The 21 biggest family-owned businesses in the world
AP Photo/April L. Brown
In a report on family businesses this month, Credit Suisse introduced the CS Global Family 900 universe- a database of the 920 largest family-owned companies in the world. Companies on the list are publicly-traded with market capitalization's of at least $1 billion, as well as family-owned stakes of at least 20 percent.
The 920 companies are found in 35 countries, with more than 64 percent coming from Emerging Asia.
"In more developed markets, we see more fragmented ownership and many families selling out over time as a general theme," Credit Suisse analysts noted. "Frequently quoted statistics from the Family Business Institute show that only one third of family-owned businesses last into a second generation of ownership, 12% to a third and just 3% to a fourth."
But some of these companies have been controlled by families for generations, and no family business comes without family troubles. Many of these companies have experienced very public feuds between relatives. And with transgressions ranging from bribery to doing business with Hitler, some have done things that they probably wouldn't do again.
Here's the list of the top 21 family-owned businesses from the CS Global Family 900 universe. Spoiler Alert: Walmart is only number three.