$70 Billion of Liquor Wealth is owned by Dynasties

Bloomberg reports that a whopping portion of wealth generated from liquor is overseen by dynasties controlling booze businesses. Some of the most prominent names in the industry include Saji and Torii, Bacardi and Ricard. These families have been raking in billions for the past years. Latest calculations show that the stakes owned by 7 of the top families in the industry equal to $70B. However, it seems that this kind of fortune does not come overnight.

Hundreds of years in business

According to Bloomberg, the highest earning families in the liquor industry are Saji and Torii from Japan, owners of the booze company Suntory. They are linked to brands such as Hibiki and Jim Beam. The Saji and Torii have been operating their business since 1899, making the company 120 years old. As of April 9, 2019, the value of the clans’ stake amounts to $22.2B.

The Saji and Torii families are followed by the Bacardis from Cuba, who controls the Bacardi company and is known to manufacture Bacardi and Martini. The family has been in business since 1862, with a stake value of $18.6B. This is followed by the Ricards from France who own Pernod Ricard. The company manufactures Jameson and Pernod and has been operating since 1805 with a value of $7.6B.

Other clans included in the 7 top earners in the sector include the Browns ($6.5 billion), the Garavoglia ($5.8B), the Beckmanns ($4.8B) and the Heriard Dubreuils ($3.6B).

Meanwhile, Investopedia’s global list of 10 wealthiest families includes Bernard Arnault & Family, which is known for their brands such as Louise Vuitton and Hennessey liquor. The family has an estimated wealth of $72.2B to $83.2B.

However, the liquor sector seems to be a difficult landscape to traverse as there have been family businesses that fell.