The Names That Built America’s Top Products
America has long been a nation of opportunity for family entrepreneurs; some have seen immense success. Let’s look at some of the most famous families behind today’s major brands.
When they think of family-owned businesses, most people call to mind small, mom-and-pop local stores. However, the US Chamber of Commerce estimates that there are 5.5 million family-owned businesses in the US, accounting for 57% of the American GDP.
Some family businesses see more success than others. This list will focus on the top most famous brands built by American families.
1. Ford Motor Company
Anyone who has stopped in at a Ford dealer to see the latest selection of American-made vehicles is already familiar with one of the nation’s top family brands. Henry Ford started the Ford Motor Company in Detroit in 1903, and his family has maintained significant control over the company since.
Even today, Ford’s great-grandson, William Clay Ford Jr., plays a vital role in running the company. The Ford brand is known worldwide and has become synonymous with quality autos and philanthropy through the Ford Foundation.
2. Walmart
The first Walmart in America opened its doors in 1962 in Bentonville, AR. Sam Walton was responsible for opening the store and contributing to its early success. When he passed away in 1992, he left 50% of the company’s equity to his family.
Since Sam Walton’s death, many Walton family members have worked at the company. Currently, Jim and Steuart Walton serve on the board of directors. The family’s Walmart shares are managed through the Walton Enterprise, a separate company established to manage the family fortune.
3. Comcast
Comcast is a telecommunications company founded by Ralph J. Roberts in 1963. Comcast is one of the largest internet service providers in America, and it simultaneously operates multiple TV stations and movie studios.
Currently, the Roberts family owns 33% of the company built by Ralph J. Roberts. His son Brian serves as chairman and CEO, and several family members play vital roles at Comcast to this day.
4. Carnival Corporation
A giant in the travel industry, Carnival Cruise Lines is operated by the Carnival Corporation. The Carnival Corporation was established in 1972 by a Boston-based travel industry professional named Ted Arison. At the time, it contained a single ship, the “Mardi Gras.”
Arison struggled to keep the company afloat for the first several years, but it has since become one of the world’s most popular and best-known cruise lines. Ted’s children, Micky and Sharon, currently own large stakes in Carnival, and Micky serves on the board of directors.
5. Chick-fil-A
Begun by S. Truett Cathy in 1946, Chick-fil-A is now the third-largest fast-food chain in America. Although there are only around 2,500 locations, Chick-fil-A’s sales numbers compete with other fast-food chains with three times as many restaurants.
Since S. Truett began Chick-fil-A, it has remained under the control of the Cathy family. Dan and Donald Cathy, S. Truett’s sons, serve as its CEO and executive vice president, respectively. The family continues to expand the business across the Southern states.
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