41. Sarah MacMillan

0
41. Sarah MacMillan

Net Worth: $2.2 B

LAST YEAR: $1.5 B
CHANGE: 47%
AGE: 68
RESIDENCE: Malibu
SOURCE OF WEALTH: Inheritance, food manufacturing/distribution, agriculture

THE MONEY: Sarah MacMillan holds an estimated 3% ownership in Cargill Inc., which she inherited from her father, William Duncan, in 2006. Cargill is the largest private company in the United States and the biggest food company on the planet. The business last year reported that it had 155,000 employees in 70 countries. The firm last year saw $134 billion in revenue, up 17% from $115 billion a year earlier with a record-setting $5 billion in profits, up 63% from 2020.

THE BUZZ: MacMillan and her three sisters — Lucy, Katherine, and Alexandra — are among 14 billionaire descendants of Cargill Inc. founder William Wallace Cargill. Along with other relatives, they control roughly 90% of the business, although MacMillan has no known involvement with the business’ operations. Cargill has seen profits soar based largely on global food inflation. According to Deloitte, between May 2020 and this February, the UN’s Food and Agriculture Food Price Index increased by 55%, led by a 158% rise in prices of edible oils, followed by strong growth in prices of sugar, dairy and cereals. Cargill is heavily invested in palm and vegetable oils, cereals, and crackers, and is one of the leading sugar marketers in the United States.

No posts to display