2023 Top 10 Largest Family Office in the World
Which is the largest family office in the world in 2023? How much wealth are managed in the family office? Who founded the family office? Do the wealthiest billionaires have the largest family office? Which are the 10 largest family office in 2023?
- What is a Private Bank?
- What is Private Banking?
- Top 20 Common Misconceptions of Private Banking for HNW Clients
2023 Data:
- 2023 Top 10 Largest Family Office in the World
- 2023 List of International Private Banks in Hong Kong
- 2023 List of Boutique Private Banks in Hong Kong
- 2023 List of Regional Private Banks in Hong Kong
- 2023 List of International Private Banks in Singapore
- 2023 List of Boutique Private Banks in Singapore
- 2023 List of Regional Private Banks in Singapore
Private Bankers:
- What is a Private Banker?
- How do you become a Private Banker?
- Why 50% of Private Bankers quit in 21 months?
- 12 Reasons why most clients do not give Private Banker AUM within 6 months
- How do you survive as a Private Banker?
- How to succeed as a Private Banker?
- How do Private Bankers acquire new clients?
- How do you find the right Private Bank?
2023 Family Office & Billionaire Reports:
- Goldman Sachs Family Office Investment Insights Report 2023
- JP Morgan Private Bank Global Billionaires Study 2023
- Citi Global Family Office Insights 2023
- HSBC & Tsinghua University 2023 China Family Wealth Management Study
- UBS Billionaire Ambitions Report 2023
- UBS Global Family Office Report 2023
- BlackRock Global Family Office Report 2023
- KPMG Global Family Business Tax Monitor 2023 Report
2023 Wealth Reports:
- Citi Wealth Outlook 2024
- Citi Wealth Paper 2023
- UBS Global Wealth Report 2023
- EY Global Wealth Research Report 2023
- BCG Global Wealth Report 2023
- Capgemini World Wealth Report 2023
- Knight Frank Wealth Report Series 2023
- Knight Frank Wealth Report 2023
- Knight Frank Wealth Report Outlook 2023
- Altrata Billionaire Census 2023
- Altrata World UHNW Report 2023
- Forbes Rich List 2023
- Hurun Global Rich List 2023
More reports below:
Find out the 2023 top 10 largest family office in the world.
2023 Top 10 Largest Family Office in the World
1. Walton Enterprises – $230 Billion
Walton Enterprises is the family office of the Walton Family, founded by the late Sam Walton who founded Walmart. The family office serves the personal, philanthropic and business needs of the descendants of Sam & Helen Walton (wife). Walton Enterprises manages more than $230 billion of family assets. Sam Walton’s children Robson Walton, Jim Walton, Alice Walton & the late John Walton inherited the family wealth. Sam Walton’s children are one of the wealthiest billionaires in the world with more than $60 billion of personal fortune each.
Sam Walton (1918 – 1992) is the founder of Walmart (1962), which operates the largest chain of hypermarkets in United States and the world. In 2023, Walmart is the world’s largest company by revenue (>$611 billion) and employs more than 2.1 million employees.
- Founders: The late Sam & Helen Walton
- Key members: Robson Walton, Jim Walton, Alice Walton & the late John Walton family (Children of Sam Walton)
- Family Office: Walton Enterprises (1983)
- Family Office Assets: > $230 billion
- Location: United States
- Best known for: Walmart, Hypermarkets, Walton Family Foundation
- Websites: Walton Family Foundation, Walmart
2. Bezos Expeditions – $172 billion
Bezos Expeditions is the family office of Jeff Bezos, founder of Amazon. Bezos Expeditions manages more than $163 billion of family assets, with majority in Amazon shares. Jeff Bezos stepped down in 2021 as CEO of Amazon and was appointed as Executive Chairman of Amazon. In 2019, Jeff Bezos & MacKenzie Scott (wife) announced their divorce, with Jeff Bezos providing $38 billion in divorce settlement (including transferring 25% of his Amazon shares equivalent to 4% of Amazon shareholding). Jeff Bezos has an estimated personal fortune of more than $172 billion (2023). Amazon has a market capitalization of $1.59 trillion (19/12/23), with Jeff Bezos owning 9.56% (19/12/23: $152 billion). Jeff Bezos is active in investing, including investing in Washington Post, Airbnb, Business Insider, Twitter & Uber. Jeff Bezos had also founded aerospace company Blue Origin in 2000, Bezos Day One Fund ($2 billion non-profit to help families), and supports the Bezos Family Foundation co-founded by his mother (Jackie Bezos) and adoptive father (Miguel “Mike” Bezos).
