Rob Walton, the eldest son of Walmart founder Sam Walton, has become the first member of America’s richest family to reach a net worth of $100 billion. With Walmart’s stock at an all-time high, Rob’s fortune continues to rise, currently ranking him as the 16th richest person in the world. His siblings, Jim and Alice Walton, also hold significant wealth, with Jim worth $98.8 billion and Alice at $91.3 billion. Alice briefly held the title of the world’s wealthiest woman in September, surpassing L’Oreal heiress Francoise Bettencourt Meyers.
Rob Walton joins a select group of individuals in the $100 billion club, including Elon Musk, Bernard Arnault, and Jensen Huang. The increase in the number of individuals with 12-figure fortunes is notable, with only four people achieving this milestone in 2021. Walton’s rise to wealth began in 1962 when his father opened the first Walmart store in Arkansas. He later joined the family business in 1978 and took over as chairman after his father’s passing in 1992.
In June, Walton retired from Walmart’s board after more than four decades of service, including over 20 years as chairman. His son-in-law, Greg Penner, now serves as chairman of Walmart and has also taken over as controlling owner of the NFL’s Denver Broncos. Despite selling billions of dollars worth of Walmart stock and contributing billions to charitable causes, the Walton family still holds a 45% stake in the retail giant due to strategic stock buybacks.
The majority of the Walton family’s stake in Walmart is split evenly between Rob, Jim, and Alice Walton, with the remaining portion belonging to the heirs of their late brother, John Walton. Both Alice and Jim are actively involved in philanthropy and business ventures outside of Walmart, with Jim chairing the family’s Arvest Bank Group. With the continued success of Walmart’s stock, it is possible that Jim and Alice could also join Rob in the $100 billion club in the near future.
Overall, Rob Walton’s impressive net worth highlights the continued success of Walmart as a leading retail company. As the eldest son of the Walmart founder, Rob’s legacy and influence within the family business have played a significant role in its growth and success over the years. With his retirement from Walmart’s board, Rob’s focus may now shift towards further philanthropic efforts and initiatives to continue the family’s longstanding tradition of giving back.
