Richest Family In The World Just Got Richer

"The richest family on the lucky list is the Waltons. They have climbed onto the rich train because their father, Sam Walton, started the second-largest company in the US. It's Walmart ( NYSE: WMT | WMT Price Prediction). He started it in 1962 and died in 1992. The best way to look at him is as one of the greatest founders and CEOs in history. He bested the two largest retail incumbents. These were Sears and J.C.Penney. Each of those companies is virtually gone now."

"The richest member of the family is Jim Walton, the world's 9th-richest person, with a net worth of $157 billion. That figure is up to $21 billion this year. His brother, Rob Walton, is the 11th-richest person in the world, with a net worth of $154 billion, up $20 billion. Their sister, Alice, has a net worth of $153 billion, up $20 billion, making her the 11th-richest person in the world."

"The Walton family's wealth is based almost exclusively on Walmart's stock price. The stock is up 18% this year compared 8% for the S&P 500. Walmart has a market cap of $1.05 trillion. That makes it the 12th-most-valuable company in the world, just behind Samsung. The Walton family owns 45% of Walmart. It has no role in management. Steuart Walton, one of Sam Walton's grandchildren, is on the board."

"The Walton family wisely chose professional management to run the company. The latest example is the current CEO, John Furner. He started as an associate in 1993."

Wealth can grow through personal earnings or inheritance. The Walton family represents inheritance-based wealth, originating from Sam Walton, who founded Walmart in 1962 and led it until his death in 1992. Walmart displaced major retail incumbents such as Sears and J.C. Penney, which have largely disappeared. Jim Walton is the richest family member with about $157 billion, followed closely by Rob Walton and Alice Walton with about $154 billion and $153 billion. Their combined wealth is about $462 billion, largely tied to Walmart’s stock performance. The family owns about 45% of Walmart without managing day-to-day operations, while professional executives run the company.

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