3.Walton Family
The Wal-Mart Stores, Inc. was established by Sam Walton in 1962. The company has a chain of discount department store, grocery store and hypermarkets. The total wealth of the family is estimated to be $152 billion.
The family owns 50.97% of the company’s shares. The store was opened to sell products at lower prices and earn lower profits with high sales. The company at present has 11,539 stores in 28 countries. In total they give employment to 2.3 million people worldwide and 1.4 million in US. Sam Walton has 7 heirs and the company went public 1970. After retirement of Jim Walton, son of Sam, his position is taken over by his son Steuart. The owners of the company include Sam’s children, Daughter in law and her son and two daughters of his brother James “Bud”.
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