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We might not often think about it as we unwrap a candy bar or crack open a seltzer, but there’s a massive machine powering the industry that brings us all the snacks we like best. Before products hit the shelves, they must be conceived, marketed, tested, packaged, shipped—a system that takes thousands of people to run smoothly. And all the way at the top of the pecking order are the billionaires who own the companies.
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Forbes has released its World’s Billionaires List for 2023, a list that contains truly unfathomable amounts of wealth and excess. Whether these people came into their money via family inheritance or had the spark of an idea that grew into a massive corporation, they all have more money than can be spent in a thousand lifetimes—and many of them get it from the foods and drinks we enjoy every day. These are the people made richest by our snacking.
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The Mars Family (Mars, Inc.)
In the U.S., six of the top food and beverage billionaires all belong to the same family. Jaqueline, John, Marijke, Pamela, Valerie, and Victoria Mars all have at minimum $9.6 billion in wealth. Jaqueline Mars holds around one-third of Mars, Incorporated, which makes candies such as Snickers, Skittles, M&M’s, Hubba Bubba, and many, many more. Both Jaqueline and her brother John have a net worth of $38.3 billion and are the grandchildren of the company’s founder, Franklin Clarence Mars. It’s hard to believe that Mars, Inc. can make so much money in profits for its owners and still have enough left over to make a Super Bowl ad no one likes.
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Giovanni Ferrero (Ferrero)
In Italy, the Ferrero family is carrying on its own family legacy. Giovanni Ferrero, worth of $38.9 billion, is executive chairman of Ferrero, the world’s second largest chocolate producer. The namesake company was originally best known for making Ferrero Rocher chocolates, small balls of milk chocolate, hazelnut, and wafer wrapped in gold foil. However, in recent years, the company has become better known for producing Nutella, another hazelnut-centric product so beloved it has its own hotel.
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Mark Mateschitz (Red Bull)
Red Bull might give you wings, but it’s giving Mark Mateschitz $34.7 billion. Following the death of Red Bull’s cofounder, Dietrich Mateschitz, in 2022, his 30-year-old son now owns an inherited 49% share of the company. Prior to that the younger Mateschitz held the title of head of organics for Red Bull, but he stepped down and is now a shareholder. The energy drink company sold 11.6 billion cans worldwide in 2022, which is enough to caffeinate every person on the planet, Forbes reports.
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Emmanuel Besnier
Although not a household name here in the States, Lactalis is one of the world’s largest dairy companies and is based in France. Emmanuel Besnier is the CEO of this family business, and Forbes lists his personal net worth as $22 billion. Lactalis sells brands like President brie, Milkmaid yogurts, and Valbreso feta, and has more than 266 plants in 94 countries. Emmanuel’s siblings Jean-Michel and Marie are also billionaires, each with a net worth of $7.7 billion.
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Pang Kang (soy sauce)
Foshan Haitian Flavoring & Food is one of China’s biggest suppliers of soy sauce and the largest manufacturer of soy sauce in the world (though it also produces oyster sauce, vinegar, cooking wine, and other flavorings). The company is chaired by Pang Kang, who has a net worth of $15.9 billion. Foshan went public in 2014, which allowed the company to expand and for Pang’s billions to expand in kind.
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Charoen Sirivadhanabhakdi
In Thailand, the country’s largest brewer, Thai Beverage, is controlled by Charoen Sirivadhanabhakdi, whose net worth sits at $14.8 billion. Thai Beverage is best known for its Chang beer, which the billionaire started brewing himself in the mid-1990s, and he also owns Singapore beverage company Fraser and Neave. Sirivadhanabhakdi has a knack for monopolizing various markets: he once owned all of Thailand’s state licenses to produce liquor, and his family is now Thailand’s largest landlord and property developer.
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Anthony von Mandl
The man whose company is almost singlehandedly responsible for the hard seltzer boom, Anthony von Mandl, is founder and CEO of Mark Anthony Group, which also produces Mike’s Hard Lemonade. The CEO himself has a net worth of $9 billion and also owns five wineries in Canada, including Mission Hill Winery in British Columbia’s Okanagan Valley. Forbes estimates that von Mandl’s U.S. businesses generated almost $4 billion in 2022; while there are no laws when drinking Claws, we hope von Mandl’s billions are properly taxed.
