Walmart’s surge just added $12 billion to the Walton family’s wealth

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Thomson Reuters

Walmart skyrocketed more than 10% Thursday following the grocer’s earnings report that crushed analysts expectations, adding a cool $11.6 billion to the founding family’s wealth.

The richest family in the United States – which owns about 48% of the US’ largest grocery chain through Walton Enterprises – saw their net worth surge to $163.2 billion, Bloomberg first reported.

On an individual basis, Jim Rob and Alice Walton – the heirs of Walmart’s co-founder Sam Walton – are worth between $42.1 billion and $43.8 billion, according to Bloomberg’s Billionaires Index. Lukas, Sam Walton’s grandson, is worth $15.3 billion. Two other family members, Christy Walton and Nancy Walton Laurie, are worth $6.89 billion and $4.66 billion, respectively.

Unsurprisingly, much of the family’s wealth is tied up in Walmart, which has had a volatile start to the year. Tuesday’s gains, fueled by growth in both traditional groceries as well as e-commerce, bring the stock back near its January highs of $109. While none of the heirs are actively involved in Walmart’s day to day operations, they retain an outsized-presence on the company’s board.

Shares of Walmart are up about 1% since the beginning of the year.

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Markets Insider