Despite a proliferation of security breaches and store closures, things appear to be looking up for the retail industry, at least for the people on top. This Monday, Forbes released its 2014 list of the world’s richest billionaires, which included more than nine leaders in the retail industry in the top 25. From the ubiquitous Walton family to the self-made grocer Karl Albrecht, these influential billionaires have made their mark on the retail scene—and have the buckets of money to prove it. Read on for the six richest names in retail, and discover what they were up to in 2013.
1. Amancio Ortega
Rank: 3
Net Worth: $64B
Notable Company: Inditex
Although he hasn’t been chairman of Zara parent company Inditex since 2011, Amancio Ortega still had a great 2013, increasing his fortune by $7 billion. His nearly 60% ownership of the company’s shares no doubt contributed to this revenue: Inditex is currently one of the world’s largest fashion retailers, with 6,249 stores in 86 markets. Perhaps Zara’s fast-fashion success will have more retailers adapting this style of business, emphasizing quick clothing turnaround over cost.
2. The Walton Family
Christy Walton & family (No. 9, $36.7 B); Jim Walton (No. 10, $34.7 B); Alice Walton (No. 13, $34.3 B); S. Robson Walton (No. 14, $34.2 B)
Notable Company: Wal-Mart
Christy Walton, widow of Wal-Mart heir John Walton, heads the list of retail's royal family, claiming the title of the world’s richest woman with a $466-million net worth boost last year. Ms. Walton’s brother-in-law, Jim, and sister-in-law, Alice, followed in the No. 10 and 13 spots, with Sam Walton's eldest son and Wal-Mart Chairman S. Robson Walton coming in at No. 14.
As heirs to the world’s largest retailer, each Walton benefited from the store’s nearly $470 billion in sales last year and 6% gain in shares. They are a diverse bunch, spreading their wealth across a variety of investments and special interests. S. Robson currently owns a $500-million stake in Hyatt Hotels, while Alice has helped finance a super-political action committee to raise funds for a potential 2016 Hillary Clinton run.
3. Stefan Persson
Rank: 12
Net Worth: $34.4B
Notable Company: H&M
After a billion-dollar dip in 2008, Stefan Persson’s personal wealth has been steadily climbing, helping him become Sweden’s richest resident. With a 38% equity stake in H&M, Persson—chairman of the company founded by his father in 1947—enjoyed a 25% surge of H&M’s stock price last year, along with some favorable PR. After a Bangladesh clothing factory fire killed 1,128 people in April, H&M was the first major retailer to sign an agreement to endorse more rigorous inspections and safety measures in the country’s factories.
4. Bernard Arnault & family
Rank: 15
Net Worth: $33.5B
Notable Company: LVHM
While enjoying a $4.5-billion increase in his fortune, Bernard Arnault still regressed five spots in this year’s billionaire list thanks to larger monetary gains by his competitors. As chairman and CEO of LVMH, Arnault oversees a vast business empire encompassing 60 luxury retail brands including Louis Vuitton, Fendi, and Sephora. And he intends to keep it a family affair: In 2013, he appointed his son Antoine chairman of Loro Piana, a cashmere clothier that LVMH purchased an 80% stake in earlier that year. His daughter, Dalphine, is also posed to become executive vice president at LVMH’s biggest brand, Louis Vuitton — a decision also announced last year.
5. Jeff Bezos
Rank: 18
Net Worth: $32B
Notable Company: Amazon.com
A 55% uptick in Amazon’s shares contributed to CEO Jeff Bezos’s $13 billion fortune increase in 2013. The founder of the online retailer mogul has also expanded his assets in the past year, acquiring the Washington Post for $260-million and announcing a drone-based package delivery program that could be functioning within five years.
6. Karl Albrecht
Rank: 23
Net Worth: $25B
Notable Company: Aldi Sud
Even though he’s been removed from the corporate side of Aldi Sud since 2002, the grocery retailer’s big plans to increase within the U.S. kept Karl Albrecht at a comfortable position on this year’s billionaires list. A self-made German business success, Albrecht took over the family corner store with his brother in 1946, expanding the company aggressively in both national and international markets since. This globalization paid off: Last year, the private business had an estimated $50.54 billion in revenue according to analysts, with 4,800 Aldi mini-market locations in nine countries.
Would you like to see more retail news like this in your inbox on a daily basis? Subscribe to our Retail Dive email newsletter! You may also want to read Retail Dive's look at the ups and downs of "compassionate consumerism".