The walton family is wealthiest family in America. Sam Walton founded Walmart in 1962. It is now the world’s largest retailer by revenue with annual sales of $500 billion from its nearly 12,000 stores and clubs in 27 countries, operating under 56 different names worldwide
Walton’s descendants have a combined wealth of $215 billion, according to Bloomberg and nearly $95 billion more than the second-richest family in the United States, the Mars.
As of December 2014, the Waltons collectively owned 50.8 percent of Walmart. In 2018, the family sold some of their company’s stock and now owns just under 50%.
The company was founded by Sam Walton(1918-1992) in 1962 and incorporated on October 31, 1969. It is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, headquartered in Bentonville, Arkansas. It also owns and operates Sam’s Club retail warehouses.
Walmart is the world’s largest company by revenue, with US$514.405 billion, according to the Fortune Global 500 list in 2019. It is also the largest private employer in the world with 2.2 million employees
Walmart was listed on the New York Stock Exchange in 1972. By 1988, it was the most profitable retailer in the U.S. and it had become the largest in terms of revenue by October 1989.
Walton family fortune
The Walton family fortune is broken down as such:
- Alice Walton, $70.4 billion
- Jim Walton, $70.1 billion
- S. Robson Walton, $69.8 billion
- Lukas Walton, $17.7 billion
- Ann Walton Kroenke, $9.4 billion
- Nancy Walton Laurie, $8.5 billion
- Christy Walton, $8.1 billion