Additional Coverage:
- 3 Walmart heirs are each worth almost $100 billion — and together they’re way richer than Elon Musk (newsbreak.com)
Jim, Alice, and Rob Walton, each part of the Walton family lineage, saw their fortunes escalate by approximately $22 billion this year alone due to a surge in Walmart shares. Each now has a net worth surpassing $92 billion, rapidly approaching the $100 billion mark, positioning them near the threshold of becoming centibillionaires alongside figures like Elon Musk, Jeff Bezos, Bill Gates, and Warren Buffett.
Their collective net worth now totals about $280 billion, surpassing the wealth of Elon Musk, which stands at $239 billion, as well as equating roughly to the cash reserves of Berkshire Hathaway as of the end of June. This fortune puts the trio among the top richest individuals globally, ranking 16th, 17th, and 18th on the Bloomberg Billionaires Index.
These substantial net worths stem from their inherited Walmart shares, which each sibling holds around 12% of through a family trust, having amassed over $15 billion each from stock sales and dividends over numerous years, according to Bloomberg data.
When including Lukas Walton, with a net worth of $33 billion, and Christy Walton, holding $14.8 billion, the wealth of this retail dynasty nearly reaches $320 billion. This amount overshadows the market capitalizations of major companies such as Bank of America and Coca-Cola.
The rapid rise in the Waltons’ wealth is credited to the robust performance of Walmart stock, which has tripled since 2016. This increase is bolstered by strong consumer spending and growing investor confidence, anticipating potential drops in inflation and interest rates in the near future.