The eldest son of Walmart founder Sam Walton, Rob Walton, has become the first member of America’s richest family to amass a 12-figure fortune. With Walmart stocks soaring to an all-time high, Rob Walton’s estimated net worth has reached $100 billion. This makes him the 16th richest person in the world, ahead of his siblings Jim Walton and Alice Walton, who are worth $98.8 billion and $91.3 billion respectively. Alice Walton recently reclaimed the title of the world’s wealthiest woman from L’Oreal heiress Francoise Bettencourt Meyers.
Rob Walton is now part of a select group of 15 individuals with fortunes exceeding $100 billion, including Elon Musk, Bernard Arnault, and Jensen Huang. He joined Walmart after his father opened the first store in 1962 and took over as chairman after his father’s passing in 1992. Walton retired from Walmart’s board last June after over four decades as a director, with his son-in-law Greg Penner taking over as chairman. Penner also replaced Walton as the controlling owner of the NFL team Denver Broncos in 2022.
Despite selling billions of dollars worth of Walmart stock and donating over $11 billion in shares, Sam Walton’s heirs still hold a 45% stake in the retailer. The family’s stake has been preserved due to stock buybacks, with most shares being split between Rob, Jim, and Alice Walton, and the heirs of their late brother John Walton. While Alice Walton focuses on art and philanthropy, Jim Walton remains involved in the family’s Arvest Bank Group and may soon reach the $100 billion mark through stock appreciation.
The prestigious $100 billion club was previously exclusive to a handful of individuals before growing in recent years. Rob Walton’s wealth has been fueled by Walmart’s success, with share prices increasing by 54% this year as shoppers seek affordable prices amid rising inflation. With Rob Walton leading the pack, the Walton family’s remarkable fortune continues to grow despite selling and donating substantial amounts of stock. This underscores the enduring legacy of Sam Walton’s vision that has made the family one of the wealthiest in the world.
