Meet the Family

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The Walton family is the richest family in the United States and one of the richest in the world. They are heirs to the Walmart fortune and the company’s largest shareholders, with over fifty percent ownership of stock in the retail giant.

Sam Walton and his brother Bud opened their first Walmart discount store in 1962. Today three family members serve on Walmart’s board of directors; Rob is the chair, and sits on the board with his brother Jim and his son-in-law, Greg Penner.

The six Waltons on Forbes’ list of wealthiest Americans have a net worth of $144.7 billion. This fiscal year three Waltons—Rob, Jim, and Alice (and the various entities that they control)—will receive an estimated $3.1 billion in Walmart dividends from their majority stake in the company.

The Waltons aren’t just the face of the 1%; they’re the face of the 0.000001%. The Waltons have more wealth than 42% of American families combined.

Why does all of this matter? While the Waltons are building billion-dollar museums, driving million-dollar cars, and jumping between vacation homes, Walmart, the country’s largest private employer, is paying its associates an average of $8.81 an hour. The Waltons make billions a year off of a company most of them don’t even work for, while Walmart associates struggle for respect on the job and enough pay to make ends meet.

Through their family legacy, places on Walmart’s board of directors, and their majority stake in the company, the Waltons have the power to turn 1.4 million Walmart jobs into good jobs.

Comments

  1. Stefanie says:

    They should all be abolished, they treat their employees like shit, and have no respect for them. I saw it first hand. Remember Waltons all good things come to an END!!

  2. Chris says:

    You negative people cant do math. The waltons make 3 billion a year. If you divided all that profit into 1.5 million employees, they each get $2000 more per year. That’s about a dollar more an hour. Every employee would have $35 extra a week after taxes so that the owners get nothing? The owners would close up shop and lay everyone off if they had $0 profit. So is $8.81better than no job?

    Dummies. Do math before you spew ignorance.

  3. scott says:

    They have so much money why pay employees dirt cheap. Most make 7.65 or less

  4. WHat about Audrey says:

    Audrey Walton

  5. Jason says:

    Why aren’t you listing Hillary Clinton as a member of the Walmart board of directors? She served from 1986-1992, and sat silently while Walmart fought unions.

  6. Tom B says:

    More accurate math can be found here: http://fortune.com/2013/11/12/why-wal-mart-can-afford-to-give-its-workers-a-50-raise/
    But the bottom line is this… WM CAN very easily afford to pay every one of its store level employees far more per hour than it does. A fifty percent raise? On the surface that’s pretty ludicrous to expect of any company. On the other hand, fifty percent on a nine dollar salary brings a person up to 13.50 per hour. My daughter averages more than that working at Starbucks. Retailers enter a contract with employees and their position is that the employee makes a choice to work for the company. This is true. But it is also true that when jobs are scarce employees take whatever job is available. A choice is only a choice when there is an option. I think the better solution is for WM to look at its people as assets rather than as expenses. One seeks to minimize one’s liabilities but to maximize one’s assets. Investing in their employees would be a way to have better, happier, more dedicated employees. And that will always be good for the bottom line.

  7. Bill Dilbeck says:

    I can not believe Wal-mart has a outside firm oking checks ; this is simply not putting trust and faith in the people you hire and you wonder why you are loosing money. My wife ,whom is a Viet-nam vet and a Pastor went into one of your stores to purchase some items and your check service would not accept her check and i went in after work with my check book showing my balance and used my bankcard to purchase these items we and most everyone we know are putting a ban on shopping your stores and will pay more because we will be treated better elsewhere ; places such as Meiijers,Target, Kmart and so on. By having a outside firm oking these check writing policies not only are you embarrassing customers ; you are showing distrust in the people you have employed to run your stores, Sam Walton would be real proud of you all so proud he might have just fired everyone of you.

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Legal Notice: National Labor Relations Board notice regarding settlement in 16-CB-105773. Read notice here,.(Un aviso de Junta Nacional de Relaciones del Trabajo en 16-CB-105773. Lee aviso aqui). UFCW and OUR Walmart have the purpose of helping Walmart employees as individuals or groups in their dealings with Walmart over labor rights and standards and their efforts to have Walmart publicly commit to adhere to labor rights and standards. UFCW and OUR Walmart have no intent to have Walmart recognize or bargain with UFCW or OUR Walmart as the representative of its employees. Courts have enjoined non-Associate UFCW and OUR Walmart agents from entering any Walmart property, except to shop, in Arkansas (read order), Florida (read order), Texas (read order), Colorado (read order), Ohio (read order), and Maryland (read order); and in California from entering inside stores (read order).