Topline

Donald Trump Jr., the president's eldest son, held a private meeting with Indian billionaire Gautam Adani while visiting the country in November last year, as the billionaire faced federal fraud and bribery charges in the U.S.— dropped by the Trump administration last month—Bloomberg reported on Tuesday.

Key Facts

According to Bloomberg, the previously undisclosed meeting took place in Ahmedabad, in the Western Indian state of Gujarat, although the details of what was discussed are unknown.

A spokesperson for Trump Jr. cited by Bloomberg said the meeting had "zero to do" with the DOJ's decision to drop its federal case—brought by the Biden administration—against Adani.

Adani and his company have vehemently denied the federal charges, which were dropped last month following reports that the billionaire's lawyers offered to invest $10 billion in the U.S.

Citing an unnamed person close to the president's son, the report said Adani's younger son, Jeet Adani—who was involved in a push to end the federal case—met with Trump Jr. in Mar-a-Lago last year.

The unnamed source claimed the DOJ case was not discussed in either of the two meetings.

Tangent

Adani publicly praised Trump after his re-election, calling him the "embodiment of unbreakable tenacity, unshakeable grit, relentless determination," as he and his family were engaged in a major push to drop the charges brought against him by the Biden DOJ. According to the Wall Street Journal, Adani hired Boris Epshteyn, a key adviser and personal lawyer of President Donald Trump, to help with his defense. The report, however, noted that Epshteyn didn't attend meetings with prosecutors regarding the case, and his name didn't appear in Adani's legal filings. The billionaire's paperwork in the case was handled by the law firm Sullivan & Cromwell, which also represents the president.

Forbes Valuation

Adani's estimated net worth as of Tuesday morning is $88.6 billion, which makes him both the second-richest Indian and the second-richest Asian on the Real-Time Billionaires list, only behind Mukesh Ambani. His fortune has risen by nearly $8 billion since the DOJ dropped the case against him last month, despite turbulence in the Indian stock market amid the war in Iran. Earlier this month, Adani briefly became Asia's richest person, overtaking both Ambani and Softbank founder Masayoshi Son.

further reading

Billionaire Gautam Adani Met Donald Trump Jr. in India While Facing US Bribery Charges (Forbes)

Billionaire Gautam Adani's Fraud Charges Dropped By Justice Department (Forbes)

Gautam Adani's Net Worth Swells By $2 Billion—Becomes Asia's Richest Person (Forbes)

This article was originally published on Forbes.com

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When he took SpaceX public on June 11, 2026, Tesla magnate Elon Musk became the world's first trillionaire, according to estimates, and someday his voluminous heirs will likely top this list of the world's wealthiest families. For now, Musk will have to settle for merely being the world's richest living man, while his 14 known children count the days until their father's expansive portfolio experiences a rapid, unscheduled disassembly following the same inevitable death that comes for everyone, rich and poor alike.

Musk's ascent to the status of lone global trillionaire caps an extraordinary 18 months for the world's wealthiest individuals and families since President Trump's second term began, with rising stock markets seemingly defying gravity by way of the neverending AI investment boom and shrugging off the economic turbulence created by the joint U.S. and Israel war in Iran that began on February 28, 2026. That war at least temporarily concluded in mid-June with the signing of a Memorandum of Understanding between Tehran and the United States. Perhaps buoyed by word of that long-awaited development, the world's 500 richest people added $336 billion to their bottom lines on a single day, June 15, 2026, according to Bloomberg.

Not all families were so lucky, however. The economic uncertainty of the war took a toll on the economies of the Persian Gulf, and by extension, on the hereditary monarchical ruling families in the United Arab Emirates (UAE), Qatar and Saudi Arabia, all of whom rank among the ten richest in the world. Their plight is a bitter irony given that several regional states have long played host to U.S. military and naval bases on the assumption that Washington would ensure their territorial integrity and economic security. Neither their lavish military spending — Kuwait, Saudi Arabia and Qatar are all in the top 10 countries in the world in military spending per capita — nor their years spent creating close business ties to President Trump and his family were enough to buy them a seat at the table when the decision to begin the war against Iran was made. While there are no available estimates of the war's impact on the net worth of the Gulf ruling families, they may ultimately have shielded their portfolios by way of their expansive sovereign wealth funds and diversified investments that make them less dependent on the constant churn of oil and natural gas income.

