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The Extraordinary World of Century-Spanning Dynasties
What if I told you that some family businesses have survived longer than most civilizations? While the average company today lasts just 18 years, there are family enterprises that have weathered centuries of wars, economic crashes, and radical technological shifts. These aren’t just surviving – they’re thriving.
The secret lies in something most modern businesses completely overlook. The longevity of family businesses is a testament to their ability to adapt and evolve over time, while still maintaining the traditions and values that have made them successful. Key factors that have contributed to their survival include succession planning, family governance, transparency and communication, professionalization, separating ownership and management, flexibility, investing in the future, and preserving family traditions and values.
The Banking Dynasty That Predates Nations
Step into the world of C. Hoare & Co., and you’re entering a financial institution that has been serving customers since 1672. C. Hoare & Co. has been in business for more than three hundred years, and the family that founded it is still running the show. The London firm was started in 1672 by Richard Hoare and has tended to the affairs of diarist Samuel Pepys, poet Lord Byron and novelist Jane Austen. That’s almost a hundred years older than the famous Rothschild dynasty, which was founded in the 1760s.
What makes this even more remarkable is that after more than three centuries of continuous operation, the family still runs the show, overseeing about 4.4 billion pounds ($5.6 billion) of deposits and sticking to a traditional way of doing business. While other banks have chased short-term profits, the Hoare family has maintained their focus on personalized service and long-term relationships.
The Italian Firearms Empire That Survived 500 Years
When most people think about legacy, they think in terms of decades. The Beretta family thinks in terms of centuries. Founded in 1526, Beretta has armed everyone from Napoleon’s armies to modern law enforcement, all while staying within the same family for 15 generations. The company’s survival through the Renaissance, world wars, and modern political upheavals speaks to something deeper than just making good products.
The key to Beretta’s longevity isn’t just their craftsmanship—it’s their ability to adapt their business model while maintaining their core expertise. From military contracts to sporting goods, they’ve evolved with the times while never abandoning their fundamental identity as firearms manufacturers. The family has consistently invested in research and development, ensuring they stay at the forefront of their industry.
The Rothschild Legacy: From Five Brothers to Global Empire
In the late 18th century and early 19th century, Mayer Amschel Rothschild (1744–1812) rose to become one of Europe’s most powerful bankers in the Landgraviate of Hesse-Kassel in the Holy Roman Empire. In pursuit of expansion, he appointed his sons to start banking operations in the various capitals of Europe, including sending his third son, Nathan Mayer Rothschild (1777–1836), to England.
The Rothschild story is one of strategic expansion and family unity. According to historian Niall Ferguson in 1999, ‘For most of the nineteenth century, N M Rothschild was part of the biggest bank in the world which dominated the international bond market. For a contemporary equivalent, one has to imagine a merger between Merrill Lynch, Morgan Stanley, JP Morgan Chase & Co. and probably Goldman Sachs too—as well, perhaps, as the International Monetary Fund, given the nineteenth-century Rothschild’s role in stabilizing the finances of numerous governments.’
Today’s Rothschild empire continues to evolve. The two firms carrying the storied Rothschild name are the only remaining banks with links to the renowned family of financiers that emerged from Frankfurt’s Jewish ghetto more than two centuries ago to become one of the world’s richest and most powerful dynasties in the 19th century. After decades of operating in relatively different business areas, they’re now engaged in a turf battle for a bigger piece of the highly lucrative $250 trillion global wealth management industry.
Ford Motor Company: The American Industrial Dynasty
Henry Ford didn’t just build cars – he revolutionized how the world thinks about manufacturing and business. Henry Ford was 39 years old when he founded the Ford Motor Company, which became one of the world’s largest and most profitable companies. It has been in continuous family control for over 100 years, and is one of the largest family-controlled companies in the world.
One of the most impactful reasons for Ford’s early success was the way they manufactured their vehicles. In the early years, the Ford factory produced a handful of cars each day by assigning 2-3 men to work on a car at a time. The car was built from start to finish. This was the normal manufacturing process of other car companies at the time. By 1913, Henry Ford created a new approach to manufacturing by introducing the first moving automobile assembly line where cars would move down the assembly line.
The Ford family’s secret wasn’t just innovation—it was understanding that the Ford Motor Company gained a competitive advantage by increasing wages, reducing hours, and improving working conditions. This helped them secure the best talent and improved employee morale and productivity. This approach created a virtuous cycle of better workers, better products, and better profits.
