Three Walmart heirs have more than doubled their money since 2016, adding more than $100 billion to their combined fortunes.
Legendary founder Sam Walton’s three surviving children — Rob, Jim, and Alice — all hold top-20 spots on the Forbes rich list with personal fortunes of between $70 billion and $77 billion. They were less than half as wealthy in 2016.
They’re now worth a combined $224 billion, making them richer as a trio than Elon Musk, who’s number two on the list with an estimated $205 billion net worth.
Their wealth has ballooned in recent years thanks to Walmart stock, which has surged from below $75 in 2016 to a record high of $181 earlier this week.
It’s jumped 11% this year already, fueled by resilient consumer demand and mounting hopes that interest rates will be cut and the economy will escape a recession.
The Walton trio have garnered more than $45 billion in total from stock sales and dividends over the years, per Bloomberg.
Together with other relatives, they own more than 1.25 billion shares, or more than 45% of the company — a stake valued at roughly $220 billion.
Source: Business Insider
