3 Waltons are worth a total of $224 billion – more than Elon Musk – thanks to the rise in Walmart shares

by MMC
0 comment

The three surviving children of legendary founder Sam Walton – Rob, Jim and Alice – all occupy the top 20 spots on the rankings. Forbes Rich List with a personal fortune of between $70 billion and $77 billion. They were half as rich in 2016.

They are now worth a combined $224 billion, making them richer as a trio than Elon Muskwho is number two on the list with an estimated net worth of $205 billion.

Their wealth has exploded in recent years thanks to Walmart shares, which rose from less than $75 in 2016 to a record high of $181 earlier this week.

It has already jumped 11% this year, fueled by resilient consumer demand and growing hopes for lower interest rates and a recovery in the economy. escape a recession.

The Walton trio have raked in more than $45 billion in total from stock sales and dividends over the years, according to Bloomberg. Along with other family members, they own more than 1.25 billion shares, or more than 45% of the company, a stake valued at approximately $220 billion.

This is striking The founding family of Walmart owns such a large part of a public company with a market capitalization of almost $500 billion and has several board members.

Many very wealthy families prefer to keep their businesses private. This is the case for Mars, Koch Industries, Cargill, Fidelity, Publix, Chick-fil-A and others.

You may also like

Leave a Comment

The news website dedicated to showcasing Africa news is a valuable platform that offers a diverse and comprehensive look into the continent’s latest developments. Covering everything from politics and economics to culture and wildlife conservation

u00a92022 All Right Reserved. Designed and Developed by PenciDesign