This post is written as part of AOL Money & Finance's Best & Worst 2006. If you wouldn't mind seeing the Waltons lose all their money, be sure to cast your vote.
The patriarch of the Walton family, the wealthiest family in the world, is Sam Walton, founder of retail giants Wal-Mart (NYSE:WMT) and Sam's Club. Forbes called him the richest man in the world from 1985 to 1988, and Time magazine listed him as one of the 100 most influential people of the twentieth century. Papa Walton received the Presidential Medal of Freedom in 1992 from President George H.W. Bush. When Sam died in April of 1992, his eldest son, Rob, succeeded him as chairman of the board. Sam's widow and other children, John, Jim, and Alice, all own shares in the company, and members of the family held five spots in the top ten richest people in the United States until 2005. It has been suggested that if Sam were still alive today, his wealth would be nearly double that of Bill Gates, fellow nominee in this category.
John Walton, a Green Beret, saw action in the Vietnam War and was awarded the Silver Star. He sat on the Wal-Mart board until he died in a plane crash in 2005, at which time he was worth an estimated $18 billion, tied with his brother Jim as the eleventh richest person in the world, according to Forbes.
Helen Walton, Sam's widow, and her daughter Alice each have an estimated net worth of around $18 billion. Jim Walton's estimated net worth is around $15 billion. The daughters of Sam's partner and brother, Bud Walton, also hold shares in the company and are billionaires as well.











Reader Comments (Page 1 of 3)
12-09-2006 @ 11:14AM
Biily F. Martin said...
I have mixed emotions about the Walton family. Their stock has served me well since I bought it in 1981. Even in my meger way I have tried to "give back" a little of the money I've made from it even if most of it has been to help my children and grandchildren along the way. I don't think that has been the case with the Walton family overall. Maybe the "U-Haul" theory of "carrying it with you" in death is true?
Billy Martin Henderson,Tex.
12-16-2006 @ 1:36AM
Mary said...
If Wal-Mart was still being run Sam Walton way, the company would still be a success.
He respected his workers from all levels, and that respect and hard work paid off, more than anyone could have dreamed.
Someone should fire the ones who are trying to ruin this company, and who are spitting on Sam's grave.
12-11-2006 @ 7:39AM
Jack Schneider said...
RIGHT ON MARY
12-11-2006 @ 2:03PM
John Emmick said...
Wal-Mart was an excellent buy right after the big sell off in the 1980's... You could bet the stock would split numerous times during the recovery phase... My initial buy was 200 shares... In a short span of time, those shares multiplyed to over 800 shares due to 2 for i stock splits... Sam Walton died... New Management decided that growth was the way to improve your investment.. Started and continued the expandsion program at the expense of stock splits.... Today, Wal-Mart pays very little divend because of the large amount of cash money required to cover their multi national Capital Investemts.... I'm sorry to say, Sam Walton would have a fit if he knew how his company has evolved...
12-13-2006 @ 6:07PM
Stan said...
The Walton family does not deserve the untold Billions that they received from Sam Walton. As it was pointed out I believe on a 60 minute program, the Walton are among the cheapest billionaire when it comes to charity. Most of the charitable funds that are donated by Walmart come from the corporation and its employees not the family. One note on the blog that Walmart pays a very low dividend because its capital expansion. Not true, it pays a very low dividend because the Walton family owns approximately 40% of the stock and controls the board. Since the Walton family controls approximately 40% of the stock or 1,667,210,000 shares even a small 1.4677% dividend pays the family approximately $ 1,117,030,000 per year. Thats right 1.1 billion in dividends without any work or effort put forward. Why should they pay out more in dividends to other shareholders. They really only care about themselves. Just look how the employees are treated. Also keep in mind the largest contributor to the Lobby Group in Washington to eliminate hiertance tax, guess who, the Walton Family. I agree Sam Walton must be turning in his grave.
12-14-2006 @ 8:04AM
WALLY said...
WE CAN ONLY SPECULATE WHAT SAM WOULD DO TODAY. SAM MADE BILLIONS HIMSELF WHILE ALIVE. HE DID IT WITH HARD WORK IN A COUNTRY THAT WILL REWARD SUCH EFFORT. PEOPLE WHO HAVE ILL FEELINGS TOWARD THE WALTONS SHOULD ASK THEMSELVES WHAT THEY WOULD DO IF IN THAT POSITION. I THINK IT'S HUMAN NATURE TO ENVY SUCCESS AND WANT TO FIND FAULT WITH IT AT ANY LEVEL. IF ANYONE THINKS RICH PEOPLE SHOULD GIVE IT ALL AWAY I SUGGEST THAT YOU BECOME RICH AND GIVE IT ALL AWAY TO SET AN EXAMPLE.
12-14-2006 @ 9:40AM
Mike said...
No one is asking the family to give away their money. However, the current management is in no way following in Sam's footsteps. His employees appreciated him because he never felt that he was above them, he provided a quality product for a fair price, and he rewarded his investors with a fair return on their money. He outperformed his competition by being better, not by having more stores. He would never put one of his stores in a town that didn't want his store. Eventually, Walmart will be another target for a leveraged buy-out because of debt due to growth.
