The Walton family's cash accounts are a whopping $1.5 billion bigger after they sold nearly 9 million shares of Walmart stock last week, according to SEC filings.
In a series of three transactions, the heirs to Walmart founder Sam Walton cashed in as the company's stock price rallied toward record highs.
The latest sales bring the Walton family's total proceeds to nearly $2.3 billion from Walmart shares in the span of three months, the disclosures show.
When asked for comment, Walmart referred Business Insider to a 2015 statement from Walton Enterprises announcing a plan to sell shares "from time to time" as a way to keep the family's ownership below 50% of the company and to fund charitable initiatives.
Walmart's share price boom since 2016 has added more than $100 billion to the combined wealth of siblings Rob, Alice, and Jim Walton, making them by far the world's wealthiest family.
With a combined net worth of $226.3 billion, the three Waltons are collectively wealthier than Tesla CEO Elon Musk's $209.8 billion, according to Forbes as of Monday.
When joined by the rest of the Walton clan, that wealth balloons to about $267 billion — far more than the next wealthiest family, the Mars candy heirs.
Last week's sales still won't make much of a dent in the Waltons' total shares, which account for about 45% of the whole company. And thanks to a three-to-one stock split on Monday, their reserves of some 1.25 billion shares are now a stockpile of about 3.75 billion.
In dollar terms, the Waltons' holdings remain unchanged after the split, but Walmart expects a new share price of around $60 to be more affordable for rank-and-file employees and other investors looking to buy stock in the company.
Walmart employs 1.6 million workers in the US, with over a half million more around the world. The median employee's annual compensation in 2023 was $27,136.
"Sam and Helen both wanted all of our associates to participate in the upside of the company," Walmart CEO Doug McMillon said last month in a company podcast.
"What Sam was thinking was, 'Let's keep the price point in a range where it makes sense and it feels accessible,'" he added. "It just feels better to buy a share as opposed to a fraction of a share."
McMillon said more than 400,000 employees participate in Walmart's share-purchase plan.
FAQs
Members of the Walton family sold roughly $1.5 billion worth of Walmart Inc. stock at the end of last week as shares hovered near a record high. The Walton Family Holdings Trust sold about 8.82 million shares between Feb. 21 and Feb. 23, according to US Securities and Exchange Commission filings from late Friday.
Did the Walton family just sell 4.5 billion of Walmart stock? ›
Walton family sells over $1.5 billion in Walmart stock.
What percent of Walmart stock is owned by the Walton family? ›
The Walton family owns about 45% of Walmart's outstanding shares through the trust and their main investment vehicle, Walton Enterprises, data compiled by Bloomberg show. Alice, Jim and Rob Walton have a combined fortune of $274 billion, according to the Bloomberg Billionaires Index.
Who are the heirs to the Walmart fortune? ›
He and his two siblings have more than doubled their money since 2016, adding more than $100 billion to their combined fortunes. Legendary founder Sam Walton's three surviving children — Rob, Jim, and Alice — all rank highly on the Forbes rich list with personal fortunes of between $72 billion and $79 billion.
Why is everyone selling Walmart stock? ›
The reasons to sell Walmart
The bears believe Walmart's stock is historically expensive now -- it traded at less than 20 times earnings throughout most of the 2010s, and it's pricier than most of its industry peers.
Who owns 50% of Walmart? ›
It is a publicly traded family-owned business, as the company is controlled by the Walton family. Sam Walton's heirs own over 50 percent of Walmart through both their holding company Walton Enterprises and their individual holdings.
Who owns the biggest stock in Walmart? ›
Jim Walton, Alice Walton, and Rob Walton are the top three individual shareholders of Walmart. Walmart's largest institutional investors include the John T. Walton Estate Trust, Vanguard Group, and BlackRock.
How much of Walmart does China own? ›
However, when it comes to the ownership of Walmart stores in America, there is no evidence to suggest that China holds any ownership stake. Walmart, a multinational retail corporation, was founded by Sam Walton in 1962 and is still largely controlled by the Walton family.
How many shares of Walmart does Bill Gates own? ›
CURRENT PORTFOLIO
| Ticker | Company | Number of Shares |
|---|
| DE | Deere & Co. | 3,557,378 |
| ECL | Ecolab Inc. | 5,218,044 |
| KOF | Coca-Cola Femsa SAB de CV | 6,214,719 |
| WMT | Walmart Inc. | 9,090,477 |
18 more rowsMar 12, 2024
World's third richest person Warren Buffet's Berkshire Hathaway has sold its last Walmart shares, ending a relationship of over 20 years. The world's largest retailer was once among Berkshire's five biggest equity holdings as recently as 2014, valued at over $5 billion.
Walmart heiress Alice Walton is the second-richest woman in the world, with an estimated $84 billion net worth. She spends some of her fortune collecting art, including opening a museum, and breeding horses. Here's a look at her life, career, and fortune.
Who is Walmart heir wife? ›
Who is the billionaire heiress of Walmart? ›
Alice Louise Walton (born October 7, 1949) is an American heiress to the fortune of Walmart as daughter of founder Sam Walton.
Did the Waltons just sell stock? ›
The Walton family sold nearly 9 million shares of Walmart stock last week for over $1.5 billion. The sale brings the family's total proceeds to nearly $2.3 billion in the span of three months.
How much is the Walton family worth today? ›
The Waltons are the second richest family in the world with a fortune estimated at $259.7 billion thanks to their massive stake in Walmart (and only recently, in 2023, were usurped by the Al Nahyan family for the top spot.)
Did the CEO of Walmart sell stock? ›
Walmart Inc. (NYSE:WMT) President and CEO C. Douglas McMillon has sold a portion of his company stock, according to a recent filing with the Securities and Exchange Commission.
Who owns Walmart other than the Waltons? ›
The largest shareholder of Walmart is the Walton family, who owns more than half of all Walmart shares. The second largest shareholder in Walmart is the Vanguard Group, who holds around 5% of total Walmart shares.
