What would the world be without hearing about our heirs and socialites, such as the Paris Hilton‘s of the world? Sometimes these people are publicized so much that we often forget about the hundreds of heirs we barely hear a peep about. Yet many of the quiet heirs are claiming positions of power after being groomed by their business-savvy parents.
Many of the original businesses were founded so long ago, that the heirs are the grandchildren of the founders. It was difficult to narrow down our list, selecting some of the most interesting and least publicized. Check out this list and let us know how you would feel if you were one of these golden-spoon heirs.
13. Fidelity Investments – Abigail Johnson
Fidelity Investments was founded in 1948 by Edward Johnson II. In 2011, the company was rebranded as Fidelity Worldwide Investment, since its clients are global. Mutual funds and stock brokerage are its primary focuses and since its inception there has always been a Johnson at the helm.
Abigail, who is Edward II’s granddaughter, is the Chairman of Fidelity Worldwide Investment, Vice Chairman of Fidelity Management and Research and President of Fidelity Investments Personal and Workplace Investing. Her father, Edward Johnson III is currently the Chairman and CEO. The family still owns 49% of the company, at last report. Abigail’s net worth is estimated at $12.7 billion as of March 2013.
12. In and Out Burger – Lynsi Torres
Harry Snyder is the founder of the In and Out Burger chain that has gained a huge following since it opened in 1948. In fact, we’ve heard stories of cities begging for In and Out to open locations in their area. Lynsi Torres, is Snyder’s heir who is 31-years-old and the current owner and president of the companies, and according to Bloomberg, this makes her one of the youngest female billionaires in the world.
What makes Lynsi interesting is that she continues to expand the brand and is known for orchestrating store openings that have people lining up for hours.
11. LVMH – Antoine Arnault
Bernard Arnault is the French businessman who is responsible for helping create the luxury goods conglomerate, LVMH, and is worth $20.8 billion as of this year. Louis Vuitton, Moet Hennessy is what the acronym stands for, however the company owns more brands that you can imagine.
According to Bloomberg, son Antoine is being pitted against daughter, Delphine, as the possible successor to their father as CEO of the far-reaching luxury company. As of 2013, both children are working in various parts of the business.
10. Bloomberg – Emma and Georgina Bloomberg
Bloomberg has been a highly well-known and respected financial services, technology and media company. It was founded in 1981 by Michael Bloomberg with associates Thomas Secunda, Duncan MacMillan and Charles Zegar. Bloomberg’s net worth was estimated in 2013 at $31 billion.
Daughters, Emma and Georgina, have always been respectful, productive and successful. Emma has been involved in fighting poverty and Georgina – the younger daughter – has focused on no-kill animal shelters. Both women are also involved in other philanthropic efforts and stay under the radar.
9. Dell – Zachary and Alexa Dell
Michael Dell is the brains behind realizing factory direct computers would be less expensive for consumers than buying one through third party retailers. It was this concept that changed the computer industry and brought down prices. Dell is now one of the world’s leading personal computer providers. His net worth hovers around $15 billion at last count.
His daughter, Alexa, spilled a few family secrets on her Twitter feed and Instagram account. In an instant, the world knew the secret location of the family’s vacation spot. Her younger brother, Zachary, is like his father and follows in the entrepreneurial footsteps. He founded Thread, an online dating service for college students.
8. Mars Candy – Forrest Jr., John and Jacqueline
Forrest E. Mars has been one of the most unknown company founders of all. According to Fortune Magazine, Forrest cashed out of his father’s Mars, Inc. empire. He moved to England and developed the Mars bar. After returning to the US, he founded Food Products Manufacturing, which manufactured Uncle Ben’s Rice, Pedigree, M&Ms and more. When his father passed away, Forrest took over and merged the two businesses.
Today, Forrest Jr., John and Jacqueline have a hand in the family business. Forrest Jr., is a philanthropist who has donated $23 million to the Mars Education Center. John is the chairman of Mars, Inc. and Jacqueline is also still an owner but no involvement in day-to-day operations. All three heirs are very private and are rarely photographed, seen or interviewed.
7. Cox Enterprises – Anne Cox Chambers
James Cox founded Cox Enterprises in 1898 in Dayton, Ohio. The company owns a variety of media outlets including newspapers, Valpak (coupons), Kelley Blue Book, AutoTrader and of course, telecommunications. It all started when James purchased the Dayton Daily News.
