The Walton family empire: Inside the lives of the billionaire Walmart heirs

The Walton siblings.AP/April L. BrownThe Walmart heirs' combined estimated net worth is nearly $400 billion.All three of Sam Walton's surviving children have made it well into the $100 billion club.In public, the Waltons live relatively modest lifestyles despite their wealth.All three of Walmart founder Sam Walton's surviving children are comfortably in the $100 billion club as the retail giant's share price continues to deliver strong performance.Their father's company continues to make headlines, as it became the first major retailer to announce it planned to raise prices in response to President Donald Trump's tariffs on imports.The combined wealth of the Walmart heirs — which includes founder Sam Walton's children, Rob, Jim, and Alice, as well as his grandson Lukas — is nearly $400 billion, according to the Bloomberg Billionaires Index.Together, they're significantly ahead of the top individual names on the list, such as Jeff Bezos, Larry Ellison, or Mark Zuckerberg — even Elon Musk.While some have worked in the family business, serving on the company board or working to manage the family's wealth, others chose to pursue areas of personal passion.Ahead of his death, Sam Walton, the original man behind the company that now encompasses both Walmart and Sam's Club, set his family up for financial success when he divided the ownership.Most recently, the Walton children have expanded voting control to their own, giving eight of Sam's grandchildren a say in the family holdings.Sam wasn't a man of flashy luxury, but you can see how his children are living a slightly more lavish life now. Here's a look at how the Walton family empire spends its money: Sam Walton opened the first Walmart store in Rogers, Arkansas, in 1962.The original Wal-Mart name tag used to look like this one, worn here by Sam Walton.Associated PressAs he grew his retail empire, Walton, an experienced pilot, would often fly in unannounced to check in on a particular store location.He married Helen Robson on Valentine's Day in 1942.Sam and Helen had a Valentine's Day wedding.April L. Brown/Associated PressTogether, they had four children: Rob, John, Jim, and Alice.By the time Sam died in 1992, he had set up the company ownership in a way that minimized the estate taxes anyone on the receiving end would have to pay.Sam Walton died at the age of 74 of cancer.Rick Wilking/ReutersSource: FortuneHe set up his ownership of Walmart's stock in a family partnership.The stocks were carefully divided among the family.Courtesy of WalmartEach of his children held 20% of Walton Enterprises, while he and Helen each held 10%. Helen inherited Sam's 10% tax-free when he died.Samuel Robson "Rob" Walton is the oldest Walton child. He is 80 years old.Rob served as chairman of Walmart for many years.ReutersRob Walton's net worth is $118 billion, according to Bloomberg.He served as chairman of Walmart from 1992 until 2015 and remained on the board until this year.He'll retire from the board in 2024.Rick T. Wilking / Stringer / Getty ImagesRob retired from Walmart's board at the end of his term in 2024.Rob made a splash in 2022 by leading an ownership group to buy the Denver Broncos.The group was led by Rob Walton, his daughter Carrie Walton Penner, and her partner Greg Penner.Joe Mahoney/APThe group purchased the NFL team for $4.65 billion in summer 2022, a record-breaking sale at the time.Rob has purchased a house in Paradise Valley, Arizona, near the base of Camelback Mountain.Walton owns a house in Paradise Valley, Arizona.Tim Roberts Photography/ShutterstockIn the past, protesters have rallied outside his Arizona home to advocate for increased wages and added benefits for Walmart workers.Besides real estate, Rob has a large collection of vintage cars.Walton's Daytona Coupe was totaled in a crash.AP Photo/Tom MihalekIn 2013, he ran his Daytona Coupe, which was worth $15 million at the time, off the tracks and wrecked it. The car was one of only five ever made.Sam Walton's second-oldest child, John Walton, died in a plane crash in 2005.John (right) with his mother (center) and older brother, Rob (left).April L. Brown/Associated PressJohn, who was 58 years old, was survived by his wife, Christy, and son, Lukas. He left about 17% of his wealth to Christy and gave the rest to charity and Lukas.After serving in Vietnam as a Green Beret, John returned and held a series of jobs with Walmart.John (second from left) pictured with members of his family.AP Photo/Spencer TireySome of John's roles included Walmart company pilot, crop duster, and owner of a few yachting companies, before becoming a Walmart board member.In 2013, Christy decided to sell their Jackson Hole mansion.The family had a mansion in Jackson Hole, Wyoming.Jackson Hole Real EstateShe also sold the family's ranch for an undisclosed price in 2016 after listing it for $100 million in 2011, according to Curbed and Ranch Marketing Associates.James "Jim" Walton is the youngest son of Walmart founder Sam Walton.Jim Walton is now 76.WalmartJim is 76 years old and worth $121 billion, according to Bloomberg.Jim is chairman of the board of the family's Arvest Bank Group.One of many Arvest Bank locations in Bentonville, Arkansas.Google MapsOne of the