Jeff Bezos is the founder of Amazon (1994), which operates the largest internet e-commerce and cloud services in the world, and is also the largest internet company by revenue ($513 billion) in the world (2023).
- Founder: Jeff Bezos
- Family Office: Bezos Expeditions (2005)
- Family Office Assets: > $172 billion
- Location: United States
- Best known for: Amazon, Cloud Services, Blue Origin, Washington Post
- Websites: Bezos Expeditions, Amazon Group, Amazon, Blue Origin
3. Excession LLC – $120 billion
Excession LLC is the family office of Elon Musk, CEO of Tesla & founder of SpaceX, and is managed by former Morgan Stanley Jared Birchall. Excession LLC manages more than $120 billion of family assets. Elon Musk has an estimated personal fortune of more than $250 billion (2023). Tesla has a market capitalization of $789 billion (19/12/23), with Elon Musk owning 12.95% which is valued at $102 billion. Elon Musk also founded SpaceX, The Boring Company (Tunnel), xAI (Artificial Intelligence), Neuralink (Brain Implant), and had acquired Solar City and X (formerly known as Twitter). Elon Musk made his first fortune of $178 million in 2002, after eBay acquired PayPal for $1.5 billion (Elon Musk is largest single PayPal shareholder with 11.72% shareholding). Elon Musk Space X has a private market valuation of $180 billion, The Boring Company with $7 billion valuation, and Neutralink with $2 billion valuation. In 2012, Elon Musk signed the “Giving Pledge”, where billionaires pledge to give majority of their wealth to philanthropy or charitable causes during their lifetimes or in their wills.
Elon Musk is the CEO of Tesla (Founded in 2003, acquired by Elon Musk in 2004), which is the largest electric car company in the world. In 2022, Tesla delivered 1.31 million electric cars and generated $81 billion revenue.
- Founder: Elon Musk
- Family Office: Excession LLC (2016)
- Family Office Assets: > $120 billion
- Location: United States
- Best known for: Tesla, SpaceX, The Boring Company, xAI, Neuralink, Solar City, X (formerly known as Twitter), PayPal
- Websites: Tesla, SpaceX, Excession LLC
4. Cascade Asset Management – $115 billion
Cascade Asset Management (Cascade Investment LLC) is the family office of Bill Gates, co-founder of Microsoft, managed by Michael Larson since 1994. Cascade Asset Management manages more than $115 billion of family assets including managing the assets of Bill & Melinda Gates Foundation (Trust) with $67 billion AUM (More than $59 billion donated by Bill & Melinda Gates to the foundation which distributed $7 billion grants in 2022). Bill Gates has an estimated personal fortune of $138 billion. In 2020, Bill Gates stepped down as Chairman of Microsoft. Microsoft has a market capitalization of $2.76 trillion (19/12/23), with Bill Gates owning 1.38% (19/12/23: $38 billion). In 2010, Bill Gates, Melinda (Bill’s wife) and Warren Buffet founded the “Giving Pledge”, where billionaires pledge to give majority of their wealth to philanthropy or charitable causes during their lifetimes or in their wills. AUM ~ Assets under Management
Bill Gates is the co-founder of Microsoft (1975), which is the largest personal computer & software company in the world. In 2022, Microsoft generated $198 billion in revenue.
