The Walton family is an American family whose collective fortune makes them the richest family in the United States of America and the richest family in the world, thanks to their ironclad control over the world's largest retailer, Wal-Mart.
Seven heirs of founders Sam Walton (d. 1992) and his brother James "Bud" (d. 1995) own about half of the company's stock. Founded in 1962 in Rogers, Ark. and taken public in 1970, today it's the biggest business in the U.S. in terms of revenues, with $482 billion in sales. In June 2016 Walmart shrunk its board from 15 members to 12 --keeping Instagram cofounder Kevin Systrom and embattled Yahoo CEO Marissa Mayer as members. The retiring Jim Walton (Sam's youngest child, pictured above with his sister Alice) was replaced by his son, Steuart, the first Walton grandchild to join the board. Jim's brother, Rob Walton, who was chairman for two decades, remains a director alongside current chairman Greg Penner, his son-in-law. The Walton family fortune is primarily held by Sam's three living children -- Rob, Jim and Alice -- daughter-in-law Christy and her son, Lukas, plus Bud's two daughters, Ann Walton Kroenke and Nancy Walton Laurie.
The Walton family fortune is broken down as such Alice Walton , $66 billion, Jim Walton , $65.8 billion, S. Robson Walton , $65.4 billion, Lukas Walton , $16.2 billion, Ann Walton Kroenke, $8.8 billion, Nancy Walton Laurie , $8 billion, Christy Walton , $7.6 billion.
Best known for big box stores in rural and suburban America celebrated for its low priced products and excoriated for its labor practices. The company failed to bring its big-box consumer lifestyle to New York City, unlike its competitor Target.
In 2016, Alice and Jim Walton put a $250 million grant towards building charter school facilities, in honor of their parents' commitment to providing high-quality education. The Walton Family Foundation created the Building Equity Initiative to provide charter schools with access to capital to create and expand their facilities. This initiative was established after the foundation announced in 2016 that it would spend $1 billion over the next five years to expand "educational opportunity" by partnering with charter school operators, researchers, and education reformers.
In the hour that it takes a new Walmart employee to earn the $11 starting wage, the family that owns the retail giant has banked $4 million.
In fact, the third-generation heirs of Walmart WMT, 1.80%. Founder Sam Walton have amassed a $191 billion fortune to top Bloomberg's list of the richest family in the world. And that has grown by $39 billion since the Waltons topped the list last year.
Over the past year on average, the Walton family earns an eye-watering US$70,000 per minute, US$4 million per hour, and US$100 million per day.
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