As a new year gets going, data compiled from late 2024 is a reminder of who the richest family dynasties are.

The Arkansas-based Walton family in the US, descendants of retail sector entrepreneur Sam Walton, remain the world's richest family with net wealth amounting to $432.4 billion, according to an annual ranking by Bloomberg. 

The three-generation Walton family owns Walmart, the world's largest retailer by revenue, clocking up $648.1 billion in its most recent financial year. The family own about 46 per cent of the business, the news service said. In 2015, Greg Penner succeeded his father-in-law Rob Walton as chairman of the board.

In second place is the Al Nahayan family from the United Arab Emirates, with wealth at $323.9 billion and like the Waltons, a three-generation dynasty. Abu Dhabi ruler Sheikh Mohammed bin Zayed Al Nahyan is also president of the UAE, home to jurisdictions including Dubai and Abu Dhabi, and now important wealth management centers.

Such figures shed light on where the business center of gravity lies. Areas that have thrived in recent decades, such as retail, fashion, media, energy and foods, are ranked in the top 10. 

Third placed for wealth is eight-generation dynasty Al Thani, based in Qatar ($172.9 billion); fourth, from the world of fashion and luxury, is the Paris-based Hermès family ($170.6 billion); fifth is the three-generation Koch family, which owns a variety of business interests;, including energy production, sixth is the Saudi Arabia-based Al Saud family ($140 billion), with three generations; seventh is the Mars family, owner of the eponymous Mars Inc confectionary and pet care business and with a family wealth of $133.8 billion, spanning five generations; eighth is the Ambani family, owning India's Reliance Industries conglomerate and with a total wealth of $99.6 billion; ninth is the Wertheimer family ($88 billion), owner of Chanel, the fashion house based in France; and tenth is Canada's Thomson dynasty ($87.1 billion), owner of Thomson Reuters, the media and business information group. 

Bloomberg said the net worth figures are as of December 5, 2024. The ranking excludes first-generation fortunes and those fortunes controlled by a single heir (so someone such as business tycoon Elon Musk or Amazon's Jeff Bezos are not yet included). Clans whose source of wealth is too diffuse or opaque to be valued are also excluded, the study added.