Our list only looks at families where the wealth is already intergenerational; this means that we exclude, for example, the family of Meta CEO Mark Zuckerberg, given that his phenomenal riches have yet to be passed down to heirs. The economic boom driven by Silicon Valley entrepreneurs that began in the late 20th century created an entirely new class of moneyed elites, most of whom did not start out in life with anything like the riches they have now. Many of them, like Oracle founder Larry Ellison, are also still alive. As a consequence, this list is likely to evolve when individuals from the current cohort of elderly billionaires, like investor Warren Buffet, pass away and distribute their fortunes to their children and extended families.

The World's 10 Richest Families

Estimated net worth, in billions of dollars

The Walton family

521

The al-Nahyan family

335.9

The Al-Saud family

213.6

The Hermès family

184.5

The Koch family

149.5

The Mars family

148.2

The Ambani family

89.2

The Bettencourt Meyers family

92.1

The Wertheimer family

74.6

0150300450600

The Walton family ($521 billion)

Sam Walton opened his first discount variety store in Bentonville, Arkansas, in 1962 and turned it into a retail empire "by buying up low-cost goods and selling them at lower prices than his competitors," said Fox Business. Today, Walmart operates more than 10,500 stores in 19 countries, and Walton's heirs are worth $513.4 billion. There are now three Waltons — Jim, Rob and Alice — who are worth more than $100 billion each, and their largesse "largely stems from the Walmart shares given to them by their father," said Business Insider. One of the family's heiresses, Christy Walton, made waves when she "promoted a planned nationwide protest against President Trump by placing a full-page advertisement that ran in the New York Times" in June 2025, bucking a trend of the country's wealthiest elites seeking to curry favor with the president. She also took out a full page ad in The New York Times calling on President Trump to "release the reported 70% of people in Immigration and Customs Enforcement custody being held without a criminal record, in her latest public display opposing the Trump administration," said Forbes.

The al-Nahyan family ($335.9 billion)

The discovery of oil in the 1960s set off a "breathtaking transformation" of the United Arab Emirates from a society of subsistence "date farmers, camel herders and pearl fishermen" to one of the richest countries in the world, said The New York Times. The al-Nahyan family is the hereditary monarchy of the Emirate of Abu Dhabi, which has increased its natural resource wealth with its pioneering sovereign wealth fund, the Abu Dhabi Investment Authority (ADIA). Among many other endeavors, the ADIA purchased a stake in the city of Chicago's parking meters in 2008, and now the "revenue from these meters has reportedly reached over $150 million annually — all flowing to the investor group led in part by ADIA," said Driven Magazine. Adding to the good times is the fact that the United Arab Emirates "has become a hub for the Trump Organization's international expansion," said Forbes, and in 2025 alone the president and his family "entered into at least nine agreements with ties to the gulf nation — some involving government entities in the country, many stemming from business relationships developed there."

The Emirates, and the al-Nahyan family, have much at stake following the descent of the Persian Gulf into war in February 2026, having turned the country into a commercial, banking and aviation hub. In particular, attacks are undermining the country's position in the global economy and threatening its long-term growth, even if total revenue losses from exports have been modest. "Businesses linked to travel and hospitality in Dubai are reporting sharp declines in bookings, alongside cancellations and reduced footfall," said the BBC, threatening jobs and economic stability. The war "represented the most disruptive systemic shock to global aviation since the Covid-19 pandemic," said Newsweek, and operations in the Gulf had yet to return to normal as of late June 2026.

The Al-Saud family ($213.6 billion)

Perhaps the only family in the world with a country named after them, the Al-Saud dynasty completed their conquest of the Hejaz (now Saudi Arabia) in the 1920s. While this wasn't clear then, over the years Saudi Arabia would come to control "about 20-25% of all the world's oil reserves while producing about 10-15% of the world's daily oil consumption," said Epicenter. Because the "family contains as many as 15,000 extended members," it is challenging to "accurately assess the wealth of the House of Saud," said Investopedia. The Saudis also threw themselves into the movie business in 2025, and the country's "sovereign wealth fund now backs some of Hollywood's biggest deals, including a $24-billion financing package for Paramount's $78-billion Warner bid," said The Los Angeles Times.

