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When you hear people talk about “old money,” what comes to mind should be heirs, heiresses, inherited corporations, or inherited real estate. Like everything else in life, there is also a kind of hierarchy in “old money”, this is because some “old money” is more important than others; you know, just like wine, the older the money, the better for the heirs and heiresses. Such is the case of Jacqueline Mars, an heiress who inherited the largest confectionary company in the world as a third generation legacy alongside her brothers and they were able to maintain and exponentially grow their inherited empire to become one of the top five privateers. companies in the United States. Let’s find out how she maintained and grew her “old money” into a huge fortune after inheriting her father’s Mars empire.
Who is Jacqueline Mars?
An American heiress who was born on October 10, 1939 in Washington DC, United States of America. She was born as the only child of three children to Audrey Mars and Forrest Mars Sr, an American businessman famous for developing Milky Way, Mars, M&M and Chocolate Candy bars; her grandfather was the famous Frank Clarence Mars, an American business tycoon who founded Mars Inc., a business that was passed down to Jacqueline Mars’ father and then eventually to her and her two brothers, making it a legacy third generation. Jacqueline Mars attended high school at Miss Hall’s School before earning a degree in anthropology in 1961 from Bryn Mawr College. She is still a member of Bryn Mawr College’s all-time swim team.
progressive old money
After her studies, Jacqueline Mars took a break from her career to allow her to marry and start a family. It was not until 1982 that she joined her father’s company as president of the food products group. In 1999, her father passed away, leaving behind Mars Inc. to Jacqueline Mars and her two brothers. For some people, there are many fond memories around certain candies that marked their childhood. You know, like Skittles, Orbit, Twix, Sneakers, M&Ms, Mars, Bounty, Maltesers, etc., these candies are produced by Mars Inc. the company that Jacqueline Mars and her brothers inherited and developed into a even larger private enterprise in the United States of America.
Flaunting their wealth wasn’t exactly how she and her brothers had been raised. His father raised them frugally, he raised them to be humble and hardworking despite the fact that they are heirs and heiresses of one of the biggest candy producing companies. Jacqueline Mars and her brothers owe their billionaire status to Mars Inc. because each of them owns an equal number of shares in the company. Together, the Mars family is worth over $94 billion, and each year Mars Inc. rakes in around $45 billion, making them the 3rd richest family in America.
Jacqueline Mars and her contribution to Mars Inc.
According to private documents, Jacqueline Mars, also known as Chocolate Queen, and her brothers also known as The Mars Family are the sole shareholders of Mars Inc. As a third generation legacy, every decision made on Mars Inc. had to be made by Jacqueline Mars and her two brothers. In 2017, the Mars family consisting of Jacqueline Mars and her two brothers purchased Doane Pet Care Company, which led to a significant increase in their income and earned them the position of one of the best dry pet foods. in the USA. In 2008, Jacqueline Mars and her two brothers decided to buy Wm. Wrigley Jr. Company in collaboration with Berkshire Hathaway Incorporated for 23 billion dollars.
Jacqueline Mars and her brothers did the extra work that helped expand Mars Inc. into four segments around the world; Mars Wrigley Confectionery, headquartered in Chicago, Illinois, with US headquarters in Hackettstown and Newark, New Jersey, Petcare with factories in Zaventem, Belgium; Poncitlán and Jalisco, Mexico; Querétaro, Mexico, Food located in Rancho Dominguez, California, and MARS Edge located in Germantown, Maryland. Jacqueline Mars is currently worth $53 billion which is largely based on her heritage and that makes her the 18th richest person in America and the 21st richest person in the world.
The personal life and philanthropy of Jacqueline Mars
Jacqueline Mars was involved in a car accident that claimed the life of one person and caused the miscarriage of another. She had confessed to sleeping at the wheel and she pleaded guilty at trial and was charged with reckless driving. She is currently a trustee of the United States Equestrian Team, she has also served as an active board member of the Washington National Opera and the National Sporting Library and Fine Arts Museum. She is a philanthropist who contributes to several charitable causes using her Mars Foundation for such donations. Part of his philanthropy included the Australian Outback Doctors and the National Symphony Orchestra.
Mars is an absolute horse lover and is the proud owner of a horse farm in Virginia that houses trained horses that have been used by Olympic medalists. She maintains a lavish lifestyle, owns several of the most expensive cars in the world, and also splurges on wristwatches, clothes, and jewelry. However, due to the secrecy of the Mars family, it is difficult to say the exact number of shares Jacqueline owns in Mars Inc., but one of her sons currently sits on the board of directors of Mars Inc. and despite this, she is now retired. Mars Inc., she is still retained as a strategic advisor to help run the Mars empire.
Awards and Achievements
As the princess of the Mars empire, Jacqueline Mars has certainly made a lot of achievements in life, part of these achievements includes her “As You Like it, Owners” award from the Professional Riders organization in 2011, her award Heritage from the National Archives Foundation in 2011, her R. Bruce Duchossois Distinguished Director Award in 2015, her U.S. President’s Lifetime Achievement Award in 2021, and a Richest Woman in America. This remarkable woman may have been given a golden ticket in life, but she certainly lived well and contributed to the growth of her legacy and even her society as a whole.
Sources: Wealthy Gorilla, CA Knowledge and Celebrity Net Worth.
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