Henry Kravis
Claim to Fame: Kohlberg Kravis Roberts & Co.
Henry Kravis launched his empire in 1976, with the help of his cousins, George Roberts, and Jerome Kohlberg. The men named their private equity firm “Kohlberg Kravis Roberts & Co,” and went on to become one of the best in the business.
In 1989, the company made one of the biggest in history (at the time,) when they bought grocery giant Nabisco for a whopping $25 billion. That’s a crazy amount of money no matter what decade, but especially for back in the ’80s. In fact, it was the single largest buyout in the history of America, when it went down. Over the years, the company made some good (Duracell,) and some bad (Toys “R” Us,”) investments. But the Kravis’ slowly and surely built themselves an empire that’s worth over $5 billion today. Henry Kravis donated $1 million to Donald Trump’s inauguration and sits as a board member on several councils, including the Council on Foreign Relations – one of the most powerful in the entire world.
The Coxs
Net Worth: $33 Billion
Industry: Entertainment
Notable Member(s): Anne Cox Chambers, James Cox Kennedy
Claim to Fame: Cox Enterprises
The Cox family fortune began to grow all the way back in the 1800s when James Cox bought the Dayton Evening News with $25,000 that he’d borrowed from his family and friends. Throughout the early 1900s, his success continued on and he bought several more media outlets, which slowly but surely formed into Cox Enterprises.
Today, the company is a conglomerate, based in Atlanta and employing over 50,000 employees around the world. Although they still specialize in media and communications, there are multiple branches of the business, including an automotive group which runs Kelley Blue Book and AutoTrader. In 1974, Cox Enterprises became female owned when James’ son, James Jr. died and his sisters, Barbara and Anne, ended up inheriting the company. Today, Anne’s grandson, Alexander, is in charge. The family business brings in annual revenue of over $20 billion each year.
The Duncans
Net Worth: $25 Billion
Industry: Gas and Oil
Notable Member(s): Dan Duncan
Claim to Fame: Enterprise Products Co.
Dan Duncan is a shining example of how to achieve the American dream. Near the end of his life, he was worth over $8 billion, but he started from the ground up – quite literally. Duncan grew up in Texas with a family who lived below the poverty line. His father worked the oil and gas fields and taught Dan everything he knew. His father passed away, and Duncan soon put all of his knowledge to good use.
Duncan served in the military and used his G.I bill to earn a degree in business from Massey College in his hometown of Houston. Afterward, he founded Enterprise products with only $10,000. Little did he know just how successful he would be in the oil business… Duncan passed on in 2010, leaving his sprawling estate behind to his four kids, Scott, Milane, Randa, and Dannine. In all, the family business is worth over $10 billion and brings in billions more each and every year. All of his children are now billionaires, themselves. As oil prices continue to rise, so do the Duncan family profits.