Saudi Arabia, like many Gulf countries allied with the United States, has been subject to retaliatory attacks following President Trump's decision to launch a regime decapitation strike against Iran in 2026. Yet unlike some other countries in the Gulf, the country's total revenues are up since the war began, partly because leaders "invested years ago in oil pipelines that go around the strait, an expensive form of insurance that is paying off," said The New York Times. That might explain why the Saudis, unlike other Gulf royal families, reportedly urged President Trump to attack Iran in the first place. Crown Prince Mohammed bin Salman made "multiple private phone calls" to the president as part of a "weeks-long lobbying effort" to convince the U.S. to launch strikes on Iran, said The Washington Post.

The al-Thani family ($199.5 billion)

Another family of Gulf royalty has turned natural resource wealth into a multifaceted and growing portfolio. "No ruling dynasty in the Arab Gulf has played a seemingly weak hand with more skill" than the al-Thani family, said Manara Magazine. The country's diplomatic and investment strategies are all about "building Qatar into an international brand that can underpin its existence and the family's longevity," said Bloomberg. Former Qatari Emir Sheikh Hamad bin Khalifa al-Thani is a superyacht enthusiast who owns the Katara, a "$400 million mega yacht" that "comfortably accommodates up to 34 guests in 14 cabins serviced by 95 crew members," said the South China Morning Post. The family is so flush that Qatar "gave America a $200 million jet that could eventually be used as Air Force One" in May 2025, said Politico.

Iran has also targeted Qatar for retaliation following the Iran war outbreak, and severely damaged a major Liquid Natural Gas facility on March 18, 2026, with uncertain consequences for the country's economic future. Consequently, "about 17% of Qatar's LNG export capacity was knocked out by Iranian strikes, causing an estimated $20 billion in lost annual revenue," said Forbes, suggesting that the family fortune could now be considerably lower than $199.5 billion. The need to return to economic normalcy may help explain why Qatar reportedly worked with the U.S. on a plan "aimed at giving Iran access to the spending power of some of its estimated $100 billion in cash frozen worldwide" following the signing of the Memorandum of Understanding that ended the war, said The Wall Street Journal.

The Hermès family ($184.5 billion)

Thierry Hermès was the "sixth child of an innkeeper," said Vanity Fair, who "went to Paris an orphan, proved gifted in leatherwork and opened a shop in 1837." He and his descendants built a luxury fashion empire that has survived world wars, multiple French regime changes, and an era of globalization that has led to dizzying change and competition. The luxury brand's business model is the polar opposite of Walmart, which presumably would not have much luck selling scarves that cost $4,125 each. Sales remained strong in 2025 despite a price hike in the U.S. "aimed at passing on the burden of tariffs to its clients," said Reuters. While Hermes stock tumbled along with many other continental luxury brands when President Trump issued a threat of new tariffs against eight countries in the European Union in January 2026, they recovered when the president appeared to walk back his stance a few days later. You likely won't see beneficiaries of this vast fortune listed among the world's very richest people, though, given that the family's wealth is spread over more than 100 heirs.

The Koch family ($149.5 billion)

The Kochs began their ascent to the top of the global wealth hierarchy when Fred Koch "used his training in chemical engineering to develop an improved method of turning oil into petrol" and built oil refineries in Stalin's Soviet Union and Hitler's Germany, said the BBC. His son Charles was "groomed as Koch's successor, becoming president of the family business after his father died in the 1960s" and diversified the family's interests into "energy, chemicals, agriculture, finance and electronics, producing everything from toilet paper to steak." The Kochs spent more than $49 million in the 2024 election cycle, donating almost exclusively to Republicans and sending $40 million alone to the right-wing SuperPAC Americans for Prosperity Action. The New Civil Liberties Alliance (NCLA), a conservative group funded in part by Koch family money, filed a lawsuit against the Trump administration in April 2025 contesting the legality of the president's new tariff regime. When those tariffs were overturned in a landmark February 2026 Supreme Court decision, the NCLA indicated it was looking into challenging the legal basis of the Trump administration's next round of tariffs.