Walmart: The Modern Retail Revolution
Sam Walton’s journey from a single store in Arkansas to the world’s largest retailer is perhaps the most remarkable family business story of the modern era. Walmart was established by Sam Walton and beginning as a small discount retailer in Rogers, Arkansas in 1962. This paper investigates how Walmart become popular and successful in retail business around the world and how they perform well in sales. This study found that some factors were leading to the success of Walmart. Since then, Walmart has become the most trusted retailer that creates value for business and society.
The Walton family’s secret was understanding that business success isn’t just about products – it’s about culture. Walmart’s success can be attributed, in part, to its emphasis on building a strong company culture. Sam Walton fostered an environment where employees were valued, empowered, and encouraged to contribute their unique perspectives. The team embraced a set of shared values, including respect for individuals, service to customers, and striving for excellence. This norming stage solidified Walmart’s identity as a customer-centric organization, where collaboration and a collective sense of purpose drove innovation and growth.
But perhaps most importantly, the secret to his success is rooted in the lessons of failure. One of Walton’s earliest strategies for success was to study intently what his competitors were doing. In Newport, his main competition came from John Dunham’s Sterling Store just across the street. Walton personally visit that store constantly learning from how he displayed his items, how he set his prices, and examined the things that were working and things that weren’t. Walton’s wife Helen would later attribute this tenacity in collecting information from his competition as one of the biggest factors to his success.
The Smucker Family: Sweet Success Through Generations
J.M. Smucker Company proves that family businesses can maintain their values while scaling globally. Founded in 1897, this food and beverage company has stayed true to its roots while expanding far beyond its original fruit preserves. Now in its 5th generation of family leadership, Smucker’s success demonstrates how traditional values can coexist with modern business practices.
The Smucker family has maintained their competitive edge by focusing on quality and brand integrity. Rather than chasing every market trend, they’ve built a portfolio of trusted brands that consumers rely on. Their approach shows that sometimes the best strategy is to do what you do best, but do it better than anyone else.
IKEA: The Swedish Furniture Empire
Ingvar Kamprad’s vision of affordable, functional furniture has transformed how the world furnishes their homes. Founded in 1943, IKEA represents a different model of family business – one that combines entrepreneurial vision with systematic global expansion. With revenues of $47.6 billion in 2023 and 231,000 employees worldwide, IKEA proves that family businesses can scale to massive proportions while maintaining their core identity.
The Kamprad family’s approach to business longevity involves creating systems that can outlast any individual. While the family remains heavily involved through foundations and strategic oversight, they’ve built an organization that can adapt and grow regardless of who’s in charge. This represents a new model for family business sustainability in the modern era.
SC Johnson: The Consumer Products Powerhouse
Since 1886, the Johnson family has built a consumer products empire that touches millions of lives daily through brands like Glade, Windex, and Raid. What makes SC Johnson remarkable isn’t just their longevity – it’s their ability to stay relevant in an increasingly competitive consumer market while maintaining private ownership across five generations.
The Johnson family’s secret lies in their commitment to research and development. They’ve consistently invested in understanding consumer needs and developing products that solve real problems. This customer-focused approach has allowed them to maintain market leadership even as retail landscapes shift dramatically.
The Japanese Masters of Longevity
No discussion of family business longevity would be complete without acknowledging the Japanese masters of the craft. A mix of the traditional and the non-traditional have enabled the astonishing longevity of Kongō Gumi, a Japanese temple-building company that was run by the same family for almost 1,500 years. Up until 2006, when it was sold to another firm, it was believed to have been the world’s oldest family business in operation.
That success can be partly attributed to its traditional way of building, with a reputation for high-quality craftsmanship, which helped them to win business and to retain skilled workers, and also to the traditional values, such as a strong work ethic, resilience and loyalty to the company. At the same time, Kongō Gumi could be flexible with other traditions – it wasn’t always the eldest son who took over, as was the norm, if it was felt he wasn’t suited to the role. Sometimes it was decided that a younger son should inherit the company, or even a daughter, at a time when that was uncommon.
The Japanese approach to family business longevity emphasizes craft mastery, employee loyalty, and flexible succession planning. These companies understand that tradition and innovation aren’t opposites – they’re complementary forces that drive long-term success.
