Walton Family Loses $600 Million in Net Worth

By Douglas A. McIntyre Updated Feb 20, 4:21PM EST · Published Feb 15, 12:00PM EST

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Jim, Rob, and Alice Walton have each lost over $600 million in net worth so far this year.

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Walton Family Loses $600 Million in Net Worth — © walmart.com

According to the Bloomberg Billionaire Index, each of the three Walton children, born to Walmart Inc. (NYSE WMT | WMT Price Prediction) founder Sam Walton, has lost $600 million of their net worth so far this year.

Jim, Rob, and Alice Walton have each lost $609 million since January 1. However, each still has $124 billion. The family still owns 45% of Walmart’s stock, which is America’s largest company based on revenue. Sam Walton died in 1992.

Walmart was started in 1962 by Sam Walton. Today, it has over 10,000 locations worldwide and employs 2.1 million people. It is the largest employer in the United States, with 1.2 million workers. Last year, the global revenue total was $650 billion.

Walmart claims that in the U.S., where it has over 4,000 stores, 90% of the population lives within 10 miles of a Walmart location.

Walmart’s shares have been good to the family. They are up 164% in the past five years and 85% in the past year. Its current market cap is $850 billion.

Interestingly, Amazon.com Inc. (NASDAQ: AMZN) was supposed to put Walmart out of business. Two decades ago, e-commerce was viewed as superior to brick-and-mortar retail. Amazon has been blamed for the demise of Sears, Kmart, and J.C. Penney.

Walmart used its size, created its own e-commerce business, and built a model where people can order online and pick up at stores to compete with Amazon. (Amazon’s shares are up only 33% in the last year.)

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.