The latest EY and University of St. Gallen Family Business Index was recently published – and showed that the 500 largest family-run firms are growing faster than the global economy.
Focusing on Europe, Germany remained home to many of the world's largest family enterprises.
Here, we list the top 10 largest family businesses across the continent ranked by revenue.
10: Anheuser-Busch InBev SA
Ranking: 26 / 500
Responsible for more than 500 iconic brands, Anheuser-Busch Inbev is the largest beer company in the world.
AB InBev is the product of several historic mergers and assumed its current name in 2008 when InBev acquired Anheuser-Busch.
One of the firm's original brands, Leffe, was created in an abbey where Belgian monks would brew their own beer more than eight centuries ago.
09: CMA CGM S.A.
Ranking: 23 / 500
The CMA CGM Group was established in 1978 and now operates in more than 160 countries.
From humble family beginnings, the French container transportation and shipping specialist has gone on to become the third-largest company of its kind in the world.
As recently as this month, the firm was confirmed as the official partner for logistics solutions ahead of the Paris 2024 Olympic and Paralympic Games.
08: INA-Holding Schaeffler GmbH & Co. KG
Ranking: 21 / 500
Founded by German brothers back in 1946, the Schaeffler Group manufactures rolling bearings, plain bearings, linear systems and precision components for the automotive and aerospace industries.
While headquartered in Herzogenaurach, Germany, the company operates across the globe through its manufacturing, research and development facilities.
Schaeffler Group also owns the brands INA, FAG and LuK.
07: A.P. Møller – Mærsk Group
Ranking: 19 / 500
Founded in 1904 by Captain Peter Maersk Moller and his son, Arnold Peter Moller, Maersk held the crown of largest shipping company in the world from 1996 until 2022, when it was ousted by Mediterranean Shipping Company (MSC).
Today, the firm employs more than 80,000 people in 130 different countries.
At the time of writing, Maersk was set to report a strong financial performance for 2022.
06: Roche Holding AG (Roche Group)
Ranking: 16 / 500
Known simply as Roche to many, the Swiss multi-national healthcare company operates worldwide in the pharmaceuticals and diagnostics sectors.
By revenue, the firm is one of the biggest pharmaceutical developers in the world and a leading provider of cancer treatments.
Roche produces medicines for a substantial variety of disease areas, including oncology, immunology, infectious diseases, ophthalmology and neuroscience.
05: LVMH Moët Hennessy Louis Vuitton SA
Ranking: 15 / 500
LVMH operates across various business sectors including fashion, cosmetics, jewellery and wines – with a specialism in luxury goods.
As of December 2022, LVMH was the most valuable company in Europe according to the Euronext stock exchange, with a value of more than US$360bn.
Ranking: 14 / 500
Headquartered in Luxembourg City, ArcelorMittal was established in 2006 following the takeover of Arcelor by Mittal Steel.
Surpassed only by the China Baowu Group, the firm is the second-largest steel producer in the world, with an annual crude steel production of 88 million metric tonnes.
With a market value of US$25bn, the total value of ArcelorMittal's company assets is estimated to be around US$100bn.
03: Robert Bosch GmbH
Ranking: 11 / 500
Bosch is a name that has become synonymous with engineering and automotive innovation.
Operations at the firm are spread across four sectors: mobility, consumer goods, industrial technology, and energy and building technology.
Bosch is, in fact, 92% owned by a charitable institution called Robert Bosch Stiftung. Despite being funded by owning the vast majority of shares, the foundation is only involved in health and social causes unrelated to business decisions.
02: Bayerische Motoren Werke AG (BMW)
Ranking: 11 / 500
BMW was originally founded in 1916 as a manufacturer of aircraft engines during the First World War.
Founded in the Bavaria region of Germany, BMW remains headquartered in Munich, but produces vehicles in nations including the UK, the US, China, India, Brazil and South Africa.
01: Schwarz Group
Ranking: 4 / 500
Topping the list of most valuable family-run companies in Europe is the Schwarz Group.
Supermarkets are based in most European countries and the group is in the process of expanding in the US with the opening of several Lidl stores.
The Schwarz Group had revenue of US$158.1bn in the year to February 2022.