The International Day of Families. Families that Changed the world.

The International Day of Families is an occasion to celebrate the importance of families to people, societies and cultures around the world. ‏International Day of Families promotes the importance of a healthy and well-balanced family‏ Here is a short write-up on the families that have changed the world through business: Family business is the oldest and most common model of economic organizations. Some of the World's largest companies are run by families e.g. Walmart, Samsung and Foxconn to mention a few. Families such as the Rothschilds have proved that the bonds formed by strong family relationships can help accelerate the growth of family owned enterprises. Their family is believed to have possessed the largest fortune in modern world history. They even have their own coat of arms! They started as a father and 5 sons monopolizing the banking sectors in Austria, England, France, Frankfurt and later USA in the 1700's. They lent money to countries such as Britain, Japan and Brazil, they financed wars and determined the trading value of gold even till this day. They are reknowned for having 41 palaces of immense luxury immeasurable to those of the richest royal families all over the world. The Walmart family runs the Walmart retail stores that has become the world's largest retail store chain, accruing over 440 billion US Dollars in annual sales. Finally, Family businesses are the backbone of the American economy, 30% of companies in America are family-controlled and they contribute to 50% of the GDP and 60% of employments -Forbes. Hence, the family structure is important and should be treated with respect and utilized efficiently by those wishing to accumulate fortune to last for generations. United, we stand, stronger and richer.