"Walmart ( NYSE: WMT) became the first "non-tech" company to cross the $1 trillion market cap barrier. The reason, according to many analysts who cover the stock, is that Walmart has become modern. According to The New York Times, the company's "rapid e-commerce growth and push into automation and artificial intelligence propelled its stock into the trillion-dollar club." Maybe so. However, at its heart, it remains a bricks-and-mortar company with over 5,000 stores in the US and 1.6 million employees."
"Three of Sam Walton's children are on the billionaire list. Together, the family controls between 45% and 47% of Walmart shares. Son Jim Walton has a net worth of $152 billion, which is up $16 billion so far this year. Son Rob Walton's net worth is $149 billion, up $15 billion for the same period. Daughter Alice Walton's net worth is $148 billion, up $15 billion. Grandson Lukas Walton's net worth is $51 billion, up $5 billion this year."
Walmart reached a $1 trillion market capitalization driven by rapid e-commerce growth and investments in automation and artificial intelligence. The company still operates more than 5,000 U.S. stores and employs about 1.6 million people, making it the largest private-sector employer outside the U.S. government. The Walton family’s net worth rose by about $50 billion this year, with three children listed as billionaires and the family controlling roughly 45–47% of Walmart shares. Significant individual net-worth increases are reported for Jim, Rob, Alice, and grandson Lukas Walton. Amazon’s disruption pushed Walmart into e-commerce and added new omnichannel capabilities.
Read at 24/7 Wall St.
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