state's largest banks today, Arvest Bank has assets totaling more than $26 billion, according to Bloomberg.He also served on the Walmart board, starting in 2005 to fill the vacancy after his brother John died.Jim served on the board for more than a decade.Rick T. Wilking/Stringer/Getty ImagesJim Walton's son, Steuart, took over his father's seat on the board in 2016.Now, Jim presides over Walton Enterprises.Jim now manages the family's finances.Google MapsThe private company deals with the investments and finances of the Walton family only, from modest offices in Bentonville, Arkansas.Alice is the youngest of founder Sam Walton's children.Alice Walton is the youngest of Walmart founder Sam Walton's children.AP/April L. BrownAlice Walton is 75 years old and worth $118 billion, according to Bloomberg. She has been divorced twice and has no children.Alice has never taken an active role in running the family business.Alice Walton with Jim Walton in 2013.REUTERS/Rick WilkingInstead, she became a patron of the arts, which she fell in love with at a young age.When she was 10, she bought her first work of art: a reproduction of Picasso's "Blue Nude."Picasso's "The Blue Room."Evan Vucci/Associated PressShe told The New Yorker she paid about $2 for the piece.She now has an immense private art collection.The museum displays both paintings and sculptures, like this one by Alexander Calder (center).Danny Johnston/Associated PressAlice's collection has featured original works from Andy Warhol and Georgia O'Keeffe and is estimated to be worth more than $500 million. She also opened a museum in Bentonville called Crystal Bridges in 2011 to house it.The collection includes a Georgia O'Keeffe painting that Alice spent $44.4 million on in 2014.Georgia O’Keeffe, "Jimson Weed/White Flower No. 1" (1932), Sotheby's.Courtesy of Sotheby'sThe sale represented the highest price for a woman's piece of art in history, according to The Observer.Her Millsap, Texas, property, Rocking W Ranch, was sold to the Three Amigos Investment Group of Kermit, Texas, in September 2017 for an undisclosed amount.Alice Walton's ranch was called Rocking W Ranch.Courtesy of WilliamsTrewIt had an initial asking price of $19.75 million, which was reduced to $16.5 million. The working ranch had over 250 acres of pasture and outbuildings for cattle and horses, according to the Fort Worth Star-Telegram.Her other ranch, a 4,416-acre Texas property, was previously listed at a reduced price of $22 million.A huge fire pit was built in the backyard.Courtesy of WilliamsTrewThe comparatively modest, three-bedroom, two-bathroom home overlooks the Brazos River.Alice also bought a two-floor condo on New York's Park Ave. for $25 million in 2014.View of Central Park from the southeast.evenfh/ShutterstockIt has more than 52 large windows overlooking Central Park, plus a media room, a winding staircase, and more than 6,000 total square feet of space.In January 2016, Alice donated 3.7 million of her Walmart shares — worth about $225 million at the time — to the family's nonprofit, the Walton Family Foundation.The Walton Family Foundation website.Facebook/Walton Family FoundationThe charity awards millions of dollars in grants to causes that align with the foundation's values.Sam and Helen started the foundation in 1987.The Walton Family Foundation was established in 1987, when Walmart celebrated its 25th anniversary.Walton Family Foundation/YouTubeThe Waltons saw the foundation as a way to teach their children how to give back and how to work together.The foundation's focus on education was initially led by John.The foundation was dedicated to supporting children's education.Walton Family Foundation/YouTubeHis brother Jim said John was really interested in being able to give parents choices when it came to their child's schooling.Rob spearheaded the foundation's venture into environmental protection.Rob launched the environmental and sustainability branch of the foundation.Walton Family Foundation/YouTubeOne of the first grants the foundation gave helped develop a sustainable fisheries label.A commitment to the family's home of Arkansas is another large part of the foundation.The Bentonville town square.Walton Family Foundation/YouTubeThe website says this area of focus is about "advancing our home region of Northwest Arkansas and the Arkansas-Mississippi Delta."Walmart Inc., which owns Walmart and Sam's Club, is the largest retailer in the US in terms of revenue.Walmart reported $681 billion in revenue last year.Business Insider/Jessica TylerThe company reported $681 billion in revenue for the past fiscal year, keeping just ahead of Amazon for the top spot in the Fortune 500.Even though the Walton family is earning billions from the company's success, they remain relatively under the radar.The Walton siblings.AP/April L. BrownMuch like their patriarch, Sam, the siblings aren't flashy about their wealth.In December, Walmart disclosed that Sam's children had granted voting rights to eight of their own children.Sam Walton flying a plane in the late 1980s or early 1990s.Walmart MuseumThere are now eight descendants of Sam Walton guiding his fortune and keeping his vision for his legacy.Read the original article on Business Insider

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