Step aside, Waltons. There’s a new family reigning as the wealthiest dynasty globally.

For the first time, the House of Nahyan has claimed the top spot in Bloomberg’s annual ranking of family fortunes.

With a staggering $305 billion fortune, the Al Nahyan family of Abu Dhabi has surpassed the wealth of the Waltons of Walmart Inc. by a significant $45 billion margin. Joining the ranks of the wealthiest families is another newcomer: the Al Thanis, Qatar’s royal family, securing the fifth position on the list.

The influence of petro-fortunes is reshaping the landscape of global business like never before. Their considerable personal and sovereign financial strength adds substantial emphasis to the region’s growing prominence. It’s worth noting that all three Gulf families included in the ranking are likely far wealthier than the conservative estimates suggest.

Collectively, the world’s richest families have seen their wealth increase by a staggering $1.5 trillion since the last ranking. The notable shifts from the Middle East are not the only highlights. Among the biggest gainers is the sixth-generation dynasty behind the luxury brand Hermès, adding $56 billion to become the world’s third-richest family by prioritizing longevity over fleeting trends.

Amid a world where fortunes rise and fall in the blink of an eye, the wealthiest clans have thrived by staying united, driven by a shared sense of responsibility and the conviction that their unity will enhance their wealth.

This cohesion has enabled dynasties to endure through wars, economic downturns, tax reforms, family disputes, and unpredictable external factors. While favorable market conditions certainly contribute, the most successful families focus on generational legacies rather than short-term gains, playing the long game for sustained prosperity.