Biggest family businesses keep going strong

By: Trademagazin editor Date: 2023. 04. 21. 10:53

Family businesses are growing faster than the global economy – reveals the latest Global Family Business Index ranking by EY and the University of St. Gallen. On the Top 500 list of global family businesses we can find companies such as BMW, Roche, L’Oréal, Prada and SPAR. Compared with 2021, the firms on the list grew by 10%. The number one is Wal-Mart, owned by the American family Walton, with USD 573bn sales revenue.

Márton Paulovits, mergers and acquisitions director of EY:

“The average age of the managements of the biggest family businesses is 62 years, and less than 20% of companies are consciously preparing for a generation changes by putting a family member younger than 40 years in decision-maker position.” //

This article is available for reading in Trade magazin 2023/4.