The wealthiest family globally surpasses the total value of two European countries in terms of fortune.
Back in 1962, Walmart was founded by Sam Walton and his brother Bud Walton, and now their seven heirs collectively form the wealthiest family worldwide.
Last year, Bloomberg declared the Walton family as the most affluent globally, with a staggering wealth of $509 billion (approximately £380 billion). To put this into perspective, the combined GDP of Greece and Hungary equals $520 billion (£387 billion), while Iran’s GDP stands at $300 billion (£301 billion).
Recently, reports from The Week indicate that the Walton family’s net worth has risen to $513 billion (around £380 billion), as per the Express.
Today, Walmart stands as one of the largest retail chains globally, with over 10,995 stores, out of which 4,611 are situated in the United States.
Despite his immense success, Sam Walton was known to maintain a dedicated work ethic as Walmart flourished. A retailing consultant, Walter F. Loeb, once noted Sam’s commitment to his work and staff.
When Sam passed away in 1992 at the University of Arkansas Medical Sciences Hospital at the age of 72, the business was passed down to family members. His brother Bud, who played a pivotal role in Walmart’s growth, passed away three years later.
Following Sam’s demise, his eldest son, Rob Walton, took over as chairman until 2015, eventually stepping down in 2024. His son-in-law, Greg Penner, now leads as chairman, boasting a net worth of $113 billion (around £85 billion) according to Forbes.
Greg Penner, alongside other Walton family members, utilized their immense wealth to acquire the Denver Broncos for $4.7 billion (£3.5 billion) in 2022. The family also has stakes in various sports teams, including Arsenal in the Premier League.
This sports connection stems from Ann Walton Kroenke, who inherited a share after Bud Walton’s passing and is married to sports tycoon Stan Kroenke. Stan Kroenke owns several sports teams, including the Los Angeles Rams and Denver Nuggets.
Nancy Walton Laurie, another daughter of Bud, unveiled her opulent superyacht, Kaos, worth $300 million (£227 million) in 2018, making it the largest yacht owned by a woman. The yacht underwent significant renovations to become a luxurious 361-foot vessel.
However, in 2023, climate activists vandalized the yacht in Ibiza with spray paint, protesting against excessive consumption.
Alice Walton, daughter of Sam Walton, was named the world’s wealthiest woman last year, with an estimated fortune of approximately $133 billion (£99.5 billion), ranking as the 14th richest person globally. Her brother Rob and family hold the 11th position in wealth, while Jim and his family rank 12th.
Alice invested in an £18 million luxury apartment in New York City, spanning 6,346 square feet with five bedrooms, six bathrooms, a grand staircase, and stunning city views from 52 windows.