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Forbes Daily Briefing

America’s Largest Family Businesses: Walmart, Wegmans, Wawa And 97 More

Forbes Daily Briefing

Forbes

Business, Tech News, News

4.418 Ratings

🗓️ 27 May 2026

⏱️ 6 minutes

🧾️ Download transcript

Summary

“At a time when much of the business conversation is defined by speed, scale and disruption, family businesses reflect a different model of success, one grounded in endurance, stewardship, resilience and trust,” says Byron Trott, the legendary chairman and co-CEO of merchant bank BDT & MSD Partners, in an essay for Forbes published Wednesday. “Their impact is often felt not only in revenues or valuations, but in livelihoods, institutions and the strength of local communities. That is why Forbes’ inaugural list of America’s top family businesses matters now,” says Trott, who has worked with companies founded and controlled by families with names like Koch, Pritzker, Mars and Cox.  There’s no doubt that America’s family businesses–including the 100 largest ones featured on Forbes’ new ranking–are what Trott calls “the quiet engine driving the economy.” They account for 25% of U.S. companies, 23% of the American workforce and 23% of private sector GDP, according to what four leading academics described in a recent paper as the “middle definition” of a family business. Family businesses are everywhere around us. The ones on Forbes’ list own grocery stores where we shop (Wegmans), hotels where we stay (Hyatt), newspapers that keep us informed (The Wall Street Journal) and cosmetics that keep us looking our best (Estee Lauder). They make some of the most popular brands in product categories like candy (M&Ms), chicken (Perdue) and concrete (Quikrete). And they’re based all over the country, in 31 different states, ranging from Arizona to Wisconsin to North Carolina. By Matt Durot, Forbes Staff and Andrea Murphy, Forbes Staff Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:00.0

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Visit medexpress.co.com.uk slash podcast to learn more. Today on Forbes, America's largest family

0:47.1

businesses, Walmart, Wegman's, Wawa, and 97 more. In mid-May, writing in an essay for Forbes, Byron Trott, the legendary chairman and co-CEO of

1:00.1

Merchant Bank, BDT, and MSD partners, said, quote, at a time when much of the business

1:06.2

conversation is defined by speed, scale, and disruption, family businesses reflect a different model of success,

1:13.7

one grounded in endurance, stewardship, resilience, and trust.

1:18.7

Their impact is often felt not only in revenues or valuations, but in livelihoods, institutions,

1:25.0

and the strength of local communities.

1:28.0

Trot, who has worked with companies founded and controlled by families with names like Coke, Pritzker,

1:33.8

Mars, and Cox, said, quote,

1:37.0

that is why Forbes's inaugural list of America's top family businesses matters now.

1:43.7

Indeed, there's no doubt that America's family businesses,

1:47.1

including the 100 largest ones, featured on Forbes's new ranking that was released in mid-May,

1:52.9

are what Trot calls, quote, the quiet engine driving the economy. They account for 25% of

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