translated from Spanish: Copec, Antarchile, Cencosud and Falabella, the family-owned companies that continue to accumulate wealth

500 of the world’s largest family businesses are increasing their wealth in the last 24 months. And there are several Chilean companies among them. This is based on a measurement by EY (former Ernst & Young) and the University of St. Gallen.
According to the ranking, four domestic companies climbed the steps:
These include four national companies that climbed steps: Copec Enterprises (Angelini family), Antarchile (Angelini family), Cencosud (Horst Paulmann) and Falabella (Solari Family and other branches). On the other hand, two local firms rolled back some steps in measurement: Quiñenco (Luksic Group) and CMPC (Matte Family).
According to the informed order remains like this:
Copec companies: 77 o (in the 82nd place during 2017) and with revenues of: US$ 20.5 billion.
Antarchile: 78o (ranked 81st during 2017) and with revenues of: US$ 20.480 million.
Cencosud: 93o (ranked 99th during 2017) and with revenues of: US$ 17,660 million.
A.C.I. Falabella: 127o (ranked 129th in 2017) and with revenues of: US$13,680 million.
Quiñenco: 261o (ranked 252nd in 2017) and with revenues of: US$ 6.610 million.
CMPC: 320 degrees (ranked 311th during 2017) and with revenues of: $5.28 billion.
In the rest of South America, only Brazil has a presence in the ranking with 12 companies such as Itaú Unibanco and JBS S.A. (food company).
Europe leads with 46% of the index companies, followed by 30% of family businesses located in North America. This index is led by Walmart, controlled by the Walton family and revenue of $485.870 million
On the other hand, family-owned enterprises in tech industries which grew increased their share from 28% in 2017 to 38% in 2019. This year, 68 firms operate in intelligent infrastructure (compared to only 35 in 2017) and 122 firms in the advanced manufacturing and mobility industries (up from 103 firms in 2017).
In contrast, the number of companies in financial services decreased by 34% (from 61 companies in 2017 to 40 companies in this year’s index) and also contracted consumer and retail products, which fell by 22% this year, although it is still number one as an economic sector within family businesses with nearly one in three of all companies in the index (31%).
“Family businesses are increasingly connected to technology and innovation, and that is reflected in this EY study. In fact, 52% of fortune-breakers in the Fortune 500 in 2000 have filed for bankruptcy, were bought, or simply ceased to exist as a product of technological disruption. Digital transformation should be considered a driver of the business and be part of the core business of the firm”, says Pablo Greiber, leading partner of Family Companies of EY Chile.
More women
Gender diversity at the board level is still within a must. Family members operating on their company’s boards are mostly male, reaching 23% of directories that include exclusively male family members, compared to 5% for companies that only have together made up of women related to the family.
“Family companies in Chile are increasingly professionalizing their directory in order to adapt it to the current challenges. It is for this reason that we begin to observe greater diversity in gender, age and profession in the composition of the board, increase in the number of directors not related to the family, greater involvement in technological issues such as Digital Transformation and cybersecurity and better succession plans in the family with clear and transparent rules,” explains Fadua Gajardo, Corporate Governance Manager and Family Enterprises at EY Chile.
According to the study, new companies participating in the indicator tend to be younger in age, smaller in sizes and more likely to be listed on the stock exchange. The company’s average age (since its founding) has dropped from 80.38 years in 2017 to 79.92 years in 2019 and the average income of family businesses has increased from US$13.62 billion in 2017 to US$14.96 billion in 2019.

Original source in Spanish