Anne Cox is the surviving heir of James and although she is over 90-years-old at this time, she still has a majority interest in the privately-held enterprise. Her net worth was estimated at $12.5 billion in 2013. Anne follows her father’s interest in the Democratic party and contributes handsomely to various campaigns, such as Obama – according to an article in the Business Insider. Ann has two daughters and a son, who will most likely inherit her wealth.
6. Campbell’s Soup – John Dorrance III
John Thompson Dorrance was a chemist who developed a way to condense soup for later consumption. So he founded the Campbell’s Soup Company in 1869. The company is also responsible for making other brands, such as Pepperidge Farm and V8. He had six children with wife Ethel, and John Jr. ran the company after his father passed.
Well, John Dorrance III was one of the heirs of John Jr. and is reported to have sold his share of the family business in 1995-96 for around $1.5 billion. Here’s how the story goes, according to Forbes.com. Evidently John DIII renounced his U.S. citizenship and permanently moved to Ireland before selling his 10.5% stake. He reportedly moved before selling, so rumors are that he was trying to avoid capital gains taxes from the sale.
5. Estée Lauder – Aerin, Jane and William Lauder
Josephine Mentzer and Joseph Lauder founded Estée Lauder in 1906 as a cosmetics company. Josephine, who later became known as Estée, got started by helping her uncle with his beauty product business. She and Joseph had two children, Leonard – who worked in the business until around 1999 – and Ronald – and they had children.
Aeran, Jane and William all worked in the family business. William as the Executive Chairman, Aeran as the company’s senior vice president and creative director and Jane as the Global Brand President for Clinique. According to Business Insider, Aeran is now also the founder of her own accessory company – AERIN, founded in 2012.
4. Icahn – Brett Icahn
Billionaire investor Carl Icahn is the majority partner of Icahn Enterprises, formerly American Real Estate Partners. Icahn is a big player in the following industries: investment, automotive, gaming, home fashion, real estate and more. Carl started as a stockbroker and became widely known as being a formidable businessman and has an estimated net worth of $20.3 billion as of 2013.
Carl’s son, Brett, is now getting into the act. His father is teaching him the ropes and as of two years ago, Bloomberg reported that Carl gave Brett and associate, David Schechter, responsibility for accounts totaling around $3 billion to manage.
3. IBM – Olive Watson
Tom Watson, as president of CTR (Computing, Tabulating Recording Company), which was eventually renamed IBM after growing the company to $9 million (1924). IBMs history includes drama with the Third Reich and all the while the company continued its global reach. Watson and his wife Jeanette M. Kittredge had four children, Thomas Jr., Jane, Helen and Arthur and they had children.
One grandchild heir, Olive, spent 14 years together with her partner, Patricia Spado. According to a story in the Guardian, the women shared homes, money and a dog. Olive even adopted Patricia to ensure her partner would become a beneficiary, since same sex marriage was not legal. The couple broke up in 2007 and Ms Spado wanted to collect on her share of a trust set up for the IBM grandchildren so she took Olive to court, the result of which was not publicly revealed.
2. Ralph Lauren – Andrew, David and Dylan Lauren
Ralph Lauren was born in the Bronx, New York and started his career selling ties to his classmates in high school. He started college, but then dropped out and became a tie salesman. He started designing ties when he founded his own company and lucked out when Neiman Marcus bought 100 dozen in 1966-67. He built an empire, which includes everything from clothing to fragrances to house paint… and the rest is history.
Andrew, David and Dylan Lauren are the children and heirs of Ralph Lauren. Andrew has a degree from Brown U. and is giving Hollywood a whirl. Dylan is a Duke graduate and started her own candy company. She also owns Dylan’s Candy Bar which serves globally popular candy and cocktails such as Gummy Martinis. David is a Senior Vice President at Polo Ralph Lauren and is married to former President George W. Bush‘s niece, Lauren Bush.
1. Zara – Marta Ortega-Perez
Amancio Ortega founded the Zara retail store chain and built an international empire. His retail chain started as a mid-priced women’s apparel store that sold affordable fashions and has since expanded to menswear and home goods. The chain is so successful, Amancio is one of the richest people in the world and has a net worth of around $31 billion.
Marta Ortega-Perez is 30 years old and according to Business Insider, she is a working heir who is supposedly being groomed for her father’s position. Amancio’s not handing out titles, however, Marta had to start at the bottom by stocking shelves and handling customers. Marta is married to Sergio Alvarez Moya, who is an equestrian star.