Comcast and Wawa are among America’s largest family businesses by revenue, according to a new Forbes analysis.
At the top of the list of 100 companies — both publicly traded and privately held — is retail giant Walmart ($713 billion in annual sales), led by the Walton family.
The rankings, Forbes wrote, celebrate “companies that provide the foundation for much of the nation’s economy.”
Defining what counts as a family business is tricky, Forbes wrote, but almost all private companies on the list “are more than 50% owned by their founding families.”
For public companies, Forbes included businesses in which a family owns at least 10%, as well as those like Comcast that fall short of that threshold but where the family controls at least 33% of the votes.
Led by CEO Brian Roberts, Comcast, the Philadelphia-based telecommunications and entertainment company, ranked No. 5, with $124 billion in revenue. The Roberts family owns 1% of the company, according to Forbes.
» READ MORE: With ‘cable monopoly’ over, Comcast is chasing mobile users
Delaware County-based Wawa landed at No. 26. The privately held convenience store chain had $19 billion in revenue, Forbes reported. The Wood family owns 50% of the company, according to the news organization. Wawa has said its employees own more than 40%.
» READ MORE: Wawa has expanded far beyond Philly. But hometown fans still fuel the chain’s success
Other local companies on the list include King of Prussia-based Universal Health Services (No. 29), which is 28% owned by the Miller family and which operates hospitals and behavioral health sites. Camden-based canned soup maker The Campbell’s Company — which Forbes reported is 35% owned by the Dorrance family — ranked No. 50.
Vegetation management firm Asplundh Tree Expert, of Willow Grove, came in at No. 78. The Asplundh family owns 51% of the business, Forbes reported.