How Walmart’s discreet heirs make and spend their billions – from Rob, Jim and Alice
- The billionaire Walmart heirs are collectively worth more than Elon Musk or Jeff Bezos – from Sam Walton to his children, and the late John’s wife and son
The combined wealth of the Walmart heirs – which includes founder Sam Walton’s children, Rob, Jim and Alice, as well as his late son John’s wife, Christy, and their son Lukas – is roughly US$240 billion, according to the Bloomberg Billionaires Index.
While some have worked in the family business – whether that’s serving on the company board or working to manage the family’s wealth – others chose to pursue areas of personal passion.
Sam, the original man behind the company that now encompasses both Walmart and Sam’s Club, set his family up for financial success when he divided the ownership before he died. He wasn’t a man of flashy luxury, but you can see how his children are living a slightly more lavish life now.
Here’s a look at how the Walton family members make and spend their billions:
1. Sam Walton
Sam opened the first Walmart store in Rogers, Arkansas, in 1962. He married Helen Robson on Valentine’s Day in 1942. Together, they had four children: Rob, John, Jim and Alice.
By the time Sam died at the age of 74 of cancer in 1992, he had set up the company ownership in a way that minimised the estate taxes anyone on the receiving end would have to pay.
He set up his ownership of Walmart’s stock in a family partnership – each of his children held 20 per cent of Walton Enterprises, while he and Helen each held 10 per cent. Helen inherited Sam’s 10 per cent tax-free when he died. The stocks were carefully divided among the family.