A family business is a commercial organization in which decision-making is influenced by multiple generations of a family, related by blood or marriage or adoption, who has both the ability to influence the vision of the business and the willingness to use this ability to pursue distinctive goals. They are closely identified with the firm through leadership or ownership. Owner-manager entrepreneurial firms are not considered to be family businesses because they lack the multi-generational dimension and family influence that create the unique dynamics and relationships of family businesses.
Congresswoman Pelosi greets employees of McRoskey Mattress Company, a family-owned, San Francisco mattress manufacturer founded in 1899.
Volkswagen AG, known internationally as the Volkswagen Group, is a German public multinational conglomerate manufacturer of passenger and commercial vehicles, motorcycles, engines and turbomachinery. Headquartered in Wolfsburg, Lower Saxony, Germany, and since the late 2000s is a publicly-traded family business owned by Porsche SE, which in turn is half-owned but fully controlled by the Austrian-German Porsche and Piƫch family. The company also offers related services, including financing, leasing, and fleet management. In 2016, it was the world's largest automaker by sales, and keeping this title in 2017, 2018, and 2019, selling 10.9 million vehicles and was the largest automaker by revenue in 2022. It has maintained the largest market share in Europe for over two decades. It ranked seventh in the 2020 Fortune Global 500 list of the world's largest companies. In Forbes Global 2000 2023 Volkswagen Group ranked 29th.
Headquarters in Wolfsburg, Germany
26 May 1938: Laying the foundation stone of the first Volkswagen plant by Adolf Hitler: In the front right is Ferdinand Porsche.
A 1951 Volkswagen Beetle
The Audi F103, in production from 1965 to 1972