Alice Walton, the only daughter of Walmart founder Sam Walton, has become the world’s wealthiest woman with an estimated $89.1 billion fortune. She overtook Francoise Bettencourt Meyers of France, who briefly held the title of the first female centibillionaire in June. With Walmart stock at an all-time high, Walton now ranks as the 18th richest person in the world, one spot behind her brother Rob Walton. Despite selling a significant amount of Walmart stock and giving away billions of shares, the Walton family still owns nearly 46% of the company due to stock buybacks.
The Walton family’s fortune is split among Alice Walton and her siblings Jim and Rob Walton, with each of them worth billions. Rob Walton recently retired from Walmart’s board after more than four decades as a director, while Jim Walton transitioned to chair the family-owned Arvest Bank. Alice Walton, on the other hand, briefly worked at Walmart before focusing on curating art. She played a significant role in founding the Crystal Bridges Museum of American Art in Bentonville, Arkansas, which was funded by trusts in the names of her late brother John Walton and mother Helen Walton.
In addition to her work in the art world, Alice Walton has been actively involved in philanthropy. She has poured over $5.7 billion into family charitable foundations and her Art Bridges Foundation, which acquires and loans out works of American art to museums across the country. Walton’s latest venture, the Alice L. Walton School of Medicine, is set to welcome its first class in Bentonville in 2025. In a press release announcing her retirement as chair of Crystal Bridges in 2021, Walton expressed her desire to focus more on her roles in her various organizations.
Alice Walton’s rise to the title of the world’s wealthiest woman comes at a time when Walmart stock is performing well, with a 47% increase year to date. This success has contributed to her overtaking Bettencourt Meyers as the richest woman. The Walton family’s continued ownership of a significant stake in Walmart, despite selling and giving away billions worth of shares, demonstrates their long-standing connection to the company founded by Sam Walton.
Overall, Alice Walton’s wealth and philanthropic efforts have solidified her position as a prominent figure in the art world and in charitable giving. Her contributions to the Crystal Bridges Museum and various charitable foundations have made a significant impact, while her plans for the Alice L. Walton School of Medicine highlight her commitment to health and well-being initiatives. As she continues to focus on her various roles and organizations, Alice Walton’s influence in both the business world and the art community is sure to remain significant.
