Sign up for your FREE personalized newsletter featuring insights, trends, and news for America's Active Baby Boomers

Newsletter
New

Walton Family Net Worth Hits $453 Billion After Earnings

Card image cap

Five members of the Walton family, all related to Walmart Inc. (NYSE: WMT) founder Sam Walton, have a combined net worth of $453 billion. That is greater than Elon Musk’s $425 billion. He tops the Bloomberg Billionaires list.

24/7 Wall St. Key Points

  • Five members of the Walton family have a combined net worth greater than Elon Musk’s.
  • Strong Walmart Inc. (NYSE: WMT) results suggest the family’s net worth will be unbelievably high for years.
  • Are you ahead, or behind on retirement? SmartAsset’s free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests. Don’t waste another minute; learn more here.(Sponsor)

Three Waltons, each a child of Sam Walton, are worth more than $100 billion. Jim Walton has a net worth of $131 billion, which puts him in 12th place on the list. Rob and Alice Walton each have a net worth of $128 billion, putting them just behind their brother.

The other two wealthy Waltons are Lucas and Christy,  with net worths of $45 billion and $21 billion, respectively. Lucas is one of Sam’s grandchildren. Christy is the widow of John T. Walton, who was one of Sam’s other sons. John died in a plane crash in 2005.

Walmart Shines

Among them, the Waltons own about 49% of Walmart’s shares. The company is worth $855 billion. And, based on Walmart’s recent numbers, that figure could rise.

Walmart has done better than other big-box retailers. After weak results from Home Depot and Target, Walmart announced an extremely strong quarter.

Despite what has been called pressure on American consumers, Walmart’s revenue in the most recent quarter was up 6% to $180 billion. Adjusted operating income increased by 8% to $7 billion. Walmart boosted its forecast for its fiscal year. Departing CEO Douglas McMillon said, “The team delivered another strong quarter across the business. eCommerce was a bright spot again this quarter. We’re gaining market share, improving delivery speed, and managing inventory well.”

Walmart has flanked many of its rivals. It has a powerful e-commerce presence, and its U.S. store footprint is huge. The company claims that 90% of Americans live within 10 miles of a Walmart or Sam’s Club location.

Walmart has another convenience service. Customers can order online, select a pickup time at a store, and have their order brought to them in the store parking lot.

The family’s net worth is likely to be unbelievably high for years.

Prediction: Walmart’s AI Arsenal Will Eclipse Costco’s Empire and Dominate Retail by 2030

 

If You have $500,000 Saved, Retirement Could Be Closer Than You Think (sponsor)

Retirement can be daunting, but it doesn’t need to be.

Imagine having an expert in your corner to help you with your financial goals. Someone to help you determine if you’re ahead, behind, or right on track. With SmartAsset, that’s not just a dream—it’s reality. This free tool connects you with pre-screened financial advisors who work in your best interests. It’s quick, it’s easy, so take the leap today and start planning smarter!

Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality. (sponsor)

The post Walton Family Net Worth Hits $453 Billion After Earnings appeared first on 24/7 Wall St..

Back to Listing
credit: 
Popular Products