The Walton Family Cashes Out $1.5 Billion in Walmart Stock

The Walton family, heirs to the Walmart fortune, recently sold nearly 9 million shares of Walmart stock, totaling over $1.5 billion in proceeds. This sale is part of a series of transactions that have netted the family around $2.3 billion in the last three months alone. The recent three-to-one stock split has increased the family's total shares to approximately 3.75 billion.

Hefty Cash Influx for the Walton Family

According to SEC filings, the Walton family's cash accounts received a significant boost of $1.5 billion after the sale of nearly 9 million shares of Walmart stock last week. This move comes as Walmart's stock price surged to record highs, prompting the family to capitalize on their holdings.

Impressive Wealth Accumulation

Since 2016, Walmart's share price surge has propelled the combined wealth of siblings Rob, Alice, and Jim Walton by over $100 billion. As a result, they now stand as the world's wealthiest family, boasting a collective net worth of $226.3 billion. This surpasses Tesla CEO Elon Musk's wealth of $209.8 billion as of Monday, according to Forbes.

Surpassing All Others

When considering the entire Walton clan, their wealth soars to approximately $267 billion, placing them well ahead of other wealthy families such as the Mars candy heirs. Despite the recent stock sales, the Waltons' ownership stake in Walmart remains substantial, accounting for about 45% of the company.

Stock Split Impact

Following the recent three-to-one stock split, the Waltons now hold around 3.75 billion shares, with no change in their dollar holdings. The split is aimed at making Walmart's shares more accessible to employees and investors, with a projected share price of around $60 post-split.

Employee Participation and Benefits

Walmart, which employs 1.6 million workers in the US and over half a million globally, has a median annual employee compensation of $27,136. CEO Doug McMillon highlighted the company's share-purchase plan, with more than 400,000 employees actively participating. McMillon emphasized the importance of keeping share prices affordable to ensure broad employee ownership of the company.

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By: dreuter@businessinsider.com (Dominick Reuter)
Title: The Walton Family Cashes Out $1.5 Billion in Walmart Stock
Sourced From: www.businessinsider.com/walton-family-sells-walmart-stock-during-rally-2024-2
Published Date: Mon, 26 Feb 2024 19:11:18 +0000