IndiaRetailBiz

The recently published Forbes 400 lists America’s wealthiest persons who between them own assembled net worth of $1.57 trillion ($1,570 billion) having an average networth of $3.9 billion. The list is based on the wealth valued as on 29th August, 2008.

Microsoft’s Bill Gates ($57 billion) has snatched back the top position from Berkshire Hathaway’s Warren Buffet ($50 billion). Bill Gates, however, had held numero uno position earlier for 13 years.

Interestingly, it’s the family of Sam Walton, who founded Walmart in Arkansas (USA) in 1962 , that has turned out to be the wealthiest in the U.S., and, perhaps, also in the world.

While four children of the world’s largest retailer, Jim (23.4 bn), Rob (23.3 bn), Alice (23.2 bn), and Christy – widow of John Walton- (23.2 bn), occupy 4th, 5th, 6th, and 6th positions respectivekly, Sam’s nieces Nancy Walton Laurie (2.9 bn), keand Ann Walton Kroenke (3.4 bn), alongwith her husband E Stanley Kroenke (3.5 bn), also find their names on the most envied list. Nancy and Ann have inherited a part of Walmart’s fortune from their father Bud Walton, Sam’s brother, who had co-founded the retail giant with Sam.

Taken together, the Sam Walton family is worth $102.9 billion or over one-sixteenth of all billionaires put together.

Founded 46 years ago as Wal-Mart Discount City Store on July 2, 1962, is today racing towards crossing $400 billion in sales this year.  Walmart now is not only the world’s largest retailer but the world’s largest company as well. Wal-Mart stores and Sam’s Club today operate 7,437 retail units across 7,390 locations in 14 markets employing more than 2 million employees and serving more than 200 million customers evey year.