World's Largest Companies

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2020: Ranking of the world's largest family companies

In mid-September 2021, EY and the University of St. Gallen presented an updated family business index. The top ten such companies included Dell. The list was compiled on the basis of company revenues for 2020.

According to researchers, the largest family companies are vital for the health of the global economy because their total income is $7.28 trillion, and 24.1 million people work. 75% of family companies are over 50 years old and almost a third, over 100 years old.

Rating of the largest family companies in the world according to the results of 2020

Almost half of all enterprises included in the index are based in Europe. The largest number of family companies is in the United States, and the largest sector of 37% by number remains the consumer business. One in five family members under the age of 40 is on the board of directors, and almost one third of the family members are women.

According to Josh Wei-Jun Hsue, associate professor at the Center for Family Business at the University of St. Gallen, as family and wealth grow over several generations, business becomes more complex. In turn, the family increasingly applies a portfolio and equity approach to managing a growing business.

The success of the family business is often explained by the exceptional efforts and vision of the first generation, and the next generation develops this legacy by following its own approach. In some cases, generations and generations of family members have played a role in business management for decades and even centuries. The oldest family business in the Index, Japanese corporation Takenaka, has been operating for more than 400 years. Meanwhile, more than half of the German enterprises included in the Index are over 100 years old.

Dell beat the German group of companies Robert Bosch in the ranking, and took 10th place in the ranking. Michael Dell, founded Dell in 1984 in the dormitory room of his college. As soon as the company turned out to be a profitable enterprise, Michael dropped out to fully focus on business. The company's success was achieved by improving delivery times, reducing costs and ensuring exceptional customer service.^[1][2]

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