Rob Walton, the eldest son of Walmart founder Sam Walton, has become the first member of America’s richest family to achieve a 12-figure fortune, with an estimated net worth of $100 billion. This milestone comes as Walmart stocks continue to soar, increasing by 54% year-to-date, as shoppers seek out the retailer’s “Every Day Low Prices” to combat high inflation. Rob Walton now ranks as the 16th richest person in the world, surpassing his siblings Jim Walton and Alice Walton, who have net worths of $98.8 billion and $91.3 billion, respectively. Alice Walton recently regained her title as the world’s wealthiest woman, surpassing L’Oreal heiress Francoise Bettencourt Meyers with a net worth of $87.4 billion.
Rob Walton joins a select group of individuals in the $100 billion club, including Elon Musk, Bernard Arnault, and Jensen Huang. Only a few individuals had achieved a 12-figure fortune in the past, with Jeff Bezos being the lone member just a year before Rob Walton’s achievement. Walton’s journey with Walmart began when he was just a teenager in 1962, helping his father establish the first Walmart store in Arkansas. He later joined the family business in 1978, eventually taking over as chairman after his father’s passing in 1992.
After more than four decades as a Walmart board member, including over 20 years as chairman, Rob Walton retired from the board in June. His son-in-law Greg Penner now serves as the controlling owner of Walmart and the NFL’s Denver Broncos, a team previously purchased by a group led by Walton for a record $4.7 billion in 2022. Despite selling billions of dollars of Walmart stock and donating billions more to various causes over the years, Sam Walton’s heirs still collectively own 45% of the company. Most of this stake is split between Rob, Jim, and Alice Walton, with the remaining shares belonging to the heirs of their late brother John Walton.
While Alice Walton focuses on philanthropy and art curation, Jim Walton remains involved with Walmart through his son Steuart Walton, who joined the company’s board in 2016. Jim also chairs the family’s Arvest Bank Group, which boasts $26 billion in assets. With Walmart stock on the rise, both Jim and Alice Walton may soon join Rob in the $100 billion club, as they continue to manage their vast family wealth and legacy.
