S. Robson, Alice and Jim C. Walton (Image: Getty)
When it comes to the world’s richest families, many may think the British Royal Family tops the chart, particularly when including the estate which manages the monarchy’s property – the Crown Estate. Others may place their bets on the Kardashian family, which have acquired global stardom through their enterprises and reality TV.
However, one family dwarves the wealth of both the royals and the Kardashians combined – estimated to be around £22billion and £2bn respectively: the Waltons.
The Waltons are not just the richest family in the United States, but the wealthiest in the entire world. With a net worth of nearly $350billion (£281bn), their fortune is built on the success of their multigenerational business, Walmart.
In less than 60 years, the company expanded from one store to nearly 12,000.
Brothers Sam and Bud Walton founded the corporation after serving in World War 2. They started by franchising Ben Franklin variety stores in Missouri and Arkansas. These five-and-dime chains proved so successful that Sam decided to launch his own chain.
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Walmart Holds Annual Multi-Day Shareholders Meeting In Arkansas (Image: Getty)
In 1962, Sam, along with his brother Bud, opened the first Walmart, now a multinational retail corporation.
From that point, the company experienced rapid growth.
With Sam as CEO and Bud as Senior Vice President, Walmart went public in 1970, and by 1977, the company had 190 stores across the United States.
By 1990, Walmart had surpassed Sears to become the largest retailer in the country.
Before passing away in 1992, Sam was awarded the Medal of Freedom, and his brother Bud passed away in 1995.
However, this wasn’t the end of the Walmart legacy. Their family took over the business and inherited billions of dollars.
While many of the Waltons remain focused on running the empire, Walmart is not the only business they are involved in.
Before opening Walmart, Sam had founded Arvest Bank, which is now owned by his son Jim. The bank’s total assets are worth over £14.6bn.
Sam’s daughter Alice is the richest woman in the world and spends her time curating art.
Her collection is estimated to be worth £406million, housed in a museum in Arkansas. Notable works include pieces by artists such as Norman Rockwell, Georgia O’Keeffe, and Andy Warhol.
Alice’s brother, John, had a more adventurous spirit.
He dropped out of college to serve as an Army Green Beret during the Vietnam War, for which he was awarded the Silver Star for bravery in combat. John later founded a sailboat manufacturer, a loan firm, and a children’s scholarship fund.
Before his tragic death in a plane crash in 2005, John’s scholarship fund had helped more than 67,000 children, and it continues to do so today.
Samuel Robson Walton, known as Rob, was president of Walmart but now sits on the board of Conservation International. In 2016, the nonprofit awarded over £90m to programmes that focus on environmental protection and conservation.
The Walton family’s cousins, the Kroenkes and Lauries, have pursued careers in sports.
Stan Kroenke, who married Bud’s daughter Ann Walton, owns five professional sports teams: The Denver Nuggets, The Los Angeles Rams, The Colorado Avalanche, and the Colorado Rapids.
Their son Josh is president of two of those teams – The Nuggets and the Avalanche – and also serves as lieutenant governor of the Rapids.
Bill Laurie, who married Ann’s sister Nancy Walton, was deeply involved in sports as well.
The Waltons live relatively modest lives despite their wealth. (Image: Getty)
A former basketball player at Memphis State University, he played in the NCAA Tournament in 1973.
In 1999, Bill and Nancy purchased the NHL’s St. Louis Blues for £81m, later selling the team in 2005.
Nancy, with a passion for dance, founded the Cedar Lake Contemporary Ballet in New York, which provided millions in funding for over a decade before closing in 2015.
Despite all these other ventures, the Waltons remain dedicated to the family business, with many relatives occupying key positions at Walmart.