While, Bill Gates ($40 billion) and Warren Buffett ($37 billion) continue to top the Forbes’ 2009 list of billionaires, four descendents of Sam Wilton, who founded Walmart Stores in 1962–the world’s largest retailer– own wealth of $78.5 billion, more than the combined wealth of $77 billion owned by the top two.
The Waltons—Jim, Christy, Rob and Alice—are not only among the world’s 14 richest individuals on the Earth, they are also four of the top seven richest Americans.
While, Waltons– thanks to to global financial meltdown that led to collapse of capital markets in 2008– lost substantial wealth (from $93.1 billion last year to $78.5 billion this year) they seem to have fared better than the most of their counterparts.
While, Jim Walton ranks 11th on the list at $17.8 billion, his siblings Rob and Alice as well as Sam’s widow Christy, were tied for 12th rank at $17.6 billion, each.
Walmart, which closed fiscal 2009 (ending 31st January, 2009) with revenues crossing the $400 billion mark, is not only the world’s largest retailer but is also the world’s biggest business enterprise in terms of annual revenues. The Bentonville, Arkansas (US)-based Walmart which employs over 2 .1 million persons worldwide has tied up with India’s telecom giant Bharti Enterprise to foray into retail sector of the country.
Click here
Click here
2 responses so far ↓
Partha Haldar // Mar 24, 2009 at 10:48 am
Great news for all in retail industry
Arup Bhanja // Mar 25, 2009 at 5:07 pm
This had to happen. I have read Sam Walton’s memoirs and it was a tough industry then in 1962 when he started in Bentonville, AK.
Perhaps budding retailers would like to read up on his book and crack the markets in Asia where I think HUGE growth is waiting to happen.
Leave a Comment