New York City is home to some of the most influential family businesses in NYC, contributing significantly to the city’s $1.77 trillion economy. Family-owned companies have long shaped industries from media and finance to fashion and beauty, blending tradition with innovation. Here are the top 10 largest family businesses in New York City by annual revenue.
10. Renco Group – $5 Billion
Founded in 1975 by Ira Rennert, Renco Group is a family-owned holding company active in mining, metal production, and materials handling. The group owns Doe Run Resources and US Magnesium, and holds a 30% stake in AM General. Ira’s son, Ari Rennert, serves as President, continuing the family legacy.
9. Coty Inc. – $5.3 Billion
Coty was acquired by the Reimann family in 1992. The New York-headquartered company, founded in 1904, produces and licenses over 50 brands including Hugo Boss, Gucci, and CoverGirl. Coty became a public company in 2013, cementing its global cosmetics influence.
8. Central National-Gottesman Inc. – $6.2 Billion
Founded in 1886, CNG is a global leader in papermaking and packaging distribution. The Wallach family now represents the fourth generation of leadership, with Kenneth L. Wallach as executive chairman and Andrew Wallach as CEO.
7. Ralph Lauren Corporation – $6.2 Billion
Ralph Lauren founded the iconic Polo brand in 1967. Today, Ralph serves as executive chair and chief creative officer, while his son David Lauren has been CEO since 2015. The company operates over 1,000 retail locations worldwide.
6. STO Building Group – $9.5 Billion
Founded in 1971 by Patrick J. Donaghy and Lewis R. Marino, STO is a major provider of maintenance and construction services. James Donaghy, son of the founder, serves as executive chairman, with Robert Mullen as CEO.
5. Bloomberg LP – $11 Billion
Michael Bloomberg launched Bloomberg LP in 1981, offering financial data and news services. Today, Bloomberg LP is a global leader in finance and media. Michael Bloomberg continues as CEO, maintaining family influence in the enterprise.
4. The Hearst Corporation – $11.5 Billion
Founded by William Randolph Hearst, Hearst Corporation is a global publishing and media powerhouse. William R. Hearst III now oversees the family business, which includes magazines, television networks like ESPN, and numerous daily and weekly newspapers.
3. Fox Corporation – $14 Billion
Rupert Murdoch transformed his family’s media interests into a global empire. Today, he serves as chair of Fox Corporation, with his son Lachlan Murdoch as executive chair and CEO, controlling major broadcast, news, and sports networks.
2. Estée Lauder Cosmetics, Inc. – $18 Billion
Founded by Estée and Joseph Lauder in 1946, the company grew into a global beauty leader. Leonard A. Lauder serves as chairman emeritus, while Ronald S. Lauder oversees Clinique Laboratories. The family’s third generation actively manages brand operations worldwide.
1. Paramount – $29 Billion
Paramount, formerly ViacomCBS, was built by Sumner Redstone from his father’s drive-in theatre chain. Shari Redstone now leads the family holding company as non-executive chair, with her son Tyler Korff on the board. Paramount controls Nickelodeon, MTV, Showtime, CBS, and other major brands with over 4 billion subscribers globally.
These 10 firms highlight the influence of family businesses in NYC, demonstrating how tradition, innovation, and strategic leadership sustain generations of success. From entertainment and finance to fashion and beauty, New York City remains a hub for family-led enterprises that define industries and drive global commerce.
