"The richest family in the world is the Walton family, by a large margin. They are the descendants of Walmart Inc. ( NYSE: WMT) founder Sam Walton. Every year, Forbes and Bloomberg release a list of the richest families in the world. The estimates are easy for the wealth that is mostly held in public companies. Private company ownership and investments are harder to value accurately."
"Bloomberg puts the Walton figure at $513 billion across three generations. The second richest family is controlled by Al Nahyan of the United Arab Emirates, at $336 billion. The net worth of the Waltons is well below that of Elon Musk, who is the world's richest person with a net worth of $632 billion. The Waltons and their foundations own 44% of Walmart, the world's largest retailer. Walmart's market cap is $922 billion, which makes it the 13th most valuable company in the world."
"For the most recent quarter, Walmart reported revenue of $180 billion, up 6% from the same quarter a year earlier. Earnings rose 35% to $0.77 per share. Walmart has 2.1 million employees around the world and more than 10,500 stores. The Waltons' wealth increased over the past year. Walmart stock is up 21% over that period, compared to an 11% increase in the S&P 500."
The Walton family holds the largest family fortune, estimated at $513 billion across three generations. Bloomberg and Forbes compile lists where public-company holdings enable easier wealth estimates while private assets are harder to value. The Waltons and their foundations own 44% of Walmart, whose market capitalization is about $922 billion. Walmart reported $180 billion in quarterly revenue, a 6% year-over-year increase, and earnings rose 35% to $0.77 per share. Walmart employs 2.1 million people and operates over 10,500 stores. Walton family wealth rose as Walmart stock climbed 21% versus an 11% S&P 500 gain. The Waltons inherited their fortune, unlike many tech founders.
Read at 24/7 Wall St.
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