12-14-2006 @ 9:49AM
lou brehm said...
The Walton's are awash in money while their employee's work for little money, meager if any benefits including health insurance. Meanwhile the Republican establishment has rewarded them with liberal tax breaks. Outsourcing American jobs to China is not helping this country. We are paying high price to save a few percentage points on goods purchased. Meanwhile the family fortune continues to grow and grow and grow, to what end ? In my area Wal Mart is taking over retail with agressive businesses, building more stores than anybody wants. It's hard to compete with slave labor and cheap foreign dumping. If this is the America of the future, I want no part of it. One percent of the country controlling most all of the money, this is democracy ?
12-14-2006 @ 12:44PM
Julie Pierce said...
Now it is "The Walmart Way Not Sam's Way"
The company is in a downward spiral and won't even listen to suggestions for free.
The don't have the time for the associates or the customers and don't have the staff for the stores they rely on vendors more now than ever before and salaried management is so busy that if the corporate offices release anything that makes it look as if they are trying to resolve things for the workers they are not.
They cannot find the time as assistant managers are now also stockers.
The corporate offices don't care. They have made theirs.
12-14-2006 @ 2:25PM
Rhonda said...
I work for Wal Mart and what the Walton family is doing for the employees that help make them the billionaires they are today is WORTHLESS. Everyone thinks that the employees get these GREAT benefits and discounts. Yeah sure we get 10% off CERTAIN items, but not everything. The benefits have decreased in the years since sam's death and a Christmas bonus??? FORGET IT!!! When sam was alive, he went to the stores and talked to the employees and valued their input, now you can't even talk to the local store managers without reprecutions.
12-14-2006 @ 8:30PM
R. Villere, Bossier City, Louisiana said...
Does anyone remember "Bring it home to the USA" - Jobs for Americans.....
12-14-2006 @ 9:57PM
bobfields said...
Walmart has helped put the American way of life into the grave. Companies have been bankrupted because of the predatory actions of this company by demanding the lowering of the prices of goods to the point of no return. Rubbermade (?) was one prime example of this. When Rubbermade (?) sold off their assetts, the Chinese were there to buy the machinery to make the same products but at a very low price in China and that enhanced the stockholders of Walmart.
12-14-2006 @ 10:43PM
al hays said...
Walmart sucks. nuff said...
12-14-2006 @ 11:13PM
Allie said...
I live in a town in Missouri where one of the walton daughters lives. We now have 5 walmart stores for a town of less than 100k people, one of whivch was delayed for a year because the people in the neighborhood where they were trying to build it got an injunction against them. The store was built accross the street from a retail grocery chain store. Every other store in town that has had a walmart within a block of it has gone bust. They Don't Care for even their own home town. They donated money to MU last year for a new football stadium, to be named after their daughter, but the name was changed after it was discovered that she cheated on exams and homework. As people, they suck.
12-14-2006 @ 11:24PM
Elizabeth said...
No one in the corporate echelons of America gives a damn about anyone but themselves anymore. The "great economy" of the past several years made a few disgustingly wealthy, meanwhile failing to pass it on to the majority.
I worked for Countrywide Home Loans for the past few years. Many people made A LOT of money off MY blood, sweat and tears as a branch-level operations employee (much like the Wal-Mart store employee). Meanwhile, I struggled to pay my bills and developed serious health problems from the stress of working around the clock, being told it still wasn't good enough. Then when the market cooled and I was completely used up and burned out, they showed their appreciation by firing me.....a blessing, actually.
This decade is going to be remembered in history as the one in which corporate greed killed America by destroying the middle class.
How many have a similar story? Are you pissed?? I AM!
12-15-2006 @ 2:43AM
Yolanda Carrillo said...
Wal-Mart exploits their employees. Therefore, the Waltons should lose all their money. It would be wonderful if all the associates (clerks, warehouse workers, etc.) would get an even share of all the Walton's money. Than justice would be done.
12-15-2006 @ 3:43AM
kristi said...
I think it is important to remember that Wal Mart, the Walton's and stockholders are successful mainly because they have been successful in closing down many mom and pop stores. They have been very successful in helping the decline of manufacturing in this country. Most of Walmart's goods come from communist China. There is virtually no manufacturing left in this country, primarily because of Wal Mart. According to data from last year, Wal Mart was responsible for 12% of China's economy.
Think about Bob who used to work and make a living at the Wrangler Jeans factory, who now must work two jobs, one at the 7-Eleven store and one at, oh yeah that's right, Wal Mart, just to support his family.
Meanwhile, the Waltons are laughing all the way to the bank.
12-15-2006 @ 4:27AM
Scott said...
All I hear is whinning. You don't want to work for Wal-Mart don't. Geez, you think because you have a high school education you should make a 30 dollars an hour? You don't like how a business is run, start your own business. Don't like how you are treated quit and start your own business.
12-15-2006 @ 1:24PM
Matt said...
Whinning???? It is our god given right as Americans to state our opinions. You must work for one the Waltons, Scott,or a family similar to them.
12-15-2006 @ 7:44PM
al hays said...
Walmart is cheap... as is their mostly junk items thru the store. China specials.
Al Hays 12/15/06