ONE of the wealthiest families in the United States has created some of the most delicious and popular American treats.
Sitting in the third spot of families with the most money in the country, the Mars clan has accrued around $94billion.
That is the family that created Mars Inc, a company known for iconic candies like Snickers, M&M’s, Twix, Mars Bars, and Milky Way, per Forbes.
Mars Inc also expanded to include gum, drinks, and pet care products in their sales, so it isn’t all candy-based.
However, the journey began with founder Frank Mars back in 1911, when he learned to hand-dip chocolates, per the South China Morning Post.
Frank soon began selling candy out of his kitchen in Tacoma, Washington, and gained some financial success before The Great Depression affected the nation from around 1929 to 1941.
After marrying his wife, Ethel, and having their son, Forrest Sr, the couple reportedly bought a $20,000 Duesenberg town car and occupied two vacation homes in Tennessee and Wisconsin.
The Tennessee location was even transformed into Milky Way Farms Racing Stables and opened to the public.
Nevertheless, the family continued its pursuits as a candy company and created the first chocolate nougat, which laid the foundation for Snickers and Milky Way chocolate bars.
Growth continued, and in 1929, Forrest Sr took his place in the company before he had a falling out with his father.
Forrest Sr was then given the Milky Way recipe, and he ventured to England to create his own company — where legendary candies like Mars Bars, M&M’s, Twix, and 3 Musketeers then truly began.
The ventures in other areas outside of candy began in 1934 when the company acquired Chappel Bros, a United Kingdom-based dog-food business.
That purchase has since grown considerably for Mars Inc, as they own major pet food brands like Pedigree, Whiskas, and Royal Canin.
Banfield and VCA, two of the largest private veterinary hospital chains in the United States, are also owned by Mars Inc.
In 1964, Forrest Sr moved back to America and merged his company with his father’s, and had three children, Jacqueline, John, and Forrest Jr, who all inherited a stake in Mars Inc.
Forrest Jr actively managed much of Mars Inc for some time before passing away in 2016.
Jacqueline and John co-own the company but aren’t actively involved in the company’s operations.
Despite this, their family shares are valued at $24billion each.
Forrest Jr’s four daughters, Victoria, Valerie, Pamela, and Marijke, have $6billion spread among them evenly through an eight percent stake.
The daughters reportedly serve on the board of directors for the company, but it’s Jacqueline’s son, Stephen Badger, who is the current chairman of Mars Inc.
Badger has explained intentions to make the company more transparent, as it was previously known to be private and full of “secrecy.”
“For most of our history, in fact, for 99 percent of our history, we’ve chosen not to be in the public eye and we’ve really wanted our brands to engage consumers. And yet times have changed,” Badger told SCMP.
In fact, the third wealthiest family in the United States has consistently kept their lives and wealth away from the media and publicity.
“The Mars company and the family that owns the candy giant have turned secrecy into a way of life,” wrote the Washingtonian in 2008.
Even so, Mars Inc allegedly gives back to the community tenfold through anonymous donations.
For example, the company is said to have donated $5 million to the Smithsonian National Museum of American History for necessary renovations along with a new gallery.
“The family has always believed that the biggest contribution toward the world we want tomorrow is through the good that Mars Inc. can do every day, and the family reinvests the vast majority of any profit made back into the company,” a company spokesperson told SCMP.
In 2020, Mars Inc also allegedly donated $26million for pandemic relief during the height of COVID-19 infections.
Only time will tell what happens with the $94billion family moving forward and if it will become less private in its ventures from what many have noted in the past.
For more related content, check out The U.S. Sun’s coverage of The Walton family — the richest in the whole country at a value of $240 billion.
