The fortunes of the Walton family — the pioneers of American bargain shopping — have reached
new heights during a pandemic that has otherwise obliterated trillions of dollars of value across global markets.
The combined net worth of siblings Alice, Jim and Rob Walton has climbed 2.6% this year to $165.7 billion as recession-wary shoppers flock to Walmart Inc stores to stock up on pantry staples. The retailer’s shares jumped 6.1% through Monday, compared with an 18% drop for the S&P 500 Index.
The Bentonville, Arkansas-based company’s dominance of mass-market retail has made its controlling shareholders the world’s richest family. The Waltons own about half of the stock.