Alice Walton, the daughter of Walmart founder Sam Walton, has officially become a centi-billionaire, reaching a net worth of $101 billion. This milestone comes as Walmart’s stock price has seen significant growth, benefiting the Walton family, which consists of Alice and her two brothers, Rob and Jim.
All three siblings have now entered the exclusive club of individuals with fortunes exceeding $100 billion. This achievement follows a surge in Walmart’s share price, which has been attributed to the company’s strong performance in a challenging retail environment. As of now, Walmart remains the world’s largest retailer and has held the top spot on the Fortune 500 list for over a decade.
At 74 years old, Alice Walton co-manages Walton Enterprises, one of the family’s holding companies. Her rise to wealth makes her the richest woman in the world, placing her 18th on the Bloomberg Billionaires Index. This year alone, her fortune has increased by $30.8 billion.
Interestingly, Alice is not the first woman to reach this level of wealth. Earlier this summer, Francoise Bettencourt Meyers, heiress to the L’Oreal fortune, was valued at $101 billion but has since seen her net worth drop to $88.2 billion due to declining share prices. In contrast, the Walton siblings have all benefited from Walmart’s strong market performance.
Jim Walton, aged 76, was the first of the trio to surpass the $100 billion mark, achieving a net worth of $101 billion in early September. His fortune has since risen to $104 billion. Rob Walton, at 79 years old, also crossed the centi-billionaire threshold around the same time, currently valued at $102 billion.
The Walton siblings now join a select group of 18 individuals globally who have fortunes exceeding $100 billion. This group includes high-profile figures such as Elon Musk, Jeff Bezos, and Mark Zuckerberg.
Walmart’s recent financial results have contributed significantly to the Walton family’s wealth. In its Q2 earnings report, the company announced revenues of $169.3 billion, a 4.8% increase from the previous year. CEO Douglas McMillon expressed confidence in Walmart’s position, stating, “We continue to gain market share, including in general merchandise, and transaction counts and unit volume are up across markets.”
The company’s growth has been particularly strong in the food sector, and its health and wellness business has also seen a boost from the popularity of certain medications, contributing to overall sales increases.
While the Walton family enjoys a remarkable rise in wealth, the fortunes of others like Bettencourt Meyers are declining. L’Oreal’s share prices have dropped 11% this year, despite the company reporting a 7.5% increase in sales, highlighting the volatile nature of the market.
Alice Walton’s ascension to the $100 billion club emphasizes the growing wealth of the Walton family amid Walmart’s impressive market performance. As the retail landscape continues to evolve, the Walton siblings remain at the forefront of this financial success story.
