The World's Most Powerful Families

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In Fiddler on the Roof, the poor farmer sings ‘If I Were a Rich Man’. The original Yiddish phrase actually goes: ‘If I were a Rothschild’, a word synonymous with being extremely wealthy. The family’s fortunes started in the 18th century when Mayer Amschel Rothschild entered the banking business. Today, the Rothschild dynasty is a force to reckon with in the banking industry through its own companies (such as RIT Capital Partners) and shares in others – it holds a big chunk of the massive Glenncore and use to own mining giant Rio Tinto. Once the richest family in the world, several branches have been elevated to Austrian and British nobility. It’s the least these countries could do – the Rothschilds practically bankrolled Britain’s war against Napoleon. While the family has lessened its involvement with global banking, the gold price is still determined every day in the premises of a Rothschild-owned company in London.

 

This list may contain powerful families, but few can lay claim to having serious influence on both sides of the Atlantic ocean. Even fewer can claim to have worked their way back from the New World to the old. The Astors set the standard for this: they made their initial fortune in 18th century New York as traders in goods such as furs, but soon put their money to savvy use in buying real estate. This would eventually lead to the nickname ‘Landlords of Manhattan’. Apart from building several hotels and residential blocks, the Astors were also responsible for civic buildings such as the New York Public Library. In modern New York, their presence is obvious in the number of buildings, roads and suburbs named after them. The Astors expanded their influence to the UK, where Nancy Astor became the first woman to sit in the House of Commons. They have also been elevated to British royalty. Today the Astors have sold much of their property in New York, but they remain a dominant and powerful American dynasty.

 

India is known for its dynastic politics, in which families stay in charge of parties. The most potent example is the Nehru-Gandhi clan, which through its Indian National Congress Party has had a hand in the country’s workings ever since it became independent. Jawaharlal Gandhi was independent India’s first prime minister in 1947 and his lineage has controlled the INCP for five generations, leading to three more prime ministers, including India’s first female prime minister, Indira Gandhi. Today, Sonia Gandhi runs the INCP, which is back in charge of a parliamentary majority, but she has delegated the role of prime minister to someone else. Her son is also involved and recently became the youngest person to win a seat in India’s parliament. This clan is often thought to be related to the famous Indian liberator, Mahatma Gandhi, but he was only an exceptionally close family friend. Not that all is rosy – the INCP’s popularity is sliding, something analysts blame on the heavy reliance of a familial leadership.

 

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