Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Daily Mirror
Daily Mirror
World
Ben Weich

Inside world's wealthiest family - who earn a whopping £57,000 every minute

The strange thing about the Waltons is that although they are the richest family in the world, they have largely flown under the radar for decades.

The clan are the descendants of Sam Walton, the founder of Walmart , and are worth a combined wealth of about $191 billion - or £157 billion.

He and his wife, Helen, had four children - Rob, John, Jim and Alice, all of whom are billionaires.

After Sam's death in 1992, Rob took over as chairman, while John served as a director before dying in a plane crash in the mid-2000s.

Jim and Alice are not directly involved in the running of the company - although Jim's son, Steuart is on the board.

Sam Walton, the founder of Walmart (Getty Images)
Left to right: Jim Walton; Alice Walton; Jim's wife, Lynne McNabb Walton; Rob Walton's wife, Melani Lowman Walton; and Rob Walton (Getty Images)

Since 1962 the family have enjoyed the profits of Walmart - which is only eclipsed by Amazon as a worldwide retailer, with more than 11,000 stores in 27 countries.

It owns the Asda supermarket chain in this country, and trade as the Seiyu Group in Japan and Best Price in India.

According to business news agency Bloomberg , the Waltons' fortune is growing at a jaw-dropping rate.

In the last year, the family earned £57,000 every minute, £3.3 million every hour, and £82 million per day.

Since you began reading this, the Walton's empire expanded by £19,000.

As a global retailer, Walmart is second only to Amazon (AFP/Getty Images)
The entire Walmart empire grew from a single store, which opened in 1962 (Getty Images)

On the other hand, a new Walmart employee - known within the firm as 'associates' - would have made about five pence, on the way to a £10 hourly minimum wage.

But who are the Waltons, and how did they become so rich?

Baywatch star Kelly Rohrbach is married to Steuart Walton ("irishphotos@mirror.co.uk" )

Born in 1918 Sam Walton was renowned for his frugality, reports news.com.au.

He allegedly only flew first class once in his life, and lived in a modest home, driving a beaten-up red truck.

Rob, his eldest child, seems to be more happy to splash his cash.

According to Business Insider , he owns a collection of expensive vintage cars , and in 2013 he managed to wreck an ultra-rare Daytona Coupe, which was thought to be worth £12.3 million.

Kelly Rohrbach has reportedly secretly married her Walmart heir boyfriend Steuart Walton (Mega)
The couple wed earlier this year (WireImage)

When John Walton died in a plane crash in 2005, he left around 17 per cent of his fortune to wife, Christy, with the rest going to an assortment of charities and his son, Lukas.

Jim Walton, 71, who is married to Lynne McNabb Walton, holds an estimated net worth of £40.8 billion.

Jim and Lynne have four children — Alice A Proietti, Thomas L Walton, James M Walton and Steuart Walton.

The latter is one of the company's directors and married Baywatch star Kelly Rohrbach earlier this year.

Jim Walton on stage with Jamie Foxx at the annual Walmart shareholders' meeting last year (Getty Images)
Left to right: Rob, Alice and Jim Walton, the children of Sam and Helen Walton (Getty Images)

He and his brother, Thomas are reportedly avid mountain bikers, and together they co-founded an investment company, RZC Investments.

Alice Walton has a fortune of around £40 billion. She has been divorced twice and has no children.

Alice's passion is believed to be the arts, having amassed an enormous personal collection worth approximately $500 million.

Five years ago, she stole headlines by paying £36.5 million on a painting by renowned artist Georgia O’Keeffe.

It was the most ever spent on a piece of art created by a woman.

She’s also bought and sold a series of luxury properties over the years, including two sprawling ranches in Texas and an apartment on New York's uber-exclusive Park Avenue.

Alice Walton, known for her passion for the arts, once paid £36.5 million for a Georgia O'Keeffe painting (Getty Images)
A photograph of Walmart founder Sam Walton and his family, displayed at the Walmart Museum in Bentonville, Arkansas (Getty Images)

The Walton Family Foundation, the charitable arm of the corporation, has benefited from her generosity to the tune of millions of dollars.

According to Bloomberg, the family-owned Walton Enterprises owns half of Walmart, and that 50 per cent stake paid out approximately £2.5 billion in dividends last year.

But despite their wealth, the family have shrewdly avoided the spotlight by steering clear of social media and the paparazzi-fed society pages.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.