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Mary Hanbury, Rachel Askinasi, Ben Tobin, and Sarah Jackson
Updated
2024-04-27T18:15:20Z
- The Walmart heirs' combined net worth is roughly $240 billion, according to Bloomberg.
- In public, the Waltons live relatively modest lifestyles despite their wealth.
- Here's how they spend their fortune.
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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 $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 Walton, 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 empire spends its money:
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Sam Walton 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.
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By the time Sam died in 1992, he had set up the company ownership in a way that minimized the estate taxes anyone on the receiving end would have to pay.
Source: Fortune
He set up his ownership of Walmart's stock in a family partnership — each of his children held 20% of Walton Enterprises, while he and Helen each held 10%. Helen inherited Sam's 10% tax-free when he died.
Source: Fortune
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Samuel Robson "Rob" Walton is the oldest Walton child. He is 79 years old.
He served as chairman of Walmart from 1992 until 2015 and remained on the board after.
He's stepping down from the board at the end of his current term in 2024.
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Rob made a splash in 2022 by leading an ownership group to buy the Denver Broncos.
The group purchased the NFL team for a $4.65 billion in summer 2022 in a record-breaking sale at the time.
Rob has purchased a house in Paradise Valley, Arizona, near the base of Camelback Mountain.
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In the past, protesters have rallied outside of his Arizona home to advocate for better wages and benefits for Walmart workers.
Besides real estate, Rob has a large collection of vintage cars.
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In 2013, he ran his Daytona Coupe, which was worth $15 million at the time, off the tracks and wrecked it. The car was one of only five ever made.
Sam Walton's second-oldest child, John Walton, died in a plane crash in 2005.
He was 58 years old.
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He was married to Christy Walton and had one son, Lukas.
John left about 17% of his wealth to his wife, and he gave the rest to charity and to his son.
Source: Business Insider
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John served in Vietnam as a Green Beret. When he returned from the war he held a series of jobs — like the Walmart company pilot, a crop duster, and the owner a few yachting companies — before becoming a Walmart board member.
Source: Fortune
In 2013, Christy decided to sell their Jackson Hole mansion. She also sold the family's ranch for an undisclosed price in 2016 after listing it for $100 million in 2011.
Source: Curbed and Ranch Marketing Associates
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James "Jim" Walton is the youngest son of Walmart founder Sam Walton. He is 75 years old.
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He is chairman of the board of the family's Arvest Bank Group. One of the state's largest banks today, Arvest Bank has assets totaling more than $27 billion.
Source: Bloomberg
He also served on the Walmart board, starting in 2005 to fill the vacancy after his brother John died. Jim Walton's son, Steuart, took over his father's seat on the board in 2016.
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Now, he presides over Walton Enterprises — the private company that deals with the investments and finances of the Walton family only — from modest offices in Bentonville, Arkansas.
Source: Fortune
The youngest of founder Sam Walton's children, Alice Walton is worth $78.8 billion, according to Bloomberg. She has been divorced twice and has no children. She is 74 years old.
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Alice has never taken an active role in running the family business.
Instead, she became a patron of the arts, which she fell in love with at a young age.
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When she was 10, she bought her first work of art: a reproduction of Picasso's "Blue Nude" for about $2, she told The New Yorker.
Source:The New Yorker
She has an immense private art collection, with original works from Andy Warhol and Georgia O'Keeffe. Alice opened a museum in Bentonville called Crystal Bridges in 2011 to house her $500 million private art collection.
When it opened, Crystal Bridges had four times the endowment of the famous Whitney Museum in New York.
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The collection includes a Georgia O'Keeffe painting that Alice spent $44.4 million on in 2014 — the biggest sale for a woman's piece of art in history.
Source: The Observer
Alice also breeds horses.
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Her Millsap, Texas, property, Rocking W Ranch, sold to the Three Amigos Investment Group of Kermit, Texas, in September 2017 for an undisclosed amount.
Source: Star-Telegram
It had an initial asking price of $19.75 million, which was reduced to $16.5 million. The working ranch had over 250 acres of pasture and outbuildings for cattle and horses.
Source:WilliamsTrew
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Her other, 4,416-acre Texas ranch was previously listed at a reduced price of $22 million.
The modest, three-bedroom, two-bathroom home overlooks the Brazos River.
Alice also bought a two-floor condo on New York's Park Ave. for $25 million in 2014.
Source: Business Insider
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It has more than 52 large windows overlooking Central Park plus a media room, a winding staircase, and more than 6,000 total square feet of space.
Source: Business Insider
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Sam and Helen started the foundation as a way to teach their children how to give back and how to work together.
The charity awards millions of dollars in grants to causes that align with the foundation's values.
The foundation awarded $566.5 million in grants in 2022, according to its website.
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The foundation has three main areas of focus:
The foundation's focus on education was led by John. His brother Jim said John was really interested in being able to give parents choices when it came to their child's schooling.
Source: Walton Family Foundation
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Rob spearheaded the foundation's venture into environmental protection. One of the first grants they gave helped develop a sustainable fisheries label.
Source: Walton Family Foundation
A commitment to the family's home of Arkansas is another large part of the foundation. The website says this area of focus is about "advancing our home region of Northwest Arkansas and the Arkansas-Mississippi Delta."
Source: Walton Family Foundation
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Walmart Inc., which owns Walmart and Sam's Club, is the largest retailer in the US in terms of revenue.
In fiscal year 2023, Walmart reported $648.1 billion in revenue.
When Walmart has a good quarter, the Waltons make hundreds of millions of dollars in dividends.
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Even though the Walton family is raking in billions as a result of the company's success, they remain relatively under-the-radar in terms of flashing their wealth — much like their patriarch, Sam, did in the early years.
Source: Fortune
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