Family businesses account for 57% of America’s GDP and 63% of our workforce. Here are 10 family-owned businesses that span generations.
Founder: Sam Walton
Sam Walton's son, Rob, was the chairman of Walmart from 1992 to 2015 and currently sits on the company's Board of Directors
Founder: Samuel Truett Cathy
S. Truett’s sons, Dan and Donald Cathy, currently serve as the CEO and executive vice president of Chick-fil-A.
CARNIVAL ( (CCL) - Get Report)
Founder: Ted Arison
His children, Micky and Sharon, still own a large stake in the company. Micky currently serves as chair of the board of directors
Founder: Arthur Perdue
Arthur's son, Frank, took over the business in 1950, and his grandson, Jim, currently serves as chairman and CEO
ESTEE LAUDER ( (EL) - Get Report)
Founders: Estée & Joseph Lauder
Estée and Joseph’s son Leonard currently serves as chairman emeritus, and both Leonard and Joseph’s children serve in executive roles within the company
Founder: Samuel C. Johnson
SC Johnson has remained in the family for five generations, and Herbert Fisk Johnson III currently serves as chairman and CEO
Founder: Fred C. Koch
One of Fred's sons, Charles, currently serves as chairman and CEO, while one of his other sons, David, served as executive vice president until 2018. In all, there are four sons, Charles, William, the late David, the late Frederick.
Founders: Tom and Judy Love
Tom Love still serves as the company’s executive chairman, and his sons, Frank and Greg, are co-CEOs
Founders: Theo and Karl Albrecht
After Theo Albrecht died in 2010, his sons Theo Jr. and Berthold inherited the family fortune. To this day, the family still owns 100% of the business.
FORD ( (F) - Get Report)
Founder: Henry Ford
Today the Ford family wields its influence through Class B super-voting stock that gives them 40% of the common stock vote.
“Coming together is the beginning. Keeping together is progress. Working together is a success.” –Henry Ford
Editor's note: this video has been updated to more accurately reflect the Koch family.