- The Walton family is the richest family in America.
- Sam Walton founded Walmart in 1962. It is now the world’s largest retailer by revenue with sales of $500 billion from its nearly 12,000 stores worldwide.
- Walton’s descendants have a combined wealth of $151.5 billion, according to Bloomberg. This is more than Jeff Bezos, Bill Gates, and Warren Buffett, and $52.8 billion more than the second-richest family in the United States, the Kochs.
- In public, the Waltons live a pretty modest life despite their wealth. Here’s how they spend their fortune.
The Waltons are the richest family in America, but they’re pretty discreet about it.
According to Bloomberg’s Billionaires Index, the Walmart heirs have a combined wealth of $151.5 billion, which is more than Jeff Bezos, Bill Gates, and Warren Buffett. In fact, they are worth $52.8 billion more than the second-richest family in the United States, the Kochs.
The three children of Walmart founder Sam Walton co-own Walton Enterprises, which is the biggest shareholder of the company and the reason behind their wealth. Walmart is the world’s largest retailer by revenue with sales of $500 billion from its nearly 12,000 stores around the world.
Only one of the siblings, Rob Walton, sits on the board of the company. James Walton, his brother, served on the board until 2016, before being replaced by his son Steuart in 2016.
Alice Walton, the youngest sibling, has never taken an active role running the business and has instead become a patron of the arts.
When the company has a good quarter, the family makes millions of dollars in dividends. However, despite their fortune, the Waltons seem to live a pretty modest life, at least in public.
Here’s what we do know about how the wealthy family spends its fortune:
Sam Walton, who died in 1992, opened the first Walmart store in Arkansas in 1962.
He was married to Helen Ronson. Together, they had four children: Rob, John, Jim, and Alice.
The Walton family own 50% of Walmart’s total stock between them.
This is Samuel Robson “Rob” Walton, the oldest Walton son. He served as chairman of Walmart until 2015.
He has a house in Paradise Valley, Arizona, near the base of Camelback Mountain. In the past, protesters have rallied outside of his Arizona home to advocate for better wages and benefits for Walmart workers.
He also has a large collection of vintage cars. In 2013, he ran his Daytona Coupe, which was at the time worth $15 million, off the tracks and wrecked it. The car was one of only five ever made.
John Walton, pictured here second from left, died in a plane crash in 2005, at the age of 58.
Source: The New York Times