- Founder: Bill Gates
- Family Office: Cascade Asset Management (1994), Cascade Investment (1995)
- Family Office Assets: > $115 billion
- Location: United States
- Best known for: Microsoft, Windows, Microsoft Office, Bill & Melinda Gates Foundation, Giving Pledge
- Websites: Cascade Asset Management, Microsoft, Bill & Melinda Gates Foundation, Giving Pledge
5. Lawrence Investments – $110 billion
Lawrence Investments is the family office of Larry Ellison, co-founder of Oracle (1977, Officially Oracle Systems Corporation in 1983). Lawrence Investments manages more than $110 billion of family assets through the Ellison Trust (Lawrence J. Ellison Revocable Trust U/D/D 12/8/95), and other holding vehicles including Mollusk Holdings, Cephalopod, Larry Ellison Foundation & Ellison Medical Foundation. Larry Ellison is the sole beneficiary and a co-trustee of the Ellison Trust, and Philip B. Simon is co-trustee of the Ellison Trust. The Ellison Trust was formed to hold the assets & estate of Larry Ellison. Larry Ellison has an estimated fortune of $130 billion. Oracle has a market capitalization of $290 billion (19/12/23), with Larry Ellison owning 41.82% (19/12/23: $132 billion). Larry Ellison also owns around 1.4% ($11 billion) of Tesla with market capitalization of $789 billion (19/12/23), and invested $1 billion (Lawrence J. Ellison Revocable Trust U/D/D 12/8/95) in 2022 to fund Elon Musk $44 billion acquisition of Twitter (X). Larry Ellison had been married & divorced 4 times (Adda Quinn, Nancy Wheeler Jenkins, Barbara Boothe, Melanie Craft), and has 2 children (David Ellison & Megan Ellison) with Barbara Boothe. Larry Ellison had signed the “Giving Pledge”, where billionaires pledge to give majority of their wealth to philanthropy or charitable causes during their lifetimes or in their wills.
” Many years ago, I put virtually all of my assets into a trust with the intent of giving away at least 95% of my wealth to charitable causes. I have already given hundreds of millions of dollars to medical research and education, and I will give billions more over time. Until now, I have done this giving quietly — because I have long believed that charitable giving is a personal and private matter. So why am I going public now? Warren Buffett personally asked me to write this letter because he said I would be “setting an example” and “influencing others” to give. I hope he’s right.” ~ Larry Ellison
Larry Ellison is the co-founder of Oracle (1977), which is one of the world’s largest software company with more than $42 billion revenue.
- Founder: Larry Ellison
- Family Office: Lawrence Investments (Ellison Trust ~ Lawrence J. Ellison Revocable Trust U/D/D 12/8/95), Mollusk Holdings, Cephalopod, Ellison Foundation
- Family Office Assets: > $110 billion
- Location: United States
- Best known for: Oracle, Sun Microsystems, Netsuite, Giving Pledge, Oracle Team USA (Yachting)
- Websites: Oracle, Oracle Team USA, Larry Elllison Foundation, Ellison Medical Foundation
6. Agache (Groupe Arnault) – $110 billion
Agache (formerly known as Groupe Arnault) is the family office of Bernard Arnault & family, Chairman & founder of LVMH. Agache manages more than $110 billion of family assets. Bernard Arnault has an estimated fortune of $180 billion. Bernard Arnault founded LVMH in 1987 through the merger of Louis Vuitton & Moet Hennessy. Earlier in 1984, he had acquired Christian Dior for 1 franc. LVMH has a market capitalization of $409 billion (19/12/23), with Arnault family owning 6.735% (19/12/23: $27.5 billion) and Christian Dior owning 41.52%. Christian Dior has a market capitalization of $140 billion (19/12/23), with Arnault family owning 97.5% (19/12/23: $136.5 billion). Bernard Arnault family combined shareholding of LVMH and Christian Dior has a total value of $164 billion. Bernard Arnault family key holding vehicles include Financière Agache, Pilinvest (Pilinvest Participations and Pilinvest Investissements), and Protectinvest (Trust in the form foundation to lock up shares for his children). Bernard Arnault first wife is Anne Dewavrin (divorce 1990) and 2nd wife is Helene Mercier. Bernard Arnault has 5 children – Antoine Arnault (eldest son) and Delphine Arnault (oldest child & daughter) by first wife Anne Dewavrin, and Alexander Arnault, Frederic Arnault & Jean Arnault by 2nd wife Helene Mercier.
