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BizVoice
/Indiana Chamber –
May/June 2012
F
amily businesses control a huge part of the economy.
In fact, around one-third of all companies in the S&P
500 index are family-controlled, and many are
outperforming their competitors.
Texas A&M University took a look at the S&P 500 for a
full business cycle and found that family-owned businesses
beat other firms in revenue and employment growth,
according to the
Small Business Review
.
A look at the top 10 (based on revenue):
Found elsewhere
All in the Family
Wal-Mart
Owned by:
Walton family
Headquarters:
Bentonville, Arkansas
Annual Revenues:
$421.85 billion
America has a love-hate relationship with Wal-Mart, but the
company continues to grow after its inception in 1962, which
coincided with the birth of discount retail as we know it today.
Founder Sam Walton’s son, Rob, steers the company as
chairman of the board of directors.
Ford Motor Co.
Owned by:
Ford family
Headquarters:
Dearborn, Michigan
Annual Revenues:
$128.95 billion
A tough economy nearly wrecked the auto industry, among others,
but through that – and the entire evolution of the automobile,
really – the Ford family has retained control of a company rife
with Americana. Three Fords sit on the board today.
Cargill
Owned by:
Cargill/MacMillan families
Headquarters:
Wayzata, Minnesota
Annual Revenues:
$107.88 billion
This ag industry super-giant was born as a grain storage facility
in 1865. Since then, Cargill has fashioned itself the pre-eminent
business in agriculture. Its current CEO, Gregory Page, is the
first in company history to not be from the Cargill or MacMillan
families.
Koch Industries
Owned by:
Koch family
Headquarters:
Wichita, Kansas
Annual Revenues:
$100 billion
The Kochs built a business in the early 1940s based on a new
method to convert oil into gasoline. Since then, Koch has
grown into an energy conglomerate with 50,000 employees.
Carlson Companies
Owned by:
Carlson family
Headquarters:
Minnetonka, Minnesota
Annual Revenues:
$38 billion
This multipurpose company started out in the 1930s with an idea
to use stamps to drive customer loyalty. Since the wild success
of that branding ploy, Carlson has extended its reach into the
travel industry, where it now focuses the bulk of its efforts.
Comcast
Owned by:
Roberts family
Headquarters:
Philadelphia, Pennsylvania
Annual Revenues:
$37.94 billion
Comcast’s founding family still has heavy influence, as the son of
its inaugural chairman took over his father’s post. It has focused
on acquiring media entities to build on the colossal conglomerate.
News Corp.
Owned by:
Murdoch family
Headquarters:
New York, New York
Annual Revenues:
$33.4 billion
Family patriarch Rupert Murdoch is still at the helm of the
multinational media conglomerate, which he founded in 1979.
The company has come under some serious fire amid a widely
reported phone-hacking scandal in the United Kingdom.
HCA Holdings
Owned by:
Frist family
Headquarters:
Nashville, Tennessee
Annual Revenues:
$31.5 billion
The hospital management company was formed in the 1960s.
Since then, it has seen a meteoric rise. When the company
sought to go public in 2011, it was touted as one of the biggest
public offerings in a long time. Two Frists sit on the board,
including former U.S. Sen. Bill Frist.
Bechtel Group
Owned by:
Bechtel family
Headquarters:
San Francisco, California
Annual Revenues:
$30.8 billion
Engineering and construction giant Bechtel Corporation helped
build the Hoover Dam, asserting itself as a high-powered
contractor. Riley Bechtel, the great-grandson of founder
Warren Bechtel, now leads the company as CEO. His father,
Stephen Bechtel, Jr., preceded him.
Mars
Owned by:
Mars family
Headquarters:
McLean, Virginia
Annual Revenues:
$30 billion
Frank C. Mars opened its earliest incarnation, a homemade candy
shop that operated out of his Washington home, in 1911.
After consumers went crazy for the Milky Way bar, launched
in 1923, Mars hired a full-time staff. Now, the company has
grown to have more than 65,000 employees worldwide.
Sources: Business Insider and
Family Business Magazine
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