Rob, Jim, and Alice Walton are the three children of Sam Walton, the founder of Walmart, which has maintained its position at the top of the Fortune 500 ranking for over a decade.
Walmart, established in 1945, is the world’s largest retailer, and its ownership is split between two family holding companies. Alice Walton, aged 74, co-manages one of these entities, Walton Enterprises, contributing to her substantial net worth of $101 billion.
Alice Walton’s wealth has secured her position as the richest woman globally, ranking 18th on the Bloomberg Billionaires list. However, she is not the first woman to attain centi-billionaire status. Earlier this year, L’Oreal heiress Francoise Bettencourt Meyers was valued at $101 billion, but her fortune has since decreased to $88.2 billion. In contrast, Alice Walton has seen her fortune increase by $30.8 billion this year alone.
Alice Walton is not the only member of her family on the Billionaires Index. Her siblings Jim Walton, aged 76, and Rob Walton, aged 79, hold the 16th and 17th spots, respectively. Jim Walton was the first among the trio to join the $100 billion club, as his fortune reached $101 billion in the second week of September, now valued at $104 billion. Rob Walton also entered the centi-billionaire group that week, currently holding a net worth of $102 billion.
The Walton siblings are now part of an exclusive group of 18 individuals valued at more than $100 billion. This elite club is led by Tesla CEO Elon Musk, Amazon founder Jeff Bezos, and Meta founder Mark Zuckerberg. While Alice Walton is the wealthiest woman on this list, other notable heiresses include Julia Flesher Koch and her family, valued at $76.8 billion. Flesher Koch is the widow of David Koch, a former co-owner of Koch Industries. Melinda French Gates, ex-wife of Microsoft co-founder Bill Gates, and MacKenzie Scott, previously married to Jeff Bezos, are also on the list.
In the retail sector, despite economic turbulence, disrupted supply chains, and consumer pressure, Walmart has continued to perform well, delivering strong shareholder returns and capturing increased market share. In its Q2 earnings call in August, Walmart reported revenue of $169.3 billion, a 4.8% increase compared to the same period the previous year. CEO Douglas McMillon highlighted gains in market share, particularly in general merchandise, and noted strong performance in the food sector and the U.S. health and wellness business, driven by sales of GLP-1 drugs. McMillon stated, “So far, we aren’t experiencing a weaker consumer overall.”
This optimistic performance has significantly boosted Walmart’s shares, currently trading at $81, up 53% year-to-date, and consequently has increased the fortunes of the Walton family. In contrast, the assets of Francoise Bettencourt Meyers have declined, with L’Oreal’s share price down 11% year-to-date at $395. However, L’Oreal’s financial health remains robust, reporting sales of €22.12 billion ($25 billion) in July, a 7.5% increase. CEO Nicolas Hieronimus emphasized that strong momentum in emerging markets, Europe, and North America has offset the weaker beauty market in mainland China and the unfavorable comparisons in travel retail.
