Jim Walton joins $100 billion club as Walmart shares hit record high

Jim’s fortune has risen by about $28 billion this year to $101 billion, fueled by a 50 percent rise in Walmart stock to a record high. The three Waltons have also received more than $15 billion each in stock sales and dividends over the years, according to Bloomberg.

Musk, Bezos, and now Jim Walton have a net worth of over $100 billion because they own large amounts of stock in some of the world’s most valuable companies.

Walmart founder Sam Walton wisely gave 20% of his future retail empire to each of his four children more than 70 years ago in 1953. By organizing his business as a family partnership and providing stakes to his children when he owned just a few stores, instead of handing over his fortune after he died a billionaire in 1992, he saved them a fortune in estate taxes.

Jim, 76, has run several of Walmart’s businesses over the years, including a bank and a community newspaper. After his brother John T. died in 2005, Jim replaced him on Walmart’s board of directors and remained a director until his retirement in 2016.

The late John T. left most of his fortune to his son Lukas, now the 45th richest person in the world with a net worth of $34.9 billion, and wife Christy, the 128th richest rich, with 15.7 billion dollars.

The five richest Waltons are worth a combined nearly $350 billion — a figure that dwarfs Coca-Cola’s market value of $306 billion.

Walmart has grown from a single five-cent store in Bentonville, Arkansas, to a retail giant that generates $600 billion in net sales a year, has 1.6 million Americans, or about 1 percent of its workforce. of work in the US and ranks among the largest in the world. companies with a market value of USD 634 billion.

The corporate titan has benefited from resilient consumer spending at a time of historic inflation and rising interest rates. Its shares have risen this year as investors bet on stabilizing prices, lower rates and the US economy escaping recession.