The Simmons Family – $5.4B
The Simmons family made its wealth essentially through corporate raiding and their wealth is new, starting with Harold Simmons, Sr., who formed his own capital company. Harold would buy out a corporation that is about to go under, strip it, turn it around, take the money which he earned, and then repeat the process. He usually went after smaller companies since they were better targets compared to a huge conglomerate. However, Simmons was a philanthropist as well, and the University of Texas’ Southwest Medical Center was one of those that received donations ($200 million) from him.
The Simmons Family – $5.4B
The Newhouse Family – $18.5B
Advance Publications, the family business was originally founded by Sam Newhouse, who died in 1979 and left the empire to his sons, Donald and Si. The two brothers have since taken the world of international media by storm as Advance Publications is now one of the world’s biggest magazine businesses. Conde Nast Publications is owned by the company and it publishes heavy-hitters, such as The New Yorker, Vanity Fair and Vogue. That’s not all, though, since the Newhouses also invested in Reddit, and they have a large stake in Discovery Communications.
The Newhouse Family – $18.5B