The Secret Sauce: What Makes Family Businesses Survive
After studying these remarkable enterprises, patterns emerge that separate the survivors from the casualties. Family businesses that have a strong sense of purpose and shared values tend to be more successful over the long term. By staying focused on what is truly important to them, these businesses can preserve their heritage and mission, even as they face new challenges and changes.
The most successful family businesses share several critical characteristics: they maintain clear boundaries between family and business roles, they invest heavily in professional management, and they never stop adapting to changing market conditions. A well-planned succession process is crucial to the survival and success of family businesses. This includes developing a clear understanding of the roles and responsibilities of each family member, determining the best way to transfer ownership and management of the business, and preparing the next generation of leaders for their roles.
Perhaps most importantly, these businesses understand that building and maintaining a positive reputation for quality, reliability, and customer service is critical for any business, but especially for family businesses. Establishing a strong brand and cultivating a loyal customer base through word-of-mouth referrals and repeat business are key components of a successful family business.
The Flexibility Factor: Adapting Without Losing Identity
One of the most fascinating aspects of these enduring family businesses is their ability to reinvent themselves while maintaining their core identity. One of the secrets of Kongo Gumi’s 1,428-year run was its flexibility. For example, when the temple building business suffered during World War II, the company responded and switched to building coffins.
This flexibility isn’t just about changing products—it’s about understanding that markets evolve, but human needs remain constant. The most successful family businesses identify the deeper human need their company serves and then find new ways to meet that need as the world changes around them.
The Modern Challenge: Staying Relevant in a Digital World
Today’s family businesses face unprecedented challenges. Technology moves faster than ever, consumer preferences shift rapidly, and global competition is fierce. Nowadays, technology is greatly influencing different industries around the world. If the organization does not update the technology and enters the digital world, the business is difficult to continue. Digital transformation and automation processes affect all businesses. During the Covid-19 pandemic, e-commerce business or online ordering becomes the heart of the business. This clearly shows that the pandemic has accelerated the shift towards a more digital world.
The families that will create tomorrow’s multi-generational success stories are those learning to balance tradition with innovation, family values with professional management, and local roots with global reach. They understand that longevity isn’t about avoiding change – it’s about managing change while staying true to your core purpose.
The Power of Long-Term Thinking
Perhaps the greatest advantage family businesses have is their ability to think in generations rather than quarters. Over the generations, the owners have felt a strong sense of responsibility to ensure that the hotel continues to thrive and there is a successful business to pass on. For all relevant members of a family business to share the same vision and focus can be a tricky feat – one that takes long-term effort and foresight.
This long-term perspective allows family businesses to make investments that public companies might avoid, to weather storms that would sink others, and to build relationships that span decades. It’s this patient capital approach that gives family businesses their unique competitive advantage.
The Human Element: Why Relationships Matter
At the heart of every successful family business is a deep understanding that business is ultimately about human relationships. Family businesses that foster strong family bonds and relationships often enjoy greater success than those that don’t. Building and maintaining a positive reputation for quality, reliability, and customer service is critical for any business, but especially for family businesses.
These businesses understand that customers aren’t just transactions – they’re relationships to be nurtured across generations. Employees aren’t just resources—they’re partners in building something lasting. This human-centered approach creates loyalty that can’t be replicated by purely transactional businesses.
Conclusion: The Enduring Legacy
The family businesses that have survived centuries haven’t just been lucky – they’ve been strategic, adaptive, and deeply committed to something larger than short-term profit. They’ve understood that true success isn’t measured in quarterly results but in the ability to create value across generations.
These remarkable enterprises remind us that in a world obsessed with disruption and rapid change, there’s still tremendous value in stability, tradition, and long-term thinking. They prove that with the right approach, family businesses can be the most resilient and sustainable form of enterprise.
As we face an uncertain future, these timeless giants offer a blueprint for building businesses that don’t just survive—they thrive across centuries. The question isn’t whether family businesses can compete in the modern world – it’s whether the modern world can learn from their timeless wisdom.
What would you choose: the quick success that burns bright and fades, or the steady flame that burns for generations?
Besides founding Festivaltopia, Luca is the co founder of trib, an art and fashion collectiv you find on several regional events and online. Also he is part of the management board at HORiZONTE, a group travel provider in Germany.