Bernard Arnault is the co-founder of LVMH (1987), which is the largest luxury group in the world. LVMH manages leading luxury brands including Louis Vuitton, Moey Hennessy, Tiffany & Co, Christian Dior, Fendi, Givenchy, Loewe, Kenzo, Celine, Bulgari, TAG Heuer & Sephora. In 2022, LVMH generated $86 billion in revenue.
- Founder: Bernard Arnault
- Family Office: Agache (formerly known as Groupe Arnault, 1978)
- Family Office Assets: > $115 billion
- Location: United States
- Best known for: LVMH, Louis Vuitton, Moey Hennessy, Christian Dior
- Websites: LVMH, Financière Agache
7. Bayshore Global Management – $105 billion
Bayshore Global Management is the family office of Sergey Brin, co-founder of Google (Alphabet). Bayshore Global Management manages more than $100 billion of family assets. Sergey Brin has an estimated fortune of $109 billion. In 2019, Sergey Brin stepped down as President of Alphabet (Parent of Google). Alphabet has a market capitalization of $1.71 trillion (19/12/23), with Sergey Brin owning 6.42% of Alphabet Class A shares (19/12/23: $49.1 billion) and owning 41.1% of non-traded Class B shares which are held by founders & insiders with 10x voting power of Class A shares (19/12/23: $48.5 billion). Sergey Brin combined shareholding of Alphabet Class A & Class B has a total value of $97.6 billion. Sergey Brin first wife is Anne Wokcicki (2 children) and 2nd wife is Nichole Shanahan (1 child), and is divorced for both marriage.
Sergey Brin is the co-founder of Google (1998), which created the world’s leading search engine and is one of the world’s largest technology company. In 2022, Alphabet generated $282 billion in revenue.
- Founder: Sergey Brin
- Family Office: Bayshore Global Management (2006)
- Family Office Assets: > $105 billion
- Location: United States
- Best known for: Google, Search Engine, Alphabet
- Websites: Google, Alphabet
8. Téthys – $90 billion
Téthys is the family office of Francoise Bettencourt Meyers & family. Francoise Bettencourt Meyers is the granddaughter of Eugène Schueller, who founded L’Oréal in 1909. Téthys manages more than $90 billion of family assets. Francoise Bettencourt Meyers & family has an estimated fortune of $100 billion. L’Oréal has a market capitalization of $263 billion (19/12/23). The Bettencourt-Meyers family are the largest shareholder of L’Oréal with 34.65% shareholding valued at $96 billion (19/12/23). Francoise Bettencourt Meyers is the only heir of the late Liliane Bettencourt (only child & daughter of Eugène Schueller, funder of L’Oréal). Téthys is the holding company of the Bettencourt-Meyers family with Françoise Bettencourt Meyers as Chairman & Jean-Pierre Meyers (husband) as CEO. In 2016, Francoise Bettencourt Meyers and Jean-Pierre Meyers founded Téthys Invest to invest in entrepreneurial projects. Téthys Invest is managed by Alexandre Benais (CEO) and Cyrielle Villepelet (Managing Director).
Francoise Bettencourt Meyers is a Board Director and the 3rd generation heir of L’Oréal (1909), which is the world’s largest cosmetic company with brands including Maybelline, Garnier, Lancome, Giorgio Armani, Yves Saint Laurent, Ralph Lauren, Valentino, Diesel, Prada, shu uemura, Aesop & Redken. In 2022, L’Oréal generated $42 billion in revenue.
