Why the Waltons?

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The Walton family is the richest family in the United States and one of the richest and most powerful 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 world billionaires have a net worth of $148.8 billion. This fiscal year three Waltons—Rob, Jim, and Alice (and the various entities that they control)—will receive an estimated $3.16 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. kirk says:

    for all of you complaining about the waltons what are you doing about the problem. If you have time to comment here you are more fortunate than most. Instead of eating out give that money to someone in need instead of nike buy dollar store brand shoes and buy shoes for the poor. If you are not part of the solution you are part of the problem. It doesnt make sense what so ever for a company to give away its profits.

  2. Mark M. says:

    I don’t get it. WalMart employees are free to go work somewhere else if they want more money. Why is it the Walton’s problem that these people aren’t happy with their station in life? Target, Sears, Kmart, Home Depot… not much different than WalMart when it comes to wages. Most retail workers earn low wages. Noticed I used the word “earn”. Most of the time I get bad service at WalMart or have to deal with an employee that knows next to nothing. Why does a person like that deserve more money?

  3. Sarah Walton says:

    “The Walton family is the richest family in the United States”. Well I inherited a rich last name, sadly it came without the riches. I am proud of my family legacy. We are a family of great business minds that can create an industry out of nothing. It also provides jobs through out America, the thing that we are most in need of. Our last name is also on one of the most important documents in America, the declaration of independence signed by George Walton. We are an influential family in America and I hope I can continue the legacy in my own way.

  4. Mark says:

    Cant believe the greed these people have for money theres no pockets in coffins and after watching the documentary on the way the exploit there employees the wealth they command is mind blowing.ld be embarrassed to be part of walmart if l was in management there.lf all employees stick together to form a union and dont turn up to work theyll go broke.

  5. Barry Bynum says:

    I’ve been in a town where there were NO jobs, then Walmart came and gave people work, profit-sharing, health insurance, dental insurance, your own birthday off paid, opportunity for advancement. and made available 10% discount on groceries, dry goods, school supplies and all other items regardless of cost. I would imagine that some of the Waltons feel that this is one of many ways they have given to the community, and I think if you were to add up the bulk of these benifits to the workers over the last 35 years, it would be a huge sum. And hey yes i have seem of the folks complain about trying to scrape by, but dangit their kids have iphones, fashion shoes and xboxes, and cable TV, and they are leasing a nice car, and eating out. See it all the time.

  6. Lester says:

    I saw all the comments on Walmart and the billions they have in the bank, Well here in South Africa we have the Shoprite Chains not so big like walmart but sales figures this year was more then a 100 Billion, The CEO Whitey Basson took home a hefty R50 Million in bonuses,compare to the people they pay at store levels i think they get paid R12.20 an hour. My point is this yes we have the right to complain the Waltons inherited that wealth and how you share that wealth is in direct proportion how you treat the Living God who put it there. Well as Paul put it in Romans rich people will get worse in they greet.

    hope all understand.

  7. Phyllis says:

    I think that the Walton’s are greedy. Yes they do a service but at what cost? The goods they sell are crap, the people they hire are dumb and the stores are dirty and nasty. So who’s fault is that? I say that it is the fault of the person tasked with running the store in my area, the person that hired the people that work there and the person tasked with making sure that it is kept clean. As far as what they make and how rich they are. I say pathetic. If they paid the people that work for them a decent wage, maybe the stores would not be in such a disarray.
    Some of you say, you don’t like it, don’t work there, you are delusional.
    Wake up!
    If people could afford to work a job and take care of home and not have to rely on Welfare, do you think that people would Chose Walmart knowing that they would only get 20-32 hrs a wk? They hired my son, a Veteran, and said he would get 35-40. Right!
    I used to shop at Walmart on a regular basis. But now I see that they don’t need or Want my money. The people are nasty, the store is nasty, they allow dogs to sit where you put your food, etc. I will spend my money where I know it counts.
    I will not pad their pockets. Like someone said, “no pockets in coffins”.
    The Walton’s should be ASHAMED

    Side note
    my employer has a team that researches EVERYTIME you mention the Company name, I would Walmart does too, so that being said, SOMEONE at Walmart knows what is being said bout them, but do they care? Nah

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