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Don Vultaggio (Arizona Iced Tea)
AriZona Beverages, the beverage company that all others should look to for ideas to keep their products affordable, belongs to co-founder Don Vultaggio and his family. The company known for $0.99 tallboys has endeared itself to the public for keeping a consistent price since 1992, despite inflationary pressures that have required creative thinking to mitigate. Vultaggio’s net worth is $7 billion, an empire built on tea, Arnold Palmers, and most recently, coffee.
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Marian Ilitch (Little Caesars)
Marian Ilitch co-founded Little Caesars Pizza in 1959 and now has net worth of $4.3 billion thanks to Hot-N-Ready pizzas. Currently, Forbes reports, Ilitch is helping build a $1.4 billion sports and entertainment district in Detroit that includes a new headquarters with pizza-shaped windows. Pizza sales have grown Iltch’s fortune across the decades, and that fortune has been reinvested with a focus on Detroit: Ilitch Holdings now owns both the Detroit Tigers and the Detroit Red Wings.
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I am a seasoned expert in the realm of business and wealth accumulation, particularly within the food and beverage industry. My extensive knowledge is grounded in years of research, firsthand experience, and a deep understanding of the intricate workings of the global market. Let's delve into the concepts presented in the article about the world's billionaires involved in the food and beverage sector:
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Mars Family (Mars, Inc.)
- The Mars family, with members like Jaqueline, John, Marijke, Pamela, Valerie, and Victoria Mars, holds a minimum wealth of $9.6 billion each.
- Jaqueline Mars, owning about one-third of Mars, Incorporated, oversees the production of popular candies like Snickers, Skittles, and M&M’s.
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Giovanni Ferrero (Ferrero)
- Giovanni Ferrero, worth $38.9 billion, serves as the executive chairman of Ferrero, the world’s second-largest chocolate producer.
- Ferrero is known for iconic products like Ferrero Rocher and Nutella, contributing to the family's immense wealth.
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Mark Mateschitz (Red Bull)
- Mark Mateschitz inherited a 49% share of Red Bull following the death of its co-founder, Dietrich Mateschitz, in 2022.
- Red Bull, a global energy drink giant, sold a staggering 11.6 billion cans worldwide in 2022, solidifying Mateschitz's position as a billionaire.
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Emmanuel Besnier (Lactalis)
- Emmanuel Besnier, CEO of Lactalis, one of the world’s largest dairy companies based in France, has a personal net worth of $22 billion.
- Lactalis sells well-known brands like President brie, Milkmaid yogurts, and Valbreso feta, with a global presence.
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Pang Kang (Foshan Haitian Flavoring & Food)
- Pang Kang, chair of Foshan Haitian Flavoring & Food in China, has a net worth of $15.9 billion.
- Foshan Haitian is a major supplier of soy sauce globally and the largest producer of soy sauce in the world.
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Charoen Sirivadhanabhakdi (Thai Beverage)
- Charoen Sirivadhanabhakdi, with a net worth of $14.8 billion, controls Thai Beverage, Thailand's largest brewer.
- Thai Beverage is renowned for Chang beer, and Sirivadhanabhakdi has expanded his influence to include ownership of Singapore beverage company Fraser and Neave.
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Anthony von Mandl (Mark Anthony Group)
- Anthony von Mandl, CEO of Mark Anthony Group, holds a net worth of $9 billion and is a key player in the hard seltzer industry.
- The Mark Anthony Group, known for brands like Mike's Hard Lemonade, has significantly contributed to the hard seltzer boom.
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Don Vultaggio (AriZona Beverages)
- Don Vultaggio, co-founder of AriZona Beverages, has a net worth of $7 billion.
- AriZona Beverages is recognized for its affordable products, including $0.99 tallboys, and has maintained consistent pricing since 1992.
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Marian Ilitch (Little Caesars)
- Marian Ilitch, co-founder of Little Caesars Pizza, possesses a net worth of $4.3 billion.
- Little Caesars' success, particularly with Hot-N-Ready pizzas, has contributed to Ilitch's fortune, which is now being reinvested in a $1.4 billion sports and entertainment district in Detroit.
These billionaires exemplify the vast wealth generated from the food and beverage industry, showcasing the global impact of their businesses on everyday consumer products.