- Founder: Francoise Bettencourt Meyers, Jean-Pierre Meyers
- Family Office: Téthys, Tethys Invest (2016)
- Family Office Assets: > $90 billion
- Location: France
- Best known for: L’Oréal
- Websites: L’Oréal, Téthys, Téthys Invest
9. Mousse Partners – $80 billion
Mousse Partners is the family office of Alain Wertheimer & Gerard Wertheimer founded in 1991. Mousse Partners manages more than $80 billion of family assets. Alain Wertheimer & Gerard Wertheimer have an estimated fortune of more than $90 billion. Alain Wertheimer & Gerard Wertheimer are the grandchildren of Pierre Wertheimer, who co-founded Chanel perfume business (Parfums Chanel company) in 1924 with Coco Chanel (Founded 1910). Alain Wertheimer & Gerard Wertheimer are the 3rd generation owners of Chanel, inheriting from their father Jacques Wertheimer. Mousse Partners is managed by Charles Heilbronn (Chairman), half-brother of Alain Wertheimer & Gerard Wertheimer (whose mother is Eliane Fischer, ex-wife of Jacques Wertheimer). Mousse Investments founded in 1979, (formerly known as Litor Limited) is the main holding company for Alain Wertheimer & Gerard Wertheimer family & Chanel.
Alain Wertheimer (Chairman) & Gerard Wertheimer are the 3rd generation heirs of Chanel (1924), which is one of the world’s leading luxury fashion group. In 2022, Chanel generated $17.2 billion in revenue.
- Founder: Alain Wertheimer & Gerard Wertheimer
- Family Office: Mousse Partners, Mousse Investments
- Family Office Assets: > $80 billion
- Location: United States (1979, 1991)
- Best known for: Chanel, Coco Chanel, Parfums Chanel company
- Websites: Chanel, Mousse Partners, Mousse Investments
10. DFO Management (MSD Capital) – $70 billion
DFO Management (Dell Family Office Management, formerly MSD Capital) is the family office of Michael Dell, founder of Dell Technologies, managed by former Goldman Sachs Co-Head of Investment Banking Gregg Lemkau (Chairman), Marc Lisker (President), and Alisa Mall (Chief Investment Officer). DFO Management manages more than $70 billion of family assets. Michael Dell has an estimated fortune of $80 billion. Dell Technologies has a market capitalization of $52 billion (19/12/23), with Michael Dell owning more than 50% (19/12/23: $28.5 billion). Michael Dell had owned around 40% in VMware, which was sold to Broadcom for $69 billion and received $21.65 billion (50% in cash, 50% in shares, 22/11/23). Michael Dell wife is Susan Lieberman, and has 4 children. Michael Dell and his wife have a philanthropic foundation, the Michael & Susan Dell Foundation.
Michael Dell is the founder of Dell Technologies (1984), which is one of the world’s largest computer technology company with more than $101 billion revenue.
- Founder: Michael Dell
- Family Office: DFO Management (Restructured in 2022, formerly known as MSD Capital, 1998)
- Family Office Assets: > $60 billion
- Location: United States
- Best known for: Dell, Personal Computer
- Websites: Dell, MSD Capital, Michael and Susan Dell Foundation
2023 Top 10 Largest Family Office in the World – Table
| Ranking | Family Office | Assets | Founder | Known for |
| 1 | Walton Enterprises | $230 billion | Walton Family, Walmart | Walmart |
| 2 | Bezos Expeditions | $172 billion | Jeff Bezos | Amazon |
| 3 | Excession | $120 billion | Elon Musk | Tesla, SpaceX |
| 4 | Cascade Asset Management | $115 billion | Bill Gates | Microsoft |
| 5 | Lawrence Investments | $110 billion | Larry Ellison | Oracle |
| 6 | Agache (Groupe Arnault) | $110 billion | Bernard Arnault | LVMH |
| 7 | Bayshore Global Management | $105 billion | Sergey Brin | Google, Alphabet |
| 8 | Tethys | $90 billion | Francoise Bettencourt Meyers | L’Oreal |
| 9 | Mousse Partners | $80 billion | Alain Wertheimer & Gerard Wertheimer | Chanel |
| 10 | DFO Management (MSD Capital) | $70 billion | Michael Dell | Dell Technologies |
Source: Caproasia Institute
This is the 2023 top 10 largest family office in the world.
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