Alice Walton and her siblings have amassed an additional $11 billion in wealth within a day
In a significant development, the Walton family, heirs to the Walmart empire, have collectively added a combined $11 billion to their fortunes. This increase comes as a result of a surge in Walmart Inc.'s stock, which closed at $103.36, marking an over 4% rise.
Alice Walton, the daughter of Walmart founder Sam Walton, saw her net worth rise by $3.6 billion to $112.2 billion. Her eldest brother, Rob Walton, added $3.7 billion to his net worth, bringing it to $121.9 billion. Meanwhile, their younger brother, Jim Walton, added $3.7 billion to his net worth, bringing it to $120.8 billion.
Rob Walton, who took over as Walmart's chairman after their father's death in 1992 and held the position until 2015, retired from the Walmart board in 2022. However, he remains deeply involved in family ventures and led a group that acquired the NFL's Denver Broncos for $4.7 billion. After retiring from the board, he transferred control of the Denver Broncos franchise to his son-in-law, Greg Penner.
While the Walton family has been largely keeping a low profile compared to tech billionaires, they have been making strategic moves. The Walton family's wealth is becoming more actively tied to the performance of a modernized Walmart business model, with a focus on cutting-edge retail technology, supply chain AI, and healthcare delivery.
Alice Walton has focused her philanthropic efforts primarily on art and education rather than healthcare, with no major recent initiatives specifically in healthcare philanthropy. However, she has directed her energies toward healthcare reform through the Alice L. Walton School of Medicine, which evolved from her earlier holistic health institute founded in 2021.
Jim Walton's daughter, Annie Proeitti, chairs the Walton Family Foundation, the family's primary philanthropic arm. The foundation has been instrumental in supporting various causes, including education, health, and the arts.
The Walton family collectively owns around 45% of Walmart's shares, making them the single largest shareholder group of the retail giant. As Walmart continues to innovate and grow, it is expected that the Walton family's fortune will continue to grow as well.
In the global rich list, Alice Walton now ranks 16th, while Rob and Jim Walton rank 12th and 13th, respectively. The surge in Walmart's stock has added tens of billions to Walmart's market capitalization, further solidifying the Walton family's position as one of the wealthiest families in the world.
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