Rob, Jim and Alice are the three children of Sam Walton, who founded a company that topped the Fortune 500 for over a decade.
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Alice, 74, co-owns one of these two organizations, Walton Enterprises, giving her a net worth of $101 billion.
Alice, a billionaire, is currently the richest woman on the planet. Bloomberg Billionaires List.
But she’s not the first woman to achieve the $10 billion title.
This summer, L’Oreal heiress Françoise Bettencourt Meyers was valued at $101 billion, but her fortune has since fallen to $88.2 billion.
Conversely, Alice’s fortune has increased by $30.8 billion this year alone.
Alice isn’t the only member of the Walton family to appear on the billionaire index: her brothers Jim, 76, and Rob, 79, are ranked 16th and 17th, respectively.
Jim became the first of the three to join the $100 billion club when his net worth jumped to $101 billion in the second week of September. As of this writing, his net worth is valued at $104 billion.
Rob also joined the club of people worth over $100 billion that week, and his current net worth is $102 billion.
The siblings now join an exclusive club of 18 people with a market capitalization of more than $100 billion, a group led by Tesla CEO Elon Musk, Amazon founder Jeff Bezos and Meta founder Mark Zuckerberg.
While Alice is the richest woman at the top of the list, there are several other heiresses below her. In addition to Bettencourt Meyers, Julia Flescher Koch and her family have a combined fortune of $76.8 billion.
Flescher Koch is the widow of David Koch, former co-owner of the multinational conglomerate Koch Industries.
Also on the list are Melinda French Gates, the ex-wife of Microsoft co-founder Bill Gates, and MacKenzie Scott, who was previously married to Jeff Bezos.
Walmart’s growth
Retail is in disarray across the US economy, disrupting supply chains and squeezing consumers.
But Walmart generated profits for shareholders and gained a larger market share.
the Second Quarter Financial Results Announcement In August, the group reported sales of $169.3 billion, up 4.8% from the same period last year.
“We continue to gain market share, including in general merchandise, with transaction volume and sales growth across our markets,” CEO Douglas McMillon said in the earnings call. “Food continues to perform well, improvement in general merchandise is encouraging, and our U.S. health and wellness business at Walmart and Sam’s Club contributed to strong same-store sales, primarily driven by sales of our GLP-1 drugs.”
“Right now we’re not seeing a weakening of the consumer overall.”
The optimistic outlook has boosted shareholder profits and the Walton family fortunes: Walmart shares are trading at $81 as of this writing, up 53% so far this year.
Conversely, Bettencourt Myers’ wealth has declined, and L’Oreal shares have fallen 11% this year to $395.
L’Oreal’s balance sheet is not unhealthy, but sales in certain regions are sluggish.
July L’Oreal reports sales figures 22.12 billion euros (about $25 billion), up 7.5%.
L’Oreal CEO Nicolas Hieronimus said: “Our continued strength in emerging markets, Europe and North America more than offset the decline in the mainland China beauty market and unfavourable travel retail comparisons.”
