In some countries, many of the largest publicly listed firms are family-owned. A firm is said to be family-owned if a person is the controlling shareholder; that is, a person (rather than a state, corporation, management trust, or mutual fund) can garner enough shares to assure at least 20% of the voting rights and the highest percentage of voting rights in comparison to other shareholders.[4] Some of the world's largest family-run businesses are Walmart (United States), Volkswagen Group (Germany), Samsung Group (Korea) and Tata Group (India).