Do You Know Who the Richest Family in Minnesota is?
There are a lot of rich families out there, but have you ever wondered who the richest family in Minnesota is? Well, do not waste any more brain cells. I have the answer for you. The richest family in Minnesota is the Cargill-McMillan Family according to Family Minded. The site says that the families estimated worth is $42.3 billion dollars.
Money doesn't just grow on trees, so how did they come into a chunk of money like that? They worked hard and built a very successful business according to Forbes. They were able to become the richest family in Minnesota because of W W Cargill. He was the son of a Scottish sea captain that founded a small grain storage business in 1865. As the railroads took over the country and moved west, the company took off. Later down the road, W W Cargill's son-in-law John McMillan took over the company in 1909. The business has evolved since then into an agriculture business that helps so many farmers around the world.
The business continues to grow and evolve to this day. The Cargill website talks about how they keep up with the technology and trends of the agriculture world. As of now, the family is not as involved as they once were with the company. Currently, there are only six family members that sit on the 17 person Cargill's board. The family chooses to keep 80% of the companies net income within the business each year. Making it a profitable company that can continue to find success in what they do.
According to Forbes, the Cargill-McMillan family is the only family in the world to have 14 billionaires in the same family. That means that there are a lot of smart business-minded people in this family.
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