Walmart Heir Jim Walton Achieves Centibillionaire Status

Walmart heir Jim Walton just got a new title—centibillionaire. On Wednesday, Walton's net worth inched over $100 billion for the first time, meaning he is now ranked 13th on the Bloomberg Billionaires Index. This remarkable milestone reflects a significant increase in his wealth, primarily driven by a rise in Walmart's stock prices.

Walton's dramatic rise in fortune is attributed to a 50 percent climb in Walmart stock, which caused his net worth to skyrocket by $28 billion, reaching an impressive $101 billion. Investors are optimistic, betting on stabilizing prices and falling interest rates, which have contributed to this upward trend in stock value.

Walmart, and Walton by extension, have also benefitted from consistent levels of customer spending. Bloomberg estimates that since 1992, Walton has earned more than $15 million in stock sales and dividends from Walmart, showcasing his long-standing connection with the retail giant. This financial journey positions Walton as one of the most prominent figures in the world of wealth.

With this massive fortune, Walton has become one of only 15 people in the world with a net worth exceeding $100 billion. This exclusive club includes names like Jeff Bezos, Mark Zuckerberg, and Elon Musk, who holds the title of the richest person globally with a net worth of $248 billion.

Jim Walton's siblings, Rob and Alice Walton, also feature significantly on the Bloomberg Billionaires Index, with respective net worths of $98.3 billion and $97.7 billion, making them 16th and 17th richest individuals. Collectively, the Walton siblings have a staggering net worth of $297 billion, surpassing even Elon Musk's wealth.

Walmart was founded by Sam Walton in 1962 when he opened the first "Wal-Mart Discount City" in Rogers, Arkansas. Over the decades, Walmart has transformed into a retail powerhouse, generating $600 billion in annual sales and employing 1 percent of the American workforce. As of September 2024, Walmart has a market value of $634 billion, solidifying its status in the retail industry.

The Walton family’s wealth originated from a strategic move by Sam Walton, who handed over 20 percent stakes to each of his four children in 1953. This decision has proved beneficial over the years. The family’s legacy continues to influence the retail landscape significantly.