Family companies have made a considerable contribution in generating revenue and employment. Family companies make up one third of all companies in the S&P index. Many are outperforming their competitors as the have a long-term view of investment and inspire trust and commitment in their employees. Here are some top largest family companies.
Dr. Thomas Frist and his son started their hospital management company in the 1960s. So far, the company has developed quickly. HCA Holdings went public through a $3.8 billion IPO in 2011.
HCA Holdings runs over 100 ambulatory surgery centers, cancer treatment, and outpatient rehab centers.
Cargill was formerly as grain storage facility which was established in 1865. Since then, the ag industry super-giant has fashioned itself the preeminent business into agriculture.
Cargill is still a family-owned business. Gregory R. Page serves as CEO.
News Corp. was established in 1979 by Rupert Murdoch from the assets he inherited in 1952 following his father’s death. The company now is the world’s second largest media conglomerate in terms of revenue as of 2011.
Family Rupert Murdoch is still at the helm of the multinational media conglomerate.
The forerunner of Mars was a homemade candy shop. The shop owner, Frank C. Mars launched the Milky Way bar in 1923. The product quickly became popular to consumers. Thus, Mars had to hire a full-time staff. Now the company has over 65,000 employees around the world.
The Board of Directors of Mars is made up of Mars family members.
Bechtel Group is now ranked as the 5th largest privately owned company in the U.S. The company owns and operates power plants, water systems, oil refineries, and airports in several countries.
Warren Bechtel founded the company, and now his great-son, Riley Bechtel leads the company as CEO.
Carlson Companies was founded based on an idea to use stamps to drive customer loyalty. The company has expanded into the travel industry.
Marilyn Carlson-Nelson chairs the Board of Directors.
Koch Industries was founded by the Koch in the early 1940s. The family started with a new method to convert oil into gasoline. Charles and David Koch lead the company today.
Despite tough economy, the Ford family has retained control of a company rife with Americana. William Clay Ford, Jr., now chairs the board.
Wal-Mart was founded by Sam Walton in 1962. With success from running the store in Newport, Walton opened a new Ben Franklin franchise in Bentonville, Arkansas. He continued to open the first Wal-Mart Discount City store at 719 Walnut Ave.
Wal-Mart has 8,500 stores in 15 countries.
Family Business Succession Planning