How Victoria built the fortune
Victoria Mars belongs to the fourth generation of the family that owns Mars, Incorporated, one of the largest privately held companies in the United States. Her wealth comes from the family's shares in the business, which has stayed private for more than a century and is owned almost entirely by descendants of founder Frank C. Mars. Because the company publishes little financial detail and has never listed its stock, the family's fortune rests on a business whose value is estimated rather than traded.
The company started with candy made in a family kitchen and grew, under Frank's son Forrest Mars Sr., into a global brand owner. Forrest introduced M&M's and expanded into Europe, and he also moved the company into pet food, a decision that later made Mars as much an animal care business as a confectioner. Victoria is a granddaughter of Forrest Sr. and a daughter of Forrest Mars Jr., who led the company with his siblings for many years.
Victoria worked inside the business rather than holding her stake passively. She sat on the Mars board for many years and served as its chair from 2014 to 2017, becoming the first woman to hold that role. During that period the company continued a major push into veterinary services and pet health, which has become one of its largest sources of revenue. Her position on the board gave her a direct say in decisions about acquisitions, leadership and the long term direction of the family company.
Companies and holdings
Mars today operates across snacking, food and pet care. Its confectionery side includes M&M's, Snickers, Twix and Milky Way, and it became a major gum maker after buying Wrigley in 2008. In pet care it owns brands such as Pedigree, Whiskas and Royal Canin, as well as large veterinary networks including Banfield Pet Hospital and VCA, which it acquired in 2017. In 2024 Mars agreed to buy Kellanova, the snack maker behind Pringles and Cheez-It, the largest deal in its history.
- Mars, Incorporated, family ownership stake shared with relatives
- Former chair of the Mars board of directors
- Interests in family foundations and charitable vehicles
Early life and career
Victoria grew up in a family that treated the company as a long term trust rather than a source of quick returns. Mars family members have traditionally been expected to understand the business in depth before taking governance roles, and Victoria followed that path. She pursued higher education in the United States and studied business, including graduate work in management, before taking up roles connected to the company.
Inside Mars she worked in finance and in operating areas, gaining exposure to how the company's divisions were run. She later joined the board and became a central figure in the family's governance, helping to manage the relationship between shareholders spread across several branches of the family and the professional managers who run the business day to day. That arrangement, in which family owners set direction while outside executives handle operations, has been a feature of Mars for decades. Family members usually serve on the board in rotation and are expected to understand cocoa supply chains, pet nutrition and veterinary care as well as finance, a requirement that reflects how broad the company has become.
Philanthropy and public life
Victoria Mars keeps a low public profile, in line with a family known for avoiding publicity. Her charitable activity has been connected to arts, education and community causes, and she has been involved with cultural institutions and with charitable activity associated with the Mars family. The company itself runs programs on cocoa farming, sustainability and animal welfare, and family members have supported these initiatives.
She rarely gives interviews and has not sought a public role outside the company. Most public references to her concern her leadership of the board and her place in the family's line of succession rather than her personal views. The Mars family as a whole has a reputation for privacy that goes back to Forrest Mars Sr., who seldom allowed photographs and rarely spoke publicly about the company.