These type of businesses collectively generate US$7.28 trillion in revenue and employ 24.1 million people.
Longevity and stability have mattered these past two years, according to the EY's report.
75% of family businesses are over 50 years old and almost one third are over 100 years old. They have balanced their long-term business outlook with an ability to pivot quickly amidst a crisis.
Some have also stepped forward to provide medical equipment and even financial support revealing an enduring sense of social responsibility.
Almost half of all the businesses in the Index are based in Europe. The United States is host to the highest number of family businesses, and consumer-based businesses remains the largest sector (37%) by number.
One in five have a family member under 40 years on the board and almost one third have a female family member on the board. As the demand rises for responses to issues like ESG, innovation, and future consumer needs so will the demand for talent and the need to embrace more age and gender diversity.
The Index has been published every two years since 2015. Use the interactive tool below to search the data based on jurisdictions and other key fields of information for the world’s 500 largest family businesses.
This is the top 20 businesses in the index.