The Mars family ($148.2 billion)

You may never have heard of the Mars family, but you've almost certainly eaten its candy. The family's company, Mars Inc., based today in Virginia near the CIA's headquarters, "was founded in 1911 when Frank Mars started selling candy out of his kitchen in Tacoma, Washington," said Forbes. The family's vast confectionery empire includes Halloween staples like Snickers and M&Ms and operates 135 factories in 68 countries, employing more than 140,000 people. These bonbon barons do not enjoy the limelight and are known as a "reclusive dynasty of billionaires who spend a good deal of time on a remote ranch in Wyoming," said The Guardian. Amid the global upheaval over tariffs, the Mars empire was well-positioned to benefit from the Trump administration's changing, given that the company claims to "make 94% of its U.S. products locally," said Yahoo Finance. Still, the price of the company's Halloween-themed candy variety packs rose 12% in 2025, meaning that "working families will keep getting spooked at the checkout line," said The Century Foundation. The Mars family, however, will be just fine.

The Bettencourt Meyers Family ($92.1 billion)

Françoise Bettencourt Meyers is considered the wealthiest woman in the world and is the heiress to the fortune first amassed by the founder of cosmetics empire L'Oréal, Eugène Schueller. She plays a "pivotal role in preserving the family fortune" through her role as a L'Oréal board member and "serves as the chairwoman of the family's lucrative holding company, Téthys Invest," said Yahoo Finance. In recent years, L'Oréal has consolidated its control over the global cosmetics industry by acquiring competitors like the Australian luxury brand Aesop, hair care company Color Wow and cologne brand House of Creed, among many others. Bettencourt Meyers is "known to play the piano for several hours a day and has written two books — a five-volume study of the Bible and a genealogy of the Greek gods," said the BBC. She has two sons with her husband Jean-Pierre Meyers, Jean-Victor and Nicolas, and rarely engages with the press. In 2025, Jean-Victor Meyers succeeded his mother as vice chairman of the L'Oréal board of directors.

The Ambani family ($89.2 billion)

The Ambanis are the richest family in Asia, and their empire, which includes oil and gas, telecommunications and retail businesses, has a "valuation that is equivalent to 10% of India's Gross Domestic Product," said The Independent. It all started in 1958, when Dhirubhai Ambani launched a company based in Gujarat, India, that "began as a small firm trading commodities like spices and polyester yarn" and gradually expanded to make Reliance Industries a "global powerhouse," said People. Reliance Industries chairman Mukesh Ambani's wealth has taken a major hit in 2026, in large part from the conflict in Iran.

"Oil prices have been extremely volatile, moving with each of Trump's frequent statements on the war, making it difficult even for Asia's now second-richest man to stay ahead of the turbulence," said the Financial Times. According to the Bloomberg Billionaires Index, the Ambani family's wealth has declined by $18.5 billion this year alone.

The Ambanis, like the Gulf monarchical families, may have been especially blindsided given the way that they tried to cultivate close ties to the Trump administration. Reliance Industries ponied up $10 million in "development fees" to the Trump Organization in 2024 as part of a project in Mumbai and in March 2026 announced an enormous investment in America First Refining, in which Donald Trump, Jr. owns a stake. The "nine-figure investment" was part of a pattern of "overseas investors with interests before the administration putting money into the Trump family's business interests," said ProPublica. That deal happened to coincide with the Trump administration granting Reliance Industries a license to become one of the few entities allowed to buy oil from Venezuela.

The Wertheimer family ($74.6 billion)

In 1925, "Pierre Wertheimer, and his brother Paul struck a deal with Gabrielle 'Coco' Chanel" to create "Société des Parfums Chanel with the aim of selling and producing Chanel beauty products," said Business Insider. That history means that the Wertheimer family's "destiny has been intertwined with the world's second-largest luxury brand for a century," said Women's Wear Daily. The Wertheimers are oenophiles in an era of declining wine-drinking and have acquired a large luxury wine empire, including Domaine de l'Ile on the island of Porquerolles in Provence, as well as three estates in Bordeaux and St. Supéry Estate Vineyards and Winery in California's Napa Valley, said Wine Spectator.

Industry sources speculate that current Chanel owners Alain and Gérard Wertheimer are preparing to hand the reins to their 39-year-old nephew Arthur Heilbronn, who has "taken on management positions overseeing his and his relatives' real estate, banking and media investments" in recent years, said Business Standard. If so, that would be "another quiet move in a succession symphony that's decades in the making," said Yahoo Finance.