Forbes Unveils Its Inaugural Ranking Of The Top Family Businesses Featuring America’s Biggest Family Companies Driving Jobs, Growth And Generational Success
NEW YORK, NY – May 14th – Forbes unveiled the launch of its newest list, America‘s Largest Family Businesses, the definitive ranking of America’s biggest family firms by revenue, spotlighting those companies driving revenue and growth, while also expanding generational wealth and success. This list comes at a time when family businesses have become “the quiet engine driving the economy,” says Byron Trott, the legendary chairman and co-CEO of merchant bank BDT & MSD Partners, in an op-ed for Forbes published Wednesday. From grocery stores like Wegmans to hotels like Marriott and Hyatt and some of the most popular consumer products like M&Ms and Perdues chicken, family businesses span many different industries and are some of the leading companies within their respective spaces. Key Trends and Highlights Defining Inaugural Americas Top Family Business List:Most family businesses are still privately-owned: Of the 100 family businesses on Forbes ranking, roughly two-thirds (67) are still privately owned, while one-third (33) are publicly traded.Largest private family business: The largest private family business by revenue is $154 billion food and agriculture giant Cargill, with the descendants of founder William Wallace Cargill owning 88% of the company.Largest public family business: The biggest public family business is $713 billion