This post is part of our feature on Money Winners of 2008. See all 20.
Think you could live comfortably on $23 billion? That's what each of the four Walton heirs live on today thanks to the company built by their father or father-in-law Sam Walton -- Wal-Mart (NYSE: WMT). Walton heirs were beat out by only three other billionaires for the top spot on the Forbes 400 Richest Americans list in 2008 -- William Gates, Warren Buffett, and Lawrence Ellison.
Only two of the Walton heirs have anything to do with the company from which they get their riches. S. Robson Walton is chairman of the board and he has served on the Wal-Mart board since 1978. Jim Walton is a member of the board, which he joined in 2005. Alice and Christy Walton, who are not involved in the running of Wal-Mart, do get the richest women in America title thanks to their Wal-Mart holdings. The Walton heirs recovered from a rough spot in 2006 when their stock holdings dropped to $18 billion and they fell to 17 to 20 on the Forbes list.
So who are are Walton heirs?
Jim Walton ($23.4 billion and #4 on the Forbes list), son of Sam Walton, is 60 years old and married with four children (future Walton heirs). He lives in Bentonville, Ark., and chairs the Arvest Bank Group. He got his BA at the University of Arkansas. He joined the Wal-Mart board in 2005.
S. Robson Walton ($23.3 billion and #5 on the Forbes list), son of Sam Walton, is 64 years old and married with three children (more future Walton heirs). He too lives in Bentonville. He received his BA at the University of Arkansas and his Doctor of Jurisprudence at Columbia University. He is the chairman of the Wal-Mart board and helps the company become eco-friendly through its partnership with the environmental group, Conservation International.
Alice Walton ($23.2 billion and tied for #6 on the Forbes list), daughter of Sam Walton, is 59 years old. She has been divorced twice. She got her BA at Trinity University of San Antonio and lives in Fort Worth, Tex. She is building the Crystal Bridges Art Museum of American Arts in Bentonville, Ark., due to open in 2009. She's never been involved in the operations of Wal-Mart.
Christy Walton ($23.2 billion and tied for #6 on the Forbes list), widow of John Walton (who died in 2005 when his ultralight aircraft crashed), is 53 years old and has one child. She lives in Jackson, Wy. She donated her 7-acre San Diego home to Cross Border Philanthropy.
Be sure to check out more Money Winners of 2008.











Reader Comments (Page 1 of 1)
12-13-2008 @ 11:06AM
Irish said...
Are you fricken kidding me? Alice Walton has never been involved in Wal-mart's operations and she's currently worth over 23 BILLION dollars? What the H*LL is wrong with this world? All of these billions have been made off the backs of cheap foreign laborers and the middle class of the U.S. and they pocket it? When will it be enforced that these manipulating greedy corporations GIVE BACK to their own country? We have schools deteriorating, streets and bridges falling apart, cities going bankrupt, companies closing down and soaring unemployment, taxes skyrocketing, a health care system totally ineffective, and a nation falling into poverty and these Wal-mart reps have billions! It should be LAW that these companies GIVE BACK to the country it STEALS from.
12-13-2008 @ 11:41AM
thedude said...
Four people who are arguably useless are worth a combined total of over 92 BILLION and yet the average Wal-Mart employee earns minimum wage at best. If each of these scumbags cut their fortunes down to just 3 BILLION (could you live comfortably on 3 BILLION ? I think I could eke by) They would then be able to apply $80,000.00 PER EMPLOYEE towards a decent health care plan and maybe even a small raise
The US needs to embargo ASIA (read China and India) for ten years put WalMart out of business and concentrate on rebuilding our own manufacturing base and returning to our roots of the corner store owned and operated by people who live in the comunity
12-13-2008 @ 6:52PM
Patricia said...
Sigh- I do not understand why fulfilling the American dream is "stealing". Mr. Sam started with one 5 and dime in 1962 and built an empire. He left the rewards to his children. I guess all people who inherit money need to have it taken away and given to the government, who, of course, will manage it well. And lets bring back the "corner store". They employed about 6 people, mostly family, opened and closed at whim, and charged what they liked. I am sure it will be the best for a community to close all the Wal-Marts and throw 400 to 500 out of work so those 6 can have a job. Too bad no one here has the facts. Starting pay at Wal-Mart is at least $2 an hour above minimum wage. The health insurance is mind-blowingly cheap. Get the facts before you start with the liberal rants.
12-13-2008 @ 8:17PM
Alex said...
Jonquiere Quebec, Jacksonville Texas and Gatineau Quebec will only be a few of the locations that Walmart will get its infamous legacy from.
How such a rich greedy family can live like kings while they poor Walmart workers are held to the lowest level of existence is beyond me.
Walmart has encouraged North American manufacturing jobs to leave so that slave labour working conditions can be exploited in third world countries.
Walmart is the cancer that represents the business evil in this world.
12-14-2008 @ 4:21PM
Izzy said...
Yeah, well i have to agree with Patricia. The fact is the Waltons did what alot of us have dreamed about at one point or another. Really givin 1 billion dollars would any of you turn around and worry about how i was doing? Yeah i thought so. I beleive that's whats wrong with world, we talk and talk but when it comes down to it, we are unwilling to walk.
12-27-2008 @ 1:06AM
gillsfemmegirl said...
Hmmm...let me guess all you whiners are liberals. I think it is a testament to hard work and the American spirit that the children of a man who built his own empire are so wealthy. Why should they forced to give it to anybody? Because they have it and you don't? If you don't agree then maybe you need to go start your own company and build it into a GLOBAL empire in less than 30yrs. and then we will see if you feel any different.
12-26-2008 @ 7:25PM
gillsfemmegirl said...
Hmmm..let me guess you all are liberals. The legacy of one of the greatest businessmen of the 20th century is a testament to hard work and the American spirit. Why should they have to give away what their father has built? Because they have it and you don't? If you think that you would do things differently then why don't you go start your own company and turn it into a GLOBAL empire in less than 30 years? Sam Walton was one of the greatest businessmen of the 20th century and his family deserves everything they have and everything they will get.
12-31-2008 @ 7:45AM
Sharlon said...
I always get a kick out of people who support all the negative things Wal-Mart does to it's employees . (yes i know there are good things too) Why people do not realize that Wal-Mart is one of the largest receivers of welfare I don't know. Where do I get that? I used to work helping find low income housing for people. Many of them worked at Wal-Mart. (percentage wise more than any other company of the applicants I worked with, well more) So taxpayers provide low income housing for Wal-Mart employees and often other social services. YOUR tax money enables Wal_Mart to provide low paying jobs. I don't know about rural areas but no one can provide themselves with life's basics in a large city working at Wal-Mart. Yes I know some will say they should go to school. Some people were not blessed with the intelligence to be able to succeed in school so they are doing the best they can.
If you make a decent living and shop at Wal-Mart you really aren't getting a good deal. Yes the goods may be lower in price but you are also paying to take care of Wal-Marts employees through social services. Sort of like a Wal-Mart bailout that never ends.