Brainy Bloodlines: Families Who Are Conquering the Business World

There are many successful businesspeople in the world. But there are some businesspeople who go further than personal success. They inspire the future generations of their family to do the same. And this same formula for success is repeated over and over again.

This article is going to go into some of the brainy bloodlines that have managed to and are still conquering the business world.

The Mittal Family

ArcelorMittal is a company from Luxembourg. It’s the world’s largest steel manufacturer. In recent years, it has suffered a major slowdown due to the fall of the construction industry in China. With the collapse of the world economy in 2008, demand for steel has diminished.

But the company has posted profits in the last year, which means that Luxembourg’s biggest employer in the private sector is set to rise again. This is a company that has practically acquired a monopoly on this sector.

The Chung Family

You may not have heard of the Chung family, since they tend to stay out of the limelight. They are the owners of Hyundai Motor, the fourth largest maker of cars in the world. Recently, it’s suffered some losses due to the local currency, but there has been a significant growth in sales, in line with the rest of the car industry.

Investors are currently watching this organization closely because it’s about to enter into a major showdown with its Japanese rivals. The weakening of the Yen has allowed the Chung family to grow its business interests in the Far East.

The Quandt Family

The Quandt family is the family that owns the BMW Group. With a turnover of over $100 billion every year, this family has carried this company throughout the vast majority of the 20^th century. It’s only gone from strength to strength as time has gone on.

The future of BMW is bright. It’s making major moves into emerging markets like China, and it seems safe at the top of the list of German carmakers. According to the latest statistics, the Quandt family is now the richest in Germany.

The Chey Family

SK Holdings is the largest South Korean energy company run by the Chey family. It appears to have emerged from a scandal that saw the chairman sentenced to four years in jail for embezzlement of company funds. This leadership vacuum caused share prices to plummet, but performance has already begun to improve as their business reputation has recovered.

The 3^rd biggest corporation in South Korea is expected to gather momentum again, especially with the return of Chey Tae Won.

The Agnelli Family

The Agnelli family is an Italian company known for the Fiat brand. It recently acquired Chrysler, and the Agnelli family has 50% of the voting rights, thus giving it effective control of both companies. It has brought the Agnelli family to even greater prominence, and allowing it to tighten its grip on a significant part of the Italian car industry.

Conclusion

These five families are conquering the business world, demonstrating that momentum really can carry on through the generations. Which family do you think is one to watch?

Featured Photo Credits: David McEachan via Pexels