Investing

Walmart's Walton's Net Worth Jumps to $432 Billion

Douglas A. McIntyre

Published: December 13, 2024 8:15 am

According to Bloomberg, the Walton family, descendants of Walmart Inc. (NYSE: WMT) founder Sam Walton, has a net worth of $432 billion, the highest of any family in the world. That is about the same as Elon Musk’s net worth, pegged at $442 billion. Unlike Musk, the Waltons inherited their money, primarily due to their ownership of stock in the world’s largest retailer and the largest company in the United States based on revenue and employee count.

24/7 Wall St. Key Points:

• The descendants of Walmart Inc.’s (NYSE: WMT) founder reportedly have a net worth of $432 billion.
• The family owns 46% of the world’s largest retailer.
• Take this quiz to see if you’re on track to retire. (sponsored)

Sam Walton has been dead since 1992, but one of his descendants was on the board of directors until recently. The wife of one of Walton’s grandchildren, Greg Penner, is now board chair. The family owns 46% of the retailer.

The Waltons got much richer this year. Walmart’s stock is up 79%, based on breakout earnings for the past several quarters. The S&P 500 is 27% higher. Shares of rival Amazon.com Inc. (NASDAQ: AMZN) are higher by 51%. Walmart has a market cap of $762 billion.

Walmart’s revenue was up 5.5% in the most recently reported quarter from a year ago to $169.6 billion. Adjusted per-share earnings rose 14% to $0.58. The retailer guided higher for the balance of the fiscal year. Pickup services from stores drove much of the revenue, as did a 27% growth in e-commerce worldwide. As of the end of the quarter, Walmart had over 10,500 stores worldwide and employed 2.1 million people. Walmart says that 90% of the population in the United States is within 10 miles of one of its 4,700 stores.

Not all of the Walton family’s net worth is based on Walmart ownership. Bloomberg says it is only 70% of the total.

Technology Legend Larry Ellison Has Over 95% of His Net Worth in 1 Stock