China sales reveal Amway billionaires
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BRINGING the American way of selling skin-care products and vitamins to China helped make Amway Corp the world's largest direct seller. It also made the children of one its co-founders billionaires.
Amway chairman Steve Van Andel and his siblings David Van Andel, Barb Van Andel-Gaby and Nan Van Andel own half of Alticor Inc, Amway's Ada, Michigan-based parent company. The stake, which they inherited in equal shares after their father, Jay Van Andel, died in 2004, is valued at US$4 billion, according to the Bloomberg Billionaires Index. Their ownership interests were confirmed by two people with knowledge of the holdings.
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